South Carolina Rail Road Company
South Carolina Rail Road Company
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Product Details
Beautifully engraved antique bond certificate from the South Carolina Rail Road Company dating back to the 1860's. This document, which is signed by the company President and Secretary, was printed by the American Bank Note Company and measures approximately 15" (w) by 17 1/2" (h) - including the coupons attached at the bottom margin
This certificate features four vignettes - the Liberty allegorical and George Washington flanking the South Carolina State Seal at the top, a train at a busy depot at the bottom, and two cherubic figures in the lower corners.
RN-T4 revenue imprint at lower left side.
Images
You will receive the exact certificate pictured.
Historical Context
The South Carolina Canal and Rail Road Company was chartered under act of the South Carolina General Assembly of December 19, 1827. The company operated its first 6 miles line west from Charleston, South Carolina in 1830.
The Louisville, Cincinnati and Charleston Railroad, which had built no track of its own, gained stock control of The South Carolina Canal and Rail Road Company in 1839. The merged companies changed its name to South Carolina Rail Road Company under an act of the South Carolina General Assembly of December 19, 1843. The South Carolina Canal and Rail Road Company had built its first 6-mile line west from Charleston, South Carolina in 1830. The railroad ran scheduled steam service over its 136-mile line from Charleston, South Carolina, to Hamburg, South Carolina, beginning in 1833.
In 1840, the company constructed a 66.3-mile railroad line between Branchville, South Carolina and Columbia, South Carolina; and In 1848, the South Carolina Rail Road Company constructed a 37.1-mile railroad line between Kingsville, South Carolina and Camden, South Carolina. In 1853, the company constructed a 1.8-mile railroad, mainly a bridge over the Savannah River, from Hamburg, South Carolina to Augusta, Georgia.
After 10 years of full operation, and the breakaway and reconsolidation of the LC&CRR, the South Carolina Railroad was still obliged by its original charter to connect with Camden. Despite hard economic times, and heavy debt inherited from the failed LC&CRR project, the 37.1-mile branch between Kingsville, South Carolina and Camden, South Carolina was completed in 1848, fixing the route map for the next 50 years.
During the great prosperity and statewide railroad expansion of the 1850s, the SCRR enjoyed a doubling of its receipts but was obliged to focus on paying off debt, upgrading its physical plant and resolving inefficiencies in its route. After the Civil War, financial losses due to operations of Federal military forces were estimated at $1,438,142. Losses due to the downfall of the Confederacy were $3,803,917, including defaulted CSA bonds, uncollected transport charges and 111 emancipated slaves.
Competition crept in thanks to previous failure to expand. In 1867 the SCRR fought an unsuccessful frog war during construction of the competing Charlotte, Columbia and Augusta Railroad by interfering in the courts, claiming an exclusive charter for any railroad connecting Charleston, Columbia, Camden or Augusta. A grade crossing in Columbia was protested in court, then blocked by a parked train, then torn up physically and finally threatened by a steamed-up locomotive ready to move forward to block at any moment. All of these obstructions were quickly dismissed or prohibited.
With debt over $6 million in 1873, the line was unable to expand beyond investments in some collateral lines, including the Greenville and Columbia Railroad. In a pinch, "fare tickets" were found to be helpful. Widely accepted as currency, each unit was good for a 25-mile passage along the line.
Despite these and all other efforts, the road went bankrupt in 1878 and was knocked down to New York interests for $1,275,000. On November 1, 1881, South Carolina Rail Road Company was sold in foreclosure to the organizers of The South Carolina Railway Company, which was incorporated under the general laws of South Carolina on October 17, 1881, as amended December 24, 1885.
After entering receivership in 1889 which lasted for five years under the aggressive management of Daniel H. Chamberlain, former Reconstruction governor of the state, The South Carolina Railway Company was reorganized as South Carolina and Georgia Railroad Company, under the general laws of South Carolina, May 12, 1894, amended by act of December 24, 1894.
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.
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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.