Beautiful interim bond certificate from the Commercial Cable Company
issued in 1897. This historic document and has an
ornate border around it with a vignette of a transatlantic cable map and their corporate globe logo showing the Mackay Bennett System. This item has the signatures of the Company's v. President, George G. Ward and Secretary, Albert Beck and is over 119 years old. Ledger page attached on left; minor edge wear VF+.
George Gray Ward was vice-president and general manager of the Commercial Cable Company, general manager of the Commercial Pacific Cable Company, and president of the United States and Haiti Telegraph and Cable Company.
The Commercial Cable Company was founded in the United States in 1884 by John William Mackay and James Gordon Bennett, Jr.. Their motivation was to break the then virtual monopoly of Jay Gould on transatlantic telegraphy and bring down prices (particularly for Bennett's newspaper empire).
The technology was well established by this time and they were able to lay cables from Waterville in Ireland to Canso, Nova Scotia without the major technical problems of the first Transatlantic telegraph cable. Onward connections to New York etc were initially overland and later submarine. Connections from Waterville to Weston-super-Mare in England and Le Havre in France were soon established by the submarine route after initial use of landlines from Waterville onward to mainland Britain.
The company flourished and remained as a trading name even though subsumed by ITT until the 1970s at least. The undersea cables remained in use carrying telegraph traffic until 1962. In 1998 cables were briefly visible going out to sea at Waterville and are probably still there.
History from Wikipedia and
stock certificate research service)