International Rail Road Company Bond – Galusha Grow & Ira H. Evans Sig. (MOH)

Description

International Rail Road Company Bond – Galusha Grow & Ira H. Evans Sig. (MOH)
Offered for your consideration is a large, and very attractive, coupon bond issued in 1874 by a Texas railroad, signed at the conclusion by politician and businessman principally associated with Pennsylvania. The central vignette features a period steam locomotive, with associated tender and rolling stock, smoke billowing from its forward stack. A second train can be seen crossing a bridge in the background. Above this, in bold letters, is “
THE International Rail Road Company
/
OF TEXAS
” while below, in slightly smaller letters, is “
SECOND MORTGAGE BOND
”. The serial number appears at the upper left, while the denomination can be seen in the opposite corner. Flanking the vignette is a statement which indicates that this bond was “
DUE FEBRUARY 1
ST
1904.
/
INTEREST AT EIGHT PER CENTUM PER ANNUM, PAYABLE
/
SEMI-ANNUALLY FREE FROM ALL TAXES.
”. The body of the document states (in part) “
Know all men by these presents: that The International Railroad Company acknowledges itself indebted to John S. Barnes and Thomas W. Pearsall, or bearer, in the sum of ONE THOUSAND DOLLARS, lawful money of the United States… on the first day of February, A. D. Nineteen hundred and four, with interest hereon at the rate of EIGHT per centum per annum …
”. It further states that “
… This Bond is one of a series of the same tenor and date, the payment whereof is secured by a second mortgage … on the said Company’s entire railroad, its Jefferson Branch and main trunk road, built and to be built … and upon its road bed and tracks, sidings, turn outs, depots, stations and cars, engines, tools and machinery …
”. The closing paragraph indicates that “
… The International Railroad Company has caused this bond to be subscribed by its President and Secretary, and its corporate seal affixed hereto, this Fifteenth day of January, A.D. Eighteen hundred and seventy-four.
”. This is followed by the signatures of “
Ira H. Evans
” and “
Galusha A. Grow
” in their capacities as “
SECRETARY
” and “
PRESIDENT
” respectively, as well as that of “
Thos W Pearsall
”, who signs as a “
TRUSTEE
”. A reddish-pink “
00
” security printing can be seen atop the financial obligation at the center, with the same ink being used for the decorative border which encloses the foregoing material. Below this are 60 interest coupons, each valued at “

”, with the company name, the redemption date, and an engraved signature of Evans also present. A reddish-pink number highlights the center of each coupon, obviously intended to facilitate the redemption (it is easier to see the number than the printed date). The back of the bond features a short recapitulation of the terms of the bond, signed at the conclusion by Grow, as well as numerous blank spaces for the subsequent transfer and registration of the bond. The back of each coupon recaps the number, though this time in black. A fantastic item to frame and display in your office or den.
Ira Hobart Evans
was born on April 11, 1844 in Piermont, New Hampshire, though after the death of his father, he moved with his mother to Barre, Vermont. In July, 1862, Evans enlisted as a private in Company B, 10
th
Vermont Volunteer Infantry. In December, 1863, he was commissioned as a 1
st
lieutenant in the 9
th
United States Colored Troops, and advanced to captain in the 116
th
United States Colored Troops in January, 1865. In March of that year, Evans was promoted major by brevet “for gallant conduct and meritorious services” and assigned as assistant adjutant of the XXV Army Corps, a part of the Army of the James. On April 2, 1865, he performed an act of extreme bravery in acquiring important information, for which he would subsequently be awarded the Medal of Honor. On April 17, 1865, Evans was one of the officers of the honor guard for President Abraham Lincoln as he lay in state in the East Room of the White House. He remained in the military, serving in Brownsville, Texas until transferred to New Orleans, Louisiana in September, 1866. Evans was discharged at Louisville, Kentucky, in February, 1867. Moving to Texas, Evans was elected to the Texas House of Representatives in 1869, and the following year, he served as Speaker of the House (he was only 26 years old at the time – the youngest person ever to hold that post). He was removed from office in 1871. Entering into several business ventures, Evans served with the Texas Land Company, the Houston and Great Northern Railroad, the International-Great Northern Railroad, the New York and Texas land Company, and was a founder of the Austin National Bank. He was also with the Austin Electric Railway Company, as well as a founder of the Texas Life Insurance Company. He retired to San Diego, California, in 1921. Ira H. Evans died on April 19, 1922 in San Diego, California and was buried in Berlin Corners Cemetery, Berlin, Vermont.
Medal of Honor Citation
:
For extraordinary heroism on 2 April 1865, while serving with Company B, 116
th
Colored Infantry, in action at Hatcher’s Run, Virginia. Captain Evans voluntarily passed between the lines, under heavy fire from the enemy, and obtained important information.
Galusha Aaron Grow
was born in Ashford (now Eastford), Connecticut on August 31, 1823, though he moved to Glenwood, Pennsylvania in May, 1834. Following attendance at Franklin Academy and graduation from Amherst College, Grow studied law and was admitted to the bar in 1847. He was elected to the United States House of Representatives, serving from March 4, 1851 through March 3, 1863, the first several years as a Democrat, though the remainder were as a member of the newly formed Republican party. From July 4, 1861 through March 4, 1863, Grow served as the Speaker of the United States House of Representatives. Following his defeat for re-election in 1862, Grow was a delegate to the Republican National Convention in 1864 and 1868. He moved to Houston, Texas in 1871 to become president of the International-Great Northern Railroad, a position he would hold until 1875. In that year, Grow returned to Pennsylvania and practiced law from 1875 through 1894. In the latter year, Grow returned to the United States House of Representatives, serving from February 26, 1894 through March 3, 1903. Galusha A. Grow died in Glenwood, near Scranton, Pennsylvania on March 31, 1907 and was buried in the Harford Cemetery in Harford, Pennsylvania.
The presently offered example exhibits signs of light period wear, followed by years of moderate storage. Toning is noted across the entire surface, imparting to the paper an off-white to light beige hue. This toning is slightly darker at the edges and along the fold lines. The majority of these folds are relatively light, though the central one has somewhat affected the integrity of the paper. Numerous wrinkles and creases can be seen at the edges, easily covered if this piece were matted and framed for display (a very popular use for pieces of this type). The contrast is average for the issue, though the denomination at the center may be a little lighter than normal. Some very minor tears at the edges are noted for accuracy, as these would also be easily covered with a mat if the bond was framed. Measuring approximately 16¾ x 27¾ inches, this piece would make a great addition to any railroad or Texas bond collection. An attractive reminder of a bygone era.
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A .00 charge will be added to any item picked up in person at our physical location.
If you have any questions regarding 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