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    Description

    Steinmetz Electric Motor Car Company (Maryland)
    A 1924 certificate for 5 shares in blue and black. Founded by Charles Proteus Steinmetz, known as "The Wizard of Schenectady." Born in Poland, Steinmetz was forced to leave Germany because of his Socialist political activities. He immigrated to the United States in 1889 and four years later obtained an engineering and research position with the General Electric Company. He served on the faculty of Union College in Schenectady from 1902 until his death in 1923 and held political office there as President of the Schenectady School Board. He is best known for his research in the field of electricity, especially on the nature and use of alternating current. His work contributed to the utilization of electricity as a source of power in industrial applications. After leaving the General Electric Company Steinmetz was called back as a consultant. When he submitted a bill for his services for $10,000 company management requested an itemized invoice to support his charges. Steinmetz replied: "Making chalk mark: $1.Knowing where to place it: $9,999." It was his hope to build a mass market electric vehicle, but the venture was beset by a variety of financial problems and was dissolved in 1926. A very scarce auto stock connected to a researcher whose reputation during his lifetime rivaled that of Thomas Edison. Extremely Fine.


    Auction Info

    Auction Dates
    May, 2003
    1st-3rd Thursday-Saturday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
    Page Views: 795

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