1873 SOUTH MOUNTAIN RAILROAD COMPANY 0 GOLD BEARING BOND PENNSYLVANIA

Description

United States of America.
The South Mountain Railroad Co.,
State of Pennsylvania.
First Mortgage Gold Bearing Bond, 0.
[Scripophily]. Bell, William H. (president) & Jacob G. Heilman (secretary), issued to
Hiester Clymer and George Dawson Coleman.
South Mountain Railroad Company, First Mortgage Gold Bearing Bond, no. 1807,
February 1st, 1873. Folio, single sheet folio (27.5 inches by 17.75 inches) folding to 9 inches by 4.25 inches (as issued). Original engraved mortgage bond including 60 coupons (complete), with applied corporate seal, & illustration depicting onlookers viewing a train on a railroad bridge over water. The document is signed in ink on the recto by President William H. Bell & Secretary Jacob Heilman & by trustees & investors Clymer & Coleman on the verso.
Condition:
Small split at one fold intersect, browned mostly affecting one panel on the verso, lightly soiled, easily Very Good or better.
Please see photos.
”The South Mountain Railroad was an American railroad which operated in Pennsylvania.
The railroad was incorporated May 5, 1854 by a group of largely local investors. It was to run from Harrisburg to Jonestown, from thence along the south side of Blue Mountain to Rehrersburg and to Hamburg. The name was changed to the Harrisburg and Hamburg Railroad on March 17, 1859, but was changed back to "South Mountain Railroad" on May 21, 1873. On April 11, 1868, the South Side Railroad was incorporated to connect the South Mountain Railroad, at the border of Berks and Lehigh Counties (near Hamburg) to the Delaware River, via Lehigh, Moore, or Plainfield Townships in Northampton County.
Around 1872, these lines were taken over to become part of the Poughkeepsie Bridge Route. Grading began on the South Mountain Railroad between Rockville and Linglestown, and the corporate enrollment tax was paid for the South Side Railroad in 1873. However, the collapse of the Bridge Route plans in the Panic of 1873 brought work to a halt. On February 16, 1874, President William H. Bell announced that the company would also build a branch from Strausstown to Reading, via Bernville, and claimed that two-thirds of the line between Harrisburg and Strausstown was complete. However, the financial climate made it impossible to raise significant funds ...”
Courtesy Wikipedia.
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