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Auction: 1007 - Bond & Shares of The World
Lot: 649

Maryland and New York Iron and Coal Company (MD), 6% bond for $480 or £100, 1842, black, with coupons, two of which for 1843 have been paid, good very fine and rare Estimate £ 80 The Company was incorporated in 1837 with a capital of $1,000,000 to establish a plant at Mount Savage, Maryland to manufacture and smelt iron out of local ores. The company was founded by an Englishman and much of the stock was held in England. The United States government was also to become one of the largest stock holders. Also the first company to produce iron rails in America. Operations ceased in 1847.

Sold for
£70