Description

    The New Orleans, Mobile and Texas Railroad Company $1000 Bond 1872. One page. 16.5" x 23". February 1, 1872. Printed by Henry Seibert & Brothers, New York. Retains sixty-six coupons. Signed by the company's president and secretary. With patriotic vignette. Slightly toned with two minute holes in the fold creases; else very good.

    The New Orleans, Mobile, & Chattanooga Railroad was chartered in 1866. The N.O.M. & C. was reorganized on April 18, 1871 and became the New Orleans, Mobile & Texas Railroad. To construct a rail line from Mobile to New Orleans, the N.O.M. & Texas Railroad issued 4000 first mortgage coupon bonds valued at $1000 each and paying 7% semi-annually. In July 1874, the company defaulted on its payments to the trustees. The L&N Railroad leased the property of the N.O.M. & T. on May 8, 1880. On October 5, 1881, the L&N Railroad purchased all the assets of the reorganized New Orleans, Mobile, & Texas Railroad for $6,000,000.


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    Auction Dates
    June, 2008
    14th Saturday
    Bids + Registered Phone Bidders: 0
    Lot Tracking Activity: N/A
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