June 19, 2009

New York state revenues on bonds

Michael Mahler, one of my contributors, just finished a HUGE article on revenue stamps applied to bonds held by New York residents.

You can find parts 1, 2 and 3 of Mike's article on the American Revenue Association website. Unfortunately, part 4 of Mike's article exceeded the capability of the association's small website. He will post the final part once the association acquires more server space.

Mike tells me he has seen New York revenues on bonds dated as early as 1847 and as late as the 1920s. The revenue stamps he talks about in his article are most common on bonds of the 1890s to 1900s.

His article is titled, New York Mortgage Endorsement, Secured Debt, and Investment Stamp Taxes, 1911-1920. I will bet that most collectors who own more than a few railroad bonds have one of the stamps that Mike is interested in.

That is NOT to say that they are common. Quite the contrary. Some are quite hard to find. Collectors of stocks and bonds generally do not pay premiums for revenue stamps, but philatelists do. Mike points out that, "Some seen as common by scripophilists become rarities to philatelists!"

When you get to the research page of the American Revenue Association, you will find a previous article by Michael Mahler that you might also be interested in: Robert Schuyler's 1853-4 Stock Fraud on the New York and New Haven Railroad: the paper trail.
Mike sent two more stamps for illustration. You may find them on my Facebook page. (You do NOT need to be a member to see them.)

1 comment:

Anonymous said...

I know Mike from both his previous writings and various phone conversations.

I can tell you that these are incredibly well researched and well written pieces. Mike is completely thorough.

He is also the most pleasant person to deal with.

Tim W.