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NJ - Paterson,Passaic County - 1916 - American Salvage Co. Stock Certificate

Currency:USD Category:Collectibles / Western Americana Start Price:150.00 USD Estimated At:300.00 - 500.00 USD
NJ - Paterson,Passaic County - 1916 - American Salvage Co. Stock Certificate
Session D is a Mail-Bid Only Auction. Absentee bids will be accepted only. No live bidding will be allowed. All winners will be contacted after the auction. BIDDING ENDS MONDAY JUNE 27 AT 5PM PACIFIC TIME!!!
One of the true great stock treasures. Incorporated in New Jersey. Cert. #1165, issued at Paterson in 1916 for 50 shares to Arnold Barrett by Clifford C. Bogert, secretary, Willon Alderson, president. Large vignette shows the rescue ship dropping the Sisson Deep Sea Diving Machine down to a sunken ocean liner on the sea floor. The diving vessel was to carry two men with a controlled air supply similar to a submarine. The divers would then be able to drill holes in the sunken ship and attach pontoons to float it to the surface. The company noted that since the beginning of the present great European conflict and with the aid of the modern submarine, a tremendous amount of new tonnage rests at the bottom of the oceans. By 1916, less than 1% of this sunken fleet had been recovered. The company envisioned it’s diving vessel as capable of withstanding 1,000 foot depths, which would allow them to reach most sunken vessels. This vignette is what makes this stock so special, a true find. Black and green on white with gold seal. Has 5 cent U. S. documentary R 200, R 20, revenue stamp, perf. Good.