Beautifully engraved Certificate from the Bull & Bear Group, Inc issued in 1985. This historic document was printed by the Security Banknote Company and has an ornate border around it with a vignette of the company's name. This item has the printed signatures of the company's officers including Robert D. Anderson, as its President. This certificate is over 15 years old.
Bull & Bear Group, Inc., a Delaware corporation (the "Company"), is a holding company with seven principal subsidiaries: Bull & Bear Advisers, Inc. ("BBAI"), Bull & Bear Securities, Inc. ("BBSI"), Investor Service Center, Inc. ("ISC"), Midas Management Corporation ("MMC"), Rockwood Advisers, Inc. ("RAI"), Performance Properties, Inc. ("Performance Properties") and Hanover Direct Advertising Company, Inc.("Hanover Direct"). BBAI, MMC and RAI act as investment managers to open-end and closed-end management investment companies (the "Funds") registered under the Investment Company Act of 1940 (the "Act"). The open-end Funds are: Bull & Bear Special Equities Fund, Inc.; Bull & Bear Gold Investors Ltd.; Bull & Bear U.S. and Overseas Fund, a series of shares issued by Bull & Bear Funds I, Inc.; Bull & Bear Dollar Reserves, a series of shares of Bull & Bear Funds II, Inc.; Midas Fund, Inc.; and Rockwood Fund, Inc. The closed-end funds are: Bull & Bear Global Income Fund, Inc., Bull & Bear U.S. Government Securities Fund, Inc. and Bull & Bear Municipal Income Fund, Inc. BBSI was organized in 1984 to operate a discount brokerage service. BBSI has access to every major U.S. stock, option and bond exchange as well as the over-the-counter market. Investors may use the discount brokerage services provided by BBSI to trade stocks, bonds and options at substantial commission discounts from full cost rates, access their investment in any of the Funds to pay for securities purchased, or invest proceeds of sales of securities in the Funds. BBSI is registered with the Securities and Exchange Commission ("SEC") as a broker/dealer and is a member of the National Association of Securities Dealers, Inc. ("NASD") and Securities Investor Protection Corporation ("SIPC"). ISC was organized in 1985 and is registered with the SEC as a broker/dealer and is a member of the NASD. ISC acts as the principal distributor and shareholder administrator for the open-end Funds. Performance Properties was organized in 1994 to invest in real estate. Hanover Direct was organized in 1988 and acts as an advertising agency, which places advertising for ISC on behalf of the Funds and for BBSI. Currently, the commission revenue generated by Hanover Direct from ISC and BBSI represents a recapture of sums paid for advertising and, rather than additional income, represents a reduction in advertising expense of ISC and BBSI. Hanover Direct has not performed any work for unaffiliated clients. The Company has granted the Funds and its subsidiaries a non-exclusive license to use service marks owned by the Company, including "Bull & Bear," "Bull & Bear Performance Driven," "Midas," and "Performance Driven" under certain terms and conditions on a royalty free basis. Such license may be withdrawn from a Fund in the event the investment manager of the Fund is not a subsidiary of the Company or in other cases, at the discretion of the Company.