Walter Kidde and Co., Inc. - Specimen Stock Certificate
Inv# SE1531
Stock
Specimen Stock, Printed by American Bank Note Company. Kidde, a subsidiary of Carrier Global, is a renowned manufacturer of fire detection and suppression equipment, as well as smoke and CO alarm units. Headquartered in Mebane, North Carolina, Kidde is known for being one of America's largest producers of smoke alarms and fire safety products. The company's roots date back to 1917, when it was founded by Walter Kidde in the United States. Despite his Czech ancestry, Walter Kidde is unrelated to the Danish author Harald Kidde. With only $300 in savings, Walter Kidde established Kidde Inc. in 1917. The company, initially known as Walter Kidde & Company, acquired the rights to the "Rich" system for detecting fires on board ships in 1918.
In 1923, Kidde obtained the patent rights for a siphon device that facilitated the rapid release of carbon dioxide, thereby enhancing the functionality of fire extinguishers. This led to the production of the first portable carbon dioxide fire extinguisher in 1924 and the installation of the first built-in industrial fire extinguishing system in 1925. Subsequently, in 1926, Walter Kidde & Company collaborated with the Navy to design a system for safeguarding airplane engines against fires. The company's first overseas operation was established in British Northolt in 1935, marking the beginning of its expansion to Africa, Asia, Europe, and South America.
Following Walter Kidde's passing in 1943, his son John assumed leadership of the company, which, at the time, employed over 5,000 individuals and generated more than $60 million in war supplies. Post-World War II, the company experienced a notable decline in sales. In the 1950s, Kidde diversified into machinery and tool manufacturing, consumer and medical siphon devices, and aircraft accessories. Robert L. Dickinson was appointed as the company's president in 1961, while Fred Sullivan, an officer and director of Litton Industries, succeeded Dickinson in January 1964 and eventually took over as chairman, following John Kidde.
Between 1964 and 1968, Kidde's annual revenues surged from $40 million to $400 million, earning the company a place on the Fortune 500 list at position 283 in 1966. In 1968, the company was incorporated as Kidde & Company, Inc. Notably, Kidde acquired the Spartus Corporation, a manufacturer of clocks and camera equipment based in Louisville, Mississippi, in 1970 for $24 million (equivalent to $188.3 million in 2023).
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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