1907 Toledo Canada Southern and Detroit Railway Bond Stock Certificate Railroad

Description

Edward King -
Head of Union Trust Bank ---  signed the agreement in 1907 - with J P Morgan --  that ended the Panic of 1907  --   Morgan had pretty much locked the bankers in the room and told King to sign it and gave him a gold pen  ----  and the document was signed at 4 am on October 24 1907 ---   here King signs a bond many years earlier in 1873 ---   this is the ORIGINAL and GENUINE bond on the Toledo Canada Southern and Detroit Railway Co   ---     you can read much more about the Panic elsewhere ---
Upon hearing of the dire circumstances in New York, J.P. Morgan, who was spending time in Richmond, Virginia, attached his private Pullman car on a steam engine so that he could travel to the city overnight. On October 20, Morgan organized a reconnaissance mission of sorts to assess the situation on Wall Street. The conclusion of their mission granted that, while some institutions needed to be rescued financially, other should be allowed to fail (Tucker, 2008). This theory on recovery presents a marked difference from how business --
By October 24, the New York Stock Exchange had only been able to stay open until the end of the day because J.P. Morgan had raised a million loan and had forbidden it to close. He threatened to "properly attend to" any individuals who were attempting to take advantage of the panic and sell people short (Gordon, 1989). That evening, Morgan assembled leading businessmen and bankers in his library to come up with a solution to the impending financial ruin. Morgan played solitaire - one of his favorite pastimes - as the bankers debated over potential solutions. Morgan often rejected such solutions, but finally, around 4 a.m., Morgan's lawyer presented him with a satisfactory plan to put more money in the banks. When Morgan approved of the plan, he had every person who pledged money to the bailout sign. As Edward King of Union Trust signed, Morgan commanded, "There's the place, King, and here's a pen" (Lingeman, 1999). True to Morgan's form, he accepted no nonsense, and he spoke directly and authoritatively.
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