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Pensacola and Atlantic Railroad Co., 1884 Land Mortgage Group with 1904 Mortgage Cancellation & Rele

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:95.00 USD Estimated At:140.00 - 280.00 USD
Pensacola and Atlantic Railroad Co., 1884 Land Mortgage Group with 1904 Mortgage Cancellation & Rele
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Florida, 1884 & 1904, Lot of large Land Mortgage and railroad documents, all bound together in one piece. Includes a handwritten 1884 indenture, regarding the Pensacola and Atlantic Railroad borrowing money to discharge its debts. Includes subsequent documents, such as a typed record confirming the mortgage, as well as a 1904 bond cancellation document, type written. Multiple localities with their respective clerks have signed and notarized this large mortgage which was signed by the president, Milton H. Smith and the secretary of the Pensacola and Atlantic Railroad. The P&A was a company incorporated by an act of the Florida Legislature on March 4, 1881, to run from Pensacola to the Apalachicola River near Chattahoochee, a distance of about 160 miles (260 km). No railroad had ever been built across the sparsely populated panhandle of Florida, which left Pensacola isolated from the rest of the state. Once the P&A was created, De Funiak was named president of the new road, and Chipley became its vice president and general superintendent. On May 9, 1881, the L&N obtained control of the P&A by purchasing the majority of its $3 million worth of capital stock and all of its bonds, also valued at $3 million. Historic railroad document for the serious Florida railroad collector.