Monday, June 12, 2017

Two-Footers for sale at Spink New York

In The Numismatics Collector's Series sale, Spink will auction more than 800 lots of coins, medals and banknotes. Seventy-six lots from the US, Canada, China and Russia complete the scripophily section.

Lot 829 is a group of railroad bonds including a $500 dollar bond issued in 1901 by the Wiscasset, Waterville & Farmington Railroad. Two $100 dollar denominations from  the same issue and a 1908 $1000 bond from the Sandy River & Rangely Lakes Railroad complete the group. Both lines were nearly neighbours and were built as "Two-Footers".

Wiscasset, Waterville and Farmington Railroad Company bond from 1901
Wiscasset, Waterville and Farmington Railroad Company
5% First Mortgage Gold Bond
$1,000,000 loan, 1901, due 1921
issued in denominations of $1000 $500 and $100

"Two Footers" are narrow-gauge railways which are cheaper to build. They require lighter construction, smaller tunnels and bridges, and use smaller cars and locomotives. Most narrow-gauges were built for industrial railways. The term (track) gauge refers to the distance between both rails. "Two-Footer" tracks were built with rails so close together that a pair of large shoes set "heel-to-toe" could span the distance between the rails. source: Wiscasset, Waterville & Farmington Railway Museum

Auction  details
  • Location : New York
  • Dates : June 19-20, 2017
  • More info : See here 


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