Beautiful uncancalled stock certificate from the Palmer Union Oil Company issued in 1912. This historic document was printed by the New York Bank Note Company and has an ornate border around it with a vignette of an eagle over an image of the oil pump with cherubs. This item has the original signatures of the Company’s President, and Secretary, and is over 101 years old.
Palmer Union Oil Company turned into long-forgotten companies such as Palmer Stendel Oil Corporation, Petrocarbon Chemicals Inc and ultimately Taylor Wine Company Inc. and ended up merging into Coca Cola Co. on 1/21/77. As a result of this story, Bob Kerstein, founder of Scripophily.com / Old Company Research, was featured on the “Today Show” and “Inside Edition” as a Stock Certificate Expert. In this particular case, Kerstein believed that the Palmer Union Oil Company stock only had value as a collectible and not a redeemable security. Factors considered in this determination included the method in which the stock was acquired, issued and endorsed, the number of reverse stock splits and capital changes, statute of limitations issues, and the requirements of escheating property to the government.
History from Encyberpedia and
stock certificate research service)
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