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Real Silk Hosiery Mills, Incorporated

$18.00

SKU: 5139
Product Details

Beautifully engraved antique stock certificate from Real Silk Hosiery Mills, Incorporated dating back to the 1950's. This document, which contains the printed signatures of a company President and 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 an allegorical female figure and a lion. Many other intricate details appear in the background.

You will receive the exact certificate pictured.

    Historical Context

    Real Silk Hosiery Mills was founded in Indianapolis 1922 by J.A. and L.L. Goodman. The company ran knitting mills which manufactured hosiery, lingerie, and underwear. At its peak, the company's sales volume averaged more than one million dozen pairs of women's hosiery a year. In addition, Real Silk owned plants in Linton, Indiana, Georgia, and Mississippi.

    The company ran into financial difficulties in the early 1930s as a result of the Great Depression, and control was assumed by a bank committee. Real Silk's financial situation began to improve shortly thereafter and Gustav Efroymson assumed control of the company in 1932. Difficulties soon occurred with labor over wage increases which resulted in a strike in April and May, 1934, that included the arrests of sixteen strikers in Indianapolis. The amount of company profits declined in the early 1940s as a result of the need for silk during World War II, although the company was instrumental in the manufacturing of parachutes for bombs as well as hosiery for both male and female military personnel.

    After a post-war profit increase, the financial situation again declined in the early 1950s. Gustav Efroymson died in 1946, and control of the company passed to his son, Robert. Under Robert Efroymson's control, the company first closed its manufacturing operations in Indianapolis and Dalton, Georgia, and a short time later closed all other manufacturing operations as well. All the machinery was sold except that which was related to direct-to-consumer selling, and the Indianapolis plant, which was located at 611 N. Park was leased to a printing company. Robert Efroymson also directed the retiring of all preferred and some common stock and invested the surplus funds in securities.

    In 1957 Real Silk became registered with the Securities and Exchange Commission as an investment company, although they continued the door to door selling of hosiery, lingerie, and other clothing products on a national scale.

    The former Indianapolis plant was converted into apartments in the late 1980s.

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