"COMMODORE" CORNELIUS VANDERBILT (1794-1877). Vanderbilt, a steamship and railroad promoter, founded the family fortune which exists yet today. He began his rise at 16 as the owner-operator of a small ferryboat which ran between Staten Island and New York City. In 1829, after some years of running a hotel and various other enterprises, Vanderbilt entered the steamboat business on his own, operating a shipping service on the Hudson. By the early 1850s, he had established numerous shipping lines, with routes to Europe and to San Francisco via a Nicaraguan land route, and was widely considered the leading American steamboat owner. He acquired the title "Commodore" around 1845 as a result of his shipping interests. As he neared 70, Vanderbilt sold his shipping interests and turned his attention to railroads, a move which resulted in the creation of one the nation's great transportation systems. He began, in the early 1860s, by gaining control of the New York and Harlem Railroad, followed shortly after by the run-down Hudson River Railroad. In both cases, Daniel Drew and other stock manipulators tried to make a killing at Vanderbilt's expense by short-selling stock in these companies, then trying to force the stock price down. Vanderbilt outwitted them, however, and many either lost substantial amounts of money or were ruined. In 1867, Vanderbilt acquired the New York Central Railroad and, in 1869, merged it with the Hudson River Railroad, thus forming the New York Central and Hudson River Railroad. In 1868, Vanderbilt attempted to gain control of the Erie Railroad, but was, at last, outwitted by Drew, James Fisk, and Jay Gould, who were in control of the railroad and dumped 50,000 shares of fraudulent stock on the market for the unwitting Vanderbilt to buy up. The trio then escaped to New Jersey to avoid both Vanderbilt's wrath and prosecution for their scheme. Vanderbilt's well-documented battles with Drew and Gould for control of the New York & Harlem, Hudson River and Erie railroads form some of the most colorful and exciting pages in U.S. financial history. In 1873, convinced by his son, William, that they should extend their rail system to Chicago, Vanderbilt bought the Lake Shore and Michigan Southern Railway and, in 1875, the Michigan Central and Canada Southern railroads. During the panic of 1873, Vanderbilt announced that the New York Central was paying its dividends as usual, and he let out contracts for the construction of the Grand Central Terminal. In this way, Vanderbilt used his wealth as stabilizing influence in the U.S. economy during the last years of his life. 1873, New York and Pennsylvania. Certificate for 1,125 shares of one hundred dollars each. Issued to and signed “C Vanderbilt” on the verso. Black on white paper. There are cut cancellations in the officers’ signatures that do not affect Vanderbilt’s dark signature in any way. The Dunkirk, Allegheny Valley and Pittsburgh Railroad traveled between Dunkirk, New York and Oil City and Titusville, Pennsylvania. It was formed by the consolidation of the Dunkirk, Warren and Pittsburgh Railroad with the Warren and Venango Railroad. It was then leased to the New York Central Railroad, which was controlled by Vanderbilt. The piece has light toning along top margin and is in fine condition. A rare piece by the original railroad mogul.

1868, Nevada. Stock certificate for 57 shares. Black. Nice woodcut vignette of a miner holding a pick at upper left. Litho. Attached adhesive at lower left. Signed as president of the company by ADOLPH SUTRO.(1830-1898). Mining engineer. Sutro formed the Sutro Tunnel Company which constructed a tunnel to provide ventilation, drainage and an easy means of transporting men and materials to and from the mines in the region of the Comstock Lode. Retiring to San Francisco in 1879, he became active in civic and business affairs, and was elected mayor in 1894. Always interested in the history and science of printing, he amassed a collection of over 200,000 volumes on this subject, much of which now forms a part of the San Francisco Public Library. A scarce certificate of this, one of the centuries’ most important engineering projects signed by Sutro. Uncanceled and Fine.

ADOLPH SUTRO  (1830-1898). Mining engineer. Sutro formed the Sutro Tunnel Company which constructed a tunnel to provide ventilation, drainage and an easy means of transporting men and materials to and from the mines in the region of the Comstock Lode. Retiring to San Francisco in 1879, he became active in civic and business affairs, and was elected mayor in 1894. Always interested in the history and science of printing, he amassed a collection of over 200,000 volumes on this subject, much of which now forms a part of the San Francisco Public Library. ALS. 2pp. 2 sheets. 5" x 8". Midland Grand Hotel, London. September 23, 1878. An autograph letter written to his daughter Emma, expressing that he will be delayed in London and that she should make arrangements to come over, telegraph him when her arrangements are made and "Be sure to take the day train."