Catalogusgegevens

LastDodo nummer
1638677
Rubriek
Waardepapieren
Titel
National Linen Service Corporation, Certificate for less than 100 shares, Common stock, $ 1,=
Soort
Nominale waarde
1,00 US Dollar per aandeel
Rentepercentage (obligatie)
Land van uitgifte
Jaar van uitgifte
Oplage
Decoratieve waarde
Zeldzaamheid
Afmetingen
21,5 x 31,3 cm
Bijzonderheden
Handtekeningen facsimile. Stuk op naam. Ontwaarding door perforatie. Rode overdruk i.v.m. naamswijziging. On April 1, 1919, Isadore Weinstein and Herman Gross launched the Atlanta Linen Supply Company. As a World War I private in France, Weinstein was wounded by enemy machine gun fire in a battle at Chipley Wood. However, as he lay recuperating in a French hospital, he noticed the stacks of freshly cleaned and pressed towels, sheets and nurses' uniforms. There in that hospital bed, Weinstein expanded his original dream to supply towels, but to also include linens and uniforms. The original office and distribution center was a 10’x12’ room in the back of an old residence on Walker Street. The total capital of the company at start-up was $1,700. Beginning in 1922, with the opening of the Birmingham plant, the company became Southern Linen Service Corporation. Soon afterward plants were established in Savannah, Chattanooga, Winston-Salem, Miami, New Orleans, Mobile, Jacksonville, and Charlotte. In 1928 the company’s stock was first traded over the counter. In 1944 it incorporated as National Linen Service Corporation and was traded on the New York Stock Exchange. The next year Empire Manufacturing Company, which used over 10 million yards of cloth per year making all the napkins, table linens, and uniforms used by National Linen joined the family. Empire Manufacturing was managed by I.M.’s brother, Jack L. Weinstein while another brother created a traveling sales crew for the company. During the early 60’s, National Linen expanded its service to nursing homes, hospitals and physicians offices by providing specially treated linens packed in polyethylene bags. In 1962, Acme Uniform Rental Services in Denver was acquired as National Linen’s first plant devoted exclusively to the industrial market. National Linen Service began a diversification program in 1962 with the acquisition of Zep Manufacturing. Two years after acquiring Zep Manufacturing, National Linen acquired Atlantic Envelope Company and the Board of Directors changed the name of the corporation to National Service Industries (NSI). In 1973 an issue of Georgia magazine described NSI as a “quiet giant.” NSI was also the “most profitable conglomerate among the top 50 ranked” by Forbes magazine.