Auction Date:2009 Jun 24 @ 10:00 (UTC-04:00 : AST/EDT)
Location:6270 Este Ave., Cincinnati, Ohio, 45232, United States
lot of 10 items, nine documents and a St. Anthony Falls Water Power Co. $1000 Mortgage Bond; 13" x 16" (sight), framed to 20.5 x 23.5"; coupons for 1860-1864, all cancelled. The documents are all dated 1856 and are primarily mortgages, indentures, and deeds for land and titles to St. Anthony Falls property. Signatories include Franklin Steele, Thomas E. Davis, Frederick C. Gebhard, Richard Chute.
Water was the primary thoroughfare for much of the 18th and early 19th centuries, and most major cities developed around major rivers and bays. The falls of St. Anthony is the only major waterfall on the Mississippi River, so in addition to transportation, the falls supplied power to what would become an important milling complex. In 1837, a treaty with the Ojibway opened the east bank for settlement. Franklin Steele made the first private land claim in 1838. He and the sutler at Fort Snelling secured the land on the east side of the falls and corresponding water rights. Steele platted the town of St. Anthony in 1849 and built a mill and dam along the river. By 1855 the population had grown from 300 to 3000.
The west bank was part of Fort Snelling until 1852, when the land was opened for settlement. In 1853, Robert Smith purchased the land with the same intentions as Steele, and the town of Minneapolis developed as rapidly as St. Anthony had. In 1856 both Smith and Steele formed joint stock companies to develop the waterpower of their shorelines. The east group became the St. Anthony Falls Water Power Company, the west group the Minneapolis Mill Company. The "newcomer" grew more rapidly than its established competitor across the river, and in 1873 the towns merged.
In the 1860s, flour mills replaced sawmills and by the 1880s Minneapolis was the largest flour producer in the nation, a title held for half a century. At the same time, the "newfangled" phenomenon of electricity was becoming popular, and by 1882 powered the lights in the business district. It took three-quarters of a century for all the mills to convert to electric, however.
An interesting lot relating to the formation of the St. Anthony Falls Water Power Company, one of the foundations upon which Minneapolis was built. [see Minneapolis Heritage Preservation Commission: http://www.ci.minneapolis.mn.us/hpc/landmarks/St_Anthony_Falls.asp]
Condition: As expected or slightly better.
Auction Location:
6270 Este Ave., Cincinnati, Ohio, 45232, United States
Previewing Details:
Tuesday, June 23, 12:00 PM - 5:00 PM
Wednesday, June 24 8:00 AM - 10:00 AM
Taxes:
| Tax | Rate | Desc. |
| Ohio |
5.5% |
Ohio State Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
17.5% |
Additional Fees:
Shipping Details:
Cowan's is happy to provide a shipping estimate in advance of the auction. We have partnered with an outside shipper - Wrap-It Postal. Their services to our respected customers are based inside the Cowans facility.Please contact Wrap-It Postal by email at shipping@cowans.com, or call 513.871.1670 (ext.19). You can also submit a request for an online quote . All shipping and packing costs will be charged separately by Wrap-It Postal to your credit card on file.
Cowan's is in no way responsible for the acts or omissions of independent handlers, packers or shippers of purchased items or for any loss, damage or delay from the packing or shipping of any property.
ADVICE TO INTERNATIONAL BUYERS: Cowan's will not ship any package containing a firearm to any location other than within the United States. Buyers outside the United States must make their own shipping arrangements taking full risk for the transportation of any firearm.
Buyers are required to pay for all packing, shipping and insurance charges. Overseas duty charges are the responsibility of the successful bidder. Be aware that for larger and/or valuable items, shipping charges can be substantial.
Payment Details:
The purchase price for each lot shall equal the hammer price, buyer's premium, sales tax and, if applicable, all packing, handling, insurance and shipping costs. Payment may be made with cash, personal or traveler's check, Visa or MasterCard.
Buyers who are present at the auction must pay the full purchase price at the time of the sale. Buyers who bid by telephone or who are absentee bidders will be invoiced within 5 days after the close of the auction and must pay the full purchase price for each purchased lot within 14 days after the date of the auction. By signing the absentee bid form or placing an absentee bid by telephone, an absentee bidder authorizes Cowan's to charge the purchase price (hammer price, plus buyer's premium) for each lot for which such bidder is the successful bidder to the credit card number provided by telephone or on the absentee bid form, unless payment in full or alternative payment instruction is received within 14 days after the date of the auction. No property will be released by Cowan's unless the purchase price has been paid in full.
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AFTER THE AUCTION
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Upon the fall of the hammer, title to the offered lot shall pass to the buyer and the buyer immediately assumes full risk and responsibility for the lot, including liability for loss or damage.
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The purchase price for each lot shall equal the hammer price, buyer's premium, sales tax and, if applicable, all packing, handling, insurance and shipping costs. Payment may be made with cash, personal or traveler's check, Visa or MasterCard.
Buyers who are present at the auction must pay the full purchase price at the time of the sale. Buyers who bid by telephone or who are absentee bidders will be invoiced within 5 days after the close of the auction and must pay the full purchase price for each purchased lot within 14 days after the date of the auction. By signing the absentee bid form or placing an absentee bid by telephone, an absentee bidder authorizes Cowan's to charge the purchase price (hammer price, plus buyer's premium) for each lot for which such bidder is the successful bidder to the credit card number provided by telephone or on the absentee bid form, unless payment in full or alternative payment instruction is received within 14 days after the date of the auction. No property will be released by Cowan's unless the purchase price has been paid in full.
Institutional billing may be available, and should be arranged prior to the auction.
14) SALES TAX
Buyers are required to pay any applicable state and local sales tax.
15) SHIPPING
Cowan's is happy to provide a shipping estimate in advance of the auction. We have partnered with an outside shipper - Wrap-It Postal. Their services to our respected customers are based inside the Cowans facility.Please contact Wrap-It Postal by email at shipping@cowans.com, or call 513.871.1670 (ext.19). You can also submit a request for an online quote . All shipping and packing costs will be charged separately by Wrap-It Postal to your credit card on file.
Cowan's is in no way responsible for the acts or omissions of independent handlers, packers or shippers of purchased items or for any loss, damage or delay from the packing or shipping of any property.
ADVICE TO INTERNATIONAL BUYERS: Cowan's will not ship any package containing a firearm to any location other than within the United States. Buyers outside the United States must make their own shipping arrangements taking full risk for the transportation of any firearm.
16) SHIPPING CHARGES
Buyers are required to pay for all packing, shipping and insurance charges. Overseas duty charges are the responsibility of the successful bidder. Be aware that for larger and/or valuable items, shipping charges can be substantial.
17) REMOVAL AND STORAGE OF PROPERTY
If purchased property has not been removed, or Cowan's has not received shipping instructions within 21 days after the auction date, a $10 per item per day storage fee may be charged to the buyer.
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If purchased property remains in the custody of Cowan's for a period of 60 days following the auction, Cowan's may, at its option, cancel the sale, retaining as liquidated damages any payments made by the buyer, or resell the property at auction or by any other commercially reasonable means, and in such event, buyer shall be liable for the payment of all of Cowan's costs, including but not limited to storage and costs of sale.