1237

U.S. Department of the Interior - 1894 Specimen U.S. Federal Cherokee Nation Bond.

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:1,100.00 USD Estimated At:1,750.00 - 3,500.00 USD
U.S. Department of the Interior - 1894 Specimen U.S. Federal Cherokee Nation Bond.
SOLD
1,100.00USDto d****1+ buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Oct 05 @ 17:03UTC-4 : AST/EDT
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Washington, D.C., Cherokee Outlet, Oklahoma Territory, 1894 (Due March 4th, 1896), $1000, 4% Indebtedness of the United States of America, Certificate of Ownership, The Union Trust Company of New York was the trustee that administered this U.S. Federal bond, Vignette of Cherokee Indian on top title and bank building on left. Red-brown border. Red specimen overprint, POC's and "00000" serial numbers. XF condition. Location of the "Cherokee Outlet" was a strip of land in Oklahoma territory. Specimen "Certificate of Ownership in 4% Indebtedness of United States of America, Due 1899". Back has legend "It is hereby certified that the United States of America have agreed to pay the "Cherokee Nation" the sum of Eight Million, Three Hundred Thousand Dollars ($8,300,00)in five equal annual installments, beginning.....at a rate of four per centum per annum, in consideration of the purchase by the U.S. of A. from the Cherokee Nation of certain lands known as the "Cherokee Outlet." The front of the bond has additional text "This indebtedness was incurred by the United States of America for the purchase from the Cherokee Nation of certain lands known as the Cherokee Outlet under an ACT OF CONGRESS APPROVED MARCH 3rd, 1893 and has been purchased from the Cherokee Nation and assigned as per copy of certificate of the Secretary of the Department of the Interior endorsed hereon to the UNION TRUST COMPANY OF NEW YORK, which holds it as trustee. Evidently, the Cherokee Nation did not want to wait for the annual settlement and took a discounted lump sum from R.T.Wilson & Company as factors. The amount of discount is not listed. Extremely rare and historic U.S. Federally bond.