762

Ontario & Quebec Railway Co.

Currency:CAD Category:Coins & Paper Money Start Price:75.00 CAD Estimated At:150.00 - 250.00 CAD
Ontario & Quebec Railway Co.
SOLD
150.00CAD+ (30.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Oct 02 @ 18:31UTC-4 : AST/EDT

Buyer’s Premiums will be added on all items as per the Terms & Conditions of the sale. Invoices will be emailed out after The Toronto Coin Expo.

1 share Green, 1997, VF-XF, Vignette of Montreal ships, #26828. Canadian Pacific Railway controlled 80% of O & Q and were sued by the minority shareholders in the mid 1970s. The issue at hand was the disposition of the proceeds for real estate sales. O&Q had leased to CP 10,375 acres of land and just over 2,000 acres were sold by CP. Minority shareholders were outraged. They felt that the sales were illegal, and that they were mistreated. As the lawsuit progressed, shares of the O&Q rose to as high as $14,000 per share. In 1987 CP ultimately prevailed and the share price collapsed. A settlement was reached in 1998, shareholders received $2,300 per share. This is one of the most unusual cases in Canadian business history. While the debenture stock are occasionally seen by collectors, these are not. Certificates for shares are incredibly rare & rarely seen by collectors. A very compelling story. Nice addition for any collector of Canadian business history.