1929 Wrigley Pharmaceutical Co stock certificate - WW Wrigley - chewing gum

Description

With many of the elements of a classic stock scam, W. W. Wrigley formed the Wrigley Pharmaceutical Company in Atlantic City, NJ, ostensibly to manufacture and sell spearmint toothpaste. All stock certificates were signed by W. W. Wrigley, and investors began buying the stock mistakenly believing it to be associated with William. W. Wrigley of chewing gum fame. Wrigley Pharmaceutical stock certificates are rare collectors items, and for auction is a certificate dated May 15, 1929. It was for 30 shares of common stock
1929 Wrigley Pharmaceutical Co stock certificate - WW Wrigley - chewing gum
1929 Wrigley Pharmaceutical Co stock certificate - WW Wrigley - chewing gum
Click images to enlarge
Description
With many of the elements of a classic stock scam,
W. W. Wrigley
formed the
Wrigley Pharmaceutical Company
in Atlantic City, NJ, ostensibly
to manufacture and sell spearmint toothpaste
. All stock certificates were signed by W. W. Wrigley, and
investors began buying the stock mistakenly believing it to be associated with William. W. Wrigley of chewing gum fame
. W.W. Wrigley was actually
the cousin of William W. Wrigley (the chewing gum baron)
and purposely promoted himself as W. W. Wrigley to provide just enough ambiguity when promoting his toothpaste company.  Spearmint toothpaste, of course, seemed to be a natural follow-up product to spearmint chewing gum. However, the real William W. Wrigley had nothing to do with this venture, and eventually issued a public statement to this effect. Ultimately,
W.W. Wrigley and his pharmaceutical company were charged with fraud and closed
but only
after selling over 300,000 shares of stock
to the public; the
stock never paid a dividend
, and
investors lost all monies.
The
Wrigley Pharmaceutical stock certificates are rare collectors items
, and
for auction is a certificate dated May 15, 1929
. It was
for 30 shares of common stock
and is
hand-signed by W. W. Wrigley
. The
vignette shows a tube of
"spearmint toothpaste".
This item measures appx 11 1/2 x 8 1/4 inches and is printed on typical stock/bond security paper. It is in
very good condition
, with no rips or tears. All writing/markings are from its issuance. The certificate has no cancellation punch holes or staple holes and was once folded.
A great item for the stock collector, especially collectors of fraudulent company stocks.
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