Old Certificates Are Interesting Documents

Scripophily is the study and collection of stock and bond certificates.  Old certificates may be valued for their historical significance or aesthetic value. 

V.B. McGaha purchased 2 shares of  Transylvania Turnpike stock
on August 10, 1898/

The certificates referred to in this article were issued from 1898-1968 by local companies to raise money for their business ventures.  They contain a variety of information including the company name and seal, the value, and signatures of the company president and secretary or treasurer. Completed certificates also have the date and the name of the shareholders.

The Local History Room at the Library has three books containing stocks from Gloucester Lumber Company and one Transylvania Tanning Company stock book.  Gloucester Lumber and Transylvania Tanning were both owned by Joseph Silversteen.

J. M. Zachary's
1909 French Broad Flume & Lumber Company stock certificate.

The collection also contains individual certificates for Brevard Community Hatchery, Brevard Country Club, French Broad Flume & Lumber Company, Plummer-Cobble Company, Rainbow Lake, Rosman Improvement Company, Rosman Knitting Mills, Transylvania Publishing Company, Transylvania Tribune and Transylvania Turnpike Company.

The appearance of the certificates varies.  The oldest certificate, from the Transylvania Turnpike Company, is black ink on cream paper with a wide detailed border but little other ornamentation.  The others use black, green or orange ink and include decorative borders, as well as some type of illustration.  The illustrations include the official North Carolina State seal, various eagles, an industrial image and a woman with a star on her forehead.

Carolina, Knoxville & Western Railway Company coupon for $15.00,
redeemable in April 1894.

Coupons were attached to some bond certificates.  The bond owner detached the coupon for payment when the interest became due.  A partial set of Carolina, Knoxville & Western Railway Company redemption coupons dating from 1891-1894 was recently donated to the Local History Room collection. 

The Carolina, Knoxville & Western Railway was part of a rail line intended to link Augusta, Georgia to Knoxville, Tennessee.  The route would have run through Transylvania County.  Right of ways were purchased and some clearing and grading completed, although no track was ever laid locally.

The South Carolina section of track would continue to be used for many years by other rail companies.  Today the Swamp Rabbit Trail follows the former Carolina, Knoxville & Western Railway bed from Travelers Rest to Greenville.

Photographs and information for this column are provided by the Rowell Bosse North Carolina Room, Transylvania County Library.  Visit the NC Room during regular library hours (Monday-Friday) to learn more about our history and see additional photographs.  For more information, comments or suggestions contact Marcy at marcy.thompson@transylvaniacounty.org or 828-884-3151 X242.