Morris Canal & Banking Company of 1844
Morris Canal & Banking Company of 1844
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Product Details
Beautifully engraved antique stock certificate from the Morris Canal & Banking Company of 1844 dating back to the 1860's. This document, which is signed by the company President and Secretary, was printed by Latimer Bros. & Seymour and measures approximately 9 5/8" (w) by 6" (h).
This piece has four beautiful vignettes, which include three fantastic canal scenes and the New Jersey State Seal.
Images
Historical Context
Seeking to improve transportation between the coal mines of Pennsylvania, the iron forges of Morris County, New Jersey and the great marketplace of New York City, the state legislature chartered the "Morris Canal and Banking Company" in 1824 to build an artificial waterway between the Hudson and Delaware rivers. When completed in 1837, the canal measured 109 miles in length and over 1,000 feet in elevation, and contained 23 inclined planes and 34 locks. Unfortunately, the company went bankrupt soon thereafter due to construction cost overruns and the depression of the late 1830s. Reorganized under new ownership, the canal company prospered briefly.
Total tonnage hauled increased from 58,259 in 1845 to a peak of over 900,000 in 1866. However, newly built railroads began to cut deeply into the canal's business. The company felt obligated to lease the entire canal to the Lehigh Valley Railroad Company (LVRR), which used the right-of-way to construct an extension to its rail network in Pennsylvania. By the late 1880s, long-distance traffic on the Morris Canal had ceased altogether.
As evidence mounted of the canal's obsolescence, the LVRR began to press for the right to abandon its moneylosing canal operation. In 1923, after years of dickering between a variety of competing interests, the state arranged a settlement transferring all property, stock, bonds, and rights of the canal company to the State of New Jersey, with the exception of valuable real estate in Phillipsburg and Jersey City, which was retained by LVRR. The state then sold most of the canal property and dismantled corresponding canal works. It continues to administer property at several lakes and reservoirs for use as park land and water supply resources.
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
How will you ship my order and how much do you charge?
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.