American Submarine Company Stock, 1870 [130628]
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Description
# 63 for 100 shares to Arthur Gilman on February 17, 1870. Signed by vice president William Bailey and secretary Henry Waterman. 25c Certificate revenue stamp attached. Transferred to Francis Gilman on reverse in May of 1870. 5c blue Washington stamp attached. vignettes of an old sailing ship and two women flanking a coat of arms with an eagle, train, etc. Ferd. Mayor printer. A group of Northern speculators formed the American Submarine Company to take advantage of a vote in the U.S. Congress to approve the use of privateers. However, when President Abraham Lincoln declined to accept the authority, construction of this consortium's submarine, the Intelligent Whale, languished. The boat was not completed until 1866, long after the war ended. It was eventually used to search for sunken treasure off the coast of Venezuela. Several efforts to sell it to the U.S. Navy which held formal acceptance trials in 1872. The Intelligent Whale failed. [George Labarre & matchndmedicine.com]Date: 1870Country (if not USA): State: New YorkCity: Provenance:
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American Submarine Company Stock, 1870 [130628]
Estimate $200 - $300
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