October Legends Closing November 1
This lot is closed for bidding. Bidding ended on 11/2/2014
Offered is a complete stock certificate book for the Philadelphia Athletics franchise, offering a window to the origination of one of the initial American League franchises. It is one of the most spectacular items in existence which relates to the beginning of that storied franchise, which moved from Philadelphia to Kansas City in the 1955 and again moving to Oakland in 1968. These stock certificates represent transactions from 1901 through 1912, and include 99 such certificates. This includes 39 different signatures of Cornelius McGillicuddy (also known as long time owner and manager Connie Mack) book of the club with all certificates intact, dating from 1901 to 1912. The total of 99 stock certificates represents the complete book of original certificates as issued, and is numbered 1 through 99. The first 28 stock certificates are fully executed and signed (including by Connie Mack as “Cornelius McGillicuddy”); the remaining 71 certificates are not filled out or executed but are still original Philadelphia Athletics stock certificates – an extraordinary group in their own right.
The American Base Ball Club of Philadelphia, one of the charter members of the American League in 1901, was incorporated in that same year in the state of Pennsylvania. Offered here is the original Philadelphia Athletics stock certificate book that includes the first 28 fully executed stock certificates that together record the sale (and subsequent reassignments) of 2,715 shares of capital stock ($100 per share) between the years 1901 and 1912. This book originates directly from the family of former A's owner Charles Finley and decades ago was given by Carl Finley (Charlie’s cousin) as a personal gift to Alexander Barket, Sr. an influential Kansas City businessman. Barket was a huge baseball fan, wanted to keep a major league baseball team in Kansas City, and almost bought the franchise from Finley, before Charlie O. moved the team to Oakland. Barket also wanted to buy the new Kansas City Royals, but the team eventually went to long-time Royals owner Ewing Kaufman.
This stock certificate book was given by the Finley family to Barket as appreciation of what he did for the Athletics franchise and Major League Baseball in Kansas City.
All 99 certificates are housed in the hard-bound book, 28 of which have been assigned to shareholders and are duly signed on the front by “Cornelius McGillicuddy” (Connie Mack) as Treasurer. A total of 26 of the fully-executed certificates are counter signed by “B. F. Shibe” as President. Additionally, seven of the certificates, including stock certificate No. 1, are made out either wholly or partially to Cornelius McGillicuddy and feature his signature on the reverse as legally required when he later transferred the stock. An eighth certificate is made out to McGillicuddy's trustee, but has also been signed by McGillicuddy on the reverse in acknowledgment of transfer of the stock.
A tremendous amount of historical information can be learned by studying these certificates. Of special note is that the first three stock certificates are made out jointly to “C. W. Somers and Cornelius McGillicuddy” while certificate #10 is made out to Somers alone. Charles Somers was one of the most important figures in the American League at that time. Not only was he the owner of the Boston Red Sox, but he served as vice president of the American League under Ban Johnson from 1901 through 1916 and was the chief financial backer of Cleveland's franchise at the time. (He later sold the Red Sox and purchased the Indians). Somers had a financial interest in the Philadelphia club as well. It was Somers who initially invested $7,500 in the club (to go along with Mack's $2,500) and he later put up the collateral for the lease on the grounds of the A's home ballpark. Somers has signed each of the certificates on the reverse upon his later transfer of the shares. Another certificate (#15) for 255 shares, dated December 20, 1902, is made out to Ban Johnson, but was later voided, with both McGillicuddy's and Shibe's signatures crossed out in red ink. A vintage, black-fountain pen inscription on the front of the certificate reads “It was intended to send this certificate to B. B. Johnson to hold as trustee but afterwards decided otherwise.” Included among the issued certificates in the book are five made out to Ben Shibe, part-owner of the A's along with Mack (they each owned half the club), one made out to Thomas Shibe (Ben's son), one made out to John Shibe (Ben's son), one made out to Earl McGillicuddy (Mack's son, who enjoyed a brief Major League career with the club and later served as a coach and then part-owner of the club in the 1950s with his brother Roy), one made out to Roy McGillicuddy (Mack's son and later part-owner of the club), one made out to Frank Hough (local sportswriter), and two made out to Samuel Jones (local sportswriter). An official stock transfer document, dated November 13, 1903, is affixed to the interior front cover in which Cornelius McGillicuddy transfers 125 shares of stock over to Jay Turner (A's team attorney) as trustee for McGillicuddy, Sam Jones, and Frank Hough, and gives power of attorney to John Hoffmeister to sell, transfer, or assign his stock. It is signed by McGillicuddy in black fountain pen.
All of the signatures in this book are boldly scripted in blue or black fountain pen, grading “9” or “10”. However, many of the signatures, particularly those of McGillicuddy and Shibe on the front of the certificates, are naturally affected to some extent by cancellation stamps, void notations, and/or cancellation perforations – natural occurrences for the issuance and transfer at various times of these ownership shares. A total of 19 of the 28 actual issued certificates have been canceled or voided. Nearly all of the certificates were once removed from the book and are now rejoined with their corresponding receipt slip by means of adhesive (as is common with corporate stock-certificate books). Certificate No. 1 has come loose from the spine, resulting in moderate paper loss along the left border of the receipt slip (not affecting the stock certificate), but all of the other certificates remain firmly bound in the book. All of the certificates could easily be separated from the book if desired, and the breakup value of this item is tremendous.
The black, hard bound covers are heavily worn and the spine is no longer evident, leaving both covers virtually detached. However, the pages are all still firmly bound together. The issued certificates display moderate handling wear and are in Very Good to Excellent condition overall. The unissued certificates display only the slightest hint of age toning and otherwise are in Near Mint condition.
As stated earlier, the potential break value of this book is enormous. A single Philadelphia Athletics fully executed stock certificate sold in 2008 for almost $2,000. Our consignor purchased this complete book “AS IS” a few years ago, and always appreciated the intact nature and historical significance of this item, however, we understand the new financial nature of our business and want reiterate the value of its parts could certainly outweigh its sum as a whole.
This is an extraordinary archive that is certainly one of a kind, not only for the Athletics franchise, and history of baseball in Philadelphia, but also in regards to the history of baseball and the American League. It is highly probable that not another of these books exists for any other major league franchise, certainly not one from the origination of a franchise at the beginnings of the American League. This stock certificate book literally represents the birth of the Philadelphia Athletics franchise from its infancy days.
There are a total of 39 Connie Mack (as Cornelius McGillicuddy) signatures, 32 Ben Shibe signatures, seven Thomas Shibe signatures, three John Shibe signatures and a handful from Earl and Roy McGillicuddy plus a whole lot of history.