Dundee Water Power and Land Co. 1882 Specimen Bond by Homer Lee BNC.

Currency:USD Category:Collectibles / Historical Memorabilia Start Price:55.00 USD Estimated At:90.00 - 180.00 USD
Dundee Water Power and Land Co. 1882 Specimen Bond by Homer Lee BNC.

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Passaic, New Jersey, 1882. $500 Specimen 6% Mortgage Coupon Bond, Black text with black border and red underprint, Train passing by utilities building at top center. POCs, Return to Issue Room stamp at back. VF condition with some adhesive marks at back of coupons. HLBN. The Dundee Manufacturing Company (DMC), incorporated 1832, built the Dundee Dam across the Passaic River c. 1833, replacing an earlier wing dam it had built c. 1830. The DMC, which had reorganized in 1850, built the Dundee Canal between 1858 and 1861. This canal was not financially successful for navigation, and the company went into receivership in 1864. It reorganized as the Dundee Water Power and Land Company (DWPLC) in 1872, and the company's new emphasis on supplying water and selling land was more lucrative. The Dundee Canal Industrial Historic District was added to the National Register of Historic Places on January 21, 1999. Rare Homer-Lee Specimen Bond and one of the earliest imprints of this company we have ever seen. It was taken over by ABNC in 1891.