Holman Locomotive Speeding Truck Co. (109974)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Transportation Start Price:75.00 USD Estimated At:150.00 - 400.00 USD
Holman Locomotive Speeding Truck Co.  (109974)
100.00USDto b****5+ (25.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Feb 15 @ 12:15UTC-8 : PST
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Investment jacket of Matilde Lee Johnson, w/certificates, correspondence, and receipts.

The Holman Locomotive and Speeding Truck Co. was incorporated under the laws of Iowa back in the 1890’s. It was a scam where the company made false claims of a locomotive with increased speed by using a special design of its wheels. This startling curiosity of locomotive design was to become known as Holman’s Absurdity. The engine was run a few trips on a straight railroad in New Jersey, which was used merely as a stimulant to stock selling. Unfortunately many people with limited savings were allured, into investing their hard earned money in this swindle.

This lot contains personal correspondence from W.J. Holman President signed, which include articles, receipts, instructions on the offering, letter of company structure Two certificates: Banknote #4321, I/U, of 1 share $100 par, issued April24, 1896 signed W. Holman President. Black, vignette of the Holman locomotive, E.A. Wright Bank Note printer, near AU. Cert. not numbered, I/U, One share , issued March 1, 1896 signed W. Holman President. Black, No vignette, embossed seal, unknown printer . F cond. The correspondence, while complete, is fragile. Even Holman himself referred to the company as "so called". Also included is the story of the "The Holman Humbug".

Provenance: Ken Prag Collection
Country (if not USA):
State: Iowa
Date: 1896