Detroit Aircraft Corporation
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Certificate Details
Product Details



Detroit Aircraft Corporation
Certificate Type
Common Capital Stock
Date Issued
August 3, 1934
Canceled
No
Printer
E. A. Wright Bank Note Company
Signatures
Hand signed
Approximate Size
11 1/4" (w) by 8" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
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.