RARE 1870 GOLD LOAN NORTHERN PACIFIC RAILROAD NP BONDS BANK PA AD BROADSIDE MAP

Description: 1870 Jay Cooke & Co. NEW 7-30 GOLD LOAN NORTHERN PACIFIC RAILROAD BROADSIDE AD W/MAP #3(Northern Pacific Railroad Company) Jay Cooke & Co. NEW 7-30 GOLD LOAN OF THE NORTHERN PACIFIC RAILROAD CO. SECURED BY FIRST MORTGAGE ON RAILROAD AND LAND GRANT. SAFE! PROFITABLE! PERMANENT! ... FOR SALE BY JAY COOKE & CO. FISCAL AGENTS NORTHERN PACIFIC RAILROAD CO. Philadelphia, New York and Washington, D. C. Jay Cooke & Co., n.d. [1870?] RED OVERPRINT (FOR SALE BY MECHANICS' BANK LANCASTER, PENNA.). Single sheet, 17 x 10 inches, printed on both sides, large map of the projected system on verso. This bond issue was approved by Congress in May 1870. The Northern Pacific Railway, a transcontinental railroad that operated across the northern tier of the western United States from Minnesota to the Pacific Northwest, was chartered by Congress on 2 July 1864. It was given nearly forty million acres of land grants to be used to raise money for construction. New England businessman and promoter Josiah Perham (1803-1868) was elected its first president on 7 December 1864. For the next six years, backers of the road struggled to find financing. "The backing and promotions of financier Jay Cooke in the summer of 1870 brought the first real momentum to the company. In 1873, Northern Pacific made impressive strides before a terrible stumble. Rails from the east reached the Missouri River on June 4. After several years of study, Tacoma, Washington, was selected as the road's western terminus on July 14, 1873. For the previous three years the financial house of Jay Cooke and Company had been throwing money into the construction of the Northern Pacific. As with many western transcontinentals, the staggering costs of building a railroad into a vast wilderness had been drastically underestimated. Cooke had little success in marketing the bonds in Europe and overextended his house in meeting overdrafts of the mounting construction costs. Cooke overestimated his managerial skills and failed to appreciate the limits of a banker's ability to be also a promoter, and the danger of freezing his assets in the bonds of the Northern Pacific. Cooke and Company went bankrupt on September 18, 1873. Soon the Panic of 1873 engulfed the United States, beginning an economic depression that ruined or nearly paralyzed newer railroads ... Northern Pacific slipped into its first bankruptcy on June 30, 1875" PLEASE SEE ALL PICTURES FOR CONDITION AND SIZE!! NICE ORIGINAL RARE 10x17 BROADSIDE, DAMAGE CORNERS, TEARS, FOLD MARK, WEAR AS SEEN IN PICTURES & WOULD BE A GREAT FRAME AND NICE ADDITION TO YOUR COLLECTION!! CHECK OUR STORE & OTHER AUCTIONS FOR MORE EARLY POSTCARDS, TOYS, VINTAGE PAPER, OTHER GREAT DEALS, WIN TWO OR MORE ITEMS AND SAVE ON SHIPPING!!1) PLEASE LEAVE POSITIVE FEEDBACK IF HAPPY WITH ITEM AND WE WILL DO THE SAME FOR YOU!! DO NOT LEAVE NEGATIVE OR NEUTRAL FEEDBACK BEFORE CONTACTING ME IF THERE ARE ANY PROBLEMS OR CONCERNS; WE CAN REMEDY ANYTHING AND I WANT TO KEEP YOU AS A SATISFIED CUSTOMER! THANKS 2) NO RESERVE...so bid to win and good luck. Look closely at the pictures,what you see is what you get! We always have a good selection of antique, vintage toys , early paper and collectibles on auction or in our store, so be sure to click on my other items or go to our My Stores Logo!3) NO SASE's - We send all sports cards, postcards and advertisement paper in plastic types of sleeves or Acrylic Cases with cardboard!!4) Any Questions on items Please send us a email on that item your looking at by going to Questions and answers about this item and click on "ask a question"..5) We will ship USPS Standard Mail & priority and Local pickup is allowed for heavy items. ALL ITEMS THAT ARE SENT PRIORITY WILL BE INSURED FOR UP TO $50, If a item sells for over $50 I will cover extra INSURANCE cost on that item!!6) International bidders are welcome on MOST items but we used The Global Shipping Program, (its not the cheapest but we can track it and guarantee shipment). 7) Payment is by all acceptable forms of payment under Ebay guidelines, including PayPal, and expected within SEVEN days of close of auction. (ALL ITEMS WILL BE SENT WITHIN 3 DAYS OF PAYMENT) Be sure to add me to your favorites list!

Price: 89.99 USD

Location: Hampstead, Maryland

End Time: 2024-10-26T13:04:27.000Z

Shipping Cost: N/A USD