Nevada & Oregon Railroad
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Railroads and controversy are nothing new to Nevada. Most railroads in Nevada began in controversy. Many duplicated already used runs. Most never amounted to much. But the NCO really was a nightmare to start. Yet, despite its rough start, this route eventually became an important link between two major railroads!
How much of a nightmare could it have been? It was organized to start at one city, but never even went there. It was planned to go south, but was built north. It had to go through five name changes.
In December of 1879 a San Francisco financier, Jack T. Davis, saw possibilities for another railroad in Nevada. Wadsworth was a major freight hauling center to places like Candelaria, Belleville, Belmont, etc. He formed the Western Nevada Railroad Co. to fill this void. The first phase was scheduled to be completed to walker Lake.
Colonel Thomas Moore, an Eastern promoter, came aboard in February of 1880. He did make one positive change and convinced Mr. Davis to change the terminus to Reno. However, he also caused significant problems for the railroad company. He never raised the funds he promised and was often late with the funds he could deliver. He never accounted for all of the money he did raise. He never invested a penny in this operation himself. He never bought materials locally. When he did, he never paid for them.
With such mediocre leadership within the first year not a single rail was laid. However, the name was changed to the Nevada & Oregon railroad Co. and the first section of track was to be laid to Purdy’s. But the company was still in trouble. However, in May things began to look up as the first spike was driven into the ground.
Unfortunately, the good news was short lived. In September of 1881 their was a major disagreement between two sides of stock holders. This lead to some shady deals, a death, and a two year court battle. As one Carson City lawyer said, they broke every one of the Ten Commandments but one. When asked which one they hadn’t broken, he replied that there was nothing to show that they had committed adultery - yet!
Money continued to plague the progress of laying track. In November the creditors were hounding on the doorstep, there was no money in the register, there had been no accurate accounting, and even the directors had not been reimbursed for cash advances. Under these conditions Colonel Moore finally left town.
On October 2, 1882 (almost three years after the first plans had been drawn up) the first train ran - all the way to Sun Valley! However, operations finally began to run smoother. Although this railroad never seemed to be in a hurry to move on, slowly but surely it wound its way to Oregon. In 1912 the Nevada- California-Oregon Railway Company finally reached Oregon.
How much of a nightmare could it have been? It was organized to start at one city, but never even went there. It was planned to go south, but was built north. It had to go through five name changes.
In December of 1879 a San Francisco financier, Jack T. Davis, saw possibilities for another railroad in Nevada. Wadsworth was a major freight hauling center to places like Candelaria, Belleville, Belmont, etc. He formed the Western Nevada Railroad Co. to fill this void. The first phase was scheduled to be completed to walker Lake.
Colonel Thomas Moore, an Eastern promoter, came aboard in February of 1880. He did make one positive change and convinced Mr. Davis to change the terminus to Reno. However, he also caused significant problems for the railroad company. He never raised the funds he promised and was often late with the funds he could deliver. He never accounted for all of the money he did raise. He never invested a penny in this operation himself. He never bought materials locally. When he did, he never paid for them.
With such mediocre leadership within the first year not a single rail was laid. However, the name was changed to the Nevada & Oregon railroad Co. and the first section of track was to be laid to Purdy’s. But the company was still in trouble. However, in May things began to look up as the first spike was driven into the ground.
Unfortunately, the good news was short lived. In September of 1881 their was a major disagreement between two sides of stock holders. This lead to some shady deals, a death, and a two year court battle. As one Carson City lawyer said, they broke every one of the Ten Commandments but one. When asked which one they hadn’t broken, he replied that there was nothing to show that they had committed adultery - yet!
Money continued to plague the progress of laying track. In November the creditors were hounding on the doorstep, there was no money in the register, there had been no accurate accounting, and even the directors had not been reimbursed for cash advances. Under these conditions Colonel Moore finally left town.
On October 2, 1882 (almost three years after the first plans had been drawn up) the first train ran - all the way to Sun Valley! However, operations finally began to run smoother. Although this railroad never seemed to be in a hurry to move on, slowly but surely it wound its way to Oregon. In 1912 the Nevada- California-Oregon Railway Company finally reached Oregon.
So, what does our stock certificate have to do with the conflicts of the Nevada & Oregon Railroad? Just read on...
This information appeared in the Reno newspaper on September 16, 1881: Thomas Moore had been running the show and must have heard about a meeting being called. From September 15th-17th four Board of Directors were issued 12,500 shares of stock each. They were ED Wheeler (President), Trenmor Coffin (Treasurer), James McMechen, and James Sunderland. Now the Board actually had more votes than the group that was currently running the show. A group the Board of Directors thought were fraudulent! So the fateful day arrived. September 27th at 1:00 P.M. Coffin, Wheeler, McMechen and Sunderland where there early. Moore, Fowler, and their followers came in soon and Fowler called the meeting to order. The first thing Fowler did was to demand that Coffin, et al leave. The were on the Board of Directors and not stockholders. Much to Fowler and Moore's surprise, Coffin’s group responded that they each had 12,500 shares of stock issued legally by the Board of Directors. Fowler then said he would remove them forcibly. Chaos ensued, men were cornered, a gun was brandished, and shots ensued. When calm was finally restored two men were wounded - one fatally and one seriously. The Gazette shared three separate accounts on the fact. They could not arrive at any conclusions.
Whoever was at fault the meeting had the affect of getting Moore to start moving with some speed and dedication. Soon the railroad had a destination. Bodie to the south and Oregon to the north. They decided to start north. A long string of trials and hearings took place. Coffin was not only cleared, he would become a District Judge in a few years. Finally, in 1884 Coffin's stock was finally declared to be illegal. So, this stock certificate was the beginning of a horrendous affair - and yet it was never really a stock certificate! |