|Early Collins Stock Certificates
by: Larry Tjaden
When Arthur's home-based manufacturing company gradually expanded, it became apparent that his business entity should be an s-corporation - with all of the legitimacy and protection provided within.
Arthur and his father, Merle (M. H.) incorporated their new company within the state of Delaware. At the time, Delaware was the "makes financial sense" state, because of its lower corporate tax laws. They filed on September 9, 1933, and the Collins Radio Comany became a legitimate corporation.
The stock distribution of the original Delaware Corporation's 250 shares were as follows:
Later, in 1937, the company decided to change its corporate registration from Delaware to Iowa, this action also entailed re-issuing the existing stock certificate paperwork from old Delaware shares to new Iowa shares.
The original number of 250 shares were transferred on May 18, 1937, now valued at $295.23 apiece. In 1940 an additional 72 shares were issued, 36 each to Arthur and Merle.
Again, this was a privately held company where the share certificates were not distributed far from the original book. Only a couple of the them have fold marks where they were mailed to their owners.
Blank Certificate - Iowa Corporation
Here is an example of a certificate after it was re-attached to the master book. The pages had to be removed so they could be completed, both front and back, with a typewriter. Note that all certificates have been "cancelled" and received official United States Internal Revenue Documentary stamps when reassigned or cashed-in.
Certificate number 1 was created from the Delaware-based stock; and later, transferred to Arthur A. Collins as certificate number 5, below.
Certificate number 5 carries Arthur's name/ownership.
Share numbers 1 through 4 were used to transfer the Delaware stock to the new Iowa-based corporation. Ownership was then immediately moved forward to Arthur, Merle, Margaret and Faith. Notice that Margaret and Faith were both assigned a 1/2-share, in preparation for Mr. Herdon's single share. Share number 11 was assigned to W. K. Herdon, who could possibly be the first person, outside the family, to own stock - later W. J. Barkley will receive 1 share.
I tried a little research on W. K. Herdon of 6521 Wilshire Blvd., Los Angeles, Calif., but to no avail.
Mr. William J. Barkley joined the company March 1, 1935 as Vice-president and General Sales Manager, working out of his office in New York City. He retired in 1955 after serving the company for twenty years.
W. J. Barkley's share was returned to the book but there is no evidence, by surrender or transfer, that the stock was sold, however it was tagged as "cancelled"
Share number 8 is interesting in that one Mary R. Andrews made a claim to one of Merle's shares of stock. The indebtedness must have been settled by other means because there is no evidence of her receiving a share.
Below, is an attempt to show the distribution, and change of ownership, of all 322 shares - up to the end of the book in 1944 when Arthur, serving as the executor of his dad's estate, moved 134 shares to his name.
|Click on the No., on left, to view the certificate. Use your browser's 'go-back' button to return.|
|No.||Shares||Date||Issued To||Transferred From||Origional Certificate No.||No. of Origional Shares||New Certificate No.||Surrender Date||Surrendered To|
|1||1||18may1937||Collins Radio Co.||Delaware Stock||5||18may1937||Arthur A. Collins|
|2||124||18may1937||Collins Radio Co.||Delaware Stock||6 & 7||18may1937||Margaret V. D. Collins|
|3||1||18may1937||Collins Radio Co.||Delaware Stock||8||18may1937||M. H. Collins|
|4||124||18may1937||Collins Radio Co.||Delaware Stock||9 & 10||18may1937||Faith A. Collins|
|5||1||18may1937||Arthur A. Collins||Collins Radio Co.||1||1||5|
|6||123½||18may1937||Margaret V. D. Collins||Collins Radio Co.||2||124||5|
|7||½||18may1937||Margaret V. D. Collins||Collins Radio Co.||2||124||11||12oct1937||W. K. Herndon|
|8||1||18may1937||M. H. Collins||Collins Radio Co.||3||1|
|9||123½||18may1937||Faith A. Collins||Collins Radio Co.||4||124|
|10||½||18may1937||Faith A. Collins||Collins Radio Co.||4||124||11||12oct1937||W. K. Herndon|
|11||1||12oct1937||W. K. Herndon||Margaret & Faith Collins||7 & 10||½ & ½|
|12||½||12oct1937||Margaret V. D. Collins||W. K. Herndon||11||1|
|13||½||12oct1937||Faith A. Collins||W. K. Herndon||11||1|
|14||1||5jan1940||W. J. Barkley||Margaret & Faith Collins||12 & 13||½ & ½|
|15||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|16||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|17||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|18||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|19||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|20||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|21||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|22||10||15feb1940||M. H. Collins||Faith A. Collins||9||123½|
|23||10||15feb1940||Faith A.. Collins||Faith A. Collins||9||123½|
|24||10||15feb1940||Faith A.. Collins||Faith A. Collins||9||123½|
|25||10||15feb1940||Faith A.. Collins||Faith A. Collins||9||123½|
|26||10||15feb1940||Faith A.. Collins||Faith A. Collins||9||123½|
|27||3½||15feb1940||Faith A.. Collins||Faith A. Collins||9||123½|
|28||36||7nov1940||M. H. Collins||Collins Radio Co.|
|29||36||7nov1940||Arthur A. Collins||Collins Radio Co.|
|30||24||18dec1941||Arthur A. Collins||M. H. Collins||28||36||Arthur A. Collins|
|31||12||18dec1941||Arthur A. Collins||M. H. Collins||28||36||Arthur A. Collins|
|32||2||18dec1941||Arthur A. Collins||Faith A. Collins||27||3½||Arthur A. Collins|
|33||1½||18dec1941||Arthur A. Collins||Faith A. Collins||27||3½||Arthur A. Collins|
|34||2||21dec1941||Arthur A. Collins||M. H. & Faith A. Collins||8 & 33||1 & 1½||Arthur A. Collins|
|35||½||31dec1941||Arthur A. Collins||Faith A. Collins||33||1½||Arthur A. Collins|
|36||80||15jul1943||Arthur A. Collins||M. H. Collins||15 thru 22||10 each||Arthur A. Collins|
|37||12||28mar1944||Arthur A. Collins||M. H. Collins||31||12||Arthur A. Collins|