A world-wide investment trust incorporated in Maryland, American Founders Corporation had one of the most phenomenal growths ever recorded in the world's story of wealth. In 1922, $1,000 would have bought 100 shares of American Founders. By 1930, this would have swelled by stock dividends alone (exclusive of rights) to over 38,000 shares with a market value of about $29 per share, or over a million dollars. Between November 30, 1928, and November 30, 1929, its assets rose from $44,000,000 to $129,000,000.
In 1929, United Founders was organized to acquire a large interest in American Founders, and to make certain investments on a bigger scale than a pure investment trust could do. Most of the investments were in the public utility field. Working with Harris, Forbes & Company, United Founders had big holdings in U. S. Electric Power
, Hydroelectric Securities, United National Corporation and Public Utility Holding Corporation of America
, all of which gave it a strategic position in the industry.
In March of 1930, a complete merging of American Founders and United Founders was proposed, which would form a corporation of $300,000,000 resources. President of both companies would become Louis H. Seagrave (whose printed signature appears on this piece), one of the least known of U. S. tycoons. Born in Council Bluffs in 1892, he was publicity director in the state of Oregon for the first Liberty Loan drive, and then an executive in Portland and Spokane banks. In 1923 he became sales manager of First National Corporation of Boston, and in 1926, president of American Founders.Certificate:
First Preferred Stock, issued in the 1930’sPrinter: Hamilton Bank Note Company Dimensions:
8” (h) x 12” (w)State: MD-Maryland Subject Matter: Finance and Related
| Holding Companies Vignette Topic(s): Famous Americans Featured
| George Washington Featured
| Ben Franklin Featured
| American Landmarks Condition:
Vertical fold lines, punch hole cancels in the signature areas and body, toning and edge faults from age.