Mortgage. The Montour Iron and Steel Company to the Fidelity Trust and Safe Deposit Company. ... To secure an issue of $500,000 Bonds of the Company. [cover title]

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Published in pamphlet form, an unrecorded printed mortgage indenture between the Montour Iron and Steel Company of Danville, Montour County, Pennsylvania and the Fidelity Trust and Safe Deposit Company of Philadelphia. The Montour Iron and Steel Company financed its $500,000 loan by the selling of 500 bonds redeemable in 1922 for $1000 “in gold coin of the United States of America.”

The Montour Iron and Steel Company traces its roots to 1838 when Thomas Chambers built special iron furnaces adapted to the use of anthracite coal as fuel. “[O]n October 8, 1845…the first iron T-rail in America was rolled at the stupendous Montour Iron Company. Hundreds of spectators visited the mill daily to watch the rails coming off the rolls. An example of the T-rail won the highest honor, the first premium, at the Manufacturing Exhibition at the Franklin Institute in Philadelphia in December of that year.” In 1880, the steel mill was sold to the Montour Iron and Steel Company which continued in business until 1895 when it was purchased by the Reading Iron Company.

Price: $100.00