Beautiful certificate from the Dunham Incorporated
issued in 1939. This historic document was printed by Goes Banknote Company and has an
ornate border around it with a vignette of the capitol building of Massachusetts. This item has the signatures of the Company's President, Otis Emerson Dunham and Treasurer and is over 70 years old.
Time Magazine - Monday, Aug. 19, 1935
Page & Shaw.
So inordinately fond of sweets was the late teetotaling James Buchanan ("Diamond Jim") Brady that he was known to eat a pound of candy in five minutes. One day he was given a box of chocolates made by a small Boston confectionery named Page & Shaw. "It's the best goddam candy I ever put in my mouth!" cried "Diamond Jim," who vowed he would thereafter buy no candy but Page & Shaw's. Later, according to his biographers, he offered the struggling little candy company $150,000 without interest.
Page & Shaw did not remain obscure for long. Styling itself "the only international candy company," it opened branches in England, France and Canada, a chain of swank stores from Manhattan to San Francisco. By 1924 its sales reached a peak of 2,200,000 lb. per year. Then troubles came to Page & Shaw. Sales slumped, cash dwindled. Control had fallen into the hands of a Boston lawyer named Otis Emerson Dunham. Promoter Dunham shocked the Boston Better Business Bureau by giving away one share of common stock with every $2 worth of candy. In 1930 Promoter Dunham and two stockbrokers were found guilty of conspiracy in floating $2,000,000 worth of Page & Shaw stock. According to the prosecution, half of the money received from selling the stock went to the brokers. Otis Dunham was sentenced to two years in a Massachusetts house of correction. Before his sentence began, Page & Shaw quietly toppled into bankruptcy.
Last week, firmly convinced that he had been victimized, Otis Dunham emerged from retirement to file in Massachusetts a damage suit against six of his stock-selling cronies. Claiming that the brokers had forced their way into the company in 1929 and "caused his name to be forged on papers and letters," he demanded $1,500,000 damages and complete vindication of blame for the shady stock deals. Page & Shaw has never recovered from the Dunham spree. It still operates a factory in Cambridge, but all its retail stores have been closed. Most of its candy is sold today through drug stores and specialty shops.