Car Lighting and Power Co. - Signed by Isaac L. Rice Jr. - 1922 dated Autograph Stock Certificate
Inv# US1049 Stock
Stock printed by American Bank Note Company, New York. Isaac Leopold Rice (February 22, 1850 – November 2, 1915) was a German-born Jewish American businessman, investor, musicologist, author, and chess patron. As part of a successful career in the manufacturing industry, in 1899 he acquired the Holland Torpedo Boat Company, which was renamed the Electric Boat Company and produced submarines for the U.S. and British navies. It continues today as General Dynamics Electric Boat.
Some of the numerous other companies Rice organized or was involved in included the Electric Vehicle Company, Car Lighting and Power Company, American Casein Company, and the Consolidated Rubber Tire Company. As president of Electric Storage, he became aware of the attempts (despite financial difficulties) since 1896 to deliver the first modern submarines for the US Navy, which ran on electric power while underwater. A year after the 1897 launch of their first vessel, the Holland VI, the management of John Philip Holland and Lewis Nixon (owner of the Crescent Shipyard in New Jersey, where Holland VI was built) found it difficult to finish making the last details operable and were running out of cash. Isaac Rice moved in, taking over and renaming the company as the Electric Boat Company on 7 February 1899. After a few months of negotiations and multiple tests, the United States Navy purchased Holland VI, renamed it USS Holland, and awarded the new company a contract to build its first fleet of Plunger-class submarines. Also in 1899, Rice added the Electric Launch Company (Elco) to his family of companies. Read more at https://en.wikipedia.org/wiki/Isaac_Rice_(businessman)
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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