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Vigorit Powder Stock Certificate, California Dynamite, 1878 (111978)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:300.00 USD Estimated At:600.00 - 1,200.00 USD
Vigorit Powder Stock Certificate, California Dynamite, 1878  (111978)
SOLD
300.00USD+ (75.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Jun 26 @ 13:41UTC-7 : PDT/MST
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Very rare stock certificate from the Vigorit Powder Company issued in 1878 at San Francisco. Cert. #75, issued to W.W. Hobart for 100 shares. The company operated a powder factory at Hercules producing blasting powder and other high explosives. One of it's main competitors was E.I. Dupont de Nemours. In 1904, the Dupont Company offered shareholders of Vigorit the opportunity to exchange their shares in Vigorit for shares of Dupont. By January, 1907, Dupont controlled over 66% of the total shares. Using it's control position, Dupont then forced Vigorit to sell it's plant and properties to Dupont. It then caused the company to liquidate (Congressional Record- House, 1909). This is the most attractive powder company stock we have ever seen. Extremely rare, there are only three known to exist. Most shareholders after 1904 would have swapped their shares for Dupont shares, and that's why these are so rare. This shareholder decided not to exchange these shares. Pink tint to the paper, printed by Bacon & Co, San Francisco. Center vignette of a miner's arm holding a hammer and a vignette at bottom left of a miner pushing an ore car outside the portal. In VF condition. Uncancelled.

Provenance:
Country (if not USA):
State: California
City/County: Contra Costa County
Date: