| Record Group: | Morris Canal and Banking Company |
| Series: | 1890 Bond Transfer Book, 1897 |
| Accession #: | 1979.005 |
| Series #: | PMORS024 |
| Guide Date: | 3/1992 (JK) |
| Volume: | 0.1 c.f. [1 vol.] |
Institutional History
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In 1876, the Morris Canal & Banking Company mortgaged the canal to the Provident Life and Trust Company of Philadelphia for the amount of $1,000,000. On 7 April 1890, the Board resolved to reduce the mortgage to $500,000; however, there was no provision in the mortgage for partial satisfaction. Therefore, the officers of the company were authorized to execute additional bonds amount to $500,000 to finance payment of the remainder of the mortgage. This volume contains one certificate, dated 14 July 1897, transferring $500,000 of the 6% registered bonds of 15 September 1890 to Girard Life Insurance Annuity & Trust Company of Philadelphia, as trustee under the mortgage of the Railroad Company dated 1 May 1897. |
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September 2003 |
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Relative to research and mail reference services - archives.reference@sos.state.nj.us Relative to records transfers and donations - archives.collections@sos.state.nj.us |
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