Beautifully engraved uncancelled stock certificate from the Electrical Accumulator Company
issued in 1887. This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of an two young children between a harp and two gryphons at the bottom of the certificate. This item has been hand signed by the Company’s President, Theodore N. Vail, and Secretary, H.R. Parish, and is over 124 years old.
The Electrical Accumulator Company made batteries for for lighting and power purposes, and for the Edco system of street car propulsion.
Theodore Newton Vail (July 16, 1845 – April 16, 1920) was a U.S. telephone industrialist. His philosophy of using closed systems, centralized power, and as much network control as possible, in order to maintain monopoly power, has been called Vailism. He served as the president of American Telephone & Telegraph between 1885 and 1889, and again from 1907 to 1919 (the company was named American Telephone & Telegraph before 1894). He convinced President Woodrow Wilson that the telephone as a medium of communication would spread more rapidly if brought under one monopoly so as to ensure uniform provision of services throughout the country. He called this "one system, one policy, universal service". This was formalised in the form of the Kingsbury Commitment of 1913.