R44c on 1870 American Submarine Co. Stock Certificate
Beautifully engraved issued Certificate from The American Submarine Company printed in the 1860’s. This historic document was printed by the Ferd. Mayor and Sons Company of New York and has an ornate border around it with a vignettes of an old sailing ship and two women flanking a coat of arms with an eagle, train and scale. Thomas F. Wells of the New York Metal and Chemical Manufacturing Company purchased 100 shares @ $10 each February 17, 1870. Signed by William M. Bailey, Vice President.
A group of Northern speculators formed the American Submarine Company to take advantage of a vote in the U.S. Congress to approve the use of privateers. However, when President Abraham Lincoln declined to accept the authority, construction of this consortium’s submarine, the Intelligent Whale, languished. The boat was not completed until 1866, long after the war ended. The then ostensible owner, O.S. Halstead, made several efforts to sell it to the government, and the U.S. Navy finally held formal acceptance trials in 1872. The Intelligent Whale failed. Halstead was not present, having been murdered the year before by his mistress’s ex-lover.