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UNITED STATES OF AMERICA
$1000 Pacific Rail Road Bond$1000
CITY & COUNTY OF SAN FRANCISCO.
No 93 PAYABLE MAY FIRST A.D. 1895
The City & County of San Francisco in the State of California will pay to the Western Pacific Rail Road Company or to the holder hereof ONE THOUSAND DOLLs thirty years from the date hereof with interest thereon at the rate of SEVEN percent per Annum pay-able semi-annually on the First days of May and November of each year upon interest Cou-pons hereto attached, both principal and interest payable at the City and County of San Francisco in United States Gold Coin Dollar for Dollar. This Bond is transferable by delivery and binds the City and County of San Francisco to the payment of the principal and interest as herein expressed. This Bond is issued under and in pursuance of an Act of the Legislature of the State of California en-titled "An Act to Authorize the Board of Supervisors of the City and County of San Francisco to take and subscribe One Million Dollars to the Capital Stock of the Western Pacific Rail Road Company and the Central Pacific Rail Road Company of California and to provide for the payment of the same and other matters relating thereto" Approved April 22nd AD 1863, and the vote of the people of the City and County of San Francisco in favor of said subscription at an election held in pursuance of the provisions of said Act. The principal and interest named in this Bond are secured and payable out of the Special Funds created therefor by said Act and known as the "Pacific Rail Road Interest Tax" and the "Pacific Rail Road Loan Fund."
The Laws and Ordinance by virtue whereof this Bond is issued, are indorsed hereon by relating their titles, and made a part hereof.
In Testimony Whereof, and in accordance with the Act afore-said and also the order of the said Board of Supervisors, The President of the Board of Supervisors, and the Auditor and Treasurer of the City and County of San Francisco, and Ex officio "Pacific Rail Road Loan Commissioners" have signed their names to the Bond, the County Clerk of the City & County aforesaid has countersigned the same, and the Board of Supervisors have caused the seal of the said City & County to be affixed hereto, this First day of May, A.D., One thou-sand Eight hundred and Sixty five.
H. P. Coon [L.S.] Pres t Board of Supervisors
[CCSF]
[SEAL] H.M. Hale [L.S.]
City & County Auditor
Wm Loewy [L.S.]Jos. S. Paxson [L.S.]
[2 US R62c Cancelled] County Clerk City & County Treasurer
["CCSF Jun 24, 1864"]
STATE OF CALIFORNIA
________________________
NOTE: This Bond is one of just 200 which were issued to the Western Pacific Rail Road Company and of 400 to the Central Pacific Rail Road Company of California in 1865 under the Act of the California Legislature passed on April 22, 1863 (as amended by Section Five of the "Compromise Act" of April 4, 1864), and approved by the electors of the City and County of San Francisco by a vote of 6,329 to 3,116 at a highly controversial (and subsequently litigated) Special Election held on Tuesday, May 19, 1863. The issuance of the Bonds – which became known as the "Dutch Flat Swindle" – was delayed for two years because the Mayor of San Francisco, Henry P. Coon, and then the County Clerk, Wilhelm Loewy, each refused to countersign the Bonds until ordered to do so by the Supreme Court of the State of California which granted Writs of Mandamus against Coon in 1864 (25 Cal. 635) and Loewy in 1865 (27 Cal. 655) directing that the Bonds be count-ersigned and delivered. All sixty of the interest coupons are attached to Bond #93 of which the first thirty-five had each been individually redeemed for semi-annual interest payments of $35.00. Coupon #1 was redeemed and cancelled on November 2, 1865, and coupon #35 on November 2, 1882, at which time the principal of $1,000.00 in gold coin was also paid from the Treasury of the City and County of San Francisco and the Bond was cancelled.
Notes about legislation and litigation relating to the above bond:
C.P.R.R. - vs -C.C.S.F.
Pacific RRBond Case(1864-65)
1863 Act of the California Legislature and the 1864 and 1865 State Supreme Court cases relating to the Pacific Rail Road Bonds issued by San Francisco in 1865: "An Act to Authorize the Board of Supervisors of the City and County of San Francisco to take and subscribe One Million Dollars to the Capital Stock of the Western Pacific Rail Road Company and the Central Pacific Rail Road Company of California and to provide for the payment of the same and other matters relating thereto, Approved April 22nd AD 1863."
1864 and 1865 State Supreme Court cases relating to Central Pacific Railroad v. Board of Supervisors of the City and County of San Francisco. (The 1865 case may be listed as being against the County Clerk.)
San Francisco issued Pacific Rail Road Bond: pages 354 to 359 from The Big Four by Oscar Lewis (1941) relate directly to this material.
"An Act to Authorize the Board of Supervisors of the City and County of San Francisco to take and subscribe One Million Dollars to the Capital Stock of the Western Pacific Rail Road Company and the Central Pacific Rail Road Company of California and to provide for the payment of the same and other matters relating thereto" Approved April 22nd AD 1863"........................................................... 6 pagesThe Central Pacific Railroad Company of California vs. Board of Supervisors of the City and County of San Francisco, Supreme Court of California (2 cases - 1864 & 1865).................. 286 page
The People ex rel The Central Pacific
Railroad Company of California vs.The Board of Supervisors of the
City and County of San Francisco, and Wilhelm Lowey, Clerk (27
Cal 655). (These are marked by hand on the first page of most of the filings
with what appears to be the court clerk’s file number -- "579".) There
are also two filings (marked "338") which were clipped together separately
from the other copies and total 17 pages. These are the Complaint (filed
May 20, 1864) and Answer (filed June 18, 1864) in Central Pacific
vs Board of Supervisors.
Act of April 22, 1863, six pages.
People vs Coon et al (25 Cal 635) case of 1864 (reported at 25 Cal. 635), captioned: The People of the State of California on the relation of the Central Pacific Railroad Company vs. Henry P. Coon, Mayor; Henry M. Hale, Auditor; and Joseph S. Paxson, Treasurer, of the City and County of San Francisco. Its California Supreme Court case number is "391".
"Compromise Act" and approved on April 4, 1864. It is an act in one section with five subdivisions which: 1) empower the San Francisco Board of Supervisors to in-crease the pay of the Fund Commissioners’ Clerk; 2) to increase the pay of the Assessors’ Clerk; 3) to compromise a certain claim to an engine house lot; 4) to transfer a hospital building to the Board of Education, and; 5) to compromise and settle the claims of the Western Pacific Railroad and the Central Pacific Railroad made against the City and County of San Francisco under the Act of April 22, 1863.
"San Francisco Compromise Act", Approved April 4, 1864
.............................................. 1 pageThe People of the State of California on the relation of the Central Pacific Railroad Company vs. Henry P. Coon, Mayor; Henry M. Hale, Auditor; and Joseph S. Paxson, Treasurer, of the City and County of San Francisco, The Caifornia Supreme Court Docket #391 (1864) .............................................................. 128 pages
CPRR PETITION, 5/26/1864 (338)
CCSF ANSWER, 6/6/1864 (338)
APPLICATION FOR WRIT, 12/16/1864 (579)
CCSF ANSWER, 12/27/1864 (579)
STANFORD AFFIDAVIT, 1/9/1865 (579)
CCSF ANSWER
Courtesy Bruce C. Cooper Collection and the California State Archives.
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