Elgin National Watch Co. - 1900's-30's dated Timepiece Stock Certificate - Watch Maker from 1864 to 1968
Inv# GS1106 Stock
General Stock printed by Western Bank Note Company, Chicago. Please specify color.
Very famous watch makers. Small vignette of figure holding a clock & another of an eagle perched on a clock. Rare! Important!!! The Elgin National Watch Company, widely recognized as the Elgin Watch Company, was a prominent American watch manufacturer operating from 1864 until 1968. The company marketed its timepieces under the brands Elgin, Lord Elgin, and Lady Elgin. For nearly a century, its manufacturing facility located in Elgin, Illinois, stood as the largest dedicated watchmaking site globally. Initially incorporated in August 1864 as the National Watch Company in Chicago, Illinois, the founders included Philo Carpenter, Howard Z. Culver, Benjamin W. Raymond, George M. Wheeler, Thomas S. Dickerson, and W. Robbins. In September of that year, the founders visited the Waltham Watch Company in Waltham, Massachusetts, where they successfully persuaded seven of Waltham's watchmakers to join their new enterprise.
The burgeoning city of Elgin, situated approximately 30 miles northwest of Chicago, was selected as the location for the factory. As part of the agreement, the city was requested to provide 35 acres (142,000 m²) of land for the factory's construction. A neglected farm was identified for this purpose; however, the owners insisted on selling the entire 71 acres for $3,550. Subsequently, four local businessmen agreed to purchase the land and donated the necessary 35 acres to the watch company. The company underwent reorganization in April 1865, and the factory was completed in 1866. The first movement, named the B.W. Raymond in tribute to Benjamin W. Raymond, was delivered in 1867 and featured an 18-size, full plate design. In 1869, the National Watch Company received the award for "Best Watches, Illinois Manufacture" at the 17th Annual Illinois State Fair, earning a silver medal. In 1874, the company officially adopted the name Elgin National Watch Company, as the Elgin brand had become widely associated with its timepieces.
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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