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Rochester Community Baseball, Inc., 1985, Specimen Stock Certificate

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:60.00 USD Estimated At:100.00 - 200.00 USD
Rochester Community Baseball, Inc., 1985, Specimen Stock Certificate
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New York, 1985. Specimen Stock Certificate, Black on blue border and underprint with team logo at top, Multiple Specimen stamps over certificate and POCs at bottom, Uncirculated condition, ABNC. Rochester Community Baseball, Inc. are the owners of the Triple-A Rochester Red Wings baseball team. The company was formed when in 1956 the St. Louis Cardinals announced that they would no longer operate the franchise in Rochester. Local businessman Morrie Silver led a community stock drive to purchase the team and the stadium. Silver and 8,221 shareholders purchased the team from the Cardinals on February 27, 1957, and gained affiliation with the Baltimore Orioles in 1961. The event became known as the "72 Day Miracle". As of December 12, 2011, there were 215 shareholders within the team with equity stakes at 0.1% to 5.0% per person. The stock is not publicly traded and has never paid a dividend