2275

Morris Canal & Banking Company of 1844, Consolidated Stock, Issued 1858 [128591]

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:100.00 USD Estimated At:200.00 - 400.00 USD
Morris Canal & Banking Company of 1844, Consolidated Stock, Issued 1858  [128591]
SOLD
60.00USD+ (15.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2021 Feb 12 @ 11:47UTC-8 : PST/AKDT
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Chartered by the state legislature in 1824, the Morris Canal and Banking Company was to build an artificial waterway between the Hudson and Delaware rivers. When completed in 1837, the canal measured 109 miles in length and over 1,000 feet in elevation, and contained 23 inclined planes and 34 locks. Unfortunately, the company went bankrupt soon thereafter due to construction cost overruns and the depression of the late 1830s (nj.gov/state archives). The canal prospered briefly until 1866. Railroads curtailed their business until it ceased in the late 1880's. Attractive certificate has a fancy vignette with red underprint and circular red stamp cancels. VF.

Date:
Country (if not USA):
State: New Jersey
City: Jersey City
Provenance: Ken Prag Collection