Detroit Aircraft Corporation

Detroit Aircraft Corporation
Item# 3256

The Detroit Aircraft Corporation was originally incorporated in 1922 as the Aircraft Development Corporation. Later, the company acquired Mahoney-Ryan in June 1929, renaming it Ryan Aircraft Corporation (famous for building Lindbergh's Spirit of St. Louis). In 1929, the company acquired 87% of Lockheed-Vega Aircraft Company assets, bringing this famous company under their ever-growing umbrella. However, just a few months later the stock market crash plunged the company into the great depression and the company went into receivership. While the Detroit Aircraft Corporation was later dissolved, going down the tubes in much the same manner as did Thomas-Morse and Berliner-Joyce, the Lockheed name got an unexpected second chance. Only five days after the doors of the corporation had been locked, a miracle took place. A new group of investors bought the assets of the Lockheed Aircraft Corporation division for only $40,000, and the company was brought back from the dead.

Close Up of Vignette:

Certificate: Capital Stock, issued in the 1930s

Printer: E. A. Wright Bank Note Company

Dimensions: 8 (h) x 12 (w)

State: Mi-Michigan

Subject Matter: Aviation and Aerospace | Airplane Manufaturers

Vignette Topic(s): Airplane Featured | Blimp Featured | Aerial View

Condition: Vertical fold lines, no cancels and some toning and edge faults from age.

All certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. Unless otherwise indicated, images are representative of the piece(s) you will receive.