Archives International Auctions Auction 85 May 23, 2023

Archives International Auctions - Sale 85 122 April 4, 2023 Archives International Auctions www.archivesinternational.com Indiana 599 599 State of Indiana, 1852 I/UWabash and Erie PreferredSpecial Canal Stock/Bond Certificate Indiana, 1852. $1,100.00 I/U 5% Preferred Special Canal Stock Certificate #302, Blue text with ornate blue border. VF condition. The Wabash and Erie Canal was a shipping canal that linked the Great Lakes to the Ohio River via an artificial waterway. The canal provided traders with access from the Great Lakes all the way to the Gulf of Mexico. Over 460 miles long, it was the longest canal ever built in North America. In 1846 Charles Butler, representing the canal bondholders, proposed that the state turn responsibility of the canal over to the bondholders in exchange for bondholders assuming half the debt and the land granted for construction. Butler also proposed that the state issue new bonds at 4 percent yearly interest for the other half of the debt, with an option for the state to redeem the certificates at its discretion. This ended state control of the canal and put the Wabash and Erie Canal in the hands of private trustees by 1847. The most successful years for the canal were between 1847– 1856. Its peak year was 1852 when tolls reached $193,400. Eventually, cheaper, faster, and more convenient trains made the canal obsolete. Portions south of Terre Haute were closed by 1860; the decline continued until 1876 when the canal was officially auctioned off by the trustees and closed. �������������������������������������������������������������������������������� Est. $140-250 Maine 600 600 Portland & New York Steamship Co., 1867, I/U Stock Certificate Maine, 1867. 3 Shares Capital Stock I/U Stock Certificate, Black on black border with Steam ship with sails at top center, 25 cent revenue stamp at right side, S/N 33, VF-XF condition. David Bros. ��������������������������������������������������������������������������������������������� Est. $180-350 New York 601 601 International Mercantile Marine Co., 1902 Specimen Bond New York, 1902. $1000 Specimen 4.5% Registered Mortgage and Collateral Trust Gold Bond, Black text with brown border and underprint, Scene of ships in bay at top center. Red specimen overprints, 00000 serial numbers, POCs. VF to XF condition with some toning along fold lines, 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. �� Est. $130-260 SCRIPOPHILY - OIL, GAS & ENERGY Delaware 602 602 U.S.-Mex Oil Corp., ND (1910-1920), Progress Proof Stock Certificate Mexico, (Inc. in Delaware), ND (1910-1930) Black on off white paper stock certificate without a border or underprint, printed on a heavier paper. Allegorical woman at top between two vignettes. Fine condition with toning. RBNC. ������������ Est. $55-110