Name: Penobscot Central Railway Company (Signed by Flavius O. Beal)
Brand: Ghosts of Wall Street
SKU: 293
Price: 85.0 USD
Availability: InStock

Penobscot Central Railway Company (Signed by Flavius O. Beal)

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Product Details

Company	Penobscot Central Railway Company
Certificate Type	First Mortgage Sinking Fund Gold Bond
Date Issued	December 2, 1901
Canceled	No
Printer	Brooks Bank Note Company
Signatures	Hand signed
Approximate Size	12" (w) by 17" (h)
Product Images	Show the exact certificate you will receive
Authentic	Yes
Additional Details	Signed by Flavius O. Beal 38 coupons remain attached
Value Reference	$75 to $100

Historical Context

The Penobscot Central Railway Company was incorporated in Maine in December of 1896.

The company operated a twenty-eight mile street railway from Bangor through Glenburn, Kenduskeag, and East Corinth to the Town of Charleton.

Instead of using the conventional overhead trolley system and maintaining expensive powerhouse facilities and transmission lines, the company decided to use a newly developed gasoline-electric car. The car contained a gasoline motor which turned a dynamo which in turn fed a bank of 110 storage batteries providing electric current for the two traction motors beneath the car. The development of this type of motive power was yet in the primitive stage and the ten percent grades along the line made its use impractical and almost fatal during a northern Maine winter.

The line opened from the steamboat wharf in Bangor to East Corinth village December 17, 1898 but traffic failed to materialize as had been anticipated and passenger riding was all but non-existent. The gasoline-electric car proved a failure and the line was shut down completely April 7, 1900 in order to convert the road for conventional overhead trolley operation. A steam generating plant was constructed at Kenduskeag Village and further work was required, in all requiring an additional expenditure of $105,000 to render the road serviceable.

Trolley service was extended to Charleton August 5, 1902.

In mid 1904 the road was sold under foreclosure proceedings to the bondholders’ committee and reorganized but failed to greatly improve its condition. Early in 1905 the road was reorganized again as the Bangor & Northern Railway and the following year was merged with the Bangor Railway & Electric Company.

Related Collections

Flavius O. Beal

Flavius O. Beal's Signature

With his gift for oratory and a penchant for publicity, Flavius O. Beal was one of Bangor's best known personalities in the late 19th and early 20th centuries. Between 1892 and 1914, Beal served as bangor's mayor - a span that covered seven terms.

As President of the state fair at Maplewood (now Bass) Park, he was the namesake of "Beal Weather," a legendary stretch of sunny, summer skies believed to have resulted from Beal's pull with the weatherman.

Additional Information

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