Algoma Central & Hudson Bay Railway Co.

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  • Item Category: Coins & Currency
  • Source: eBay
  • Sold Date: Jun 26, 2009
  • Channel: Auction House

Algoma Central & Hudson Bay Railway Co. 2 shrs Green 1959 Fine-Very Fine Grizzly bear vignette. Unusual!

This company was incorporated in 1899 to transport iron ore southward to the steel mills in Sault Ste. Marie on the Ontario side, at the mouth of Lake Superior. It became part of an intricate conglomerate of railways, steamship companies, steel mills & mining companies then known as the Consolidated Lake Superior Corporation. This company went bust in 1903 leaving thousands of angry and unpaid workers & creditors. The Ontario government had to call out the militia to keep order. The company reorganized and lurched from crisis to crisis until it was dissolved into various component companies in the mid 1930s. Algoma Central was one of these component companies that was spun off to the bondholders. The Algoma Central became famous for its Agawa canyon tours & other tourist attractions. They ultimately sold its railway assets and moved in to shipping and real estate and became the Algoma Corporation. They still maintain the bear as their corporate logo. This is a very difficult company to acquire and is a very important part of Canadian railway history. Definately a must have!