Creator
Northern Pacific Railroad Company
Title
The Charter and Amendments: The General Mortgage on Railroad and Land Grant and Copy of First Mortgage Bond
Coverage
Philadelphia
Publisher
Jay Cooke & Co
Date
1864
Description
This is one of the first mortgages on the Northern Pacific Railroad’s land that was backed by Jay Cooke & Co. The line was the first transcontinental route to be built by one company, and the cost proved to be nearly ruinous. The railroad, under Jay Cooke’s guidance, mortgaged its land to pay for its construction. This would lead to the railroad’s, the finance company’s, and Cooke’s personal downfall during the Panic of 1873.