New London Ship and Engine Co. - Shipping Stock Certificate
Inv# SS1181 Stock
Stock printed by H.K. Brewer & Co., NY.
The New London Ship and Engine Company (NELSECO) was established in Groton, Connecticut as a subsidiary of the Electric Boat Company to manufacture diesel engines.
Electric Boat acquired a license to manufacture MAN diesels, probably in 1909. These were initially manufactured by the Fore River Shipyard of Quincy, Massachusetts, where most of Electric Boat's early submarines were built under subcontract. NELSECO was established in Groton to take over diesel manufacturing from Fore River when difficulties were encountered, finishing the work on engines begun by Fore River. It was a subsidiary of the Electric Boat Company for its entire existence. The E- and F-class submarines, launched 1911–12, were initially equipped with these diesels; they were replaced in 1915 as NELSECO's initial efforts were unsatisfactory. The company was incorporated on 11 October 1910, with production starting in July 1911.
The company built the engines for first diesel powered yacht in America, Idealia, launched by the Electric Launch Company (Elco) in 1912. Idealia was owned by ELCO into 1916 and used for demonstrating the application of diesel engines in yachts. The original Idealia installation was a reversible, air started, two cycle engine with six working cylinders and a two-stage air compression cylinder that was rated at 150 horsepower at 550 revolutions per minute. The original two stroke engine was replaced by a NELSECO 120 horsepower four cycle engine by February 1915.
The company was probably disestablished around 1925, as the last United States S-class submarine was completed in that year, and no subsequent US submarines were equipped with NELSECO engines. Electric Boat had a drought in submarine contracts 1918–1931, which probably caused NELSECO's demise.
Read more at https://en.wikipedia.org/wiki/New_London_Ship_and_Engine_Company
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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