Sunday, March 23, 2014

A small Missouri stock

It's not the most attractive certificate I own but it is a rare and possible unique. It's the only one listed in Cox (BOO-308-s-30). The company only issued 250 shares of stock making finding examples a daunting task.

History of the road: The Boone County and Jefferson City Railroad Company was incorporated in Jan. 30, 1857 to build a line from Columbia Missouri to the Pacific Railroad at or above Jefferson City. The Civil War delayed any work on the project. The corporation organized on Oct. 5, 1865. Only a few days before the charter expired. The stockholders met on Dec. 16, 1865 and elected D.H. Hickman as president and George C. Pratt as chief engineer. Construction was commenced May 21, 1866 and the road was completed from Centralia to Columbia Oct 29, 1867 a distance of 22 miles.

David Henry Hickman

The capital structure consisted: $12,500 in cash from stock subscription, $200,000 in Boone County subscription in 8 per cent bonds and $300,000 for 8 per cent mortgage bonds.
For a total capital of $512,500.

Before work commenced a contract had been made with the North Missouri Railroad by which the latter was to operate the road and pay the BC & JC one-third of gross earnings from all business going to and from the leased property. The rent was to pay the interest on the mortgage bonds. On Jan. 12, 1869 the North Missouri Railroad ceased to pay rent and the BC & JC could not pay interest on it's bonds. The road was sold in April 23, 1873 under foreclosure for $30,000.

links of interest:

  • History of Boone County Missouri 1882-Western Historical Co.

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