SOLD
100.00USDto b********t+ buyer's premium (25.00)
This item SOLD at 2018 Oct 21 @ 10:15UTC-7 : PDT/MST
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SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require sp...
I/U #230 CD Reid 25 shares, 1915. Large vignette of track with gold course in infield. Very early auto racing track cert. No folds." At the time, it was called “the fastest, safest and most spectacular automobile race course in America.” Speedway Park was a mammoth two-mile wooden board track located in Maywood, Ill., which operated between 1915 and 1918. For a brief time, Chicago seemed to be the capital of worldwide auto racing. Motor racing was relatively new to this country with the Indianapolis Motor Speedway opening in 1909 and holding its first 500-mile race in 1911. The Chicago area’s Speedway Park, the creation of David F. Reid, was to eclipse the fame of Indianapolis, LeMans, Targa Florio and Brooklands by allowing the fastest car speeds possible. Reid envisioned a national sports complex that would include golf, tennis, polo, aviation, a horse trotting course, a gun club and other “high-class” sports. Banked wooden board tracks were part of the American racing scene from 1910 through 1931. Speedway Park would be among 24 of these speed venues that would be part of United States racing history. Reid, President of Reid & Company, Investment Bankers, saw the Speedway Park Association organized in June of 1914 for the purpose of constructing and maintaining the speedway. Actual work on the property did not begin until December with only preliminary, ground-clearing activities taking place in December and January. On January 15, 1915, about 200 members of the Speedway Park Association raised the American Flag over the acres of a desert of snow and ice. Encountering terrible weather conditions during the winter and early spring months, the actual construction of the track, grandstands, etc. did not begin until April 18. The track was located on 320 acres of farmland just south of 12th Street between First and Ninth Avenues with 22nd Street being the grounds’ southern border. The amazing thing about the construction of the speedway is that it was completed in the course of about 60 days, using 14 million feet of lumber supplied by timber baron Edward Hines, 100 carloads of sewer and drain tile, 15,000 concrete piers, 50,000 cubic yards of cement, 500 tons of nails and spikes, 1,000 tons of steel, 2,000 carloads of cinders and six miles of road approaching the park. Wood was a popular, but expensive, surface for a closed circuit speedway because it was smooth, fast, absorbed gasoline and oil spills and cut down on the tire-destroying heat of hard-surfaced tracks. The track surface was made of two-by-fours laid edgewise, spaced with a quarter-inch gap between them and running in the direction that the speeding cars would travel. The track was 60 feet wide on the homestretch, 70 feet wide in the turns and 50 feet wide on the backstretch. The builders were counting on the track with its 19-degree banked turns to produce record-breaking speeds, and they were correct. With major improvements in the automobile industry coming out constantly, race organizers and drivers were out for the magic mark—100 miles an hour for 500 miles! The track’s first event was scheduled for Saturday, June 19, 1915, but rain postponed the American Automobile Association-sanctioned event until Saturday morning, June 26. Prior to the first race, the legendary Barney Oldfield took to the track and ran a “publicity stunt” lap of 111.5 miles per hour in a car powered by an engine well over the 300-cid rules limitations. After his record run, Oldfield was quoted as saying, “If I tried that on any other race track in the world, I’d be dead.” Born in 1884, Dario Resta, an Italian, living in England, and his “legal” French Peugeot grabbed fast time qualifying honors with a lap of 110.1 mph around the high-banked speedway. The rest of the four-wide, front row starters included Stutz drivers Earl Cooper, Howdy Wilcox and Gil Anderson, all of whom qualified at about six miles per hour slower than Resta. . All cars of the day were considered “two-man” as each entry carried its driver and a riding mechanic. Resta, Cooper, Wilcox, Billy Carlson and Jean Porporato were all early race leaders, but as the race approached the halfway mark it was evident that Resta was the man to beat. Resta went on to claim the victory, running an average speed of 97.58 mph to score the win over Porporato and Eddie Rickenbacker. After a five hour, seven minute and 26 second run, Resta took home $23,000 after posting a winning speed that was some eight miles per hour faster than the Indianapolis 500 record. The track’s first event was a success. with some 80,000 fans attending. The association quickly booked another race for some 40 days later which would be a 100-mile challenge between four drivers—Resta, Oldfield, Cooper and Bob Burman. Speedway Park opened the 1916 season on June 11, scheduling a 300 miler less than two weeks after the running of Indianapolis’ Memorial Day classic, which was scaled down to 300 miles for the only time in its history. Scoring a win at Indianapolis, Resta was again the winner at Maywood, defeating fastest qualifier Ralph DePalma and his Mercedes. Over 50,000 paid to see Resta and DePalma battle for the lead only to see DePalma’s German racer blow a spark plug four miles short of the finish line. A week later, the speedway scheduled a series of match races between Resta and DePalma. With 40,000 in the stands, Resta won the five, 12 and 25-lap heats and took home $5,000. The Gold Cup Grand Prix was held on August 20 with a small crowd witnessing Resta grabbing top honors in a 50-mile finale, which followed four 10-lap heat races. The season-ending program was set for October 14 with Resta again taking home the first place money in the 250-mile Grand American Classic. Resta and his blue Peugeot made it eight straight victories at Chicagoland’s wooden board track. With the United States declaring war against the German government on April 2, 1917, motor sports were able to continue, unlike during the Second World War. The speedway kicked off its new season on April 2 with a display of patriotism seasoned with some racing for professionals and amateurs alike. The program had simulated war games in the infield, Army aerial maneuvers and a 150-mile race, which Cooper won in his personally-owned Stutz. With WWI in full swing, the Maywood oval did not present a racing program until Labor Day September 3 with a series of sprint races held that saw DePalma win 20 and 50-miles races with Louis Chevrolet in his Frontenac taking the feature race. A match race between DePalma and Chevrolet was scheduled for the next Saturday but was canceled with an October 13th sprint program now added to the schedule. With the Chicago White Sox playing the New York Giants in the World Series at Chicago’s Comiskey Park on the same day, a small turnout saw Tom Alley win a 20-mile race with Pete Henderson and Ralph Mulford splitting honors in a pair of 50 milers, the final one being cut down from a scheduled 100 miles. Track management hastily tried to organize additional heat races for the following afternoon with the races never held because of a small crowd turnout.The final season of racing at Speedway Park came about in 1918. On June 22, a crowd of 40,000 saw Chevrolet and his Frontenac win a 100-mile feature, besting second place finisher and teammate Mulford and 13 other competitors. Resta scored the win in the 10-lap “handicap” event, while DePalma set a new track record at 116 mph. The track’s final race event was held on July 28th with DePalma and his Packard winning all four of the program’s races. Earlier, DePalma’s mount caught fire and threatened to burn down the speedway. Speedway Park never reopened, suffering from financial straits and falling into bankruptcy. The track was dismantled with the property being purchased and donated to the U.S. government by Edward Hines Sr. of Hines Lumber Co. fame for a veterans hospital. It was called the Public Health Service Hospital #76 for a time, but was later renamed the Edward Hines Jr. Memorial Hospital in October of 1921 in memory of Hines’ son, who died in France during WWI. Whatever became of Resta? The “king” of Speedway Park pretty much quit racing after 1918 only to be lured back in 1923, despite his wife’s objections. Resta drove a Packard to 14th place finish at Indianapolis that year and did not race again until 1924. Driving a new Sunbeam Grand Prix car, Resta would attempt to set a new 50-killmoter record at the Brooklands racecourse in England on September 2, 1924. After a few laps, a rear tire car apart, sending the Sunbeam crashing out of control, Resta’s riding mechanic would receive burns, but Resta was thrown from the car and killed instantly." from kalracing.com City: State: Date: 1915 HWAC# 79840
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
Preview will be at our Auction Location,
3555 Airway Drive Suite 309
Reno, NV 89511
on Wednesday, October 17, from 9:00 am to 5:00 pm or by appointment.
Please call 775-851-1859
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.265% |
Nevada Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
25% |
Additional Fees:
| Fee | Amount | Applicable Locations | Applied To |
| Handling |
5.00
|
Not Applicable
|
This fee applies to the total of the invoice
|
Shipping Details:
SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
Large, heavy or fragile items will incur extra shipping charge. After initial payment we will pack your shipment and print shipping label. We will then re-invoice you for any additional charges.
Please consider extra costs of shipping and handling charges when you make your purchases.
We encourage you to pick up items after the auction. Many items may require special handling and would incur additional handling and shipping costs way beyond those anticipated.
Payment Details:
Due on receipt of invoice.
If paying by Credit Card please call our office at 775-851-1859 to arrange payment.
Accepted Payment Methods:
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Terms and Conditions
This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
1. The placing of a bid shall constitute the bidder’s acceptance of these terms of sale.
2. BUYER’S PREMIUM & INSURANCE: There will be a 25% Buyer’s Premium added to the sale price (hammer) of each lot. We accept cash, checks, money orders or wire transfers, credit cards and PayPal.
3. COINS, CURRENCY AND PRECIOUS METALS, Insurance. The buyer’s commission for this section is 20.5%. Coins and currency shall be defined as any regular Federal issue circulating coins and currency. Tokens are not considered coins. Precious metals shall be defined as ingots, silver or gold rounds, bullion items, gold nuggets. Mineral specimens are not considered under the precious metals category. Commemorative items such as metals and ribbons are not considered coins of precious metals. However, lots that consist entirely of gold or silver of high purity, including commemorative metals, are considered precious metals. Please contact our office if you need clarification on a specific lot.
