Kay Copper Corporation - Stock Certificate
Inv# MS1260 Stock
Delaware
Stock printed by Security Bank Note Company, Philadelphia. Mines in Arizona. Please specify color.
Kay Copper Corporation was a reorganization of the Kay Copper Co. The former company got into financial difficulties in mid-1922, where forfeiture satisfied accrued debt. Crew stayed on as management of the mines site. Under new organization the company seemed to thrive well through 1926, at which time legal suite was brought against the company for alleged fraudulent stock sales, forcing the mines to close. As of 1930, plans for reorganization were in the wings. As one of the larger mining companies of its time, the Kay consisted of 153 claims, stretching over 3,182 acres, including mill acreage of 590. It seems that Kay officials couldn't, or chose not to live up to the original share-for-share trade agreement made upon incorporation in 1923. (Ref: Neal, 1926, pp.294-296; 1931, pp.350-352 - Holabird).
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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