RANSOM E. OLDS - STOCK CERTIFICATE SIGNED 01/10/1916 - HFSID 258480
RANSOM OLDS Founder of the U.S. auto industry issues his REO stock. Stock Certificate signed: "R E Olds" as President and "D E Bates" as Secretary of the REO Motor Car Company, 1p, 12¾x8½. Lansing, Michigan, 1916 January 10. Certificate L0832.
Sale Price $1,360.00
Founder of the U.S. auto industry issues his REO stock.
Stock Certificate signed: "R E Olds" as President and "D E Bates" as Secretary of the REO Motor Car Company, 1p, 12¾x8½. Lansing, Michigan, 1916 January 10. Certificate L0832. In part: "This Certifies that C.R. Brand is the owner of Fifty Shares of the Capital Stock of Reo Motor Car Company, full paid and non-assessable of the par value of Ten Dollars each...." On verso, Brand transferred his shares to John Ross on April 19, 1916. Olds' first powered vehicle was a steam-driven three-wheeler in 1886. He established the Olds Motor Vehicle Company in 1899. In 1901, Olds marketed a three-horsepower Oldsmobile, the first commercially successful American car. In 1904, he established the REO Motor Company, its name being his initials. To ensure a steady flow of parts, Olds organized several subsidiary firms. By 1907, the REO Company had gross sales of $4 million and Olds was a leader in the industry. Olds then expanded REO to Canada and in 1910 formed the REO Truck Company. The company's market share declined between 1911 and 1915 and Olds was replaced as General Manager. He played a lesser role after 1915 branching out into other investments. He resigned as President of the REO Company in 1923 when he became Chairman of the Board in which he served until 1936. Folds, light vertical folds touch "R" and "O". "R" cut cancellation touches "E" and nicks "O" in Olds' signature. Lightly soiled at lower blank margin. Overall, fine condition.
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