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Sale 38 Lot 1323

(1858 - 1928) American army officer and engineer appointed by Theodore Roosevelt to supervise construction of the Panama Canal. Important pair of documents in which Goethals offers nearly one-half of his company's common stock. Includes: T.L.S. 1p. 4to., New York, July 9, 1920 to company secretary I.G. Blauvelt, in part: "...In order to furnish purchasers of the Preferred stock of Goethals, Wilford & Boyd, Inc., with bonus shares of common stock at the rate of two shares of common for each share of Preferred...we hereby authorize you to issue direct to such subscribers ....certificates for not to exceed twenty-four hundred (2,400) shares out of the one hundred twenty thousand (120,000) shares of common stock which we have subscribed for...". With the stock certificate issued by Goethals with the specific purpose of implementing his plan as outlined in the letter. Signed by Goethals as President on May 3, 1920, the stock represents 57,600 shares, or 48 per cent of the 120,000 total common stock shares referred to in his letter, and were intended to be issued to his preferred stock holders. It is indeed rare when combinations of important financial documents such as this involving the shapers of America's industrial destiny become available on the open market. Signature on stock certificate bears two cancel holes, else very good.
Estimate $ 75-100

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