Gulf, Florida and Alabama Railway Company 1915 - Florida

Beautifully engraved certificate from the Gulf, Florida and Alabama Railway Company issued in 1915. This historic document was printed by the Hamilton Banknote Company and has an ornate border around it with a vignette of a train. This item is hand signed by the Company’s President ( Roy c. Megargel )and Secretary ( C. W. Byran ) and is over 87 years old.






Certificate Vignette



Named after the railroad president, Roy Megargel, this is a case where the town might seriously consider a name change. It's not a name that is easily pronounced and therefore the town tends to be forgotten.

The town dates from 1910. There is one main street with many brick buildings, some of which have been destroyed by fire.

Megargel sprang up overnight, since large discounts were given to people who developed their lots within 60 days. The town had 23 stores, a bank, hotel and post office within 90 days of its founding.

Oil was discovered in the 1920s, but the boom wasn't nearly as big as other towns. The high school is said to have the first high school band in the State, for what that is worth. It began its decline in 1930 and the bank folded in 1941

In 1923, The Pepsi-Cola Company was declared bankrupt and its assets are sold to a North Carolina concern, Craven Holding Corporation, for $30,000. Roy C. Megargel, bought the Pepsi trademark, business and good will from Craven Holding Corporation for $35,000, forming the Pepsi-Cola Corporation.