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Lot 1543: ATLANTIC AND WESTERN RAILROAD CO.
29 October 2016
Brussels, BelgiumLive Auction
Description: 1 March 1894 FLORIDA. 2994 Shares of $100. green, black. No 16. Vignette of a passenger train. Issued to, and signed three times (as President, on the stub and on the back) by, Henry Morrison Flagler (1830-1913). He was a tycoon, real estate promoter, railroad developer and partner of Rockefeller in Standard Oil. Heled the development of the east (Atlantic) coast of Florida, and founded the Florida East Coast Railway. To a great extent he was responsible for the creation of today's Miami and Palm Beach. In 1867 Rockefeller had built an oil-refinery in Cleveland (then the centre of the new US oil industry), but needed investment. Flagler was able to borrow $100,000 from family sources, and invested it, on condition that he was made partner. That refinery grew into the Standard Oil Corporation, with Flagler as 1 of the top 3 men, and by 1872 led the US refining business. In 1876 Flagler moved to St. Augustine FL, on account of his wife's health, and gave up day-to-day management in Standard Oil. He found St. Augustine charming, with great potential to attractvisitors, but lacking good hotels and transport. He proceeded to build fine new hotels there, and further south at Daytona, and improved the railways in the area. He then embarked on the great adventure of building the Florida East Coast Railway, rightdown to Biscayne Bay (later, Miami), and then extending it to Key West. He died in 1913 after a fall, having transformed Florida almost single-handed. The Atlantic & Western RR Co. (of Florida) was founded in 1888. The line, built earlier by the Blue Spring, Orange City and Atlantic RR, went from Blue Spring on the St. Johns River via Orange City to New Smyrna Beach. It was bought by the illustrious, Flagler-owned, Florida East Coast Railway Co. in 1894/5 and this share is part of this take-over. The line was in use until 1930. Rarity 10.
Condition Report: VF-EF