Doomed Tucker Corporation & MGM Group of Five Stock Certificates
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Description
Doomed Tucker Corporation & MGM Group of Five Stock Certificates
A small, mixed group of 5 Stock certificates dating from ca. 1847 to 1947. Belonging to The Tucker Corporation (1) and Metro-Goldwyn-Mayer Inc. (4). The Tucker certificate has flattened folds and cancellation punches, very fine. The MGM certificates are near mint. 12" x 8".
The Tucker Corporation Class A Common Stock certificate, No. 21622, is dated September 24, 1947, and made out to Vera K. Ganschinietz. The four Metro-Goldwyn-Mayer Inc. Common Stock certificates are all blank, No. BN54455, BN1482, BN50860, and BN49649.
The Tucker Corporation was founded by Preston Tucker (1903-1956) ca. 1947. Tucker is best known for his production of his Tucker 48 sedan, also known as the "Tucker Torpedo". Production of the car was short-lived however, due to scandal and controversial accusations of stock fraud in early March 1949. Tucker and six other Tucker Corporation executives were indicted on 25 counts of mail fraud, five counts of violations of SEC regulations and one count of conspiracy to defraud. The factory closed in October with only 50 cars having been built. Tucker was found "not guilty", but the scandal and debts from the trial led to the Tucker Corporation's ultimate demise.
This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.
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