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American Submarine Company Stock Certificates [155820]

Currency:USD Category:Coins & Paper Money / Stock & Bond - Transportation Start Price:50.00 USD Estimated At:100.00 - 200.00 USD
American Submarine Company Stock Certificates [155820]
SOLD
250.00USD+ (62.50) buyer's premium + applicable fees & taxes.
This item SOLD at 2023 Jan 21 @ 15:25UTC-8 : PST/AKDT
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Lot of 4 unissued stocks. All identical design: black border and print, red seal, and tow vignettes (ship and allegorical). Printed by Ferd Mayer & Sons, NY. A group of Northern speculators formed the American Submarine Company to take advantage of a vote in the U.S. Congress to approve the use of privateers. However, when President Abraham Lincoln declined to accept the authority, construction of this consortium's submarine, the Intelligent Whale, languished. The boat was not completed until 1866, long after the war ended. It was eventually used to search for sunken treasure off the coast of Venezuela. Several efforts to sell it to the U.S. Navy which held formal acceptance trials in 1872. The Intelligent Whale failed.

Date: c.1870s
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State: New York
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