Nicely engraved antique stock certificate from Vornado, Inc. dating back to the 1960's. This document, which carries the printed signatures of the company President and Secretary, was printed by the Federated Bank Note Company and measures approximately 12" (w) by 8" (h).
The vignette on this piece features a female figure in front of an office building.
The origins of the company can be traced back to the Two Guys discount store chain, founded in 1947 by brothers Sidney and Herbert Hubschman. In 1959, Two Guys acquired O. A. Sutton Corporation, manufacturers of the Vornado line of electric fans, and the company was renamed Vornado Inc.
By 1964, the company operated over 200 stores. In the 1970s, Vornado began divesting its retail operations. In 1978, the company sold 80 Two Guys locations in California.
In 1980, Interstate Properties Inc., a real estate development company controlled by Steven Roth, acquired an 18% stake in Vornado, since Roth became interested in the company's real estate holdings. In 1981, Interstate Properties took control of the firm after winning a proxy struggle against existing management and closed additional stores, reducing the number of stores in operation to 12.
In 1986, Interstate Properties and Donald Trump each bought approximately 20% of Alexander's, a failing retailer whose real estate holdings included a store that occupied the entire block between East 58th and 59th streets and Lexington and Third Avenues in Manhattan.
In 1988, they each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for a personal loan from Citicorp and in 1991, Trump was forced to turn over his holdings to Citibank.
In 1992, Roth and Alexander's creditors forced Alexander's into bankruptcy.
Alexander's emerged from bankruptcy in 1993 as a real estate investment trust. That same year, Vornado Inc. was converted into a REIT, Vornado Realty Trust. In 1995, Vornado bought Citicorp's interest in Alexander's.
In April 1997, the company acquired a company owned by Bernard H. Mendik in a $654 million stock transaction that added a large portfolio of office buildings in Manhattan to Vornado's assets. Mendik became co-chairman of Vornado until his resignation in October 1998.
On February 15, 2001, the Port Authority announced that Vornado Realty Trust had won the bid for a 99-year lease for the World Trade Center, offering $3.25 billion. Silverstein Properties was outbid by $30 million by Vornado. However, Vornado balked over lease terms and possible tax liabilities. Silverstein signed a lease for the World Trade Center in April 2001, five months before the September 11 attacks.
In 2005, the company bought a 32.5% interest in Toys "R" Us. Toys "R" Us filed bankruptcy in 2018 and the investment was written off.
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.