Sunday, December 15, 2013

An Early Christmas Present.

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My  daughter and son-in law gave me an early Christmas present. They found a nice one with it being the fourth to be listed in Cox. With no sales recorded for over 10 years makes it a somewhat of a rare piece. The certificate is unusual  for a railroad stock with both the secretary and the treasurer signatures listed with the presidents.

A little history of this company.
The company was chartered in 1853. It's plan was to build a rail line from the Indiana Branch of the Pennsylvania Railroad to New Castle Pennsylvania. The line was to follow the Conemaugh and Kiskiminetas Rivers to Allegheny Junction (now known as Kiski Junction). From New Castle it would connect with the Cleveland and Mahoning Valley Railroad. This would connect with the city of Cleveland, Ohio.

This would create a through line to the west, something the Pennsylvania Railroad did not have at the time.

By 1858 the railroad completed most of the grading and ballasting from Blairsville to Kiski Junction. The financial panic of 1857 caused the railroad to not meet it's financial obligations.

Worked stopped and like thousand of railroads in the 1800's the line was foreclosed. It re-organized in 1859 as the Western Pennsylvania Railroad.


source: The Western Pennsylvania Railroad. http://www.kvrr.org/western.htm.

Monday, October 7, 2013

Don't do this please!

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If you want to ruin a paper collectible probably no better way than to laminate it. For some reason the seller thinks it commands a nice opening bid. Here is the link if anyone has a loose five grand laying around. EBay fantasy.

Saturday, October 5, 2013

Crazy Bidding on the bay.

I don't understand the bidding here. Six known examples in Cox with a R5 rating. Not a rare piece. The buyer paid at least twice what this certificate is worth in my opinion. But I guess if two buyers really want an item money doesn't matter.
Crazy auction here.

Reproduction on eBay



You don't see many reproductions when it comes to stocks and bonds. This is one listed on eBay now. Looking at the pictures I could see a collector mistaking this for real. At least the seller is honest. I don't see the words "copy" or "reprint" on the certificate which the Hobby Proctection Act requires. Buyer beware comes to mind.

Tuesday, October 1, 2013

Rare Addition

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This is the first stock of this railroad that has surfaced. This road was chartered as the Atlanta and Hawkinsville RR in July 1886. It changed it name to the Atlanta and Florida railroad in 1887 and opened for business in November 10, 1888. The line ran from Atlanta Georgia to Fort Valley Georgia a distance of 105 mile at standard gauge. It operated for 7 years before it was purchased by J.P. Morgan. More information on this excellent site  Georgia Railroad History.


Monday, July 29, 2013

A Riddle Wrapped in a Stock

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I like this stock. Not only for it's blue color but it's not cancelled. Most all of these you see are hole or cutout cancelled. The thing that bothers me about the stock is I have never found the answer how this stock which is of the Northern Pacific Railroad Company can be issued in the first place. The Northern Pacific Railroad Company went into bankruptcy and was reorganized as the Northern Pacific Railway in 1896. This stock is issued in 1897 and it made out to the Northern Pacific Railway Company! I'm sure someone out there with a better understanding of railroad finance can explain this. Let me know.

Sunday, June 9, 2013

My latest-A stock but no railroad


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At least that would be what I would be saying if I was one of the original 1000 investors. The idea was to run a railroad from San Diego to Near Yuma 175 miles in length. A separate Arizona company would run a line from Phoenix Arizona to Yuma a distance of 160 miles. The scheme was the idea of William H. Carlson part time lawyer, Politician and conman. He was elected Mayor of San Diego and served from 1893-1896. He was listed as the president of the railroad although my preferred stock example list D.C. Reed as president. Reed was on the board of directors of the ill faded railroad company. Reed also succeeded Carlson as Mayor of San Diego 1897-1898.

The original idea for the railroad was a good one as it would shorten the present rail line by 200 miles and it would tie San Diego with the Cities of Denver, Chicago and New York. The company was chartered in April 1893 with authorized $4,000,000 in stock with $400,000 capital raised. It managed to actually lay track of 13 miles and graded 2 additional miles before the line was abandoned in 1900. Carlson eventually went to federal prison for mail fraud in 1917. He was involved in another shady real estate deal when he died in 1938.
 
 
William H. Carlson

Daniel C. Reed


References:
1.The Great Southwest-A monthly journal of Horticulture 1894
2.Wikipedia
3. Poors Manual 1899

Tuesday, May 28, 2013

Not rare but pretty

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I like to collect the rarest pieces I can find. Sometimes I go for a more common example if I like the design and vignette. This one is a pretty certificate with not one but six vignette. Great work from the American Bank Note Company.

Sunday, May 19, 2013

Not your typical Specimen

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I thought this is interesting about this bond. It is a beautiful piece engraved by the Hamilton Bank Note Company of New York. At first glance it looks like a specimen. It is not. It seems the Hamilton Bank Note Co. marked their proofs as specimens. It is made from India Paper (which is Chinese not Indian) backed by thick card stock. I would be interested to know of other examples.

Monday, May 13, 2013

Spink Auction

Some interesting railroad stocks and bonds for auction. I count 48 American RR lots.
The auction is for May 22-23, 2013 in New York, New York. A few items have me interested in this auction.

Friday, May 10, 2013

A new "Land of Dixie" Stock

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With all of eBay's problems you do occasionally find a truly rare piece. This is the first stock of this railroad to appear in Cox. It's a Confederate Railroad which makes it scarce and especially appealing to me.

Wednesday, May 8, 2013

Archives International Auction XV


                                                       Click here for auction

The Archives International people have been busy as of late. Their latest effort has a nice selection of American Railroad Stocks & Bonds.

