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1942 Reynolds & Co., New York - Stock Transfer Stamp Ticket

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t360
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Posted 02/02/2008  10:59 am  Show Profile Bookmark this topic Add t360 to your friends list  Get a Link to this Message

Here is an example of how the stock transfer stamps of 1940-1952 (popularly referred to as the "Greens") were used on
"stamp tickets" to document the sale of stock and to show that the proper taxes on the transaction had been paid.



This "stamp ticket" shows that 15 shares of U.S. Steel were sold on May 19, 1942 to Carlisle at $46 per share for a total of $690.
Seems like a wise investment decision at the time (shortly after the Japanese attack on Pearl Harbor)
with the demand for steel bound to increase during the War.

The New York State tax on the sale was 60c and the federal tax was 90c.

The NY state tax was paid using two State revenue stamps:



a 20c stamp tied by a "Reynolds & Co." blue cancellation,



and a 40c stamp, also tied by a blue cancellation.

These State Revenue stamps both feature the New York State Seal in their design,




which has the goddess "Liberty", the goddess "Justice" and a shield between them showing the Hudson Highland and sail boats on the Hudson River.
Under the shield is New York's state motto "Excelsior", which translated from Latin means "ever upwards."

The federal tax was paid using two green stock transfer stamps.



The 10c stamp (Scott #RD121, overprinted "Series 1942") has a portrait of William H. Crawford,

a prominent politician who was Secretary of the Treasury in President Monroe's cabinet from 1816 to 1825.



The 80c stamp (Scott #RD103, overprinted "Series 1941") features the portrait of another Secretary of the Treasury, Roger Brooke Taney.

However Roger Taney is remembered as the highly controversial Chief Justice of the Supreme Court which handed down the decision in the Dred Scott case,
which enraged the anti-Slavery politicians such as Abraham Lincoln and further divided the nation in the period leading up to the Civil War.

Each of these stamps has little holes punched in it in some sort of pattern.
These holes are not cancellations; they do not go through the stamps and into paper, because the stamps were punched before they were affixed to the paper.
These holes are called perfins - short for "perforated initials" - and they served as a security measure to prevent the pilfering of stamps by employees.



The perfin is inverted on the stamps to make it less noticeable. See how the holes form the letters "R & C0" for "Reynolds and Co."

So you can see why this stock transfer stamp ticket is a favorite of mine.
It is loaded with interesting stamps which tell a lot about American history.
Best of all it only cost me a few dollars.

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