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1967 Studebaker-Worthington Inc. |
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Stock Code STW01 |
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Certificate dated 14th December 1967 for 10
shares of common stock.
Issued to Rush & Co, with the printed
signatures of Richard Hostelles, Secretary and the President of the company. Nice vignette
of woman and globe at the top of certificate. A certificate is
also available in the name of George Handelsman, 937 41 St, Brooklyn, NY,
11219.
Certificate size is 20.5 cm
high x 30.5 cm wide (8" x 12").
About the Company |
Framed Certificate Price : £60.00
Certificate Only Price : £20.00 |
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About the Company |
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1736 - 1750
Members of the Studebaker family came to America from Solingen, Germany,
in 1736. For generations, Studebakers, or Stutenbeckers as they were called
in Germany, had been involved in the blacksmithing trade. Many were
producers of fine cutlery. The members of the family who came to America
brought with them their metal working craft. The ability to form metal was
essential in the construction of early Conestoga wagons. One of the
immigrants, Clement Studebaker, reportedly built his first wagon in America
around 1750.
1852
In February 1852, two of Clement's great grandchildren, Henry and
Clement, opened the H&C Studebaker blacksmith shop in South Bend, Indiana.
During their first year of operation, they built two horse-drawn farm
wagons.
1853
In 1853, with the help of younger brother John M., they constructed a
sturdy wagon which John provided to a wagon train as his payment for
overland passage to the California gold fields.
1853 - 1858
From 1853 to 1858, John earned a small fortune in "Hangtown"
(Placerville) making wheelbarrows and other tools for the gold miners. In
1858 John returned to South Bend with his earnings and invested them in his
brothers' business. The Studebaker brothers built hundreds of wagons for the
North during the Civil War and by the time the United States was 100 years
old, the Studebaker Brothers Manufacturing Company was the largest producer
of horse-drawn vehicles in the world. By then, brothers Peter and Jacob were
also involved in the company.
1902 & 1904
Studebaker entered the automobile business in 1902, when they introduced
an electric car. Two years later, they brought out their first gasoline
automobile, a two-cylinder, 16-horsepower touring car.
1911
In 1911, the Studebaker Brothers Manufacturing Company combined with
Everitt-Metzger-Flanders Company of Detroit to form the Studebaker
Corporation. The Corporation marketed the EMF "30", the Flanders "20", the
Studebaker-Garford "40", and Studebaker Electrics.
1913
By 1913, all of the above models had been discontinued, being replaced
by four and six cylinder automobiles, all of which bore just the Studebaker
name. During 1913, Studebaker became the third largest producer of
automobiles in America, after Ford and Overland. At first, all Studebaker
Corporation automobile assembly was carried on in Detroit, but after the
discontinuation of horse-drawn vehicle manufacturing in 1920, automobile
production was gradually shifted to South Bend.
The ’Teens
through the ’20s
Studebakers marketed during the late 'teens and early twenties used
names like Big Six, Special Six, Light Six and Standard Six, but for the
1927 model year, these "generic" names were discontinued and the President,
Commander and Dictator model names were introduced. Also introduced in 1927
was a new quality small car called the Erskine. In 1928 Studebaker purchased
Pierce-Arrow, a Buffalo, New York company that produced luxury automobiles.
The Great
Depression
Underestimating the impact of the Great Depression, Studebaker's
president, Albert Erskine, inadvertently led the corporation into
receivership in 1933. Paul Hoffman and Harold Vance saved the company, but
much of Studebaker's momentum had been lost. Studebaker would never
completely regain the solid footing it had in 1929. Because of the
Depression, Studebaker had to sell Pierce-Arrow in 1933. In the same year,
they dropped the Rockne, another small car venture that Studebaker had
launched the previous year. The Rockne was named in honor of the famous
Notre Dame football coach, Knute Rockne. The Rockne was, in many ways, a
better car than the original Erskine, which had been discontinued in 1930.
For the 1934 model year,
Studebaker introduced several advanced body designs, including the
streamlined Land Cruiser, a car that was styled after the famous
Pierce-Arrow Silver Arrow show cars. The Land Cruiser and Cruiser names were
used off and on by Studebaker from 1934 to 1966.
Commercial
Trucks
During the thirties, Studebaker made a concerted effort to gain a
foothold in the commercial truck field. In 1936 they introduced a line of
cabover-engine trucks, and in 1937 the smoothly contoured Coupe-Express
pickup premiered. Studebaker built quality trucks continously from 1929 to
December 1963. The Champ pickup, Transtar gas jobs, medium-duty Diesels and
Postal Zip-Vans were their last commercial products. Studebaker also built
bus and fire engine chassis. Studebaker, off and on, assembled postwar
military trucks until March 1964.
