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Asylum Company Stock Certificate (Robert Morris Land Company) [134146]

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:200.00 USD Estimated At:400.00 - 800.00 USD
Asylum Company Stock Certificate (Robert Morris Land Company)  [134146]
SOLD
600.00USD+ (150.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2021 May 13 @ 10:04UTC-7 : PDT/MST
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Early certificate associated with one of the signers of the Declaration of Independence. 8.25 x 7" No. 719, issued for on share to company secretary James Gibson on April 7th, 1802 in Philadelphia. Signed by Gibson and Archibald McCall as president. Not cancelled. Folds, chip on top center and missing bottom right corner. Some discoloration. Robert Morris (one of the signers of the Declaration), John Nicholson, and others organized the Asylum Company in April 1794 to develop and sell land that they had already acquired in Luzerne, Northampton, and Northumberland counties. Their business plan was to sell the land to French émigrés seeking refuge in America from the French and Haitian revolutions, such as King Louis XVI Marie Antoinette. Many of these émigrés were among the company’s first customers, and several purchased land in Bradford County on the northern branch of the Susquehanna River, establishing the settlement of Azilum (near Towanda). The land speculation bubble burst, and in 1801, the company was reorganized after both founders, Nicholson and Morris went bankrupt. Following the reorganization, the company was headed by a group of Philadelphia merchants, such as McCall and Gibson.

Date: 1802
Country (if not USA):
State: Pennsylvania
City: Philadelphia
Provenance: Ken Prag Collection