C095_K.03 | Grand Trunk Railway Company of Canada, £500 stock, 1863
Grand Trunk Railway Company of Canada, £500 stock, 1863
Waterlow & Sons
1863, 19th century
Ink on paper
13.5 x 20.8 cm
Gift of Mr. Seymour Schulich
© McCord Museum
Keywords: Certificate (5)
Keys to History
This stock certificate issued by the Grand Trunk Railway Company of Canada and set at a value of £500 (somewhat more than a Canadian dollar), was purchased by Lieutenant Colonel John Edward Mitchell on January 18, 1863. An adjustment made on August 27, 1883 has been scribbled in above the shareholder's name. It appears to give the name of the new owner of the share, who has now replaced the previous buyer.
The Grand Trunk Railway was official created in 1852. The company's objective was to build a line that would stretch across the entire Province of Canada, and its prime mandate was to provide a link between Montreal and Toronto. The company's projects were financed largely by British capital.
After 1860, the company faced a financial crisis so severe that, in 1862, the government together with the investors had to step in and take financial measures that would enable the company to avoid collapse.