1939 . . . The
Champion is Introduced
The Champion, a very advanced small car, was introduced by Studebaker in
1939. The six-cylinder Champion proved to be an instant success. It was sold
along with the larger eight-cylinder President and six-cylinder Commander.
The Dictator name, for obvious reasons, was dropped at the end of the 1937
model year. Popular Studebaker options during this period were overdrive and
the Hill Holder.
Studebaker & The
War Effort
During World War II, Studebaker produced military trucks, aircraft
engines and the Weasel, a tracked personnel and cargo carrier that was
designed by Studebaker engineers. One version of the Weasel was amphibious.
Peace & a
Postwar Economy
After the war, Studebaker was the first established automobile company
to come out with an all new styling. The new 1947 Studebakers were nicknamed
the "Which-Way-Are-They-Going" cars, since they had similar front and rear
stylings.
Convertibles were again available
in 1947. Studebaker had last marketed a convertible in 1939. Postwar
convertibles were sold from 1947 to 1952 and from 1960 to 1964. The postwar
design was revamped in 1950 with the addition of a bullet-nosed front end.
This styling was continued through 1951. Studebaker's Automatic Drive was
brought out in mid-1950, and a new modern overhead valve V8 engine was
introduced in 1951 for the Commander models.
1952 - 100 Years
of Studebaker
The Studebaker company celebrated its 100th anniversary as a producer of
road vehicles in 1952. Oldsmobile, currently America's oldest automobile
make, did not reach its 100th birthday until 1997.
The "Loewy
Coupes" are Introduced
In 1953 Studebaker brought out the beautiful low-slung "Loewy Coupes."
They were produced in Starliner hardtop and Starlight pillared coupe form,
and have many times been listed among the most beautiful cars in the world.
Raymond Loewy, who had directed Studebaker styling since the 1938 models,
oversaw the development of the Starliner/Starlight design, although the
actual styling was created by Robert Bourke.
In 1955 a sporty version of the "Loewy
Coupe," called the Speedster, was produced. The Speedster concept was
continued in 1956 with the introduction of the Hawk line of "family sports
cars." During 1956-58, the top line Hawk was called the Golden Hawk.
Studebaker-Packard Corporation
Packard, a highly respected automobile company that produced its first
car in 1899, joined forces with Studebaker. The resulting Studebaker-Packard
Corporation had a hard time competing with the Big Three (General Motors,
Ford Motor Company and the Chrysler Corporation). From 1954 to 1958, the
Studebaker-Packard Corporation never had a profitable year. Because of this,
the Packard line was discontinued in 1958. The 1957 and 1958 Packards were
actually Studebakers with special interiors and Packard trim.
Although Studebaker's sales
position took a nose dive after 1950, Studebaker maintained a strong gas
economy image throughout the 1950's. Studebaker was a constant standout in
the Mobilgas Economy Runs.
New Models
Introduced
In addition to the Hawks, Studebaker introduced several new models during
the 1950s. In 1954 the Conestoga station wagon premiered. In 1955 the
President line returned, having been marketed last in 1942. In 1957 a new
economy series called the Scotsman was unveiled, and was fairly successful
in 1957 and 1958.
1959 - Lark, an
All New Compact Line
Because of the Scotsman's success and the growing demand for practical
transportation, in late 1958, Studebaker dropped all its existing automobile
models except the Silver Hawk and introduced an all-new compact line called
the Lark. The Lark project was directed by Studebaker's president, Harold
Churchill. During 1959, the Lark was extremely successful. It produced the
highest one-year profit Studebaker had ever had up to that time.
1962 & 1963 -
Speed & Sport
In 1960 the Big Three countered with their own compacts and Studebaker
again found itself struggling for survival. In an attempt to create a
sportier image, Studebaker brought out the Gran Turismo Hawk in 1962 and
introduced the dynamic Avanti for the 1963 model year. The fiberglass-bodied
Avanti, when fitted with an optional supercharged R3 engine, was capable of
a true 170 miles per hour. (In 1993, Ron Hall drove a Studebaker powered
1963 Avanti 200 mph.) It was the fastest production car that had ever been
built in America. The Avanti also sported a wind-cheating aerodynamic
design, a built-in roll bar and caliper disc brakes, the first brakes of
this type used on a full-sized American production car. The Avanti project
was instigated by Studebaker's new president, Sherwood Egbert, and was
styled by a team under the direction of Raymond Loewy.
