Minneapolis Linen Mills signed by Charles A. PillsburyInv# AG1516 Stock
Stock signed by Charles Alfred Pillsbury (1842-1899), U.S. flour industrialist and the founder & namesake of the Pillsbury Company. He was born in Warner, New Hampshire. He had a modest upbringing graduating from Dartmouth College in 1863, paying for his college education by teaching part-time. Charles was a prominent flour miller of Minneapolis, Minnesota. From 1877-1897, he was Minnesota State Senator and held the chairmanship of the Finance Committee of the Senate. He was responsible for introduction and implementation of legislation, recommended by his uncle, Gov. John S. Pillsbury, for the adjustment of the state debt. Pillsbury worked for six years as clerk and partner in Montreal, Canada, at a mercantile enterprise. During this time, he met his future wife, Mary Ann Stinson, daughter of Capt. Charles Stinson of Goffstown, New Hampshire and his wife Mary Ann Poore. Mr. Pillsbury made a close and thorough study of the methods of flour milling and contemplated better results through the industry's innovative practices in flour processing. At his own mill, Pillsbury discarded the buhr stones, and introduced and improved on the newer practices. He competed with Cadwallader C. Washburn and the Washburn family, Mr. Christian, and other millers in the production of what was called "new process" flour. Pillsbury created his own brand called "Pillsbury's Best." It was claimed that "Pillsbury's Best" was the finest flour in the world, and its production techniques allowed Pillsbury to capture a niche in the marketplace demanding high-quality flour. The use of a series of carefully gauged steel rolls in the crushing of grain into flour effected an entire revolution in all the large flour mills of the United States, as it was efficient and produced excellent quality. It led to important changes in wheat growing, because it created a demand for hard "spring wheat", which had, up to that point, a less-esteemed reputation than that of the softer winter wheat of the South. In 1872, Mr. Pillsbury persuaded his father and his uncle to join him in an expansion of the business and the firm of Charles A. Pillsbury & Co. entered upon a career of remarkable enterprise. A brother, Frederick C. Pillsbury, came into the firm at a later date. Pillsbury introduced a system of company profit sharing in addition to regular wages, as reward for their interest in the success of the business. As a consequence, no strikes ever interrupted the Pillsbury business. In 1889, an English syndicate bought a controlling interest in the largest flouring industries of Minneapolis and the water power at the Falls, and combined them under the name of The Pillsbury-Washburn Flour Mills Co. Mr. Pillsbury remained the manager and one of the three American directors of the entire property. The name of Charles A. Pillsbury & Co. was retained by the former partners, but their operations were confined to the management of The Union and Empire Elevators and to looking after the assets of the firm, which were largely invested in pine forest. Very Rare!
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.