Eckerd Drugs of Florida, Inc. - 1960's Medical & Pharma Stock Certificate
Inv# MP1019 Stock
Stock printed by American Bank Note Company. Rare State! Jack Eckerd (May 16, 1913 – May 19, 2004) was a prominent American entrepreneur and the second-generation proprietor of the Eckerd chain of drugstores. Born in Wilmington, Delaware, he completed his education at Culver Military Academy and the Boeing School of Aeronautics. During World War II, he served as a pilot in the U.S. Army Air Forces, earning three Air Medals and the Presidential Unit Citation for his service. In addition to his business endeavors, Eckerd was active in politics, contributing to both state and national governments for three decades. In 1968, he pioneered the first residential treatment program for troubled adolescent boys. Beginning in the 1950s, he significantly expanded his family's retail drugstore business, establishing Eckerd Drugs as one of the foremost self-service drugstore chains in the United States.
By 1975, Forbes magazine estimated his personal wealth at $150 million. The Eckerd chain, the oldest of the major drugstore companies in the U.S., was originally founded by his father, J. Milton Eckerd, in Erie, Pennsylvania, in 1898. Following his military service, Jack Eckerd initiated a remarkable growth phase for the chain by acquiring three stores in Florida in 1952. The company went public as Jack Eckerd Corp. in 1961, and by the time Eckerd divested his shares in 1986, the chain had expanded to approximately 1,500 locations.
Subsequently, the chain was sold to J.C. Penney, which increased the number of stores to 2,600 before selling to competitors CVS and Jean Coutu. Stores located in ten states, stretching from Florida to Arizona, were rebranded as CVS, while those from Georgia to New York continued under the Eckerd Corporation, managed by Jean Coutu's U.S. division alongside its New England-based Brooks chain. In July 2007, Coutu's 1,549 Eckerd stores across the Mid-Atlantic and New England regions were integrated into the Rite Aid drugstore chain, marking the conclusion of over a century of the Eckerd name in the drug retail industry.
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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