New products
New products
American Machine Foundry
American Machine Foundry common stock, 73 shares, Merrill Lynch, New Jersey 1971, AMF sports-industry scripophily
This AMF certificate presents a notable feature: the registered holder is Merrill Lynch Pierce Fenner & Smith Inc., one of the largest securities brokers in the world, acting as a nominee holder (street name) for its clients. The precise number of 73 shares (not rounded) indicates it probably resulted from a partial transaction or a portfolio adjustment. In 1971, AMF was in full expansion in the bowling sector: America then had more than 12,000 bowling alleys, and had just acquired Harley-Davidson (1969), whose management would prove chaotic. This year 1971 thus marks a turning point in AMF's history. The presence of Merrill Lynch as holder illustrates the central role of major brokers in the custody of American stock-market securities.