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Refsnes, Ely, Beck & Co Stocks Bonds Phoenix, Arizona Metal (? Brass/? Bronze/? Copper) Company Letter Opener Advertising Premium Vintage ca 1931-1969  <b><span style='color:red'>*****FIRST CLASS SHIPPING INCLUDED  DOMESTIC ORDERS ONLY!*****</span></b><span style='color:purple'>

Title   Refsnes, Ely, Beck & Co Stocks Bonds Phoenix, Arizona Metal (? Brass/? Bronze/? Copper) Company Letter Opener Advertising Premium Vintage ca 1931-1969 *****FIRST CLASS SHIPPING INCLUDED DOMESTIC ORDERS ONLY!*****

Seller ID   Refsnes Ely Beck Co Stocks Bonds Letter Opener

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Item/Description: Vintage ca 1931-1969 "Refsnes, Ely, Beck & Co Stocks Est. 1931 Bonds" Phoenix, Arizona Bond House metal (? bronze/? brass/? copper) company letter opener advertising premium giveaway.

Excerpted Online Research Information About the Company & its Founders (attributed to http://www.arizonahistoricalsociety.org): “Joseph E. Refsnes (1897-1991), one of Arizona’s most

prolific and influential securities brokers, was born Nov. 27, 1897 in Anaconda, Montana...

...Refsnes moved in November 1916 to Arizona to work at the Inspiration Copper Mine...

In 1917...friends who worked at the Gila Valley Bank and Trust Company encouraged him to apply for a job typing ledger sheets...He stayed with the bank, took courses through the American Institute of Banking and worked his way up to manager at the Gila Valley branch in Miami, Arizona, where he helped people make investments by purchasing and selling stocks and bonds for them through New York City correspondents and charging a commission. By 1925 he had become branch manager...Refsnes’ success with investments at the Gila Valley Bank

caught the attention of officials at The Valley Bank and Trust Company, which acquired

Gila, and Refsnes was recruited to manage their new securities department in 1926 in

Phoenix. There he met Paul Beck who joined the department as assistant manager and

bank cashier Sims Ely Jr.

By the early 1930s, banking laws were changing in reaction to the Great Depression, and

the bank decided to discontinue its investment division. Refsnes, with the encouragement

of community members and the blessings of The Valley Bank board, acquired the files

and furniture of the department and began J.E. Refsnes & Co. with Beck as a partner. In

October 1931, Ely also became a partner and the firm’s title was changed to Refsnes, Ely,

Beck & Co. The company’s first big jobs were with the Salt River Water Users’

Association and the Central Arizona Light and Power Company. Refsnes and his

business partners traveled all around the state as the company became heavily involved in

public finance issues and handled security transactions, underwrote bonds, bid on new

bond issues and served as financial consultants to numerous municipalities and

government entities throughout Arizona including towns, school districts, and water

districts. The company worked with bonds that built Arizona schools, paved its roads and

constructed its municipal infrastructure including the Arizona State Fair Grounds

Coliseum.

The company often worked in partnership with securities firms from other parts of the

country. Some of the other securities companies that Refsnes worked closely with in

syndicates include Pasadena Corporation of Pasadena, California; John Nuveen & Co. of

Chicago; Boettcher & Company of Denver; and Stranahan, Harris & Co. of Chicago. For

legal advice, Refsnes often relied on the legal firm Gust, Rosenfeld, Divelbess, Robinette

& Linton. The Rocky Mountain Bank Note Company of Denver frequently printed the

actual bonds.

Refsnes, Ely, Beck & Co. was not only active in consulting work and buying and selling

municipal bonds but worked to innovate municipal financing as well. The company

helped invent advanced refunding bonds and developed the non-callable sinking fund

bond. In 1969, the company merged with Rauscher Pierce Securities Corporation to form

Rauscher Pierce Refsnes, Inc. and became vice chairman of that company’s board.

During his career Refsnes also conducted financial analysis of estates and was the cotrustee

on several large trusts dealing with philanthropic giving and served as the

executor of several estates...”

Age/Period: Vintage - ca 1931-1969 (1930s-1960s)

***The company in its incarnation as referenced on this letter opener, “Refsnes, Ely, Beck & Co.” was founded in 1931. In 1969, the name of the company was changed to “Rauscher Pierce Refsnes, Inc.” following a merger.

Manufacturer/Identification/Markings/Country of Origin: Unknown/Unspecified

Letter opener bears only this promotional advertising wording: “Refsnes, Ely, Beck & Co Stocks Est. 1931 Bonds”:

Material(s)/Format: Metalware (? bronze/? brass/? copper)

Size/Measurements: 8"L

Quantity: One (1)

Condition: Excellent, evincing only a modest modicum of tarnish and bowing.

 

Price = 42.99 USD


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