Sunday, May 5, 2013

Specimens

 In the time frame I collect (pre-world war I American railroads), specimens are a scarce to rare item to add to my collection . A number of railroads have no issued or unissued certificates to collect so a specimen is the only known example. I recommend collector seek out a copy of April 2009 issue of Scripophily magazine and read the excellent article by Max D. Hensley on Specimens . Also check out Terry Cox information on specimens and proofs. Proofs are a subject for another day. These three specimen I have not listed on my website yet. I especially like the vignettes on these examples.

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Sunday, April 28, 2013

One born every minute

    
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I find it interesting how people become suckers in all kind of con-games. No better than this one of the Holman Locomotive Speeding Truck Company. It took down many life savings before it was done. A well done article is here Holman Locomotive Speeding Truck Co. This is my example of the stock. Worth more as a collectible than it ever did as an investment.

Saturday, April 20, 2013

Railroad history book

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Part of the fun of owning railroad stocks is finding out the history of the companies that the certificates represent. The wonderful little book on the Green Mountain Railway does that on this short lived (1883-1891) cog railroad. I highly recommend this well researched and well written book. If you are a railroad history buff like me this book should be in your library. The book can be found on Amazon.

This is my stock on the railroad. Cog railroad certificates from the 19th century are a rare find. This is the only one listed in Cox for this company.

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Friday, April 12, 2013

Given Up the Search


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With many research attempts always leading to dead ends. I have given up trying to find information on this company. Terry Cox list is as a locomotive builder. His thinking is it may be a builder of logging locomotives. I found a small bit of information in a newspaper article from that time listing a Stiles as a maker of steamship engines. I'm not sure if it is the same company or not. So a plea to the collectors out there for any information. I appreciate any morsel of information you may give me.

Sunday, April 7, 2013

Not on my website

 
 

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The reason is I totally forgot I had this piece! I was checking some of my scans and noticed it. I will add it when I update my website. A rare piece the company operated for two years before it change it's name. Terry Cox shows this to be the only one known.

A little history of this road. It was incorporated in March 17, 1851. This railroad operated as a separate and distinct company to build a line from Hudson, Ohio to connect with the Pittsburgh, Fort Wayne and Chicago Railroad. The mileage was sixty-one miles from Hudson to Millersburg. It operated until 1853 when it's name was changed to Cleveland, Zanesville and Cincinnati Railroad Company. It like thousands of railroads fell into receivership. In August of 1861 a receiver was appointed and operated the road until  November 2, 1864 when the line was sold. 1

1. Annual Report of  Railroads and Telegraphs Dec. 31, 1902- History of Railroads of Ohio.

Thursday, April 4, 2013

Not your usual RR stock


                                      
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I probably has seen thousands of railroad stocks but this one is unusual. I'm sure their are other examples from other companies but I have not seen any. Any guess on what does not fit the normal railroad stock?

Sunday, March 31, 2013

More Stock and Currency Match-Ups

I thought I would list a couple more railroad stocks and currency from the same companies.
Both these stock and currency issues are from the Civil War period. If you are interested in the Civil War railroads two books I can recommend that cover the Confederate railroads are "The Railroads of the Confederacy by Robert C. Black III really a classic on the subject and "Railroads of the Civil War" by Michael Leavy. Both books are on amazon. Click the titles for links.

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Saturday, March 23, 2013

Archives International Auction is up.


                                                    click here for auction site

It looks like 82 US rails offered and there are some proofs and specimens that look interesting. Specimens and proofs are always on my radar screen.The starting bids generally look reasonable.

Faked Stock



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Fortunately Scripophily does not have the number of dishonest people doing business as does coin or currency collecting. Here is one of my early mistakes. I made the mistake of not checking Terry Cox website very well. Didn't pay much for it thou. It's looks like an issued piece dated 1901. The only problem with the date is the bond was issued in 1915. The crook should of checked out Cox too. I learned my lesson. If any one is interested in this unissued piece let me know.

Saturday, March 16, 2013

Sell or Trade

 
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It's time for some spring cleaning and reducing some inventory. I will be listing some items that may be interesting to collectors. This first piece is a cylinder die from the American Bank Note Company for the Chicago and Rock Island Railway. A cylinder die was used to transfer an engraving from a master plate to a printing plate. A master plate was placed in a transfer press and heavy pressure was put on the cylinder and pressed on the harden master plate. The cylinder is then case-hardened and used to transfer the image to a printing plate. The printing plate is then harden and then it is used to do the printing.

Sunday, February 24, 2013

Stocks with bank notes.

 
 
I started my collecting habit collecting US currency. My love for history and railroad history in particular led me to collecting railroad paper money. Collecting stock and bonds was the next step and much easier way to start a collection. All of collecting efforts are stock and bond collecting occasionally going for a railroad paper money piece. Here is two matching stocks with bank notes.
 
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Saturday, February 16, 2013

A Confederate Stock

My latest addition. Not too pretty with ink burn stains but it is from a Confederate state railroad. There are five from the war listed in Cox for this company. Civil War Confederate RR certificates are hard to find. Not only does a collector compete with other RR collectors but you have Civil War collectors and Southern States Civil War collectors. If any one has a Confederate railroad certificate send me an email marlofan@aol.com. I'm always interested.


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Sunday, February 10, 2013

A stock with a mystery.

My first post and hopefully someone can solve the mystery with this stock. It's not the strange use of Allegorical figure of navigation with her sexton that appears on a railroad certificate . No I am wondering about the second set of numbers that appear above the vignette. Any idea what the no. 9676 is? It's not the serial number which is no. 3306. Terry Cox had no clue. Hopefully a collector out on the web can solve the mystery.

                                    
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