Samuel Insull, Jr. signed Insull Utility Investments Inc. - 1930 dated Autograph Stock Certificate (Uncanceled)
Inv# AG1091 Stock
SAMUEL INSULL, JR., Son of Samuel Insull, continued his father's development of the utility businesses. Nice uncanceled signature at front as President on this Insull Utility Investments, Inc. Illinois stock. Quite Scarce! Excellent Condition.
Samuel Insull (November 11, 1859 – July 16, 1938) was a British business magnate. He was an innovator and investor based in Chicago who helped create an integrated electrical infrastructure in the United States. Insull created holding companies that purchased utilities and railroads. Insull was responsible for the building of the Chicago Civic Opera House in 1929. Due to the Great Depression, his vast Midwest holding company empire collapsed, and he was accused of profiting personally by selling worthless stock to unsuspecting investors who trusted him because of his position and reputation. Following a seven-week trial, he and 16 co-defendants were acquitted of all charges after two hours of jury deliberation. Read more at https://en.wikipedia.org/wiki/Samuel_Insull
Excerpt from NY Times:
Samuel Insull Jr., an insurance executive and son of the one-time billionaire utility magnate, is dead at the age of 82. Mr. Insull, a resident of the Chicago suburb of Geneva, died Saturday in a nursing home. The Insull fortune, amassed by Samuel Insull Sr., collapsed in the Depression. At its zenith, the younger Mr. Insull estimated his personal worth at $13.6 million. He was a director and vice chairman of dozens of the companies his father controlled. The $3 billion Insull empire included Chicago's elevated rail system, gas companies, what became Commonwealth Edison and more than 140 other companies. At one point in the 1920's, the elder Mr.Insull's companies produced one-tenth of all the electricity in the country. Thousands of investors lost money when the businesses failed.
Read more at https://www.nytimes.com/1983/01/10/obituaries/samuel-insull-jr-82-son-of-utility-magnate.html
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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