|
Allan Loughead Signed Scarce Lockheed Aircraft Company Stock Certificate |
 |
 |
100 shares of Lockheed Aircraft Company. Signed by Allan Loughead as Vice President. June 10, 1929. Certificate #5021A. Archival framing. On exhibit at Fraunces Tavern Restaurant in Manhattan. Historical Background: Allan Loughead (1889-1969) legally changed his last name to Lockheed so that its spelling would match its pronunciation. With his brother Malcolm, he founded Lockheed in 1926. The company was bought by the Detroit Aircraft Corporation in 1929, only to have the parent company file for bankruptcy three years later. That same year, bankers Robert and Courtland Gross bought Lockheed's assets and soon revived the company's business with the Electra, a twin-engine, all-metal airliner, popularized by Amelia Earhart. World War II saw Lockheed take off a defense contractor with the P-38 Lightning bomber. During the Cold War as the Lockheed Martin Corporation, it remained a primary contractor for Defense Department aircraft. Inventory# 12006 $3,250 |
