ERRETT LOBBAN CORD - DOCUMENT SIGNED 12/27/1938 - HFSID 279104
ERRETT LOBBAN "E. L." CORD Stock transfer certificate signed by pioneering transportation mogul Cord, accompanied by the 100 shares of Pan American Airways stock originally issued to him.
Sale Price $1,190.00
ERRETT LOBBAN "E. L." CORD Stock transfer certificate signed by pioneering transportation mogul Cord, accompanied by the 100 shares of Pan American Airways stock originally issued to him. Cord, who started as a race car driver and mechanic, would eventually control major portions of the US aviation industry, and produce the classic Cord automobiles. Document signed: "EL Cord", 7¾6. New York, N.Y., 1938 December 27. Stock Transfer statement signed I blue ink, transferring 100 shares of capital stock (represented by certificate #C8365) in Pan American Airways Corporation to the Wall Street firm of L. A. Pierce & Co. Red pencil marks (unknown hand). Lightly toned. Normal ink stamps and cancellation holes, which touch signature. Two staple holes at top edge, one in each corner. Paper clip impression on left edge. Otherwise in fine condition. Accompanied by Stock Certificate (unsigned). Certificate #C3865 for 100 shares of capital stock in Pan American Airways Corporation with a face value of $5 each, made out to E. L. Cord, dated December 10, 1938. Normal cancellation holes. Folded twice and unfolded. Otherwise in fine condition. Errett Lobban "E. L." Cord (1894-1974) became President of Auburn Automobile Corporation in 1924, and acquired Duesenberg Motor Co. in 1926. In 1929, Auburn introduced the Cord L-29, the first mass-distribution care with front-wheel drive. The Cord Model 810 (1936) was the first car with "hide away" headlights. In 1996, American Heritage magazine declared the Cord 810 sedan "the single most beautiful American car." Not content with automobiles, Cord formed the Cord Corporation, a holding company which would control over 150 companies, most of these in the transportation industry, including American Airlines, Checker Cab, New York Shipbuilding, Vultee Aircraft, and a significant share in Pan Am. Cord always insisted on quality products. His airlines were the first to introduce the DC-3, and many flight amenities. Cord automobiles ultimately succumbed to the Depression, and Cord - besieged by the US government for stock activities - was ousted from his corporation in a 1937 takeover battle. But, of course, Cord landed on his feet, making a new fortune in real estate and radio stations in California and Nevada. He declined entreaties to run for governor of Nevada. A rare signature of one of America's greatest transportation entrepreneurs. Two items.
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