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Lot 1460: VERA CRUZ AND MEXICO RAIL ROAD

Auction No.57 of Antique Stocks & Bonds

by Boone Shares - The Scripophily Center

October 29, 2016

Brussels, Belgium

Live Auction
Sold
Looking for the realized and estimated price?

Description: 1 September 1857 MEXICO. 5% Bond $100=£20. Serie A. black. #10000. No 2739. Vignette of a great pile of weapons. Text in Spanish and English. The loan was raised by the Mexican Government in 1857 to finance the construction of a railway from the Caribbean port of Vera Cruz to Mexico City. In 1857 a concession was granted to construct a line from the port of Veracruz on to Mexico City and onward to the Pacific Ocean. Revolution and political instability stifled progress on the financing or construction of the line until 1864, when under the regime of Emperor Maximilian, theImperial Mexican Railway Company was formed in London, and began construction on the line. Name changed 1867 to Mexican Railway Co.Ltd, after the fall of Emperor Maximilian. Continued political upheaval continued to stifle progress and the initial segment from Veracruz to Mexico City was inaugurated nine years later in 1873. Later nationalistic fever in Mexico led the administration to bring the bulk of the nation's railroads under national control. The plan, implemented in 1909, created a new government corporation, Ferrocarriles Nacionales de México (FNM), which would exercise control of the main trunk rail lines through a majority of share ownership in the rail lines. The Mexican Railway Co. Ltd assets were sold to the Mexican Government in 1946. Of the 71 different Mexican railroad and tramway pieces we have registered since 1990 in our database, this is by far the oldest (the second oldest one is a bond of the Mexican Pacific Railway dated 1889). We know of only two pieces, hence Rarity 11.

Condition Report: VF

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