M.C. was owned by Bob Myers who had his headquarters on West 12th Street underneath Ward's Kiddie Park. Myers operated a concession, granted by the Parks Department, that rented beach chairs, umbrellas, and the rolling chairs on the Boardwalk. The business operated in Coney from the 1930s through the early 1960s at five locations under the boardwalk, from Sea Gate to Manhattan Beach.
Every spring, Myers would load up his 1932 Ford truck with his beach equipment and distribute it to the under-the-Boardwalk tin shacks where it was rented to the beach-going public during the summer. The rolling chairs could also be rented in the winter. They were stationary and lined up in front of the Ward's building, occupied by sun-worshipers who used them year-round.
You have a valuable piece of Coney Island history!