4. SALES TAX: Sales tax will apply, according to Nevada State law, for any items that ship to or are picked up in Washoe County, Nevada (8.265%) unless a current, valid resale certificate is faxed to us at 775-851-1834 before bids are placed.
5. SHIPPING & HANDLING: Shipping and Handling will be estimated prior to invoicing, based on the size and weight of your purchase. All shipping and handling is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be re-invoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
6. LIVE (FLOOR) BIDDING: Please arrive a few minutes early to check in and receive your bidding paddle. We will open lots with more than one bid at the current high absentee bid or 50% of the low estimate at the auctioneer’s discretion. Please be sure to bid on the correct lots during the live auction. Our auction progress is at a rate of between 60 and 200 lots per hour. An item is not sold until the next lot is announced. (We cannot be responsible for Internet bids that arrive late.) The auctioneer will identify the successful bidder by number and announce the winning bid amount. If you are not sure whether you won the lot or not, it is your responsibility to ask for clarification immediately, prior to the start of the next auction lot. Auctioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale.
7. TELEPHONE BIDDING: Telephone bidding requests MUST be scheduled prior to this auction. If you do not schedule in advance, and choose instead to call on the day of the auction to request a line for bidding, you may find that we are unable to accommodate your request. Please limit your telephone bids to items of value greater than $500, or to a string of items with a similar total.
8. LIVE AUCTION ABSENTEE BIDDING: Mail or FAX Absentee bids for the live auction MUST be received by 5pm Pacific Time the day before the auction. Bids accepted after the cutoff time will be represented live only if an agent is available and will not be considered absentee or given first priority as such. It is your responsibility to submit all lot numbers and bid amounts accurately. Absentee bids MUST be equal to at least 50% of the low estimate if an estimate is provided. Bids on “No Lots” or “Withdrawn” Lots are considered no-bids. Bids made in amounts that do not conform to the bid increment table in item 8 below will be automatically rounded up or down by the computer, or rounded to the nearest proper bid increment at the discretion of the auctioneer. Absentee bids are entered into a computer that will bid live on your behalf at the auction. Absentee bids will compete live against other absentee bids, live Internet bidders, floor bidders and phone bidders.
9. INTERNET BIDDING: Both Absentee and Live Internet bidding are available through our live auction networks. If you wish to bid LIVE via the Internet, you MUST pre-register. A live feed is generally accessible during the auction for those bidding via the Internet. Online bidding remains open through the live auction, and online absentee bids may be placed anytime. Live bidding will open when the auction starts. Internet bidding is offered as a convenience for those who cannot attend the live sale. Please note that there may be delays or interruptions in Internet connectivity that are beyond our control. Attending the live auction or arranging for an agent is the most reliable way to secure your bids.
10. NEW BIDDERS: Bidders unknown to us, who anticipate an expenditure in excess of $20,000, must provide commercial references or a deposit of 25% of the amount to be bid in order for the auction staff to execute bids. Deposits will be credited towards lots won and any balance will be refunded within 10 business days after the auction has concluded. New bidders will be given a spending limit at their initial request to participate. In order to increase this limit, you may be required to provide a letter of authorization from your bank in addition to providing references. Please contact our office at any time if you have questions regarding spending limits or references required to bid.
11. AGENT BIDDING: There are numerous professional agents available to assist you should you require this service. Please contact the office for a list or to arrange for representation on the floor during the live auction. HWAC is not responsible for any acts or omissions by agents acting on behalf of bidders at our auctions.
BE ADVISED: Auction participation through the live Internet bidding site is not 100% foolproof. The technology for this process is always changing, and the operation of it and the corresponding Internet connectivity issues are far beyond our control. Some folks have attempted to use the live Internet bidding process as their primary method of bidding, and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, Internet signals may be delayed, such that bids may not be received in time. We cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live participation is best, followed by phone participation. We will not reopen lots for missed bids.
12. RESERVES: Most of the lots in this auction are unreserved. Gold is generally reserved at or near spot, though it could be slightly below spot.
13. BIDDING INCREMENTS: All bids must be submitted in U.S. dollars and in whole dollar amounts only in the appropriate increments as outlined below. If you choose to submit bids in an increment not listed below, your bid will be rounded to the nearest increment and you will be expected to pay the amount to which the bid was rounded should your bid be the winning bid. If you have any questions about an appropriate bid amount, please call us.
14. BID REDUCTION: All winning absentee bids will be reduced, if necessary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if you submit an absentee bid of $1000 and the next highest competing bid is $250, then you will win the lot for $275.
