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Document 215896

WILLIAM PAINE
Co-founder of Paine, Webber & Company, the nation's fourth largest brokerage house.
Stock Certificate signed: "Wm. A. Paine" as President of the Lake Copper Company, 1p, 11x8. No place, 1924 December 29. Certifying that Henry L. Houghton "is entitled to One Hundred shares of the capital stock of the Lake Copper Company...." On verso, which is co-signed by the assistant trust officer and two witnesses, the stock has been transferred by executors of Houghton's estate to Paine, Webber & Co. on October 8, 1926. William A. Paine and Wallace Webber co-founded Paine & Webber on October 1, 1880 with a total capital of $24,089.31. By the late 1920s, the firm had 25 offices. Paine died on September 24, 1929, a month before "Black Sunday". Vertical fold touches the "A". Cancellation hole between the "A" and "P" of signature nicks the bottom of the "P". Other cancellation holes. Cancellation stamp just touches the "Wm". Overall, fine condition.

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