Parke, Davis and Co. - 1930's dated Pharmaceutical Company Stock Certificate
Inv# MP1004A Stock
Stock printed by Columbian Bank Note Co., Chicago. Parke-Davis is a subsidiary of the pharmaceutical company Pfizer. Although Parke, Davis & Co. is no longer an independent corporation, it was once America's oldest and largest drug maker, and played an important role in medical history. In 1970 Parke-Davis was acquired by Warner-Lambert, which in turn was acquired by Pfizer in 2000. Parke, Davis and Company was founded in Detroit, Michigan by Dr. Samuel P. Duffield, a physician and pharmacist. In 1860, Dr. Duffield owned a small drugstore at the corner of Gratiot and Woodward Avenues. Dr. Duffield made a variety of pharmaceutical preparations, including Hoffman’s anodyne and mercurial ointment, but was overwhelmed by the operations of the business.
Dr. Duffield and Hervey Coke Parke formed a partnership in October 1866, with George S. Davis becoming a third partner in 1867. Parke was a businessman looking for business opportunities and Davis, an ambitious man with skills in sales. Duffield withdrew in 1869 because of poor health and an interest in practicing medicine. The partnership adopted the name Parke, Davis or Parke-Davis in 1871, and was formally incorporated as Parke, Davis & Company in 1875. In 1871, the company sent expeditions to Central and South America and the West Indies in search of medicinal plants. The company produced an herbal laxative drug Cascara found from Native Americans in the Pacific Northwest. Read more at https://en.wikipedia.org/wiki/Parke-Davis
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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