The Florida, Alabama & Georgia Railroad Company (A, F&G) was the earliest company in the Pensacola area to attempt construction of a railroad, though it was ultimately unsuccessful. It was the predecessor of the Alabama & Florida Railroad.
Origins
As railroads first began operation in the 1820s, Pensacola's business leaders began planning a way to connect the harbor to this new transportation network. In December 1833, a public meeting was held that resulted in a request to the Alabama state legislature and Florida territorial council for permission to construct a 210-mile railroad. Finding enthusiastic approval from the Florida lawmakers, the Florida, Alabama & Georgia Railroad was incorporated on February 14, 1834, authorized to build a road from Pensacola to the Florida-Alabama border, where it would join a road from Columbus, Georgia.
The Alabama legislature was less enthusiastic, as Mobile delegates worried that a proposed branch line to Montgomery would affect commerce down the Alabama River. When their delegation blocked a first attempt to pass a charter, a compromise was reached that scrapped the Montgomery line, after which the plan was approved in late 1834. Florida endorsed the Alabama charter in February of the next year.
Funding & planning
In December 1834, 15,000 shares of A, F&G stock were put on the market at $0.25 per share and quickly purchased, bringing in $3,750 and allowing the company to organize as per its charter. This occurred on December 17. Military engineer William H. Chase was elected the board's president.
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References
Charles H. Hildreth. "Railroads Out Of Pensacola, 1833-1883." Florida Historical Quarterly, Volume XXXCII, Numbers 3 and 4, January-April 1959.