Morgan's Louisiana & Texas Railroad & Steamship Co. 1879 Specimen Bond Rarity

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:300.00 USD Estimated At:450.00 - 750.00 USD
Morgan's Louisiana & Texas Railroad & Steamship Co. 1879 Specimen Bond Rarity

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New Orleans, Louisiana and Texas, 1879. $500 Specimen 6% Coupon Bond, Black text with black border and green underprint with train at center passing along river scene under curved title. Cut-out cancellations on signature lines at bottom, Fine-VF condition. Incorporated April 1, 1878, as successor to the New Orleans, Opelousas and Great Western. About 1883 the Morgan's Louisiana and Texas Railroad and Steamship Company came under the influence of Central Pacific management and on March 1, 1885, was leased to the Southern Pacific Company, but was operated as a separated company until title transferred to the Texas and New Orlean on March 1, 1927. The road had about fifty locomotives, which, in 1884, went into the T&NO roster, although the initials ML&T, indicating corporate ownership, remained on the engines until 1916. Rare and possibly unique bond and it is the same (and possibly only) example pictured in Cox.