Cairo City and Canal Co. 1838 I/C $1000 6% Coupon Bond.

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:120.00 USD Estimated At:200.00 - 400.00 USD
Cairo City and Canal Co. 1838 I/C $1000 6% Coupon Bond.

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Cairo, Illinois, 1838, $1000 6% Coupon Bond, Ink Cancelled with ink burn in cancellation areas, Fine to VF condition. Rare and very early Canal Bond. The city is located at the confluence of the Ohio and Mississippi rivers. Fort Defiance, a Civil War camp, was built at the confluence in 1862 by Union General Ulysses S. Grant to control strategic access to the river. Cairo has the lowest elevation of any location in Illinois and is the only Illinois city to be surrounded by levees. It is in the area of Southern Illinois known as Little Egypt. The first municipal charter for Cairo and for the Bank of Cairo were issued in 1818, but without any settlement and without any depositors. A second and successful effort to establish a town was made by the Cairo City and Canal Company in 1836–37, with a large levee built to encircle the site. Historic bond issued in 1838 when the town was formed.