Beautifully engraved uncancelled $1000 Bond certificate from the Buchanan & Clifton Forge Railway Company - Virginia 1877
This historic document was printed by the American Banknote Company and has an ornate border around it with no vignette, small shields in corners, horizontal format, wavy title, bearer coupon, 8%, 30-yr, 1877, due 1907. This item has the signatures of William P. Munford as Secretary and John W. Johnston as president. 58 unused coupons attached on bottom. Light staining in center as seen in the scan.
The Richmond and Alleghany Railroad was built along the James River along the route of the James River and Kanawha Canal from Richmond on the Fall Line at the head of navigation to a point west of Lynchburg near Buchanan, Virginia, and combined with the Buchanan and Clifton Forge Railway Company to reach Clifton Forge, Virginia.
In 1887, Confederate States Veteran Major John W. Johnston, father of author Mary Johnston, became the last president of the James River and Kanawha Canal. On the verge of financial collapse, the James River and Kanawha Canal was expected to go bankrupt, however, Major Johnston is credited with the creativity which kept the company afloat until a deal was closed with the Richmond and Alleghany Railway Company to purchase the assets of the James River and Kanawha Canal Company ending its ninety - five year existence, passing into history making way for the construction of the Richmond and Alleghany Railway along the town path of the James River and Kanawha Canal, the easiest grade from the Appalachian Mountains to the Atlantic Seaboard.
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