Alaska Central Railway Co. - 1903 dated Alaskan Railroad Stock Certificate

Stock. Printed by Yerkes Printing Co. 1410 First Ave. Seattle.

The Alaska Central Railway Company, a privately-owned enterprise, commenced construction in 1904, laying tracks northward from the ice-free port of Seward. Its ambitious plan involved constructing an extensive line from Seward, traversing the Matanuska Valley coal fields, and eventually reaching Fairbanks in the Alaskan interior. Initially funded by investors from Seattle, the company faced financial difficulties and the treacherous Alaskan terrain, which hindered its construction efforts. Despite constructing approximately 50 miles of track, the company ultimately went bankrupt in 1907.

Following its initial failure, the company underwent reorganization in 1910, becoming the Alaska Northern Railway. However, it too struggled financially and managed to extend the line an additional 21 miles, reaching a point near modern-day Girdwood. Recognizing the urgent need for a functioning railroad to transport natural resources and serve military interests, the U.S. government intervened. In 1914, Congress approved funding and operation of a railroad connecting Seward to Fairbanks. Ultimately, the government acquired the financially troubled Alaska Northern line. The government-led project successfully completed the 500-mile railroad, which became the foundation of the modern Alaska Railroad.