The Credit Mobilier scandal of 1867 was a two-part
fraud by the Union Pacific Railroad and the Credit Mobilier of America
construction company in building the eastern part of the First Transcontinental
Railroad. Credit Mobilier was created by
Union Pacific executives to greatly inflate construction costs. The railroad
cost only $50 million to build, but Credit Mobilier billed $94 million to Union
Pacific and Union Pacific executives pocketed the excess $44 million. The second
part of the scandal involved using excess cash to bribe several Washington
politicians for laws and favorable regulatory rulings favoring Union Pacific.
The scandal ruined the careers of many politicians, caused Union Pacific to go
bankrupt and was a great embarrassment to the administration of President Ulysses
CHARLES A. LAMBARD was a major stockholder in the Union Pacific Railroad. Offering a beautiful 8 ½ x 12 stock certificate for 20 shares from the Cedar Rapids and Missouri Railroad Company, made out to Lambard and signed by him on the verso, January 21, 1869.
Soiling in the margins.
Everything we sell is guaranteed authentic forever to the original buyer. We also offer a 30-day return policy. If you discover a problem or are dissatisfied with an item, please contact us immediately. Our goal is to please every customer. We are pleased to be members of The Manuscript Society, Universal Autograph Collectors Club, The Ephemera Society, the Southern New England Antiquarian Booksellers and the Preferred Autograph Dealers and Auction Houses. [WH AM 119]