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William Cramp and Sons Ship and Engine Building Co. - Stock Certificate

Inv# SS1340   Stock
William Cramp and Sons Ship and Engine Building Co. - Stock Certificate
State(s): Pennsylvania
Years: 1940

Stock printed by American Bank Note Company. Great vignette!

William Cramp & Sons Shipbuilding Company (also known as William Cramp & Sons Ship & Engine Building Company) of Philadelphia was founded in 1830 by William Cramp, and was the preeminent U.S. iron shipbuilder of the late 19th century.

William Cramp was born in Kensington, Philadelphia in 1807. In 1855, his sons Charles Henry (born 1828) and William C., became partners with their father. In 1872, his other sons Samuel H., Jacob C. and Theodore were taken into the firm. The company was incorporated under the name "The William Cramp and Sons' Iron Shipbuilding and Engineering Company."

The pilot boat Thomas Howard was built by the Cramp shipyard in 1870 for the Delaware Bay & River pilots. She was one of the Philadelphia port's fastest pilot boats.

In 1890 the company built the battleships USS Indiana and USS Massachusetts, armored cruiser USS New York, and protected cruiser USS Columbia. Three of these ships took a part in the battle with the Spanish fleet in 1898 at Santiago de Cuba. The victory in this battle heralded America's emergence as a great power. The American Shipping and Commercial Corporation bought the yard in 1919 but closed it in 1927 as fewer ships were ordered by the U.S. Navy after passage of the Naval Limitations Treaty in 1923.

In 1940, the Navy spent $22 million to reopen the yard as Cramp Shipbuilding to build cruisers and submarines. Cramp used the long slipways to construct two submarines at a time, with the intention of launching them simultaneously. However, the shipyard's submarine construction program was not especially successful, as poor management hindered the delivery of the boats. The first delivery was made two years after keel laying, and fitting out was then done by Portsmouth Navy Yard. The best construction time for a submarine was 644 days.

Cramp closed in 1947 and the site, on the Delaware River in Philadelphia's Port Richmond neighborhood still sits empty.

Vessels built by the firm that are listed on the U.S. National Register of Historic Places include:

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Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
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