Tuesday, April 22, 2014

FHW AUCTION MAY 24, 2014


A little out of my price range
There are some wonderful pieces in this auction. Over a hundred US rails some rare to unique. There are two Missouri rails that I would love to own. The image is one of them. Only problem is 18% premium, dollar to Euro conversion, $25 dollar shipping, a 19% VAT on commissions and shipping and insurance is extra. Not to mention bidding starts at catalog prices. Any wonder why I’m sitting on the side lines. Good luck to the person with deep pockets.

Monday, April 14, 2014

Not easy to build a bridge

click to enlarge image


I generally collect only uncancelled certificates but I made an exception on this one. Only one listed and the cancellation mark does not mutilate the certificate.

History of the Company:This company was chartered in April 3,1889 to build a toll bridge and terminal for railroads and carriage traffic across the Missouri River. The toll fees were to pay the interest on the bonds and dividend on the stock.The bridge was to span between Jackson and Clay counties in Missouri. The work was to be finished the following year.

The finance as of June 1891 were capital stock of $1,475,000 and a bond debt of $975,000. The bonds were 1st mortgage 6 per cent $500 coupon bonds. Every bond purchased came with 2 1/2 share of stock. Probably my example was from an unlucky bond buyer of this company. The overly optimistic completion date for the project was not met. The road of 8 miles was finished but the bridge was not when the company fell into the control of receivers in August 1891. The bridge was still uncompleted when the company was sold in foreclosure in 1893 to the Kansas City and Atlantic Railroad.

reference:
  • Evening Transcript Nov. 21, 1889
  • Poor's Manual of Railroads 1891
  • Poor's Manual of Railroads  1893
  • Poor's Manual of Railroads 1895

Monday, April 7, 2014

A New Specimen

click on image to enlarge

Finding issued certificates from this St. Louis street car company is difficult. In Terry Cox's data base he only list five stock certificates in all varieties. I would love to have an issued one until then this pretty specimen will have to do. It is a new color variety also.

History of the line: In 1898 the company was chartered as the successor of the Central Traction Company Inc.
The city of St. Louis authorized it to build 79.50 miles of street railroad on some of the most important streets and give it authority to acquire by lease or purchase any other street railroad in St. Louis. The company  with the next two years did just that by acquiring railroad lines, properties and franchise or the most all the stock of seven street railroad companies. This consisted of cable and electric street roads with a mileage of 419.5 in operation, under construction and authorized.

In 1899 the St. Louis Transit Co. was charted by the city of St. Louis with the main purpose of to acquire , lease and operate until 1939 any and all lines of the United Railways Co. The St. Louis Transit Co. leased all the lines of U. Rys. from 1899 to 1905. In 1905 U. Rys. purchase the St. Louis & Suburban Railway unifying the city's street rail network.

Links of interest:
Reference:
  • Poor's Manual 1903