The Colorado Powder Company (Explosives) Stock Certificates (104353)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:75.00 USD Estimated At:150.00 - 200.00 USD
The Colorado Powder Company (Explosives) Stock Certificates   (104353)
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Lot of two stocks issued in 1882, both pen cancelled, one punch cancelled. Signed by secretary JO Bosworth and president Henry Wolcott. Black border and print, CO state seal vignette surrounded by Nature and mining scenes. Printed by Britton & Rey. 5 x 9" This company had a patent that they could produce powder for 9c cheaper than what was being charged for powder from the east. The mill was completed in 1884 and they started to sell powder for 28c a pound. The powder back east was immediately dropped to 20c a pound. Superintendent Bosworth told a committee that the railroads were giving East Coast powder a rebate to ship to Colorado by train. Wolcott went back east to investigate and found that the east coast monopoly and the railroads were too powerful. The mill ran for six months, but since they were up against the powerful DuPont family, they realized they could not win. So they closed the mill. Ken Prag Collection

Date: 1882
State/Country: Colorado
City/County: Denver