Seth Kaller, Inc.

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INV-21117.99 ABRAHAM LINCOLN Autograph Manuscript Signed by Lincoln in text, constituting his official transcript of the “Subscription Book of the Capital Stock of the Alton and Sangamon Rail Road Company,” incorporated February 27, 1847, transcribed in early 1851. Comprising a cover sheet titled in Lincoln’s hand, the joint stock subscription statement and list of 91 shareholders with the number of shares subscribed, and leaf with Lincoln’s legal docket: “Alton and Sangamon Railroad Company vs. James A. Barret. Copy of contents of subscription book....” 8 pp., 6⅝ x 8¼ x ¼ in. 1847-02-27

A list of stockholders, entirely in Lincoln’s hand, filed as evidence in his first significant railroad case. Lincoln’s own appearance in the shareholder list represents only the second known instance of a stock purchase by the future president. The Illinois Supreme Court’s ultimate ruling in favor of Lincoln and the railroad set an important legal precedent, upholding the binding nature of a stockholder’s contractual and financial obligations. “The decision, subsequently cited in twenty-five other cases throughout the United States, helped establish the principle that corporation charters could be altered in the public interest, and it established Lincoln as one of the most prominent and successful Illinois practitioners of railroad law” (Donald, p.155).

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