Flemish-Lynn Phonograph Company - New Jersey 1916

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Beautiful certificate from the Flemish-Lynn Phonograph Company issued in 1916. This historic document was printed by J.Meyers Banknote Company and has an ornate border around it. This item has the signature of the Registrar and Transfer Agent and is over 104 years old. This was a certificate issued when the company was in receivership. Flemish Lynn Phonograph Company was located on 37th Street, Brooklyn, New York. Below is from THE WORLD'S WORK - VOLUME XXXVII NOVEMBER, 1918 to APRIL, 1919 A HISTORY OF OUR TIME GARDEN CITY NEW YORK DOUBLEDAY, PAGE & COMPANY MARKET MANIPULATION AND ITS PART IN THE PROMOTION GAME How the New York Curb Market is Used by the Pirates to Stimulate Demand for Their Promotions BY LOUIS GUENTHER (In collaboration with John K. Barnes, the Financial Editor of The World's Work) UNSCRUPULOUS PROMOTERS Such schemes as this to catch the unwary dollars of investors are common on the Curb. In its defense it is said that the Curb market is an open one, and Curb brokers contend that they are not to blame if outsiders trick the public. But such gross manipulations as Cobalt Central, which paid dividends that were not earned; Micmac Mining, the fraud that drove J. Thomas Reinhardt to London to escape arrest; Gold Hill Consolidated, in which copies of letters on United States Senate stationery were used; Miami Merger Copper, which was "rigged" by Harry Lefkovits from 25 cents ÿ share up to $2.06 and then quickly fell to 62^- cents; Jerome-Prescott Copper, which had as sudden a drop from §9.00 to 25 cents a share when the bubble in it burst, and many others too numerous to mention, could not have been possible were it not for the laxity the Curb shows toward the character of securities it lists and the latitude allowed to unscrupulous manipulators. These human vultures can use the Curb market as their field for preying upon a credulous public, and such piracy will not s top until the better element among the Curb brokers adopt firm measures for its complete reformation and regeneration. As far as the public is concerned it is too open. If the simple restriction were established that those who wish to list securities there must be of good standing and reputation themselves, it would go a long way toward checking the evil. Then such leading pirates of promotion as George Graham Rice, A. B. Benesch, B. X. Dawson, and many others, could no longer make use of the Curb to further their promotion operations. " Buncomb Oil is to be listed on the New York Curb" is a statement so often made that it is clear there must be some magic in it to make people believe the listing of a stock will be followed by advancing prices. It is often used whether there is any intention of listing a stock or not. And a stock is not always listed when it appears in a Curb broker's list of transactions, for cases have been known where spurious quotation sheets have been mailed and false quotations manufactured. " We expect Flemish-Lynn Phonograph shares to be traded in on the New York Curb market on Monday. . . . We look for the preferred to open around par--$5, and hold that price steady or go to higher levels, it being a 7 per cent, cumulative preferred and likely to go right on a 7 per cent, dividend basis." Thus wrote C. R. Bergmann & Company to the public regarding this "splendid investment." And part of what they predicted came true. The stock went higher than $5 a share; they so manipulated the market in it that it should. They had an estimate from the president of the company that the net profits would approximate nearly nine times the preferred dividend charge to help them out. It turned out that this estimate was a dream; no dividends were ever paid, and Flemish-Lynn was soon submerged among the mass of wreckage with which the treacherous shoals of the New York Curb are strewn. But at that time C. R. Bergmann & Company and Joseph Cowan were flushed with their success in the manipulation of other promotions .....