United Shoe Machinery stock certificate 1916 (Massachusetts)

Unusual shoe stock certificate. Nice vignette of an American Bald Eagle with wings spread. Issued and cancelled. Dated 1916. Measures approximately 12 x 8 inches.

The United Shoe Machinery Corporation (USMC) was a dominant American industrial manufacturer that monopolized the shoe-making machinery industry for much of the 20th century.

Founding:
Formed in 1899 through the merger of three major shoe machinery firms: Goodyear Shoe Machinery Company, Consolidated McKay Lasting Machine Company, and McKay Shoe Machinery Company.

Business Model:
Instead of selling its machines, USMC required shoe manufacturers to lease them on long-term contracts that bundled maintenance and discouraged switching to competitors.

The "Shoe" Factory:
Headquartered originally in Beverly, Massachusetts, its massive plant on Elliott Street was one of the world's largest reinforced concrete buildings, employing over 7,000 workers at its peak. Today, the historic complex has been redeveloped into the Cummings Center.

Antitrust Scrutiny:
Because the corporation controlled upwards of 75% to 90% of the market and aggressively acquired competing patents, it was the target of major federal antitrust lawsuits by the U.S. government, notably leading to landmark rulings under the Sherman Act forcing changes to its leasing practices.

Legacy:
The company changed its name to USM Corporation in 1968, later merged with Emhart Industries, and eventually was absorbed by the Black & Decker Corporation in 1989.

Product descriptions and images
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