South Carolina Railway Co. bond certificate 1881
Awesome older SC railroad piece. Left and right vignettes of cotton field workers. Issued and not cancelled bearer bond. Measures approximately 9" by 12.5". Folds as shown in the picture. Dated 1881 in the certificate text.
Incorporated 1881 when the South Carolina Railroad went bankrupt (1878). On November 1, 1881, South Carolina Rail Road Company was sold in foreclosure to the organizers of The South Carolina Railway Company, which was incorporated under the general laws of South Carolina on October 17, 1881, as amended December 24, 1885.
After entering receivership in 1889 which lasted for five years under the aggressive management of Daniel H. Chamberlain, former Reconstruction governor of the state, the South Carolina Railway Company was reorganized as South Carolina and Georgia Railroad Company, under the general laws of South Carolina, May 12, 1894, amended by act of December 24, 1894.
The South Carolina and Georgia Railroad became part of the Southern Railway system in 1902. The Southern Railway Company acquired control of the SC&G in 1899, and in 1902, a lease was executed between the two railways giving the Southern the right to operate the South Carolina & Georgia Railroad Company for 999 years from July 1, 1902. The lease, still in effect, expires in the year 2901.