Kinney National Service, Inc. - 1961 dated Specimen Stock Certificate

Specimen Stock printed by Security-Columbian Banknote Company. 

Kinney Services Inc. was a conglomerate in the American mass media and service industry, situated in New York City. Initially established as a holding company for a funeral parlor and a parking enterprise, it expanded into the cleaning sector and merged with National Cleaning Contractors (established in 1886), resulting in its reincorporation as Kinney National Service Inc. in 1966. Following the acquisition of several entertainment firms, Kinney Services divested the majority of its non-media assets to National Kinney Corporation and was ultimately succeeded by Warner Communications.

In the early 1950s, Steve Ross entered into marriage with a member of the affluent Rosenthal Family, who managed the Riverside Memorial Chapel, and became closely associated with Edward Rosenthal, the then-president of Riverside and Steve's father-in-law. Steve was employed at Riverside, and in 1958, control of the business was handed over to him. To generate additional revenue, Steve began renting out the chapel's limousines during the night, and the income he earned enabled him to establish a car rental business named Abbey-Rent-a-Car. However, its operations were unprofitable, and by 1959, it was on the verge of closure. Steve negotiated an agreement with Kinney Parking, a New Jersey-based parking company, to provide his rental business with a branding license and complimentary parking, which led to the renaming of the car rental to Kinney System Rent-A-Car and its transformation into a joint venture between Riverside and Kinney Parking. In the early 1960s, Steve aspired to create a large conglomerate and take it public on the stock exchange. Despite facing some opposition, he merged the businesses under a new entity called Kinney Service Corporation in 1961. The new company included Kinney Parking, Riverside Memorial, Kinney Rent-A-Car, and City Service Cleaning Contractors, a closely held family business.

Read More

Read Less