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Elgin Motor Car Stock (79921)
Closed Auction
Elgin Motor Car Stock (79921)
Closed Auction

Elgin Motor Car Stock (79921)

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About the item

I/U #6598 Albert La Huis 20 shares, 1916. "The Elgin automobile was manufactured by Elgin Motor Car Corporation in Argo, Illinois, from 1916 to 1923, and by Elgin Motors, Inc., in Indianapolis from 1923 to 1924. Elgin Motor Car Corporation was formed in 1916 by several executives from the Elgin Watch Company. The company was based on the former New Era Motor Car Company of Joliet. Upon being taken over, the erstwhile company was moved in its entirety to Elgin, where the new company had a 210,000 square foot factory waiting on 13 acres.[1] This would allow room for future expansion. The Elgin achieved success in the Midwest endurance races in which it was entered. Advertising slogans included "The Car of the Hour" and "Built Like A Watch", alluding to the roots of the founders. Dividends of 10% paid in stock in July 1916 and cash dividends of 5% in July 1920 proved so popular with stockholders that stockholder meetings had to be held in a tent.[2] Sales of over $7 million
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