Posted 10 years ago
My paternal grandfather paid $500 for 5 shares in this tool company in 1921. This was a huge amount of money back in 1921. This company ended up going "belly up" in the crash of 1929, ending all future purchases of stock by granddaddy. I remember him telling the story of this buy and how, had he got out just a few months earlier, these 5 shares were worth a little over $1000 a share. Just goes to show what greed and wanting to make just a little more will do to a persons investment. I have not investigated to see if this certificate may be one that another company took over the assets of this company and thus this $500 could be worth a substantial amount more than the original $500. The more I think about it, the more it makes me want to investigate it. It sure would be nice to find out GE or Lockheed Martin now owns the assets of this former company and thus the stock is worth millions of dollars today. Talk about "hitting the lottery".