Rare Arnold Rothstein 2x Signed Legal Contract Made Just Months After 1921 Travers Stakes Upset

A 11pp legal document TWICE signed by Jewish-American mobster Arthur Rothstein (1882-1928), both times as "Arnold Rothstein" on the signature page at the conclusion of the document. October 28, 1921. N.p. but almost certainly New York City. The partly typed and partly manuscript document on red-ruled paper is secured to pale blue wrappers by two metal rings. The document bears six signatures total: two by Arthur Rothstein; two by A.L. Libman as "A.L. Libman"; one by Frederick F. Neuman as "Frederick F. Neuman"; and one by Charles Libman as "Charles Libman." Expected wear including gentle creasing and folds, especially to the front wrapper. The upper corners of both wrappers show isolated water-staining, and there is minor discoloration to the back cover, else very good to near fine. The interior pages are clean and crisp. 8.625" x 11."

The document, entitled "Voting Trust Agreement / Re. / Common Stock of A.L. Libman, Inc." was prepared by Neuman & Newgass, a downtown Manhattan law firm. The contract signed on October 28, 1921 was set to expire on September 30, 1926. It outlined the division of stock shares, and clarified the composition of the board of directors, among other points. A.L. Libman, Inc. was an insurance company incorporated just one month earlier, in September 1921, so it is more than likely that this document was one of the foundational contracts signed by Arthur Rothstein in his role as president, and A.L. Libman in his role as co-founder, treasurer, and secretary.

The co-founders of A.L. Libman, Inc. had large ambitions for the company. Headquartered at 30 West 57th Street, the firm handled life insurance, fire insurance, film and theatrical insurance, car insurance, construction bonding, mortgages, and real estate development, according to an article published in the April 28, 1922 issue of "The Eastern Underwriter." The same article cites that Rothstein and Libman had been working together on real estate deals since at least 1917. A.L. Libman, whose name is listed as either Abram or Abraham, could have been New York businessman Abram Lincoln Libman (1880-1948.)

Rothstein's involvement in A.L. Libman, Inc. represented just one of "The Brain's" many legal and illegal business ventures. The gambler-turned-entrepreneur took advantage of gray areas and loopholes to turn a profit, and, most importantly, diversified his investments. For example, during this time, Rothstein invested in above-board business projects like A.L. Libman, Inc., but he also hedged his bets by bootlegging liquor and narcotics, and by engaging in underhanded sports betting.

Just a few weeks before signing this legal contract, Rothstein had entered a horse into the 1921 Travers Stakes. The Travers Stakes was an important horse race established in 1864 in Saratoga Springs, New York, traditionally following the Kentucky Derby and taking place during the summer. Under the pseudonym Redstone Stable, Rothstein entered his colt Sporting Blood into the race. Evidence suggests that Rothstein had surreptitiously learned that the favored horse, Prudery, was sick, and he was also probably involved in the last-minute entry and just-as-sudden withdrawal of the second-favorite contestant, Grey Lag. Rothstein's horse Sporting Blood, originally ranked in third place, finished first and netted Rothstein a handsome profit of about $500,000 including bets.

The business dealings of America's "first successful modern drug dealer" who associated with the likes of Lucky Luciano, Meyer Lansky, Dutch Schultz, and Tammany Hall, involved significant risk. Rothstein was fatally shot on November 4, 1928 after participating in a high-stakes poker game that he later alleged was fixed. He died two days later at the age of 46.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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