On display

This item is on display at Melbourne Museum

Melbourne Museum

Where is it from?

Association locations map

Tags

Add your own tags:
Separate multiple tags using a comma

Similar items over time

Scrip - Essendon Land, Tramway & Investment Co Ltd, Issued Victoria, Australia, 1889 Document Reg. No: NU 43818

Summary:
Essendon Land, Tramway & Investment Ltd. Scrip issued to John Brown of Geelong, Victoria, Australia
[Registered Office not listed]
10 January 1889
50 Shares
Capital: 1,000,000 Pounds in 200,000 Shares of 5 Pounds each
Certificate No. 973
Description:
Printed on white stock, black printed lettering and black, handwritten text. Elaborate panel with central, circular cartouche at left side of page bears company details.
Statement Of Significance:
The scrip is significant as an example of the extensive land speculation that occurred in Melbourne in the 1880s.

The Essendon Land, Tramway & Investment Company was formed by landboomer by James Mirams, newsagent owner in Collingwood, and its elected member of parliament from 1876-86; Mirams was a deacon of the Congregational Church and early member of the YMCA. He was a close friend and business associate of James Munro, member for Carlton, and subsequently Premier, 1890-92, whose speculative businesses also collapsed. With a board that included 6 members of parliament, and Mirams as company secretary, the Essendon Land, Tramway & Investment Company was formed in July 1888 to build a tramway from Essendon railway station westwards along Buckley Street to the municipal boundary with Keilor, a distance of 1.5 miles; Mirams owned land along Keilor Road.

From money raised with investors, the company paid Mirams more than 200,000 pounds for his otherwise useless land. In 1891 a new company, the Essendon Land & Finance Association, was formed to purchase the assets of the first company, allowing the original company's promoters to avoid paying calls on their shares. The tramway was never built, and the public investors lost their money. [R. Gillespie, 12 Jan 2006; from Michael Cannon, The Land Boomers, 1972]
Discipline: Numismatics
Dimensions: 17.5 cm (Height), 24.6 cm (Length)

More information

Tagged with: banking industry, finance industries, real estate, share certificates
Themes this item is part of: Land Boom in 1880s Melbourne, Domestic & Community Life Collection, Numismatics & Philately Collection, Public Life & Institutions Collection
On Display at: Melbourne Museum
Primary Classification: COMMERCE & RETAILING
Secondary Classification: Real Estate
Tertiary Classification: share scrip
Issued By: Essendon Land, Tramway & Investment Company Limited, Melbourne, Victoria, Australia, 10 Jan 1889
Issued To: John Brown, Geelong, Victoria, Australia, 10 Jan 1889

Add your comment

  • Museum Victoria does not provide valuations, for more information please visit the valuation infosheet
  • Please note that Museum Victoria staff will not normally respond to comments posted on our website.
Yes No