DS, signed twice “Walter E. Disney,” fourteen onionskin pages, 8.5 x 13, December 1, 1945. Voting Trust agreement between Walter E. Disney and Roy O. Disney, labelled “Trustees,” and “the undersigned shareholders of Walt Disney Productions…hereinafter called the ‘Beneficiaries.” Document reads, in part: “All of the shares of Common Stock of said Walt Disney Productions, a California Corporation, now owned or controlled by the Beneficiaries…amounting in the aggregate to three hundred fifty-five thousand (355,000) shares , shall for a period of twenty-one (21) years from the date of this agreement be reserved from sale, except under the conditions hereinafter stated. Upon the signing of this agreement, each of the Beneficiaries hereby severally agree to, and will duly endorse, or cause to be endorsed, in blank, the certificate or certificates representing all of said shares of Common Stock of said Walt Disney Productions now owned or controlled by him, and will then deliver to and deposit the same with said Trustees to be held by said Trustees during said period of twenty-one (21) years in Trust, however, for the Beneficiaries, their heirs, executors, administrators and assigns, and at all times subject to the terms and conditions herein set.” Signed on page 13 “Walter E. Disney,” and “Roy O. Disney,” and signed again on the final page, “Walter E. Disney,” and “Roy O. Disney,” stating they both hold 106,500 shares each, and also signed by Lillian B. Disney, Edna Francis Disney, and Gunther Lessing. Final page also bears a Walt Disney Corporation embossed seal. In fine condition, with staples to top left corner, a small edge tear and creases to first page, as well as a small notation, and some other mild creases to pages.
For years the Disney family retained control of all of the company’s common stock, a business arrangement that formed the foundation of their great wealth. In August 1945, just four months before signing this 14-page agreement, the Disneys agreed to public ownership of common stock, thus diluting familial control of the company. Unique documentation as the once elite company transforms into a publicly owned corporation. Pre-certified PSA/DNA and RRAuction COA.
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