£48
U.S.A.: Memphis, Selma and Brunswick Railroad Company, 1st Mortgage Bond, 1882, $1000, #925, steam train at top, black, with coupons. Chartered in 1881 as a merger of the Memphis, Holly Springs & Selma Railroad Company and the Selma, Marion & Memphis Railroad, both of which had yet to lay any track! Completed from Memphis to Holly Springs, MS, a distance of 43 miles, by 1885. Sold to the Memphis, Birmingham & Atlantic Railroad in 1885. VF.
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