Stock certificates, 1824-1837.

ArchivalResource

Alabama. Bank of the State of Alabama. Stock certificates, 1824-1837.

Stock certificates, 1824-1837.

http://www.worldcat.org/oclc/80147640

On 1823 Dec. 20 an act was passed by the General Assembly of Ala. establishing the Bank of the State of Ala. Section 8 of this act stated "that his Excellency the Governor, and five commissioners to be appointed by a joint vote of both Houses of the General Assembly, shall be authorized to issue state stock redeemable after a term of years, not exceeding ten years, or at the pleasure of the State, to an amount not exceeding one hundred thousand dollars, bearing an interest not exceeding six percent per annum...". This series consists of five and six percent stock certificates on a loan of 100,000 dollars. There are twenty-one certificates for 1824 in this series, and each one is numbered. The 1835-1837 certificates are not numbered. Included on each 1824 stock certificate are the words "Alabama State Loan of One Hundred Thousand Dollars"; the certificate number; the date the stock was issued from the State Treasury at Cahawba; the name of the stockholder, which is "Prime, Ward, and Sands of New York" for all of the twenty-one stocks; the amount of the stock; the date the six percent interest rate went into effect; and the place where the interest was to be paid, which was "The Phenix Bank in the City of New York." The principle of the stock was to be reimbursed by the State of Ala. to the Bank of the State of Ala. after the stock's ten year expiration date.

0.2 cubic ft. (2 folders, 1 oversized).

Alabama Department of Archives and History