Lot 682
Early Pennsylvania Railroad Agreement. Document Signed. One page, two pages, oblong quarto, Philadelphia, June 8, 1863. Being a mortgage agreement. In black ink. Docketed on the integral leaf. With original wafer seals affixed to the second page. With one vertical and three horizontal folds, toning along folds and a few minor spots. In very good to fine condition overall.
In this mortgage negotiation, the Pennsylvania Railroad Company enters a contract with one William Howell agreeing that "they shall and will reduce the rate of interest from six per centium per annum to four per centium per annum for the period of four years…". An attractive document, this interesting record was penned just prior to the completion of the transcontinental railroad, and the dawning of the Industrial Revolution. Marking the date, the railroad's own incorporation seal is boldly affixed to this piece, imprinted with the steam engine that would become the future of transportation.
Estimated Value $100 - 150.
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| Realized $58 |
