Archives International Auctions Sale 69 August 4, 2021 U.S. & Worldwide Banknotes, Scripophily, Coins,

Archives International Auctions - Sale 69 120 August 4, 2021 Archives International Auctions www.archivesinternational.com Michigan 749 749 Lake Erie Transportation Co. 1890 Specimen Bond Rarity Michigan, 1890. $1000 Specimen 6% First Mortgage Coupon Bond, Black text with ornate green border and undertint, Large ship at sea at top center. Red specimen overprints, 0000 serial number and POCs. VF condition, ABNC. The Lake Erie Transportation Company, commonly known to marine men as the Wabash Lake Line, was owned and operated by the Wabash Railroad Company. A. W. Colton, of Toledo, was president and general manager, and R. H. Hebard, the agent at Buffalo. The company’s principal trade, east, consisted of grain and flour; and west, of general merchandise, connecting at Buffalo with the Erie, Lehigh and Lackawanna railroads. The Wabash line owned and operated the steamers: Geo. J. Gould, S. C, Reynolds, Russel Sage, and John C. Gough. When the steamer Gould was built in 1893, the A. L. Hopkins, formerly owned by the company, was taken in trade by the Union Dry Dock Company, of Buffalo. The steamer Morley, also one of its boats, went ashore at Grand Marie, Lake Superior, in 1887. ��������� Est. $250-375 New Jersey 750 750 International Mercantile Marine Co., 1916 Historic Specimen Bond from J.P. Morgan Controlled Company. New Jersey, 1916. $5000 Specimen 6% Registered First Mortgage and Collateral Trust Sinking Fund Gold Bond, Black text with olive border and underprint, Ships in port at top center. Red specimen overprints, 00000 serial numbers, and POCs. Fine-VF condition, ABNC. The International Mercantile Marine Company, originally the International Navigation Company, was a trust formed in the early twentieth century as an attempt by J.P. Morgan to monopolize the shipping trade. IMM was founded by shipping magnates Clement Griscom of the American Line and Red Star Line, Bernard N. Baker of the Atlantic Transport Line, J. Bruce Ismay of the White Star Line, and John Ellerman of the Leyland Line. The Dominion Line was also amalgamated. The project was bankrolled by J.P. Morgan & Co., led by financier J. P. Morgan. The company also had working profit- sharing relationships with the German Hamburg-Amerika and the North German Lloyd lines. The trust caused great concern in the British shipping industry and led directly to the British government’s subsidy of the Cunard Line’s new ships RMS Lusitania and RMS Mauretania in an effort to compete. One of IMM’s subsidiaries was the White Star Line, which owned the RMS Titanic. Analysis of financial records shows that IMM was overleveraged and suffered from inadequate cash flow that caused it to default on bond interest payments in late 1914. As a result, a “friendly” receivership was put in effect in 1915, which allowed IMM to reorganize its finances; it emerged from the receivership in 1916. This is a specimen example from that bond issue and is extremely rare and not known issued. ���������������������������������������������������������������������������������������������������������� Est. $325-650 751 751 Southern Transportation Co. 1932 Specimen Bond New Jersey, 1932. $1000 Specimen 7% First and General Mortgage Marine Equipment Serial Gold Coupon Bond, Black text with orange border and undertint, Ships in water at top center. Red specimen overprints, 00000 serial numbers, and POCs. Fine condition with damage to right margin and splits along fold lines, ABNC. ������������������������������������������������������� Est. $65-130 New York 752 752 American Merchants Union Express Co. 1869 Issued Stock Certificate Signed byWilliam FargoWith Imprinted U.S. Revenue New York, 1869. 100 Shares I/C Capital Stock Certificate, Black text with black border and an orange imprinted internal revenue stamp at center, Men driving horse carriage at top center. Cancelled stamps, adhesive internal revenue stamp on back and imprinted 5 Cents Revenue with Lincoln facing left on the front middle, Fine condition with some staining at top right corner. The American Merchants Union Express Company was organized in 1868 through the merger of the Merchants Union Express Company and American Express Company. The company was renamed American Express Company in 1873. Signed by William Fargo as President, who was also the 27th Mayor of Buffalo, serving from 1862 until 1866 during the U.S. Civil War. ����������������������������������������� Est. $140-260