PHILADELPHIA. 1 Share. black. No 712. Slight edge-damage at the left border and, more importantly, the share was cut in two, but taped together again. The company was originally founded in 1793 by the famous American financers Robert Morris and John Nicholson. The aim was to acquire land (up to 1,000,000 acres) in Pennsylvania's Luzerne, Northumberland and Northampton counties and to then rent it to new settlers, in particular aristocratic refugees of the French Revolution trying to escape the guillotine. A town of that name was soon established and several Frenchmen found a new home. However, when Robespierre came to power, many exiles were pardoned and the emigrants returned to their home country. This was not good news for the Asylum Co. By 1798, they were bankrupt. After legal wrangling, the company was re-established by William Cramond (a creditor of Morris and Nicholson) in an attempt to reorganize the real estate project. The share we offer is issued to James Gibson, secretary of the company. He also signed the share, together with the president, Archibald McCall. Interesting share, as an early example of the many historic links between the American and European Continent.
Themes: BEFORE 1800, CITY & STATE BONDS
Date: 7 April 1802
Startprice: € 500