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AL - Talladega,1855 - Alabama Copper Stock Certificate

Currency:USD Category:Collectibles / Western Americana Start Price:200.00 USD Estimated At:400.00 - 800.00 USD
AL - Talladega,1855 - Alabama Copper Stock Certificate
Session D is a Mail-Bid Only Auction. Absentee bids will be accepted only. No live bidding will be allowed. All winners will be contacted after the auction. BIDDING ENDS MONDAY JUNE 27 AT 5PM PACIFIC TIME!!!
No. 184 issued to Bearer by W. Taylor, secretary, and John M. Moore, president, on 2 July 1855. Datelined Talladega, Alabama. Hand written across the right side, "Only transferable on the books of the company." Unusual. The stock also says it is "to pay one Dollar in every 2400 Dollars called for to pay Expenses until a mine or mines are opened defraying said Expenses and if not paid in three months after the call is made, this Share is forfeited." The company worded the document to have monetary factors in their favor. For example, the document further says, "The Bearer also has to pay twenty-five Dollars to the original owners out of the first nett [sic] profits of said property." In other words, if the expenses are not paid, the share is forfeited and if there are any profits, the company gets $25.00 off the top. It sounds like the Bearers were about to make a bad investment.