3280

Northern Pacific Railroad Pass for END OF TRACK VIA DULUTH [130508]

Currency:USD Category:Collectibles / Railroadiana, Trains Start Price:100.00 USD Estimated At:200.00 - 300.00 USD
Northern Pacific Railroad Pass for END OF TRACK VIA DULUTH  [130508]
SOLD
300.00USDto r******8+ buyer's premium (75.00)
This item SOLD at 2021 Oct 30 @ 12:03UTC-7 : PDT/MST
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This is a unique piece of railroad ephemera. #5131 to Major Earnest Dateline Brainerd, Minnesota. This is Jay Cooke piece. Cooke was a major investor in the Civil War. After the war, Cooke became interested in the development of the northwest, and in 1870 his firm financed the construction of the Northern Pacific Railway. Cooke fell in love with Duluth, Minnesota, and decided he must make it successful. To this end he began purchasing railways with the dream of reaching the Pacific to bring goods through Duluth into the Great Lakes shipping system and on to the markets of Europe. In advancing the money for the work, the firm overestimated its capital, and at the approach of the Panic of 1873 it was forced to suspend operations. Cooke himself was forced into bankruptcy. It would not be until 1880 that he righted is financial issues and was able to move forward with the Northern Pacific RR. Lighter paper – heavy folds.

Date: 1873
Country (if not USA):
State: Minnesota
City: Duluth
Provenance: