Related Items
Overstamped Scrip
In 1879 J. C. Stanton's ran for mayor of Chattanooga,
despite the hardship his AL and Chattanooga RR bankruptcy created for
the citizen of the city. The reverse of one $0.25 AL & Chattanooga scrip
note was stamped "Stanton's chickens come home to roost. Temple
pays money.". This, then worthless, note was probably over stamped
and issued by H. F. Temple's supporters during the election campaign. It
probably assisted in Temple's successful election.
$0.25 AL & Chattanooga scrip overstamped for mayor campaign.
B. M. B. Heard of the firm of X. L. Burner Lamp that carried Crockery, Glassware and c. of Chattanooga over stampled
the AL & Chattanooga 20 and 25 cent initial scrip.
Courtesy Chattanooga-Hamilton County Bicentennial Library Chattanooga Scrip, Acc ??
Promissory Notes
By the end of 1870, Stanton could not get any more money out of the Alabama
legislature and the interest on the first bonds was due in January. The
line was still not completed and construction expenses continued while
the partial completed line failed to generate significant income. Despite
reassurances and promises, he had no money to meet the need. So the bonds
defaulted. Construction of the railroad line continued by using the scrip
and Promissory Notes used to pay for supplies. An example of a promissory
note is displayed.
Alabama & Chattanooga Railroad Promissory Note March 7, 1871
Back of Alabama & Chattanooga Railroad Promissory Note
Alabama & Chattanooga Railroad check 1875
Compliments of Chris Jones
Bonds
According to Terry Cox's 2003 2nd edition of his Collectible Stocks
and Bonds from North American Railroad Guide with Prices, the 1869
coupon bonds were issued in $1,000 green and $500 brown, both at 8%, and
then another 1869 issue for 20 years appeared in $1,000 brown and for
15 years in $500 brown, both at 8%. There were also capital stock certificates
issued with known dates 1871 and 1906, the latter an enigma. The Alabama
state bonds in aid of AL & Chattanooga RR were $1,000 1870 30-year 8%
green unlisted by Criswell. All of these items are worth a good third
or more of their face value as collectibles . -- Russel Rulau
Railroad pass
The front and back of a AL & Chattanooga complmentary railroad pass is shown.
Railroad ticket
The front and back of a AL & Chattanooga railroad ticket is shown
twice normal size to allow reading it.
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