The South Pennsylvania Railroad Company Gold Bond

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The South Pennsylvania Railroad Company Gold Bond - 1885 - RARE

The South Pennsylvania Railroad Company Gold Bond - 1885

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Our Price: $268.00

Sale Price: $225.00

Vintage Stock Certificate

Product Code: SC2172

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Description

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This scarce $1000 Gold Bond from The South Pennsylvania Railroad Company was issued in 1885 and signed by president Robert H. Sayre. It has a large tape repair. Oddly, every example of this bond we have found has this same tape repair. It is hand-signed. The New York Central Railroad strived to build an east to west line across southern Pennsylvania to compete with the Pennsylvania Railroad. Financed by William Vanderbilt, the Southern Pennsylvania Railroad project was halted in 1886 after 26 lives were lost and the cost spiraled to over $10 million. J.P. Morgan and the Pennsylvania Railroad took over the project and it was quickly abandoned. The railway was never completed.

Robert H. Sayre
This Gold Bond is signed by Robert H Sayre. Sayre's first engineering work was on the Morris Canal in New Jersey and the construction of the Mauch Chunk Switchback Railway. He became the Chief Engineer of the Lehigh Valley Railway and grew the expansion north and west through Pennsylvania and New York. He was one of the founders of the Bethlehem Iron Company which became Bethlehem Steel Corp. His mansion in Bethlehem still stands today as a Bed and Breakfast and is known as the Sayre Mansion. The Sayre Observatory was raised in his honor and the he was a Charter Trustee of Lehigh University and a trustee of St. Luke's Hospital.