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Chesapeake Steamship Co. of Baltimore City - Shipping Stock Certificate

Inv# SS1165   Stock
Chesapeake Steamship Co. of Baltimore City - Shipping Stock Certificate
State(s): Maryland
Years: 1917

Stock printed by Wm Mann Co. Philadelphia. Baltimore, Maryland. Nice! Rare!

The outbreak of the Civil War in April 1861 immediately affected the Baltimore Steam Packet Company. On April 19, two days after Virginia's secession, a violently pro-Southern mob in Baltimore attacked Union soldiers en route to Washington, D.C. as the troops marched through the city's streets between railroad stations. Thereafter known as the Baltimore riot of 1861, the resulting loss of life and local unrest also threatened the USS Allegheny, a U.S. Navy ship in Baltimore at the time. Later that same day, the Baltimore Steam Packet Company declined to transport Union forces from Baltimore to the beleaguered Union naval yard facility at Portsmouth, Virginia.

Two weeks later, on May 7, the US Navy chartered Adelaide and attached her to the Atlantic Blockading Squadron. In that role, she was used to transport Federal troops in support of operations in North Carolina's Outer Banks, directed against the Confederate-held forts guarding Hatteras Inlet. Later that year, Adelaide was returned to the Baltimore Steam Packet Company.

As a steamship line connecting northern cities and the south, the Old Bay Line hauled a considerable volume of freight between the two regions and their ships' cargo holds were filled with bales of cotton, produce, and other goods. When hostilities commenced, Southern ports were blockaded by the Federal Navy and the Old Bay Line was unable to serve Norfolk for the duration of the war, going no further south than Old Point Comfort. Passenger traffic as well as cargo shipping declined significantly. The Powhatan Line discontinued operations altogether between Norfolk and Richmond until the war's end.

As soon as the war ended in 1865, the Leary Line of New York briefly challenged the Baltimore Steam Packet Company on the Chesapeake, starting its own Baltimore-Norfolk steamship service. A fare war ensued, with one-way prices reduced to $3.00 (equivalent to $25.8 in 2021). Emphasizing the longevity of its service compared to their upstart rival, the Baltimore Steam Packet Company began referring to itself as the "Old Established Bay Line" in advertising, a moniker that would soon become simply the Old Bay Line for the next century.

The Leary Line withdrew in January 1867, selling its George Leary to the Old Bay Line. Two years later, the Norfolk Journal of August 2, 1869, described the vessel as having a "gorgeous style of furniture and elegant fittings ... magnificently furnished with upholstered sofas and lounges of rich red velvet ...". Another competitor, the Chesapeake Steamship Company, began directly competing on the Baltimore-Norfolk route in 1874. Controlled by the Southern Railway, a rival of the RF&P, it would be a formidable competitor until 1941, when the two steamship lines merged. Cargo traffic was also booming in the 1870s as the South recovered from the Civil War, resulting in the Old Bay Line's freight revenue surpassing passenger revenue by the end of the decade.

By the time of John Moncure Robinson's retirement as president of the company in 1893, the Old Bay Line had upgraded its fleet with propeller-driven, steel-hulled steamers equipped with modern conveniences such as electric lighting and staterooms with private baths. Georgia introduced in 1887 was the first Old Bay Line boat to have a modern screw propeller instead of old-fashioned side paddlewheels and Alabama launched in 1893 was the company's first steel-hulled vessel. Robinson served the Old Bay Line as president for 26 years (1867–1893), longer than any other person in the company's history.

The halcyon days of the 1890s were the company's heyday, under president Richard Curzon Hoffman (the grandfather of noted author Walter Lord), when the prosperous line's gleaming steamships were heavily patronized by passengers enjoying the well-appointed staterooms and Chesapeake Bay culinary delights while dining to the accompaniment of live music. The nightly menu on board included oyster fritters, diamondback terrapin, duck, and turkey.

The company built a new terminal and headquarters in Baltimore on Light Street in 1898 to accommodate the increasing traffic. Rebuilt after the Great Baltimore Fire of 1904, the building with its four-sided clocktower would be a landmark for decades on Baltimore's Inner Harbor waterfront. (The location of the now-demolished terminal is between the present Harborplace and Maryland Science Center.)

The Richmond, Fredericksburg and Potomac Railroad, which had first acquired a controlling interest in the Baltimore Steam Packet Company in 1851, gained total control of the company's stock on September 5, 1901. The Old Bay Line continued to be managed separately from the RF&P, however.

The "Old Bay Line," as the Baltimore Steam Packet Company was commonly known, operated steamships between Norfolk, Virginia, and Baltimore, Maryland, carrying mail and freight as well as passengers and vehicles on the overnight run.

The Seaboard and Roanoke acquired a controlling interest in the steamship company in 1851, providing valuable northward connections from the docks at Norfolk for the railroad's passenger and freight business. Control passed to the Richmond, Fredericksburg and Potomac Railroad in 1901, but in 1922, with S. Davies Warfield as its president, the Old Bay Line became a wholly owned subsidiary of the SAL. In that same year, Warfield was named president of the Seaboard as well.

In 1941, the Chesapeake Steamship Company, jointly owned by the Atlantic Coast Line and the Southern, was merged into the Old Bay Line. Due to the decline of business with the rise of interstate highways and air travel, the steamship company was liquidated in 1962.

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Condition: Excellent

A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.

Item ordered may not be exact piece shown. All original and authentic.
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