Studebaker-Packard Stock Certificate

[HOXXOH]

I'm curiously researching some stuff I've acquired over my lifetime, in preparation to document those items prior to distribution to friends and family. It's what we do when we reach our twilight years in hopes that the newer generations will have a better understanding of what came before them, in order to carry the torches forward.

I'm trying to avoid having history and parts carelessly thrown in the dumpster the day after the funeral, by those whose main motives are cleaning out the house/garage to quickly prepare it for sale.

With that said, this June 24, 1963 S-P stock certificate issued to Lehman Bros begs the question: Were they investing to prop up Studebaker or did they know (in advance) the plan to shut down auto production (the loss leader) would create a major increase in value of the remaining assets?

Of course, any pre-known information would have been closely guarded by the Studebaker Corporation Board of Directors, which brings me to the real background questions.
1. Who were the individuals on the Board between roughly 1958 and 1968 ?
2. When did they become members and how long did they serve?
3. Were any of the members also Board members of any of the other assets/subsidiaries, such as STP, Gravely Tractors, etc?

I'm not trying to start a new conversation about the demise, but only to provide a brief picture of the people who made the financial decisions.

[StudeRich]

On June 24, 1963 I don't think they could have known about the Dec. South Bend Plant shutdown, MAYBE!

But by June 28, 1964 when they dumped this 100 Shares and probably a LOT more, they probably did see the Handwriting on the wall that Value was better, but not exactly Soaring and may not appear to be long term sustaining, the Walls MAY come tumbling down.

About question #1;
I would think during some Years around 1957-1959 at least one or more Board Members would be Curtis Wright Corp. Executives of some kind. Probably X Packard Motor Corp. as well.

[studegary]

We bought stock in Studebaker in 1963. At first, I thought that yours shouldn't be Studebaker-Packard stock in June 1963, then I looked at your picture and noticed the stamp of correction to the name. I own several different Studebaker stock certificates to get different corporate Presidents' names on them, but only the one certificate made out to us (the most valuable to me).

[PackardV8]

There is some documentation to substantiate the S-P Board of Directors knew by 1956 there was no future for S-P in automobile production. It took another ten years to screw over the workers pensions, the dealers contracts and move assets into acquisitions of non-auto subsidiaries.

jack vines

[pinehurstbob]

I think Jack has said it all. Stock certificates, while legal tender at the time, are good wall paper today.
Bob

[StudeRich]

Actually, after being Cashed as they all are, they were Wallpaper then too!

Collectors items for those that care for sure, I have bought a few cashed ones for keepsakes worth the shipping plus a few $.

[6hk71400]

I have a series of old stock certificates will all Presidents from Vance to Burlingame with the name changes on all of them. As said good wallpaper but fun to have.

Bob Miles

[studegary]

Actually, after being Cashed as they all are, they were Wallpaper then too!

Collectors items for those that care for sure, I have bought a few cashed ones for keepsakes worth the shipping plus a few $.

They were not all cashed. For example, our certificate was never "cashed".

[rbisacca]

April 1962 I bought 10 shares of Studebaker stock for $104.68. In 1966 they actually started paying dividends. Sold my stock 11/12/68 for $109.05 a gain of $4.37. That plus the $4.00 I received in dividends equaled a total profit of $8.37.

[Skip Lackie]

IRT your questions in the first post, the Board of Directors usually had eight members, one of whom was the corporate president, and one was a past president. The other six were usually about half bankers and half presidents or CEOs of other companies. As near as I can tell, they did not serve fixed terms, but usually stayed for four or five years. Subsidiary directors were not on the board.

Edit: shoulda included the fact that I have a few copies of the S-P annual reports, which include the names of board members at that time.