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Asylum Company 1801 (YES 1801) stock certificate! (119420)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:250.00 USD Estimated At:500.00 - 800.00 USD
Asylum Company 1801 (YES 1801) stock certificate!  (119420)
SOLD
250.00USDto 8*************e+ buyer's premium (62.50)
This item SOLD at 2020 Jun 26 @ 23:04UTC-7 : PDT/MST
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# 685 to James Gibson. Signed by secretary Gibson and president Archibald McCall. Torn/cut roughly However, the meat of the certificate is untouched and in amazing condition being over 200 years old. This was a land company that Robert Morris heavily invested in. Morris was a signer of the Declaration of Independence, became known as the financier of the Revolution, delegate to the second Continental Congress and United States Senator. He would go deeply in debt in land speculation during the Panic of 1796 and 97. Although Asylum Land was meant to be an endeavor by French émigrés, prominent Senator Robert Morris and Pennsylvania Comptroller General John Nicholson created the Asylum Company in April 1793. The company's Articles of Agreement laid out the business plan for an area that would consist of one million acres covering a large part of what are today Bradford, Sullivan, and Lycoming counties. The site of Asylum was a small fraction of this area, only sixteen hundred acres, but the company intended to sell the remaining land to future French émigrés. Without the financial support of Morris and Nicholson, Asylum would not have been possible. The businessmen's financial risks and eventual bankruptcy, however, were also part of the colony's demise.

Provenance:
Country (if not USA):
State: Pennsylvania
City/County: Philadelphia
Date: 1801