15. BID INFORMATION: Collectors often ask in advance the price level of a particular lot. We will give out the current competitive high absentee bid until we close the day before the live auction. You may also view absentee bids online at www.holabirdamericana.com. While we try to update the absentee bids as often as necessary, bids received close to the bidding deadline might not be reflected online, and we disclaim any responsibility for any bids made in reliance upon inaccuracies on our website, which may be beyond our control. We do not own any of the live Internet bidding platforms, and thus many aspects of the Internet technology are out of our control.
16. BID CANCELLATION: If you wish to cancel or change a bid after you have submitted your bids to us due to an error, you MUST PHONE us to advise us of this. Bid cancellations through mail, email, or faxes are not advisable. Errors are easy to make. Please call us if you have any questions on this.
17. All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
18. We reserve the right to reject any bid we feel is not made in good faith.
19. INVOICING: Shipping charges will be added to all invoices. Invoices are mailed or emailed within two business days after the close of all portions of the sale. Within 15 calendar days of receipt of invoice, payment is due in full to Holabird Western Americana Collections, 3555 Airway Dr., #308, Reno, NV 89511. LATE FEES MAY BE ADDED IF PAYMENT ARRANGEMENTS ARE NOT MADE WITHIN THOSE 15 DAYS. Sales tax will be added to all sales picked-up after the auction or shipped to Nevada addresses, according to Nevada State law, unless a resale certificate is provided.
20. PAYMENT: We accept Visa, Master Card, American Express, Discover, Money Order/Cashier’s Check, Personal Check or PayPal. Customers wishing to pay by check or money order MUST contact our office for an invoice total before sending payment All returned checks are subject to a $25 fee. Cash received in amounts greater than $10,000 is subject to the filing of IRS form 8300, as required by law.
21. SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All invoices are subject to a minimum shipping and handling charge of $19.00. If additional shipping and handling costs are required, the buyer will be re-invoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
22. NON-PAYMENT: HWAC reserves the right to cancel any invoice not paid in full within 15 days. A cancelled invoice does not relieve the bidder from their obligation to pay seller fees and buyer’s premiums compensating HWAC for its services in conducting the auction. Interest shall run on all outstanding balances at the highest rate permitted by law. HWAC shall have a lien against the merchandise purchased by the bidder, and any other of bidder’s property then held by HWAC or its affiliates, to secure payment of the invoice, and with respect thereto HWAC shall have all the rights of a secured creditor under the Nevada Commercial Code, including but not limited to the right of sale. HWAC may sell the lot(s) securing the invoice to any under bidders in the auction that the lot(s) appeared, or at subsequent private or public sale, or relist the lot(s) in a future auction conducted by HWAC. A defaulting bidder agrees to pay for the reasonable costs of resale (including a 10% seller’s commission, if consigned to an auction conducted by HWAC). The defaulting bidder is liable to pay any difference between his or her total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot(s) less the 10% seller’s commissions, if sold at an HWAC auction. If HWAC refers any invoice to an attorney for collection, the bidder agrees to pay attorney’s fees, court costs, and other collection costs incurred by HWAC. Any bidder who fails to follow the terms of payment will be reported to iCollector and may be barred from participating in future Holabird Western Americana auctions.
23. CONDITION: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot please contact our office at 775-851-1859. Bidders are responsible for understanding the condition of items. Conditions noted are subjective, and may differ in the opinion of different people or collectors.
24. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. ALL SALES ARE FINAL. You may only return any piece that was significantly inaccurately described by calling our office within 10 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. When we receive your bids we will assume you have read the description in the catalog, viewed the image of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person.
25. This sale is being held under the laws of the State of Nevada.
26. HWAC shall not be held responsible for any problem due to the bidder’s failure to follow the rules, terms and conditions of this sale, or any failure to bid due to the loss of the online auction process provided by any of the online auction networks; or missed bids, changed bids or cancelled due the bidder’s failure to follow the proper bidding procedure outlined herein.
27. By placing a bid or otherwise participating in the auction, Bidder accepts these Terms and Conditions, and specifically agrees to the dispute resolution provided herein.
28. HWAC shall not be responsible for consequential damages, incidental damages, compensatory damages, or any other damages arising or claimed to be arising from the auction on any lot. Bidder’s sole remedy for any proven act or omission shall be rescission of sale and refund of the amount paid by Bidder.
29. Any claim, dispute, or controversy in connection with, relating to and/or arising out of the Auction, participation in the Auction, award of lots, damages of claims to lots, descriptions, condition reports, provenance, estimates, return and warranty rights, any interpretation of these Terms and Conditions, any alleged verbal modification of these Terms and Conditions and/or any purported settlement shall be exclusively heard by, and the parties consent to exclusive in personal jurisdiction of, the Superior Court of Washoe County, Nevada. THE PARTIES EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY. Any claim must be brought within one (1) year of the auction from which the claim arose or the claim is waived. In every case, the prevailing party shall be entitled to an award of its attorney’s fees and costs.