The product is a stock certificate from the El Verano Improvement Association, signef by Morse as secretary & William Crocker as president in San Francisco. Morse would later develop Pebble Beach for the Pacific Investment Company and Crocker later became president of Crocker National Bank. He was the son of Charles Crocker, one of the “big four” railroad magnates who built the Central Pacific Railroad. Morse was known as the “Duke of Del Monte” and developed the Lodge at Pebble Beach. The El Verano company operated in Sonoma County and subdivided ranch property into resort hotels, town lots and estate sized tracts for $300 per acre. Both men signed the certificate. A great piece of bay area history