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 signatures of the Company's President and Treasurer and is over 91 years old.
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 ˙ 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
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
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 .....
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