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Indiana Coal and Railway Company (Early Rail Fraud)

$49.00

SKU: 3589
Product Details

Beautifully engraved antique bond certificate from the Indiana and Coal Railway Company dating back to the 1880's. This document, which has been signed by the company President and Secretary (more on that later,) was printed by Henry Seibert & Bros. and measures approximately 16 3/4" (w) by 12 3/4" (h).

 

The certificate's intricate vignette features a train steaming past the entrance to a mine with a tram inside. The back also features two additional train scenes (pictured above in the third and fourth images.)

60 coupons (a full page) remain at the bottom margin.

 

This bond has full margins! It is just too big for a scanner to show them completely.

You will receive the exact certificate pictured.

    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. 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.