1893 00 Queen City Railway Company Gold Bond – Impressive

Description

1893 00 Queen City Railway Company Gold Bond – Impressive
Offered for your consideration is an impressive coupon bond, issued in 1893 and payable in gold coin of the United States. The central vignette features a ¾ view of a period streetcar, with a conductor beckoning you aboard. The name of the company is printed on the end, while their initials appear on the board above the wheels. The car is surrounded by what appears to be a mass of dark clouds, though a break in the storm is left for the principal element. At the top of the clouds, printed on a ribbon, is “
FIRST MORTGAGE
”, with “
5/25
” and “
SINKING FUND
” below. Flanking the central element is “
GOLD BOND
”, while “
OF THE Queen City Railway Company
” follows. A short statement indicating that this was “
A CORPORATION UNDER THE LAWS OF TEXAS
” and that it was part of a “
TOTAL AUTHORIZED ISSUE 0,000.00
” complete the impressive header. Immediately below is a lengthy financial obligation which states (in part) that “
For Value Received the Queen City Railway Company, established in the City of Dallas, in the County of Dallas, and State of Texas, promises to pay The State Trust Company, Trustee herein after named, or bearer, or if registered, to the registered holder, the sum of ONE THOUSAND DOLLARS in Gold Coin of the United States of present standard of weight and fineness … in twenty five years from the date hereof … with interest on said sum at the rate of six per cent per annum, payable semi-annually, in like Gold Coin, …
”. It continues by indicating that “
… This bond is one of a series of three hundred and seventy six bonds, of which said series three hundred and forty four are of the denomination of one thousand dollars each, …
” and that “
… Payment of this bond, and of the coupons attached, is secured by a Trust Deed … in the possession of said, The State Trust Company …
”. As a guarantee for this issue “
… said Queen City Railway Company has caused these presents to be signed in its behalf, by its President, and its corporate seal to be hereto affixed and attested by its Secretary, and the attached coupons each to be authenticated by an engraved fac-simile of its Treasurer’s signature, this first day of July A.D. 1893
”. This is followed by the company name, as well as the signatures of “
C L Wakefield
” and “
A. W. Childress
”, who sign as the “
Secretary”
and “
President
”, respectively. A gold “$
1000
” protectorate can be seen at the center, with the same color seal at the lower left. All of the foregoing elements are enclosed in a highly decorative border composed of geometric patterns, with “
United States OF AMERICA
” at the top. Attached to the document are forty-five “

” interest coupons, each bearing the serial number and date of redemption, as well as the company name and the facsimile signature as noted. The back of the bond features a “
Trustee’s Certificate
” signed at the conclusion by “
J. Q. Adams
” in his capacity as “
Vice President
”, a geometric design, a recapitulation of the important information, and a “Registration” form. Each of the coupons bears a geometric design, as well as a redemption number. The bond was printed by the “
DALLAS LITH. CO.
” as evidenced by their imprint below the issuer’s name of the front. Given the impressive size and color contrast of this bond, the seller believes that it would look fantastic framed, especially hanging in a Dallas office or den.
Cursory research seems to indicate that the Queen City Railway Company was formed in 1892 or early 1893 (this would correspond well with the date on the bond). They apparently merged with the Dallas City Street Railway in February, 1898, forming the Dallas Consolidated & electric Street Railway Company.
The currently offered bond exhibits signs of period use, a not uncommon situation considering the large size and the type of document involved. The most obvious issue is the large number of folds present, several of which have weakened the paper along the seams. There are some minor paper separations at the junctions of the folds and at the edges, virtually all of which could be repaired with archival tape if desired. Light toning is present across the surface, imparting to the paper an off-white to beige hue. This toning is more noticeable along the folds, especially on the back (it appears that this toning is more pronounced on the back due the presence of soil, since this was the outside when the piece was folded for storage). Numerous small holes are noted, their exact nature and function being unknown to the seller (they do, however, seem to form a pattern). The contrast is sharp and bold, making this a wonderful candidate for framing. Measuring approximately 17 x 28 inches when laid out, this bond would make a great addition to any streetcar or Texas related collection. Eye catching!
A .95 charge will be added to the winning bid for postage and insurance.
A .00 charge will be added to any item picked up in person at our physical location.
If you have any questions regarding this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA