The Manila Railway Company [1906] “A” Debenture Bond for £50, No. A24876 with 60 coupons

Description

large format paper, decorative steel engraving in original blue colour with black steam locomotive vignette, and a read crown mark, coupons attached, devalued with “cancelled” perforation. RARE. Founded in 1888 as an English company to take over a concession that was granted by the Spanish government in 1887 for a distance of 196 km over 99 years. The Spanish government regularly paid the subsidies stipulated in the contract. In 1898, after the naval victory of Admiral G. Dewey over Spain near Manila, the Philippines were ceded to the USA, which did not meet the obligations of the Manila Railway. In 1903 the concession was taken over by the Philippine government. After lengthy but unsuccessful negotiations with the USA, a new railway company was founded in New Jersey, USA in 1906, the Manila Railway Co. (1906), which had taken over the properties and technical equipment from the English company. Their activities ceased 1917.