Gamble-Skogmo, Inc.

Gamble-Skogmo, Inc.
Item# 3598

Was: $14.95

NOW:
$9.95

       




Stock Certificate, issued/canceled
1970's
Security-Columbian Bank Note Company
The item shown is representative of the one you will receive











       











Born at the end of the 19th century, Bertin Gamble and Philip Skogmo were boyhood friends in Arthur, North Dakota (40 miles northwest of Fargo). As young men they each came separately to Minnesota and worked in a variety of jobs. In 1920, they pooled their resources, borrowed some money and bought an auto dealership in Fergus Falls, Minnesota. Soon they discovered the sale of auto parts and accessories was the most profitable part of their car dealership. So, in March 1925, they opened the first Gamble Auto Supply store in St. Cloud. By 1928, they had 55 stores and moved their headquarters to Minneapolis. Eventually, Gamble stores were franchised, and by 1939 there were 1500 Gamble dealers and 300 corporate stores in 24 states.

From the mid 1940s to the end of the 1970s, Gamble and Skogmo diversified their businesses into many new endeavors, including a discount division, financial services, real estate, and retail businesses such as Aldens mail order company, Womans World Shops, Red Owl Grocery and Snyder Drug stores. At the end of this period of growth, Gamble-Skogmo was the 15th largest retailer in the United States with 4200 outlets and 26,000 employees in 39 states. Following the retirement of Bert Gamble, the company was sold to the Wickes Co. of California. The purchase was highly leveraged, the combined companies struggled, Wickes filed bankruptcy in 1982, and the empire was sold off in pieces.MN-Minnesota Retail and Related Department Stores Under $10 Allegorical Featured



All certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. Unless otherwise indicated, images are representative of the piece(s) you will receive.