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Sewanee Mining Company Stock Certificate

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:150.00 USD Estimated At:300.00 - 600.00 USD
Sewanee Mining Company Stock Certificate
SOLD
250.00USD+ (62.50) buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Jun 23 @ 15:45UTC-7 : PDT/MST
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Incorporated in 1852—Rail Road Privileges 1854. Cert. #244, issued to Robert M. Stratton of New York for 500 shares. Signed by Samuel Tracy, president, and H. Ward Barnes, secretary. Not cancelled. Vignette at left of cross-section of a mining scene, with miners on the surface hoisting up buckets from below. “State of Tennessee” is printed above and below this vignette. Another vignette is at the center showing a coal train steaming beside a mountain lake. Black border on crème paper with an embossed seal that has a locomotive at its center. Printer: E.B. Clayton’s Sons, N.Y. Datelined New York. 7 ½ x 9 ½.” Folds, light wear. In 1850, when railroads were still in their infancy, an engineer by the name of A.E. Barney promoted the idea that steam locomotive equipment of the 1850s would be capable to ascending the Cumberland Mountains. Samuel Tracy and some other investors gave Barney the go-ahead to build a railroad from the town of Cowan to Sewanee, Tennessee—a feat many thought impossible. At about the same time, Mr. Leslie Kennedy , a Pennsylvanian and former coal miner, found traces of coal while exploring the Cumberland Plateau near Sewanee. While he tried to find investors to develop these coal deposits few were interested, until he became acquainted with Samuel Tracy and A.E. Barney. After a visit to the mountain, the three decided to incorporate the Sewanee Mining Company, build a railroad to the plateau and mine the coal there. This was the steepest grade of any railroad in the country at that time. Within 2 years of the first coal delivery in 1856, the rail line was extended to Tracy City and the stage was set for one of the longest-running enterprises in the nation. It continued for 127 years until 1985; the name was changed to the Tennessee Coal, Iron and Railroad Company after the Civil War, when the tracks had to be rebuilt due to the devastation of the War. [Ref:www.mountaingoattrail.org/mountain-goat-trail-history.htm]. Date: 1855 Location: Grundy County, Tennessee HWAC# 62930