Lane Drug Stores, Inc.
Lane Drug Stores, Inc.
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- Inventory on the way
Beautifully engraved antique stock certificate from Lane Drug Stores, Inc. dating back to the 1920's. This document, which is signed by the company Assistant Secretary, was printed by the American Bank Note Company, and measures approximately 11 1/2" (w) by 7 1/2" (h).
This certificate's vignette features a pair of allegorical female figures atop a globe. They are flanked by a train and some ships.
You will receive the exact certificate pictured.
The first Lane's opened at the corner of Adams and Erie Streets in downtown Toledo, Ohio, across from the Lucas County courthouse, in 1922. Clerks would retrieve items for customers from tall shelves accessed by ladders hanging from the ceilings. Stores were added over the next several years, including a location on Summit Street across from the popular Tiedtke's department store. In 1938, Lane's opened its first air conditioned superstore on Sylvania Avenue allowing customers the convenience of self-service and a soda fountain.
In 1938, the six existing Lane's stores were sold to the K-W Drug Company of Cleveland, Ohio. In 1956, the Amster family of Cleveland sold the company to the A.C. Israel Commodity Company of New York, although the Amster family continued to manage the stores until 1970. In 1970, Lane's established a working relationship with Schuman Drug of Canton, Ohio. Sheldon Fantle of Schuman's became president of the Lane Drug Company and moved the base from New York to Toledo. At that time the company operated 106 drug stores in five states, including Ohio, Pennsylvania, West Virginia, Alabama, and Georgia. In 1972, Lane's merged with the 25-store Schuman Drug and Dynamic Discount Drug chain, and purchased a 22% interest in People's Drug of Alexandria, Virginia.
In 1976, Lane's merged with People's Drug Stores. Sheldon Fantle referred to the merger as "the minnow swallowing the whale" since the 250 store-People's chain was purchased by the smaller Lane Drug Company.
Following the People's Drug acquisition, Sheldon Fantle became president and chief executive officer of Peoples Drug Stores, Inc. and Stephen Schuman became president of Lane's. In 1980 Schuman was named a senior vice president of Peoples Drug, and Jeffrey Fantle, Sheldon's son, became president of Lane's. Sheldon Fantle was also elected chairman of the board of the National Association of Chain Drug Stores, and in 1983, Melvin Wilczynski, Lane's Vice President of Professional Services, was named to a four-year term on the Ohio State Board of Pharmacy. In 1985, A. C. Israel sold the Peoples chain and all subsidiaries, including Lane's, to Imasco, a Canadian firm which was itself a subsidiary of BAT (British American Tobacco). In 1987, Sheldon Fantle retired as head of Peoples, Jeffrey Fantle became senior vice president of Peoples, and George R. Hampu was named president of Lane's.
On April 10, 1989, the 114-unit Lane's chain was purchased by Rite Aid.
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