Detroit Aircraft Corporation - Michigan 1935

Beautiful certificate from the Detroit Aircraft Corporation issued in 1935. This historic document was printed by Goes Banknote Company and has an ornate border around it. This item has the signatures of the Company's Vice-President and Secretary and is over 72 years old. folds.

History from 1930 research by Old Company Research - OldCompany.com:

DETROIT AIRCRAFT CORP.: Incorporated in Michigan July 10, 1922, as Aircraft Development Corp.; name changed to above in 1929. Owns entire capital stock of Ryan Aircraft Corp., Aircraft Development Corp., Aviation Tool Co., Groose Ile Airport, Inc., Marine Aircraft Corp., Park's• Air College and Affiliated Companies, Inc., Detroit Aircraft Export Co., Gliders, Inc., and Eastman Aircraft Corp. Also owns a 90% interest in Blackburn Aircraft Corp., practically all of the capital stock of Lockheed Aircraft Co. and a 40% interest in Winton Aviation Engine Co. Company, through subsidiaries, manufactures a complete line of aircraft, ranging from a $3,000 training ship to $6,000,000 dirigibles. Subsidiaries also manufacture motors and operate an airport.

RYAN AIRCRAFT Coap.: Organized in Missouri. July 5, 1929. Acquired assets and business of Mahoney-Ryan Aircraft Corp.. successor to Ryan Air Lines. Manufactures four and six place cabin monoplanes. Plant, adjacent to municipal airport at St. Louis, has a monthly capacity of 25 planes. Detroit Aircraft Corp. owns entire capital stock.

AIRCRAFT DEVELOPMENT CORP.: Organized July 12. 1929, in Michigan to take over and continue development and construction of "Metalclad" airships for commercial, military and naval uses. Company holds patents covering design and construction of "Metalclad" rigid airships and airship mooring towers. The first "Metalclad," the ZMC-2, was constructed for U. S. Navy in 1929. Detroit Aircraft Corp. owns entire capital stock. AVIATION Tool, Co.: Organized in Michigan, June 11, 1929, to take over and continue the development of automatic riveting and other labor-saving machines and their application to all types of aircraft. Detroit Aircraft Corp. owns entire capital stock.

GROSSE ILE AIRPORT, INC.: Organized in Michigan, Nov. 15, 1926. Owns and operates an airport on Grosse Ile, an island in the Detroit River. Airport covers 403 acres of land and has water approaches on three sides. Contains a circular landing field. 3.000 feet in diameter, and an airship hangar. Detroit Aircraft Corp. owns entire capital stock.

MARINE AIRCRAFT CORP.: Organized in Michigan, June 11, 1929, to specialize exclusively in all-metal amphibian and flying boat construction for commercial and naval uses. Manufactures an all-metal six-place cabin amphibian plane. Detroit Aircraft Corp. owns entire.,capital stock.

EASTMAN AIRCRAFT CORP. Organized in Michigan. Nov. 26, 1928. Manufactures a light three and four-place flying boat ranging In price from $7,500 to $10,000. Detroit Aircraft Corp. owns entire capital stock.

BLACKBURN AIRCRAFT CORP.: Organized in Michigan, May 20, 1929. to acquire design and patent rights on entire line of metal aircraft of Blackburn Airplane & Motor Co., Ltd.. of England. Agreement covers such rights in North and South America, excepting Brazil and certain rights in Canada and provides that all special tools and patterns shall be supplied by English company at cost. Detroit Aircraft Corp. owns 90% of capital and Blackburn Airplane & Motor Co., Ltd., owns remaining 10%

DETROIT AIRCRAFT Export Co.: Organized in Dec., 192 purpose of handling export sales in South and Central An China. Japan, Australia, New Zealand and South Africa. Detroit Aircraft Corp. owns entire capital stock.

GLIDERS, INC.: Engaged exclusively in manufacture of r less airplanes selling for $485. Factory located In Detroit, Detroit Aircraft Corp. owns entire capital stock.

MANAGEMENT (Detroit Aircraft Corp.) : OFFICERS: Blair, Chairman; E. S. Evans, Pres.; C. B. Fritsche, Work, Vice-Pres.; E. T. Gushee, Treas.; C. A. Parcells DIRECTORS: F. W. Blair, E. S. Evans, C. B. Fritsche, Mayo, E. T. Gushee, „C. A. Parcells, C. W. Harrah, Kettering, E. W. Lewis, C. S. Mott, R. E. Olds, Schwartz, R. H. Upson, R. D. Chapin, F. W. Blair, p. Ball, H. H. Knight, H. M. Bixby, T. N. Dysart, S. R.1 J. S. Elliott, F. E. Keeler, B. S. Hunter, F. W. Gai GENERAL AUDITORS: Arthur Andersen & Co. OFFICE: Union Trust Bldg., Detroit, Mich.

The Lockheed-Detroit YP-24 of 1931 was a design ahead of its time. It was the first USAAC low-wing monoplane fighter with retractable undercarriage and was the first USAAC fighter with enclosed cockpits. Perhaps more significantly for later developments, it was the first military pursuit design to carry the Lockheed name, although at that time Lockheed was owned by the Detroit Aircraft Corporation of Michigan.

The Lockheed Aircraft Company of Santa Barbara, California had been a going concern all throughout the 1920s, its best-known product being the famous Vega high-wing monoplane which had set so many records. However, in 1929, the management of Lockheed voted to sell majority share ownership to the Detroit Aircraft Corporation, a Michigan-based holding company which already owned the Ryan and Eastman aircraft companies and which also had a substantial manufacturing capacity in Detroit. In July 1929, the Detroit Aircraft Corporation acquired 87 percent of the assets of Lockheed. On the surface, it appeared that the change of owners was not going to affect the day-to-day business of Lockheed, and the operationally-independent California team went right on producing Vegas, Air Expresses, and Explorers. New designs were also forthcoming: In 1929 Lockheed produced the Sirius, in 1930 they produced the Altair, and in 1931 the Orion appeared.

However, the Detroit holding company had some ideas of its own, and these resulted in Lockheed's first entry into the pursuit field. The Detroit company undertook the private development of a prototype of a two-seat fighter based on the design of the Lockheed Altair low-wing cantilever monoplane of 1930. The Altair was unique for its time in that it possessed a cantilever monoplane wing with a fully-retractable main undercarriage. The chief engineer responsible for the project was Robert J. Woods, who was based in Detroit.

The stock market crash, plunged the USA into the Great Depression. As the Depression deepened, the Detroit Aircraft holding company found that it was in way over its head, rising losses from other operations draining it of any profit. On October 27, 1931, the Detroit Aircraft Corporation went into receivership.

The bankruptcy of the Detroit holding company meant that it could not undertake the manufacture of the Y1P-24s and Y1A-9s. The project was tentatively shelved, and no examples of either type were ever built.