Description: *We always deliver the pictured certificate, not a substitute similar item* 1918 Mining Stock Certificate of The Northern Production Mining Company, Limited Company: The Northern Production Mining Company, Limted Certificate Number: 883 Signatures: A.F. Coyne (President, see below for more information), Edward William Devereaux (shareholder), and G.L. Stebbing (sp? Secretary) Corporate Seal: Embossed Foil This excerpt from Bitumen: The people, performance, and passions behind Alberta's oil sands, by Peter McKenzie-Brown, offers some interesting detail about A.F. Coyne, who's (unverified/uncertified) signature is on this rare certificate: The Coyne affairAnother questionable character was A.F.A. Coyne, a Scottish immigrant, who took over Great Northern Oil and Asphalt Company (GNOA; founded 1911) in 1915. With that effort began his controversial six-year career as an oil sands promoter. More interesting than his efforts to produce oil were the machinations he used to advance his personal interests.By 1917 GNOA’s financial affairs were such that it could not afford to pay its development costs. Coyne’s solution was to transfer its properties for shares in another company he had formed, Northern Production Company. This share exchange gave Coyne the biggest block of shares in the new entity, and GNOA investors soon called foul. Citing a number of irregularities, a group of GNOA investors alleged “that an attempt was being made to plunder the company.” There is some evidence that he used forgery as a business tool. On one occasion, for example, he appears to have witnessed a signature which did not quite match that person’s normal signature. After leaving Northern Production in 1919 (probably at the insistence of its shareholders), the company held two meetings to discuss his latest plan for the company. After the second of those meetings the company’s new president, John Taylor, wrote to the Minister of the Interior that he “found it practically impossible to carry out the duties of my office owing to the actions of Mr. Coyne and the Secretary-Treasurer who have failed to account for the activities of the Company or for its funds and refuse to produce books and records….The whole scheme of A.F.A. Coyne is to defraud the Public by means of obtaining control of the equipment and changing the name of the Company, when he cannot get any further assistance, after squandering the money entrusted to his care for honest development work which he failed to do.” Coyne was associated with two other companies, which may have included well-heeled investors from Britain. In Canada his last entrepreneurial plan was in 1920, when he proposed to develop a natural gas business for the town of Athabasca. The town went bankrupt before he could achieve his goal. His reputation in tatters, Coyne returned to the UK. He last entered Canada’s historical record in 1936 when, in a letter to newly-elected Social Credit Premier William Aberhart, he offered to return to Alberta to develop an oil industry based on the Athabasca oil sands. Such characters as Hammerstein and Coyne were representative of the boosterism, stock promotion and speculation so common in the newly formed province, which was experiencing considerable growing pains. Orderly development in a rapidly growing place with seemingly endless opportunity was hard to maintain. The greedy enthusiasm that motivated many people made the job more difficult. Outrageous though they may have been, however, Hammerstein’s and Coyne’s misdeeds took place in a period of progress for the oil sands... Buyer will receive the pictured certificate. Stock certificates may have folds, creases, tears, holes or other defects. Where legible, we attempt to research the certificate signatures, however, signatures are not authenticated or verified. Please see all pictures and note below:This is a vintage item. Please see all pictures as the primary indicator of condition, details, and flaws. As is typical of older items, there may be markings, tears, loose binding, soiling, foxing, fragile areas, rust, fading and any other type of defect common with items of this age. We do our best to mention and picture any major flaws. Most of our photographs are taken with high quality equipment and lighting, enabling users to zoom in to see a great level of detail. We encourage all buyers and bidders to examine all photographs prior to purchase.
Price: 460.75 USD
Location: Wyncote, Pennsylvania
End Time: 2024-02-29T20:04:16.000Z
Shipping Cost: N/A USD
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Item Specifics
Restocking Fee: No
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
