1184

Principio Company 1773 Colonial Maryland Bill of Exchange.

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:320.00 USD Estimated At:400.00 - 800.00 USD
Principio Company 1773 Colonial Maryland Bill of Exchange.

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Auction Date:2011 Nov 14 @ 10:00 (UTC-4 : AST/EDT)
Location:3 West Club, 3 West 51st Street,, New York, New York, 10019, United States
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The auction will take place at the 3 WEST CLUB at 3 W. 51st Street (at Fifth Avenue), New York, NY 10019
Maryland, September 8th, 1773. 105 Pounds Sterling, 1st of Exchange, North East Forge. William Russell, one of the founders of this early Colonial Maryland iron company is listed on the front of the exchange. Endorsed on the back by V. Busigny, T. Gildart and others. VF+ condition. Serial # 222. The Principio Company formed in London as a joint stock company in 1720 to take advantage of new laws passed in Maryland to encourage the early iron industry. The original investors were Joshua Gee, Joseph Farmer, William Russell, Thomas Russell, John Ruston, and Stephen Onion. Iron master John England joined the partnership two weeks later. By 1729, one of the partners was Augustine Washington, father of George Washington. This exchange charges the Kingsbury Furnace. As the Principio Forge deteriorated, and in spite of repairs in 1772, it was no longer in operation by 1776. VF to XF condition, Historic Maryland Iron Company Bill of Exchange.