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Postal Telegraph & Cable Company Stock Certificates & Bond (126363)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Industrial Start Price:75.00 USD Estimated At:150.00 - 250.00 USD
Postal Telegraph & Cable Company Stock Certificates & Bond  (126363)
SOLD
120.00USD+ (30.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Dec 17 @ 18:44UTC-8 : PST/AKDT
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Lot of 3 different. 1) Postal Telegraph Company $1,000 bond issued in 1882. Stamp cancelled. Signed by vice president Cummings and treasurer Allen. Black border and print, bald eagle vignette. Hamilton Bank Note Co. 14 coupons attached. 9.5 x 15" 2) Two different stocks for the Postal Telegraph & Cable Corporation. Issued in 1931 and 1938. ABN. Vignette with logo and two allegorical men. This company consolidated with Western Union in 1943. It was founded in the 1880s by Comstock mining millionaire John Mackay. Mackay's original purpose was to provide a domestic wire network to directly link with the Atlantic Cable. Mackay built the Postal network by the purchase of existing firms that were insolvent. The company was initially called The Pacific Postal Telegraph Cable Co. Under president Albert Brown Chandler, the Postal network was able to achieve sufficient economy of scale to compete with Western Union, occasionally controlling as much as 20% of the business.

Date: 1882-1938
Country (if not USA):
State: New York
City: New York
Provenance: Ken Prag Collection

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