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659

Walt Disney

Currency:USD Category:Collectibles / Autographs Start Price:NA Estimated At:1,200.00 - 1,500.00 USD
Walt Disney

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Auction Date:2011 Oct 12 @ 18:00 (UTC-05:00 : EST/CDT)
Location:5 Rt 101A Suite 5, Amherst, New Hampshire, 03031, United States
ALS - Autograph Letter Signed
ANS - Autograph Note Signed
AQS - Autograph Quotation Signed
AMQS - Autograph Musical Quotation Signed
DS - Document Signed
FDC - First Day Cover
Inscribed - “Personalized”
ISP - Inscribed Signed Photograph
LS - Letter Signed
SP - Signed Photograph
TLS - Typed Letter Signed
DS, signed “Walter E. Disney,” one onionskin page, 8.5 x 13, March 29, 1940. Four days before taking his company public, Disney is named president of his production company. In part: “The undersigned, Walter E. Disney, does hereby certify that he is the duly elected, qualified and acting president of Walt Disney Productions, a corporation organized and existing under and by virtue of the laws of the State of California; that there is attached hereto a full, true and correct copy of the second amendment to the registration statement relating to the 6% Cumulative Convertible Preferred Stock of said corporation as filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933.” This historic document has been stamped by the California Secretary of State's office ‘Received Apr – 1 1940.’ In fine condition, with central horizontal filing fold, two staple holes and very light wrinkling. Accompanied by a certificate of authenticity from Phil Sears.

Rumors began swirling in February of 1940 that Walt Disney Studios was going to go public, an avenue that Disney had always said he wouldn’t pursue, feeling that the ‘business’ side of motion pictures always got in the way of creativity. After borrowing money from Bank of America in 1937 to finish Snow White and the Seven Dwarfs, the animated feature was released to a wildly successful reception in 1938. The studio was unable to capitalize on the picture’s initial success with a follow-up venture, as Disney had hesitated to put any new feature film into full production. The start of World War II in 1939 and production problems with Pinocchio further muddied the financial waters.

Although Disney had, up to that point, never operated by standard business procedures, he was forced to reconsider the future profits of his features by 1940. This led him to do what he had always wanted to avoid—taking his company public -a required action to bring Walt's ambitious slate of full-length animated films to life. Eighteen months prior to drawing this agreement, Walt and Roy reorganized their company and created Walt Disney Productions Incorporated, with the shares being held by Walt and Roy and their wives. With this document, Walt Disney finishes some of the last legal details before the initial public offering four days later, and certifies with his signature that he is the President of Walt Disney Productions.
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