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Authentic United Airlines, Inc. and UAL, Inc. joint bond certificate issued in the 1970's. This is an original certificate, not a copy or reproduction. The certificate features a vignette of a mercury allegorical figure holding a flying wheel. United Airlines traces its claim to be the oldest commercial airline in the United States to the Varney Air Lines air mail service of Walter Varney, who also founded Continental Airlines. It was founded in Boise, Idaho. Varney's chief pilot, Leon D. "Lee" Cuddeback, flew the first Contract Air Mail flight in a Swallow biplane from Varney's headquarters in Boise, Idaho, to the railroad mail hub at Pasco, Washington, on May 17, 1926, and returned the following day with 200 pounds of mail. May 17 is regarded in the United Airlines company history as both its own birthday and the date on which "true" airline service—operating on fixed routes and fixed schedules—began in the United States. Varney Airlines' original 1925 hangar served as a portion of the terminal building for the Boise Airport until 2003, when the structure was replaced. In 1927, airplane pioneer William Boeing founded his own airline, Boeing Air Transport, and began buying other airmail carriers, including Varney's. Within four years, Boeing's holdings grew to include airlines, airplane and parts manufacturing companies, and several airports. In 1929, Boeing merged his company with Pratt & Whitney to form United Aircraft and Transport Corporation (UATC). In March 1928, Boeing Air Transport, National Air Transport, Varney Airlines and Pacific Air Transport combine as United Air Lines, providing coast-to-coast passenger service and mail service. It took 27 hours to fly the route, one way. In 1930, as the capacity of airplanes proved sufficient to carry not only mail but also passengers, Boeing Air Transport hired a registered nurse, Ellen Church, to assist passengers. United claims Church as the first airline stewardess. On May 7, 1930, UATC completed the acquisition of National Air Transport, Inc., a large carrier based in Chicago. On March 28, 1931, UATC formed the corporation United Air Lines, Inc. to manage its airline subsidiaries. Following the Air Mail Scandal of 1930, the Air Mail Act of 1934 banned the common ownership of manufacturers and airlines. UATC's President Philip Johnson was forced to resign and moved to Trans-Canada Airlines, the future Air Canada. William Boeing's company was broken into three separate companies. UATC's manufacturing interests east of the Mississippi River became United Aircraft (the future United Technologies), while its manufacturing interests west of the Mississippi became Boeing Airplane Company. The airline interests became United Air Lines. The airline company's new president, hired to make a fresh start as airmail contracts were re-awarded in 1934, was William Patterson, who remained as president of United Airlines until 1963. The certificate is in good condition for its age with creases and minor writing on the certificate. Nice looking certificate suitable for framing and is a great conversation piece of a famous company. The certificate is punch cancelled and its value is as a collectible. I have various colors that represent different issue amounts and the color will be selected at random. Certificate would make a fine addition to your collection or a great gift. Stock certificate collecting is becoming increasingly popular due to the historical significance of many of the companies and their increasing rarity. With the advent of electronic trading the issuance of stock certificates has decreased markedly and accordingly should improve the value of these certificates over time. Note that the certificate pictured is a specimen and that each certificate is unique with respect to dollar value, Cusip #, owners name, etc. Please review my feedback record and bid with confidence. Please contact me if you have any questions.