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Cape Fear Navigation Company Stock Certificate, 1852

Currency:USD Category:Collectibles / Paper Start Price:250.00 USD Estimated At:500.00 - 1,000.00 USD
Cape Fear Navigation Company Stock Certificate, 1852
SOLD
1,200.00USDto A*******s+ buyer's premium (300.00)
This item SOLD at 2018 Jun 25 @ 14:19UTC-7 : PDT/MST
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Very rare and early piece issued to Benjamin Rush, who served as the captain of the steamer Henrietta. No. 364, issued for 13 shares on Dec. 14th, 1852. Signed by the president Thomas H. Hall. Not cancelled. 6.5 x 7" Heavy toning. Incorporated in 1811 to work Cape Fear River from Wilmington to Fayetteville. Its purpose, especially during the 1820s and 1830s, was to “clear the [Cape Fear] river of logs and shoals” so that steamboats could pass by in the 100 miles between Fayetteville and Wilmington. Eventually, the company made a 27-foot canal that allowed for an increase in traffic during the 1840s and 1850s. The amount of traffic in 1859, for instance, enabled the CFNC to pay $1,950 in dividends to the state. [Ref: http://northcarolinahistory.org/encyclopedia/cape-fear-navigation-company/] Date: Location: Fayetteville, North Carolina HWAC# 62840