2330

Citizens Steam Navigation Company on Blue Wells, Fargo & Co., Bankers Check, San Francisco (123745)

Currency:USD Category:Collectibles / Paper Start Price:100.00 USD Estimated At:200.00 - 300.00 USD
Citizens Steam Navigation Company on Blue Wells, Fargo & Co., Bankers Check, San Francisco  (123745)
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Gold Rush! Number 79 issued to CW Barr for $190.00. Signed by agent Chapman. In an effort to stabilize rates and keep themselves profitable. the steamboat owners and pilots organized the California Steam and Navigation Company on March I, 1854. Essentially a monopoly (there were no anti-trust laws at this time) it set rates for freight and passengers sailing the Sacramento and San Joaquin Rivers. Still. there were some who felt the CSNC rates were unfair. Because

Marysville was in competition with Sacramento for trade in the northern mines, her merchants resented the higher rates charged them. Not to be outdone. they organized their own shipping company the "Citizens' Steam Navigation Company" - also known as "The Opposition. The competition between CSNC and the Citizens' Steam Navigation Company was intense if brief.

Their interests centered around the large steamer Queen City soon joined by the large

stem-wheeler Young America. Both companies lost much money; a compromise was reached where the Queen City was subsidized by the CSNC. [HISTORICAL SITES AND SHIPWRECKS

ALONG THE SACRAMENTO RIVER]



Date: 1854
Country (if not USA):
State: California
City: San Francisco
Provenance:

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