We found an old Pan American Airlines stock certificate after we wrote the newsletter article about old certificates that appeared in our April issue. A bright friend noticed that the certificate was signed by N.E. Halaby--that's Najeeb Halaby, the father of Lisa Halaby, now known as Queen Noor of Jordan. Najeeb Halaby was Pan Am's chairman from 1970 to 1972. The signature should add to the certificate's value.
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Yes, Najeeb Halaby's daughter is now Queen Noor, the widow of Jordan's King Hussein. However, there is a common misconception that executive signatures on old stocks and bonds are actually personally signed. I am told by securities collectors that such signatures are actually done with an "autopen" or some similar technique. If you look at dozens of certificates from the same company, all the signatures are exactly identical. When you think about it, corporation heads have better things to do than sign thousands of stocks and bonds!
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