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Gilpin Tramway Company (77277)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Transportation Start Price:50.00 USD Estimated At:100.00 - 200.00 USD
Gilpin Tramway Company  (77277)
SOLD
375.00USD+ (93.75) buyer's premium + applicable fees & taxes.
This item SOLD at 2019 Mar 10 @ 16:26UTC-7 : PDT/MST
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68 cancelled shares of Gilpin Tramway Company cert/ #87 issued to Bradford H. Locke on Jan. 16, 1889. Assigned. Inc. CO. Grey border and raised company seal. Signed by Frederick K. Krure, sec. and Robert A. Campbell, pres. Vignette of train running through valley. In April 1859, John H. Gregory discovered alluvial gold in Clear Creek, near Golden, CO, which was concentrated in the north branch of Clear Creek. By the summer of 1860, 61 mills and 30 arrastras were in operation and the population had risen to 15,000. By the mid-1860's, gold deposits that were easily reach had been exhausted. Smelter set up in Black Hawk in 1865, allowed gold to be extracted from hard rock ore. In 1870, the Colorado Central Railroad was formed to provide transportation to the region with construction starting in Sept. 1871, and 1st train arrived at Black Hawk Dec. 15, 1873. Still a need to get gold-bearing quartz ore to mills of Central City and Black Hawk and still turn a profit. Solution was the Gilpin Tramway Co., formed on July 29 in Central City by Henry C. Bolsinger, Bradford H. Locke, Robert A. Campbell, Andrew W. Rogers and Henry J. Hawley. Company was to build a 2-ft narrow gauge railroad to transport ore from the mines above Black Hawk to the mills. By 1910 Gilpin was at greatest length of 26.46 miles. C&S bought the Gilpin at the height of its profitability. Profit margins were dropping due to increased cost to extract the gold and fixed prices in the gold market. Soon the Gilpin was not turning a profit. The last train ran on January 17, 1917. The railroad was sold for scrap in June 1917. Printed: Collier & Cleaveland Lith Co, Denver, CO. Prag collection.

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State: Colorado