Temagami-Cobalt Mines, Ltd. - 1908 or 1909 dated Stock Certificate
Inv# MS3519 Stock
Stock printed by Broun-Green Co., NY. Great coloring! From https://www.mininghistoryassociation.org/Journal/MHJ-v25-2018-Baldwin.pdf:
The evidence revealed that Hawthorne and Freeman had misled investors into purchasing stock in Temagami-Cobalt Mines and Elk Lake-Cobalt Mines by falsely asserting that the companies would begin shipping ore within ninety days, even though the mines had never produced any ore. They also concealed that the mines were located far from the silver-producing areas in Cobalt, with some properties situated up to fifty miles away.
Though none of the defendants admitted guilt, a grand jury indicted them under Section 215 of the United States Criminal Code for defrauding the public. The 153-page indictment, dated January 5, 1912, accused the four men of deliberately overstating the value of Hawthorne Silver and Iron Mines, Temagami-Cobalt Mines, Elk Lake-Cobalt Mines, and Montreal-James Mines, and of employing fraudulent tactics using the federal mail system. The attorney general denounced the group as "the most notorious gang of swindlers that [has] ever infested New York."
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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