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50 Pieces of Studebaker-Worthington, Inc. - 50 Stock Certificates dated 1970's - Automotive Company

Inv# WW1033   Stock
50 Pieces of Studebaker-Worthington, Inc. - 50 Stock Certificates dated 1970's - Automotive Company
Years: 1970's
Color: Red or Blue

Modern female figure with globe by American Bank Note. Mixed colors. 50 pieces. Studebaker-Worthington was a diversified American manufacturer created in 1967 through a merger of Studebaker, Wagner Electric and Worthington Corporation. The company was in turn acquired by McGraw-Edison in 1979. Founded in 1852, Studebaker began as a wagon manufacturer which eventually entered the automobile business in the early 1900s. However, since the early 1950s sales had been steadily declining resulting in a lack of funds to develop new models. In December 1963 Randolph H. Guthrie, chairman of Studebaker, announced that the company was closing down its automobile factory in South Bend Indiana, where it had made cars for 50 years, but would continue to make cars in Hamilton, Ontario. In 1965 auto sales were slightly less than $45 million. On 4 March 1966 Studebaker announced the termination of auto production after less than 9,000 1966 models had been produced. Management said the decision was due to "heavy and irreversible losses" in the automobile division.

Business results for 1966 had total sales of $172 million, excluding automobile sales. Automobile sales for 1965 had been slightly less than $45 million. Net income for 1966 was $16.4 million, much more than the previous year. The company was now profitable, and also had tax loss carry-forwards that made it an attractive target for a takeover. Studebaker further improved its position by selling off some unprofitable businesses. The most profitable of the divisions that remained were Clarke Floor Machines, Gravely Tractor, Schaefer Chemical Compounds (later to become STP Corporation) and Onan. Read more at

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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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $120.00