Raynors HCA 2018-06
This lot is closed for bidding. Bidding ended on 6/21/2018
Stock Certificate, 10” x 6-12”, “Georgia Rail Road & Banking Company, May 13, 1857, Auguata, signed the president, issued for five shares to James Bowen. VG. During the American Civil War, the Confederate States of America maintained a gunpowder factory in Augusta. Carloads of gunpowder would be transported on the Georgia Railroad to various battlefields in the "Western Campaign." Although the Civil War saw heavy damage to railroads such as the Georgia Railroad, management used their considerable resources to restore operation as quickly as possible. The Georgia Railroad even resorted to temporarily abandoning the Athens branch to secure enough rail to reopen its main line. Returning Confederate soldiers were given free rides home, to the extent that the company's limited rail network would allow. They also honored all Confederate scrip issued by their bank. No depositor lost their savings even if Confederate money had no value. It helped that the Georgia Railroad and Banking Company had the financial strength to honor those promises. At that time, most Southern banks were repudiating any obligations related to Confederate currency. This helped to solidify the bank's reputation as one of the premier banks in the southeastern United States, well into the 20th century.
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