In a last-ditch effort to keep their sagging ballclub in their hometown of Milwaukeee, a public stock offering of 115,000 shares in the Milwaukee Braves was withdrawn after only 13,000 shares were sold. It happened this week on April 7, 1963.

The arrival of the Braves in Milwaukee in the spring of 1953 signaled a new era in baseball history. Led by young sluggers Eddie Mathews and Hank Aaron and powerful pitchers Warren Spahn and Lew Burdette, the Braves became perennial National League contenders, finishing lower than second only once between 1953 and 1960.

The highlight of the Braves’ stint in Milwaukee came in 1957, when they beat the New York Yankees to win the World Series. The Braves returned to the World Series in 1958, losing to the Yankees.

However, in the early 1960s, the team’s performance tailed off, as did their remarkable attendance. The last-ditch stock offering to keep them in Milwaukee failed miserably, and the club was sold to a Chicago-based investment group. The new owners moved the team to Atlanta after the 1965 season.

To this day, the Milwaukee Braves are the only major league team who played more than one season and never had a losing record.

This Week in Wall Street History

4/7/08