Product Details
Company
Chicago & South Western Railway Company
Certificate Type
Capital Stock
Date Issued
Unissued, circa 1800's
Canceled
Yes
Printer
American Bank Note Company
Signatures
NA
Approximate Size
10 1/4" (w) by 7" (h)
Images
Representative of the piece you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
The Platte City & Fort Des Moines Railroad Company was created for the purpose of constructing and operating a railroad to commence at a point on the Missouri river opposite or nearly opposite the city of Leavenworth, Kansas, and run thence north-easterly to a point on the state line between Missouri and Iowa in the direction of Fort Des Moines. The name of the company was afterwards lawfully changed to the Leavenworth & Des Moines Railway Company, and later to the Chicago & Southwestern Railway Company. Such changes, however, were merely of name.
This company was also authorized by law to build a branch road from some point on the main line to a point on the north line of Missouri, in the direction of Ottumwa, Iowa. On the 12th of May, 1869, a corporation was duly formed under the general laws of Iowa, and called the Chicago & Southwestern Railway Company in Iowa, for the purpose of building and operating a railroad from Washington in Iowa, south-westerly, to meet the road of said Chicago & Southwestern Railway Company, chartered in Missouri, at the state line between Iowa and Missouri. The capital stock of this Iowa corporation was fixed in the articles of incorporation at $3,000,000, and it was provided in said articles 'that in the event of the consolidation of this corporation with the Chicago & Southwestern Railway in Missouri, the company in which the two companies may be consolidated shall have the power to subject the said corporation to such amount of indebtedness or liability as the board of directors may deem necessary, not exceeding, however, six million of dollars.'
On the 25th of September, 1869, these two companies adopted articles of consolidation, and became one company, under the name of the Chicago & South Western Railway Company, for the purpose of building a railroad from some point on the Washington branch of the Chicago, Rock Island & Pacific Railroad, in the state of Iowa, to the Missouri river, in the state of Missouri, at a point on the Missouri river opposite or nearly opposite the city of Leavenworth, in the state of Kansas. In the proceedings which resulted in this act of consolidation the county of Leavenworth, as one of the stockholders in the Chicago & Southwestern Railway Company of Missouri, was represented by its duly-appointed agent, who gave his assent to the consolidation. On the 1st of October, 1869, six days after this consolidation, the new company entered into a contract with the Chicago, Rock Island & Pacific Railroad Company, whereby it agreed to issue its bonds in the amount of $5,000,000, payable 30 years after date, bearing interest at the rate of 7 percent per annum, for which coupons were to be attached to the bonds, the whole to be secured by a mortgage on its entire line of road to the Missouri River.
The line was eventually consolidated into the Rock Island system in 1880.
Related Collections
