Condition: In fine condition.
Book ID: 27396
Description19.5 x 29 cm, printed by the Franklin Lee Division of the American Bank Note Company.
CommentsA certificate for 100 shares of common stock in the Baltimore Baseball Club, one of the last baseball organizations to be publically held and traded, albeit the vast majority of the stock was owned by one family and the voting rights of the other stockholders were limited. When this certificate was issued the shares were selling in the over-the-counter exchange for $6.00 each. There were 200,000 shares outstanding which translated into a 1.2 million marketplace valuation of the company, about ten percent of its actual fair market value. The Orioles went to the World Series in 1979 and the Baltimore Baseball Club, Inc., paid its shareholders a dividend from the profits - even though they lost to the Pirates - well in excess of $6.00 per share. Edward Bennett Williams bought the team early the next year for around twelve million dollars, and each stock holder of record received about $60.00 per share. But they did not recall or cancel the certificates, and hence they appear in the marketplace from time to time. This one has been with its original owner since the shares were purchased in 1978, one of the best investments he ever made, in terms of percentages.