New Lark Models
The Lark line was given a flashier image with the introduction of the
Cruiser in 1961, the Daytona in 1962 and the unique sliding-roof Wagonaire
station wagon in 1963. A Lark Commander and Challenger were introduced for
the 1964 model year. The 1962-64 Lark stylings and the GT Hawk were designed
by industrial designer Brooks Stevens, the creator of the Excalibur motor
car. Early Excaliburs used Studebaker frames and suspension. The original
prototype was fitted with an Avanti engine.
Production in
South Bend Discontinued
Unfortunately, the GT Hawk, the Avanti and the new Lark models did not
improve Studebaker's economic position. Because of this, the board of
directors voted to close down most of the South Bend plant in December 1963,
and concentrate production in their small assembly plant in Hamilton,
Ontario, Canada (Studebakers had also been assembled in other plants outside
North America, and were built in Los Angeles from 1936 to 1956).
Production
Continued in Canada
Only Lark-type vehicles were assembled in the Canadian plant, which
meant the discontinuance of Avanti, Hawk and truck production after December
1963. Engines for 1964 Canadian Studebakers were built in South Bend, but
beginning with the 1965 model year, General Motors engines, which were
assembled in the McKinnon engine plant in St. Catharines, Ontario, were used
by Studebaker. Profits from the Hamilton plant were minimal, so it was
decided to close it down in March 1966. The last Studebaker was produced on
March 17, 1966.
Studebaker
Subsidiaries
The production of the last Studebaker did not mark a definite end of the
company or its products. The Studebaker Corporation (the Packard name was
officially dropped from the corporate title in 1962) had acquired numerous
subsidiaries, such as STP, Gravely, Clarke and Onan, so although it did not
build cars after March 1966, the company carried on. In mid-1967 Studebaker
purchased the Wagner Electric Corporation and in November 1967 it combined
with the Worthington Corporation to form the Studebaker-Worthington
Corporation. In the fall 1979, the Studebaker-Worthington Corporation was
absorbed by the McGraw-Edison Company. In April 1985, the McGraw-Edison
Company was acquired by Cooper Industries of Houston, Texas.
The Avanti
Continues . . .
Studebaker's fabulous Avanti, which was so advanced when introduced in
April 1962, was produced by non-Studebaker companies until 1991. In 1965
the Avanti Motor Corporation started producing the Avanti II in South Bend,
Indiana, Studebaker's old home town. The Avanti II was not a replica, but
was actually a continuation of the original Studebaker model. Nathan Altman
and Leo Newman, the gentlemen who formed the Avanti Motor Corporation,
purchased from Studebaker buildings and all the fixtures needed to produce
the Avanti. Since Studebaker had stopped building engines, the Avanti Motor
Corporation decided to use Corvette engines, but the frame, suspension and
fiberglass body panels were essentially the same as used on Studebaker's
Avanti.
The Avanti Motor Corporation was
sold to Stephen Blake in October 1982. Mr. Blake made a few engineering and
styling changes. In 1983 he dropped the "II" from the car's name, and in
1985 introduced an Avanti convertible.
In April 1986, the Avanti Motor
Corporation was sold to Mike Kelly. Kelly renamed the company The New Avanti
Motor Corporation. For the 1987 model year, Kelly introduced a long
wheelbase coupe and started using GM chassis. In September 1987, he moved
production to Youngstown, Ohio.
In September 1988, Kelly sold his
remaining interest in the company to John J. Cafaro. Cafaro renamed the
company again, calling it the Avanti Automotive Corporation. The long
wheelbase coupe was discountinued, but before ending production in 1991,
Cafaro built coupe, convertible and four-door Touring Sedan models.
In 1997, Jim Bunting of
Millersville, Pennsylvania, introduced the AVX, an Avanti inspired sports
model that utilized existing Pontiac Firebird models. In 1999, Bunting
introduced a convertible version of the AVX. The AVX styling was directed by
Tom Kellogg, one of the original Studebaker Avanti designers.
In 2000, the interest of Jim
Bunting and John Cafaro were obtained by John Seaton, John Hull, and Michael
Kelly, and a new Avanti Motor Corporation was established in Villa Rica,
Georgia. The new company will be producing an Avanti based on the
Bunting/Kellogg design.
By Fred K Fox, Studebaker & Automotive
Historian |