Nov 29, 2012 - Sale 2296

Sale 2296 - Lot 90

Price Realized: $ 3,120
?Final Price Realized includes Buyer’s Premium added to Hammer Price
Estimate: $ 2,500 - $ 3,500
TELEGRAPH GIANTS FORM WORKING UNION MORSE, SAMUEL F.B. Autograph Document Signed, "S.F.B. Morse" in the third person within the text, a receipt for stock certificates in the Magnetic Telegraph Company valued at $34,400 to be exchanged by Amos Kendall on Morse's behalf for stock in the American Telegraph Company of New Jersey. With holograph annotation additionally signed: "Settled / S.F.B. Morse", below text, and holograph docketing verso, in pencil. Additionally signed by Kendall. 1 page, 6x7 3/4 inches, pale blue ruled paper; large ink "X" cancelling text (but still legible), cancellation lines through Kendall's signature. New York, 11 October 1859
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On September 1, 1859, Morse, Kendall and other major stockholders of the Magnetic Telegraph Company accepted an offer from the American Telegraph Company of $500,000 in American stock in exchange for the same in Magnetic. On the day following the date of this receipt, American reorganized under New Jersey law, appointing Zenas Barnum (of Magnetic) to be its president, and with Morse on its board of directors.