Gulf, Texas and Western Railway Company Stock Certificate – Un-Issued

Description

Gulf, Texas and Western Railway Company Stock Certificate – Un-Issued
Offered for your consideration is an un-issued stock certificate from the early 1900’s prepared for the use by a Texas railroad. The central vignette depicts a period steam locomotive and tender, with associated passenger cars. This train crosses a trestle bridge from right to left, with what appears to be a body of water below. Above this, presented in an arc, is a statement noting that this company was “
INCORPORATED UNDER THE LAWS OF TEXAS
”, with “
CAPITAL STOCK
/
0,000.
” to the left and “
PAR VALUE OF SHARES
/
0 EACH
” to the right. Immediately below the vignette is a decorative frame, within which is printed, in bold type, “
Gulf, Texas and Western Railway COMPANY
”. The body of the certificate is dominated by the financial obligation, printed atop a green protectorate, which states (in part) that “
This Certifies that ____________ is the owner of _______________ Shares of the Capital Stock of Gulf, Texas and Western Railway Company … In Witness the Company has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal to be hereunto affixed this _______ day of ________ 19 __
”. Two additional blank lines appear at the bottom, one for the signature of the “
Treasurer
” and the other for that of the “
President
”. All of the foregoing material is enclosed in a relatively large, decorative border, with conical design elements interspersed on each side. The back bears a partly-printed form, to be completed when the shares within were transferred. This piece was printed by the “
NEW YORK BANK NOTE CO.
”, apparently on a “
STEEL PLATE STOCK FORM
”, as stated at the bottom center on the front. A small notation at the lower left reads “
Oct – 08
”, presumably when this piece was produced. This piece may be a pattern or pre-production issue (possibly held as an example for later re-purchase), as there are numerous strategically placed small holes and a penciled code on the back. An interesting and attractive reminder of this relatively short-lived railroad. Would look great framed with an illustration of a period locomotive or station along the line.
Cursory research indicates that the
Gulf, Texas and Western Railroad
was chartered on November 2, 1908 (this is particularly interesting, given the manuscript date penned on the bottom of the presently offered certificate). The line was to connect Benjamin in Knox County to Burr’s Ferry in Newton County, a distance in excess of 400 miles. In reality, however, only ninety-eight miles of track were laid. The total capital was set at 0,000. Apparently, the principal financier was Joseph J. Jermyn of Scranton, Pennsylvania. In 1930, the St. Louis-San Francisco Railway purchased the capital stock of the GT&W, though after several years with annual losses, the line was abandoned in 1939. The Chicago, Rock Island and Gulf Railway apparently absorbed seventy-six miles of the line in 1940.
The presently offered certificate, as previously noted, was never issued, and therefore, exhibits no signs of period use (though the punch cancellations were probably contemporary with the printing). It does, however, show signs of less than ideal long-term storage. Toning is present across the entire document, significantly more pronounced at the edges and on the mostly blank back. Minor wrinkling can be found, particularly along the edges. One diagonal fold can be seen in the upper right corner. The left edge is perforated, presumably where it was attached to the stub that would contain the pertinent information to the certificate. The contrast, as expected, is sharp and bold. As noted earlier, there are numerous period, punch cancellations where manuscript additions would be on an issued stock. Measuring approximately 8¼ x 11⅜ inches, this piece would be a great addition to any railroad stock collection.
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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