American Machine and Foundry Co. - Recreational Equipment Stock Certificate
Inv# GS5070 Stock
Stock printed by American Bank Note Company. American Machine and Foundry (known after 1970 as AMF, Inc.) was one of the United States' largest recreational equipment companies, with diversified products as disparate as garden equipment, atomic reactors, and yachts.
The company was founded in 1900 by Rufus L. Patterson, inventor of the first automated cigarette manufacturing machine. Originally incorporated in New Jersey but operating in Brooklyn, the company began by manufacturing cigarette, baking, and stitching machines. AMF moved into the bowling business after World War II, when AMF automated bowling equipment and bowling centers became profitable business ventures. Bicycle production was added in 1950. The company was once a major manufacturer of products from tennis racquets to research reactors for the US "Atoms for Peace" program. AMF became a major part of what would soon be referred to by US President Dwight D. Eisenhower as "the military-industrial complex" after World War II.
In the late 1950s, the company's vice-chairman was Walter Bedell Smith. He was formerly a US major general, Eisenhower's wartime chief-of-staff, and Harry Truman's ambassador to the Soviet Union. Later he became the fourth director of the Central Intelligence Agency. Read more at https://en.wikipedia.org/wiki/American_Machine_and_Foundry
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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