Pacific railroad bond, 1865
From: "John Kelsey" xo-xo-x@comcast.net
I have bond #58 of the 1865 railroad bond & would like an estimate of its insurance value. I do not plan on selling it since my great-great-grandfather was E.B. Crocker who was the lawyer for the Big Four. ... My great-grandmother was Jennie Crocker Fassett. ...
Here are the best photos I could take of this Pacific Railroad bond. It is signed by M(W?) R Shaber (Shabir?) on the right side above the coupons. There are 31 coupons still attached and the bond has been cancelled. It's in very good shape other than wrinkled and a couple creases from being folded. ...
If you might comment on the insurance value (just an estimate) I will appreciate it. I have been to the RR Museum in old town Sacramento & the Crocker Art Museum twice each which are 2 great places. ...
Any thoughts will be appreciated.
—John Kelsey
I have bond #58 of the 1865 railroad bond & would like an estimate of its insurance value. I do not plan on selling it since my great-great-grandfather was E.B. Crocker who was the lawyer for the Big Four. ... My great-grandmother was Jennie Crocker Fassett. ...
Here are the best photos I could take of this Pacific Railroad bond. It is signed by M(W?) R Shaber (Shabir?) on the right side above the coupons. There are 31 coupons still attached and the bond has been cancelled. It's in very good shape other than wrinkled and a couple creases from being folded. ...
If you might comment on the insurance value (just an estimate) I will appreciate it. I have been to the RR Museum in old town Sacramento & the Crocker Art Museum twice each which are 2 great places. ...
Any thoughts will be appreciated.
—John Kelsey
posted from CPRR Discussion Group at 7:31 AM
7 Comments:
Can't be of much help with the insurance value, and unable to make an appraisal.
Only have price data for a single bond, which was sold for $150 probably at least two decades ago. But that bond had a tax stamp affixed, and was sold at a stamp auction, so the price primarily reflected the value of the stamp, not the value of the bond.
Don't know how many survived the SF 1906 earthquake. Heard indirectly that someone had a stack of them for sale years ago, but don't know the number or the asking price.
See related.
On Jun 6, 2021, at 8:50 PM, "John Kelsey" xo-xo-x@comcast.net wrote:
Hello, I have Dutch Flat bond #58 from the start of the RR. How many of the original 1000 bonds still exist & what value do they have? I am the GGG Grand son of E B Crocker & would just like to know.
Please note there are no rips or tears, just some folding.
—John Kelsey
Can you please clarify why the description is "Dutch Flat"? The bond indicates it was issued by the City and County of San Francisco.
Is the description "Dutch Flat" because the San Francisco bonds were the subject of the "Dutch Flat Swindle" pamphlet?
Believe this is the same bond that you inquired about previously [see above].
The Great Dutch Flat Swindle!! The City of San Francisco Demands Justice!! The Matter in Controversy, and the Present State of the Question. An Address to the Board of Supervisors, Officers and People of San Francisco. [San Francisco: 1864.] ...
8vo (222 x 134 mm). 131, [1] pp.
FIRST EDITION. From the opening address: "By virtue of an act of the Legislature ... the proposition was submitted to the voters, for the Board of Supervisors 'to take and subscribe $400,000 to the capital stock of the Western Pacific Railroad Company, and $600,000 to the capital stock of the Central Pacific Railroad Company.' The Central Pacific Railroad Company is the one of which Governor Leland Stanford then was and still is President, and of which Judge Crocker is the attorney and legal adviser. The proposition to subscribe to the stock of both companies was submitted as one proposition, and was carried in the affirmative. To give some idea of the extent and the open and shameless character of the fraud and bribery used to carry the election, reference is made to the judicial affidavits and documents set forth in the following pages."
Cowan II p 188; Graff 1632; Sabin 28444; Streeter sale 2885 ... Not in Howes.
Courtesy of Bonhams.
Also see, The Big Four and the ‘Dutch Flat swindle' by Mark McLaughlin.
Post a Comment
<< Recent Messages