Guardian Fire Insurance Co. - Stock Certificate
Inv# IS1028 Stock
Stock printed by H. Anstice & Co. Stationers, N.Y. Unique vignettes! Red 25 cent revenue stamp on stock. In relation to this company, James Monroe McLean (December 8, 1818 – May 13, 1890) was an American insurance executive and banker.McLean was born in New York City on December 8, 1818. He was a son of Cornelius McLean (1787–1853) and Hannah (née Hammond) McLean (d. 1839), who married in 1807. His younger brother was George Washington McLean, who served as Major in command of the Old Guard. His paternal grandparents were Elizabeth (née Swaim) McLean and Charles McLean, a descendant of the Clan Maclean of the Isle of Mull in Scotland. His maternal grandfather was Lt. Col. James Hammond, a prominent member of the First Regiment of Westchester County of the New York Militia, during the Revolutionary War.
After a private school education, he began his career with the Guardian Fire Insurance Company, founded by John Jacob Astor and Robert Lenox (father of James Lenox). In 1847, McLean began working for the Citizens Fire Insurance Company, later serving as Secretary and President for nearly forty years. Beginning in 1860, McLean was elected and served as president of the New York Board of Fire Underwriters for four years. In this role, he was a "prominent factor in creating harmony among local fire insurance companies, and in establishing the present Fire Department." Upon the formation of the National Board of Fire Underwriters in 1866, he served as its first president and was reelected to a second term. Read more at https://en.wikipedia.org/wiki/James_Monroe_McLean
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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