DANVILLE BESSEMER CO Stock 1903 Danville, PA Became Algoma Steel Sault Ste Marie

Beschrijving

Danville Bessemer
Company. Stock issued November 17, 1903. Incorporated in 1899 in the
State of New Jersey.
Embossed company seal lower left. Certificate
No. A4347
was issued to Marie Racine Martinez Cardeza for 100 shares
of capital stock ($5 per share). Company capital was
$1,200,000
. Hand
signed by company
president John J. MacDonald
and
treasurer Horatio
N. Day
. Certificate is about 8” x 11.5.” Black print with
dark-brown borders and underprint. Vignette with eagle on crest.
The Danville Bessemer
Company was formed in 1899 to manufacture primarily steel rails for
railroad tracks in a mill in Danville, Pennsylvania. In September of
1900, the Danville Bessemer plant came under new ownership, from the
Lake Superior Iron and Steel Company of Sault Ste. Marie, Ontario.
This was one of the companies, along with Algoma Commercial Company,
Algoma Iron Works, Algoma Steel Company, and Lake Superior Power
Company, that would ultimately combine to become the Algoma Steel
Corporation. In 1900 under new ownership, the Danville Bessemer mill
in Danville was dismantled, with machinery was relocated to Sault
Ste. Marie. The Danville Bessemer Company officially dissolved in
1903, amidst a scandal involving illegal profits: the plaintiffs
accused Danville Bessemer representatives of profiting hundreds of
thousands of dollars at the expense of the stockholders.
Condition:  Very Fine++
, two very light vertical folds, minor creasing, no tears, light signs of wear/handling/toning (see photos),
uncancelled.
Printer:
E. A. Wright, Philadelphia.
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