Naval Salvage & Contracting Corp stock certificate c1949 (New York) 

Maritime collectible. Common vignette of an American Bald Eagle with wings spread and forest in the background. Unissued and not cancelled. Circa 1949 from company incorporation. Dated 19__ on the certificate. Approximately 11 x 8 inches. 

Naval Salvage and Contracting was a private firm where Lieutenant Commander William H. Walker, USNR was named president and chief engineer during the 1949 incorporation. Ultimately, the company was dissolved by 1928 since it could not compete with larger players in the U.S, Navy salvage sector,

This was a smaller commercial salvage company, as the U.S. Navy historically relied on private industry for most general salvage operations until World War II, maintaining its own forces only for specific tasks like submarine salvage. The company appears to have been part of the commercial marine salvage industry that supported the shipping world.

The marine salvage industry was conceived, raised, and supported by the shipping industry to save ships and cargoes and thereby to reduce insurance rates. Until World War II, the Navy depended upon industry to provide most salvage, maintaining its own forces only for the purposes of sub­marine salvage and limited ocean towing.

The major firm holding the U.S. Navy's primary salvage contract for many years was Merritt-Chapman & Scott Corporation, which fell apart in the 1960s. Its equipment and the Navy contract were subsequently taken over by Murphy Pacific, and later by other companies like Titan Salvage (now part of Ardent Global) and SMIT Salvage. Naval Salvage and Contracting was a smaller entity operating within the broader commercial salvage industry.

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