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Detroit Aircraft Corporation

$250.00

SKU: 3256pu
Product Details

Beautifully engraved stock certificate from the Detroit Aircraft Corporation dating back to the 1930's. This document, which is signed by the company President and Secretary, was printed by the E. A. Wright Bank Note Company, and measures approximately 11 1/4" (w) by 8" (h).

 

This certificate's great vignette features a plane flying head on over a city skyline. Also pictured are a glider-like plane and a blimp. 

 

Fantastic piece!

You will receive the exact certificate pictured.

Historical Context

The Detroit Aircraft Corporation was originally incorporated in 1922 as the Aircraft Development Corporation. Later, the company acquired Mahoney-Ryan in June 1929, renaming it Ryan Aircraft Corporation (famous for building Lindbergh's Spirit of St. Louis). In 1929, the company acquired 87% of Lockheed-Vega Aircraft Company assets, bringing this famous company under their ever-growing umbrella. However, just a few months later the stock market crash plunged the company into the great depression and the company went into receivership.

While the Detroit Aircraft Corporation was later dissolved, going down the tubes in much the same manner as did Thomas-Morse and Berliner-Joyce, the Lockheed name got an unexpected second chance. Only five days after the doors of the corporation had been locked, a miracle took place. A new group of investors bought the assets of the Lockheed Aircraft Corporation division for only $40,000, and the company was brought back from the dead.