00 Richmond & York River Rail Road Company Coupon Bond - 1866

Description

00 Richmond & York River Rail Road Company Coupon Bond - 1866
Offered for your consideration is an attractive and historic bond issued just after the Civil War to help repair the damage caused to the railroad by that conflict. Headlined, “
Office of the Richmond & York River Rail Road Company
”, this piece features two evocative vignettes representing the hoped for progress of the era. The one at the viewer’s left depicts a paddlewheel steamer bravely struggling through a turbulent sea (interestingly, this ship is very similar to those used in blockade running during the recently completed Civil War), while the one to the right depicts a period steam locomotive with associated rolling stock, smoke billowing from its stack. These two scenes are neatly separated by the location of the office, in the “
CITY OF RICHMOND, VIRGINIA
”. A lengthy financial obligation states (in part) that “
The Richmond & York River Rail Road Co. promise to pay to A. W. Morton or bearer ONE THOUSAND DOLLARS, on the first day of January One thousand eight hundred & Seventy seven with Interest at the rate of eight per centum per annum …
”. This statement continues, indicating that “
… This bond is issued in lieu of Bond No. _____ which was part of a debt of 7,000 outstanding against the Company & which has been retired in order to allow the creation of a new debt of 0,000 for the reconstruction of the Road …
” and that it was “
… secured by a Mortgage on the Road, its franchises, & effects, & all the nett revenues of the Company are pledged …
”. It was signed and sealed “
… this
Six
day of
January
186
6
…
”, with the signatures of “
Richard Morton
” as “
Tresr
” and “
Alex Dudley
” as “
Prest
” below. A lovely, blue underprint featuring a representation of the Virginia state seal appears at the center, flanked by the denomination in large numerals. All of the foregoing elements are enclosed in a decorative border, with fancy scrollwork at the corners, and neatly separated from the nine remaining interest coupons. Each of these coupons is valued at “
… Forty Dollars …
” and is signed at the conclusion by “
R Morton
”. The back features a short, partly-printed recapitulation of the important points of the bond (name of the issuer, bond number, denomination, due date). This attractive bond was printed by “
Ludwig & Keatinge Engrs Richmond, Va.
”, as evidenced by their imprint at the bottom center (both of these gentlemen worked as engravers for the Confederacy, though with different partners, during the war). An interesting reminder of the need to generate funds to rebuild the various railroads severely damaged or destroyed by the recently completed Civil War. This piece would look great prominently displayed in an office or den.
The Richmond and York River Railroad Company
was incorporated in 1853, with the state of Virginia subscribing to 60 per cent of the capital stock. On March 29, 1861, the line opened from Richmond to West Point, on the York River, a total of 39 miles (West Point was a port at the head of the York River). Initially, the line made a profit transporting supplies for the Confederacy, but it was wrecked during the Peninsula Campaign of 1862, and lay abandoned for several years. It was rebuilt after the close of the war, reopening in 1867. The company defaulted on its payments and its mortgages were foreclosed in December, 1872. Under a deed dated July 4, 1873, the line was reorganized under the general law of Virginia as the Richmond, York River and Chesapeake Railroad. Following several financial difficulties and corporate issues, the line (along with others) began operations as part of the Southern Railway Company on July 1, 1894.
The presently offered specimen exhibits signs of moderate period use and subsequent long term storage. Toning is present across the entire surface, imparting to the paper a light tan color. A few scattered foxing spots are noted for accuracy, as these are small and do not seriously affect the overall eye appeal of the piece.
In common with virtually all documents of this type, several horizontal and vertical folds are present (these folds occurred when the bonds were placed in safes or the cubbyholes of desks). The paper at these folds is intact, though weak, with small holes present at the junctures. The contrast is sharp and bold, with all printed and manuscript material fully legible. Minor ink show through is noted at the manuscript additions, though the paper is still intact. Interestingly, ink transfer from the main title is visible, obviously occurring when the bond was folded for storage. Measuring approximately 13⅛ x 13⅞ inches, this historic piece would make a great addition to any railroad bond collection.
A charge of .95 will be added to the winning bid for postage and insurance.
If you have any questions concerning this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA