Illinois Central Rail-Road Company Provisional Certificate for One Construction Bond of $1000. -- or at 4s. 2d. Sterling, per Dollar, L208.6.8. Sterling.
After two decades of false starts and endless stalls, in February 1851 the Illinois legislature at last incorporated the long-anticipated Illinois Central Railroad Company. Staking and surveying began immediately, and the first section -- running between Chicago and Calumet -- opened for traffic on May 24, 1852. Despite the fact that this railroad was the first ever to receive a federal land grant, they had a difficult time finding investors to purchase these bonds. Item #22271
Printed Document, 1p, 12 3/4" X 13¼", New York, NY, 1852 August 16. Very good. Minor edgewear; bit of edgewear on some original folds (not weakened). Printed on pale blue stock, this handsome provisional certificate promises a six percent return. Typical boilerplate text, with a variety of ornamental typefaces, signed at the conclusion by the company president (Robert Schuyler, president and director from 1852 to 1854) at lower right and company secretary (S.A. Lofson) at lower left, both heavily cross-hatched to cancel. Attractive ornamental border, and below this the lower quarter consists of nine small coupons on which the interest payments are recorded, all but one signed and heavily cancelled. Several large "Cancelled" and "Interest Paid" inkstamps cross these coupons, the main boilerplate text and the signatures area. All in all a most attractive piece -- scarce, from the earliest days of this important undertaking.
Price: $100.00