Yet another reason why I love my mother-in-law

[jnewkirk77]

When I married my wife, Ginger, I got the best in-laws a guy could ask for. I really, really did. I love them, and they love me. It works out pretty well for all of us.

Evidently Carol, my mother-in-law, really loves me. Over the past couple of years, she's bought me two 1/18 scale Studes, a black-over-light blue '53 Commander Starliner and a maroon '37 CE; both look great with the red and white '57 Golden Hawk Ginger bought me a number of years ago. They are in a place of honor with my other Stude memorabilia here in the garage, some of which she bought for birthdays and other occasions.

But tonight, Carol really surprised me!

She returned this evening from Hot Springs, Arkansas, where she spent the weekend with her sisters (it's a trip they do every year), and she brought me a gift.

And what a gift!

It is a Studebaker-Packard common stock certificate, dated January 1961, and is for 100 shares, which were purchased by White Weld & Co. (see below for more on this company that I have discovered). So, at least on paper, I guess I'm a stockholder!

It has Harold Churchill's signature on the face, and some REALLY fine print on the back. Guess I'll have to scare up a magnifying glass to read that!!!

I've never been much on stock certificates (isn't it called scripophily?), but I had thought about buying some "shares" of Studebaker a few years ago at an antique show. I passed, but tonight, it's here!

I know precious little about stock certificates in general, so if anyone has any interesting tidbits, I'd appreciate your input!

---

WHITE WELD & CO. was a Boston investment bank founded in the 19th century; sold out to Merrill Lynch in 1978. Actress Tuesday Weld (of Dobie Gillis fame) and former Massachusetts Governor William Weld are not only related, but descended from the founders of White Weld. And the uncle of President George H.W. Bush, one George Herbert Walker Jr., was an executive there after selling his own firm to White Weld. So my little piece of stock has some "connections," I guess. I do wonder how many shares of S-P they owned ... [:I]


Jacob Newkirk - Owensboro, KY

KEEP AMERICA BEAUTIFUL! Drive a Studebaker!

[63t-cab]

My Mother-in-law got me a coupe express last year for Christmas.off hand I can't remember the scale,but it has the option of riding along with me in my real life Champ.

Joseph R. Zeiger

[Carl Purdy]

You have to keep check on those mother-in-laws after a while they sprout horns.


7G-Q1 49 2R12 10G-F5 56B-D4 56B-F2
As soon as you find a product you like they will stop making it.

[556063]

If the certificate has numbers (a date) made of little holes in it, it was processed much like a cancelled check, either when it was cashed in or converted to a successor company stock. That would indicate to a financial institution that the certificate was surrendered, and had no value. Dividends and the like are paid to stockholders of record on a certain date. A cancelled certificate was kept on file to prove ownership as of a certain date, etc, and the bulk of the certificates on the market are ones that have been released from files at are no longer needed. To this day, you can still ask a certificate be issued if you own a stock, but most stock is tracked electronically without certificates

If there is no cancellation on it, it means the certificate itself may have never been surrendered for processing. It may be a lost original, or, one that was never surrendered. These are the exception, and not the rule. Lack of cancellation does not guarantee value. It would certainly make it more valuable to a collector, though. The original value would belong to the person or entity named on the certificate, not the bearer, anyway.

Kevin Wolford
Plymouth, IN

55 Champion
60 Lark VI Conv.
63 Avanti R1

[jnewkirk77]

It's been cancelled, Kevin. And it wasn't long at all after it was issued; the issue date was January 3, 1961. On the right hand side, the cancellation reads as follows:

CANC'L'D
+1-12-61
CIB&TR

And the second, on the left hand side, reads:

CANC'L'D
+1-13-61
F.N.B.

On the back side, it shows the shares were transferred or assigned to A.E.D., A Partnership; I don't imagine this was it, but the only A.E.D. I know of is the Academy for Educational Development, which is an organization that works to improve educational access in developing countries. This particular AED was founded in 1961, but unless someone purchased the stock as a gift to this group, I really doubt they were the "lucky new S-P stockholder."

The power of attorney over the transfer of the stock was entrusted to Freehling, Meyerhoff & Co. I don't find any info on Freehling, Meyerhoff anywhere, but two companies at 120 S. LaSalle St. in Chicago (one named Freehling & Co. and the other named Irving Meyerhoff & Co.) are listed in IRS Revenue Ruling 68-406 dated June 15, 1968. Perhaps Freehling and Meyerhoff parted ways (but not by far, still being at the same address!) sometime after 1961. I don't know.

I do know a bit more about stock certificates than I did before, though, which is what I wanted. I'm enjoying this!

Jacob Newkirk - Owensboro, KY

KEEP AMERICA BEAUTIFUL! Drive a Studebaker!

[jnewkirk77]

quote:Originally posted by ST2DE5

You have to keep check on those mother-in-laws after a while they sprout horns.

In my case, it's the stepfather-in-law who sprouted the horns. Long story, but he has his good days ... occasionally ... plus, I give as good as I get! [}][)]

Jacob Newkirk - Owensboro, KY

KEEP AMERICA BEAUTIFUL! Drive a Studebaker!