Cannon Mills Co. - Textile Manufacturing Company Specimen Stock Certificate
Inv# SE1153 Stock
Specimen Stock printed by American Bank Note Company. The Cannon Mills Company was an American textile manufacturing company based in Kannapolis, North Carolina, that mainly produced towels and bed sheets. Founded in 1887 by James William Cannon, by 1914 the company was the largest towel and sheets manufacturer in the world. Cannon remained family-owned until 1982 when it was sold to David H. Murdock. Murdock sold the company to Fieldcrest in 1985, becoming Fieldcrest-Cannon. The company was sold to Pillowtex Corporation in 1997, which entered bankruptcy in July 2003. The remaining Cannon brands were purchased by the Iconix Brand Group.
In 1887 James William Cannon founded the Cannon Manufacturing Company in Kannapolis, North Carolina. His goal was to produce a basic textile product instead of yarn or another intermediate material. His company produced towels that were sold under the brand name "Cannon Towels". Ten years later, he opened another mill in Concord, North Carolina. Read more at https://en.wikipedia.org/wiki/Cannon_Mills
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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