Boston & Maine Railroad Company

Boston & Maine Railroad Company
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The Boston and Maine was the second major New England railroad. The B & M in 1900 had a system of owned and leased lines that totaled over 1,700 miles, had a major financial interest in the Maine Central, and had a growing interest in the Fitchburg. Lucius Tuttle (1846-1914) was President of both the B & M and Maine Central from the middle 1890s until 1910. At the turn of the century Tuttle’s Boston and Maine had so simple and chaste a financial structure (without benefit of watered stock, second mortgages, or refunding certificates) that E.H. Harriman, upon hearing of it, was reported to have exclaimed: “Great Scott! Is there anything like that left out of doors?”

The bankruptcy of the Boston and Maine in the late 1960s and the insolvency of virtually the entire northeastern rail network during the same period, called for drastic government action. In 1973 the Rail Reorganization Act established the United States Railroad Association as a fully representative body to plan a rationalized network. The company charged with administering the resulting system was the Consolidated Rail Corporation; or Conrail. The B&M; continued to exist (at least on paper) through 1983, when multimillionaire Timothy Mellon’s Guildford Transportation Industries (GTI) absorbed the company’s debts in bankruptcy court.

We are currently offering the following pieces from the Boston & Maine Railroad Company:

All certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. Unless otherwise indicated, images are representative of the piece(s) you will receive.