Cumberland Railway and Coal Co. 1886 30 year bond PROOF, Canada Bank Note Co.

Unique proof by the Canada Bank Note Company. Dominion of Canada, Province of Nova Scotia, Cumberland Railway and Coal Co. 1886 30 year bond PROOF.  Beautiful vignettes.

The Cumberland Railway and Coal Company (CD&C) was an industrial railway and coal company, first incorporated in 1872. Originally known as the Spring Hill and Parrsborough Coal and Railway Company, the CD&C was established with the twofold purpose of building a coal mine and then transporting the coal to the Bay of Fundy for shipment to various destinations in eastern Canada.

In 1874 the company obtained generous subsidies from the provincial government amounting to 10,000 acres of land and costs of $5,000 per mile. Construction began in 1875 and was completed in 1877. The company received further assistance from local politicians who were able to persuade the Intercolonial Railway (IRC), to divert their main line (then under construction) to a new location called Springhill Junction. Not only did this cut the CD&C’s construction costs but it provided a vital link to the IRC, extending the company’s reach into the province.

Unfortunately the company’s optimism was not matched by its financial resources. The expansion of the colliery and construction of the railway had exhausted the corporation’s capital. Following bankruptcy in 1883, its assets were picked up by the newly-minted Cumberland Railway and Coal Company. Mining operations resumed in 1884, followed by a period of rapid expansion. In 1891 the company was devastated by a horrific tragedy where 125 workers were killed in a fire in both collieries. The cause of the fire was never determined. It was the first of three catastrophic accidents to hit this ill-fated mine over the course of its existence.

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