Continental Vending Machine Corp.
Continental Vending Machine Corp.
- In stock
- Inventory on the way
Product Details
Nicely engraved antique stock certificate from the Continental Vending Machine Corp. dating back to the 1960's. This document, which contains the printed signatures of a company President and Secretary, was printed by the Security-Columbian Bank Note Company, and measures approximately 12" (w) by 8" (h).
This certificate's vignette features a female hand selecting a pack of cigarettes from one of the company's machines.
Images
You will receive the exact certificate pictured.
Historical Context
The Continental Vending Machine Corporation was incorporated in Indiana and produced a line of cigarette vending machines. The company's trademarked "Push-A-Pack" Selector Button was the key feature of the units.
The company also manufactured coffee, pastry, candy and sandwich vending machines as well - thoough these came late in the company's history, which was cut short by a scandal.
The company ran into problems when company President Harold Roth came under the scrutiny of the SEC because of some irregular accounting practices.
Continental Vending Machine Corporation (Continental) and Valley Commercial Corporation (Valley) were two corporations controlled by Harold Roth. Continental loaned $3,500,000 to Valley, which subsequently advanced the money to Roth. The loans were called Valley Receivable on Continental’s books. Carl Simon (defendant) was a senior partner with the accounting firm Lybrand, Ross Bros. & Montgomery. Simon and other outside auditors (defendants) reviewed Continental’s financial statements and found that Roth could not repay the loans made by Valley. As a result, Valley would be unable to repay Continental. The auditors asked Roth to transfer collateral to secure the debt. However, 80 percent of the collateral was Continental stock, and $1,000,000 of the collateral was subject to prior liens. The accountants were aware of these facts regarding the collateral but made no mention of the facts on Continental’s audited statements. Further, the accountants did not indicate that the term Valley Receivable represented amounts loaned to Roth. The auditors also failed to note that the amount of Valley Receivable had increased by $400,000 in the time between the close of the fiscal year and the date upon which the auditors certified the financial statements. The auditors were charged with making a false or misleading financial statement. At trial, the defendants asked for specific jury instructions, but this request was denied by the judge. The jury then found the defendants guilty.
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
How will you ship my order and how much do you charge?
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping Information
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.
