Skip to main content

Anna Howe Gold Mining Co. - $25 First Mortgage Bond - Birmingham, Alabama

Inv# MB5101   Bond
Anna Howe Gold Mining Co. - $25 First Mortgage Bond - Birmingham, Alabama
State(s): Alabama
Years: 1889

$25 8% Bond with all but 1 coupon remaining. Rare!

Birmingham was founded on June 1, 1871, by the Elyton Land Company whose investors included cotton planters, bankers and railroad entrepreneurs. It sold lots near the planned crossing of the Alabama & Chattanooga and South & North Alabama railroads including land formerly a part of the Benjamin P. Worthington Plantation. The first business at that crossroads was the trading post and country store operated by Marre & Allen. The site of the railroad crossing was notable for the nearby deposits of iron ore, coal, and limestone – the three main raw materials used in making steel.

Birmingham is the only place worldwide where significant amounts of all three minerals can be found in close proximity. From the start the new city was planned as a great center of industry. The founders, organized as the Elyton Land Company, borrowed the name of Birmingham, one of England's main industrial cities, to advertise that point. The growth of the planned city was impeded by an outbreak of cholera and a Wall Street crash in 1873. However, it began to develop shortly afterward at an explosive rate.

The town of Elyton, Alabama, and several other surrounding towns were absorbed into Birmingham in 1911. The start of the 20th century brought the substantial growth that gave Birmingham the nickname "The Magic City", as the downtown area developed from a low-rise commercial and residential district into a busy grid of neoclassical mid-rise and high-rise buildings and busy streetcar lines. Between 1902 and 1912 four large office buildings were constructed at the intersection of 20th Street, the central north–south spine of the city, and 1st Avenue North, which connected the warehouses and industrial facilities stretching along the east–west railroad corridor. This impressive group of early skyscrapers was nicknamed "The Heaviest Corner on Earth".

Birmingham was hit by the 1916 Irondale earthquake (magnitude 5.1). A few buildings in the area were slightly damaged. The earthquake was felt as far as Atlanta and neighboring states.

While excluded from the best-paying industrial jobs, blacks joined the migration of residents from rural areas to the city for its opportunities. The Great Depression of the 1930s hit Birmingham especially hard as sources of capital that were fueling the city's growth rapidly dried up at the same time that farm laborers, driven off the land, made their way to the city in search of work. New Deal programs put many city residents to work in WPA and CCC programs, making important contributions to the city's infrastructure and artistic legacy, including such key improvements as Vulcan's tower and Oak Mountain State Park.

The wartime demand for steel and the post-war building boom gave Birmingham a rapid return to prosperity. Manufacturing diversified beyond the production of raw materials. Major civic institutions such as schools, parks and museums, were able to expand their scope.

Despite the growing population and wealth of the city, its residents were markedly underrepresented in the state legislature. Although the state constitution required redistricting in accordance with changes in the decennial census, the state legislature did not undertake this until the early 1970s, when forced by a federal court case to enforce "one man, one vote". In addition, the geographic basis of the senate, which gave each county one seat, gave undue influence to rural counties. Representatives of rural counties also had disproportionate power in the state house, and failed to provide support for infrastructure and other improvements in developing urban population centers such as Birmingham. At this time, the General Assembly ran county governments as extensions of the state through their legislative delegations.

Read More

Read Less

Condition: Good

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $270.00