Indiana Coal and Railway Company (Early Rail Fraud)
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You will receive the exact certificate pictured
Over 125 years old
First mortgage bond
April 2, 1881
Issued, uncanceled
Henry Seibert & Bros.
Hand signed
17" (w) by 25" (h)
60 coupons remain attached at bottom margin
Historical Context
This line was incorporated in the state of Indiana on April 1, 1881 - allegedly to build an 80-mile line from Terre Haute to Columbus, Ohio. Bonds were issued in both the United States and London.
But, as time passed, there was no progress made on the line, so investors started investigating the company's principles - President George W. Stanton and Secretary H. Walter Woollett - both of whom have signed this bond.
Company filings indicated the two men were from New York, but neither could be located. Further investigations determined that no right of way had ever been filed for the company's proposed route.
Needless to say, the line was never built.
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Additional Information
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