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Clearfield Bituminous Coal Corp. 1891 Specimen Bond

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:40.00 USD Estimated At:85.00 - 170.00 USD
Clearfield Bituminous Coal Corp. 1891 Specimen Bond
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Pennsylvania, 1891. $100 Specimen 4% First Mortgage Sinking Fund Gold Bond, Black text with brown border and underprint, Men at work in mine depicted at top center. Red specimen overprints, 0000 serial number, POCs. Fine condition, ABNC. The Clearfield Bituminous Coal Corporation traces its beginnings to the old McIntyre Coal Company of Lycoming County, Pennsylvania. In 1882, the corporation acquired coal lands in Clearfield County, and in 1903, in Indiana County as well. Within the next few years, the corporation’s Indiana County field developed quickly. The CBC, however, was an unusual kind of coal company as it sold no coal. In 1898, the CBC charter was amended to prohibit the corporation from selling coal, and after that year, all commercial activity was discontinued. Accordingly, the corporation’s mines became producers of "captive tonnage," and all coal mined was used solely as locomotive fuel for the New York Central Railroad. Rare specimen bond, only 2 examples found in the ABN Archives.