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Auction: 20130 - Bonds and Share Certificates of the World e-Auction
Lot: 586

U.S.A.: Southern Motor Manufacturing Association Ltd., Texas, $100 shares, 19[19], #6207, winged wheel at top, green, gold seal. Established in Houston in 1919 to manufacture the Ranger automobile together with trucks and tractors. Production appeared smooth until 1922 when the company entered receivership and a merger with National Motors followed. In 1924 several former officers of both companies were indicted for fraud stating that hardly any cars were made and that the whole enterprise was a stock selling operation. VF.

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£45