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Lot 1458: WEST INDIA IMPROVEMENT CO.
29 October 2016
Brussels, BelgiumLive Auction
Description: 1 September 1889 4% First Mortgage Bond of $1000. green, black. No 841. Founded 1889 as an American Syndicate to purchase the Jamaica Railway Co. for £100,000 cash and a £700,000 4% second mortgage. The company than issued these bonds to complete the extensions of the Montego Bay and Port Antonio. In 1898, the Jamaican government retook control of the Railway because the West India Improvement Co. had insufficient cash flow to cover all interest payments on its mortgage.
Condition Report: VF-EF