MARIETTA & NORTH GEORGIA RY Bond 1887. GA - NC. Atlanta - Knoxville Narrow Gauge

Description

Marietta and North Georgia Railway Company. Bond issued January 1, 1887. Chartered in 1887 in the States of Georgia and North Carolina.
Embossed company seal lower center. Serial No. 1742 ,000 6% 50-Year First Mortgage Consolidated Gold Coin Bearer Bond Principal Due 1937.
Coupons No. 8 through 100 remain attached in two sheets
. Hand signed by company president and treasurer. Certificate is about 9.5” x 14.5.” Black print with brown overprint/underprint on beige-colored paper.
Beautifully engraved vignette with train being boarded at station.
The Marietta and North Georgia Railway Company was chartered in 1887 to build and operate a narrow-gauge rail line from Marietta, Georgia via Murphy, North Carolina, to Knoxville, Tennessee. The company was first chartered as the Georgia & North Carolina Railroad Company in 1871. One of the purposes of the road was to haul marble from quarries in northern Georgia and iron ore from mines in North Carolina.
The Ellijay Railroad, incorporated in 1854, was the first attempt to build a rail line from Marietta to the north Georgia mountains. It was followed by the Marietta, Canton & Ellijay Railroad and the Marietta & North Georgia Railroad. Construction finally started in 1874, and the line from Marietta to Canton was completed in May of 1879. It was extended to Marble Cliff in 1883, to Ellijay in 1884, and to Murphy, North Carolina in 1887.
In 1887, the company was consolidated with the Georgia & North Carolina Railroad and renamed as the Marietta and North Georgia Railway. Originally built as a 3-foot narrow gauge, the line was converted to standard gauge in 1889-90, except for the Blue Ridge-Murphy branch, which was not changed over until late in 1897.
On August 9, 1890, the line became part of a through route from Atlanta to Knoxville when the Knoxville Southern Railroad, a subsidiary, completed tracks from Tennessee to Blue Ridge. In early 1891, the railroad entered receivership, but it wasn’t until 1896 that it was sold. The Atlanta, Knoxville and Northern Railroad, chartered in June of 1896, became the successor to the Marietta & North Georgia Railway. Six years later, in 1902, the Louisville & Nashville Railroad acquired the line.
Condition:  Very Fine+++
, very light bond folds, very minor creasing, no tears, very light signs of wear/handling/toning (see photos)
,
uncancelled.
Printer:
Homer Lee Bank Note Company, New York.
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