Murphy Pacific Marine Salvage Co. - 1966-1971 dated Stock Certificate
Inv# GS6435 StockNew York
Stock printed by American Bank Note Company. Available in Blue, Green or Red. Please specify color. Murphy Pacific Marine Salvage Company was a significant player in the marine salvage industry, notably acquiring the salvage equipment of the Merritt-Chapman & Scott Corporation, which was a pioneer in the field. They held the U.S. Navy's contract for salvage services on the Atlantic and Gulf Coasts, as well as extending into European and Mideast waters. The company was also involved in notable peacetime operations, including the clearance of the Suez Canal in 1974, a project managed by a Salvage Master named Madeo who was later promoted within the company. Records indicate they maintained vessels like the M/V Rescue M and the derrick barge Merritt 400 at their station in Kingston.
In addition to their work with the U.S. Navy, Murphy Pacific Marine Salvage also engaged in ship assist operations and construction. However, they eventually experienced losses in their ship assist business and agreed to sell their tugs. Their involvement in the 1974 Suez Canal wreck clearance demonstrates their capability in managing complex and nationally significant salvage operations. The company's records include specifications for various tugboats, offering a glimpse into their operational history.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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