Description

1870, 18 coupons of 4 dollars of the first mortgage bond of 100 dollars, Western North Carolina RailRoad Company, issued by National Bank Note Co..

➢One of the two major extensions of the North Carolina Railways; Atlantic and North Carolina Railways from Goldsboro to Beaufort and Western North-Carolina Railroad from Salisbury to Morganton. The construction was stopped during the civil war, and in 1866 the state subscribed to the project to see it completed. In the same year, George W. Swepson and Gen. Milton S Littlefield took control of the railroad in Western North-Carolina by purchasing 2,000 bonds out of 3,080 issued and became involved in the «Littlefield» scandal, which issued fraudulent actions and created large debts. The state bought the railroad from Western North-Carolina for the amount of 665,000$ in 1870 but lost the financial support and leased the line to other companies. In 1894, the railway was reorganized as: Southern Railway Company!

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