The 1928 Lem-n-Blennd Company–Sells Stock to raise capital

Between 1928 and 1932 Edwin Keagy aquire a small group of investors in order to raise capital to expand the reach of Lem-n-Blennd.  While the original patent was aquired in 1914, by 1928 Keagy knew he had a drink that people wanted.  He sold shares in his Lem-n-Blennd Company at 10-dollars a share with a minimum purchase of 5 shares at 50-dollars.  Prior to his entering into an agreement for production and distribution of Blennd with Reymers & Brothers, Keagy had to pay those shareholders off.  Our evidence suggests only a hand full of investors took part and the effort raised less the one thousand dollars Below is the 1933 tax document for the Lem-n-Blennd Company indicating that after the agreement with Reymers a year earlier Keagy’s Lem-n-Blennd Company had no investors