| Type | Preferred |
|---|---|
| Nominal | 100 US-$ |
| Coupon Rate | 7% |
| Place of Issue | Delaware, United States of America |
| Date of Issue | 1920 |
| Printing Firm | Security Banknote Company in Philadelphia |
| Language | English |
| Year of Acquisition | 2016 |
| Condition | VF |
Description
W. J. Mc Cahan Sugar Refining & Molasses Company was incorporated in 1920 and took over all assets of the W. J. McMahan Sugar Refining Company which had been incorporated in 1892. Substantially the assets were a refinery with a wharf in Philadelphia which had been established by W. J. McMahan. This refinery was one of three “independent” refineries that existed alongside the “Sugar Trust” but colluded closely - which meant that it would align production quantity and benefit from transportation rates equal to that of the trust. . By 1938 the company was controlled by the Rionda family. The company sugar was marketed under the “Sunny Cane” brand. In 1944 all assets were sold to American Sugar Refing (the then corporate identity of the sugar trust). Whilst the common stock was closely held the preferred shares were listed.
Unusually large certificate for preferred shares (typical size of a bond). Vignette of an eagle on a rock. The certificate probaly dates from 1920 when the company was incorporated. Cancelled.