Chicago and Erie Railroad Co. - 1890 dated $1,000 Railway Gold Bond - Also Known as the Chicago and Atlantic Railroad
Inv# RB5030 Bond
New York
$1,000 5% Railroad Bond printed by Franklin Bank Note Co., New York. Beautiful train vignette with a city in the background. Victorian borders & title are exceptional. Superb Graphics. Scarce! The Chicago and Atlantic Railway, later the Chicago and Erie Railroad, was a railway in the United States which existed from 1871 to 1941, and was an important connection between the Columbus, Ohio metropolitan area and Chicago, Illinois.
The railway was formed in 1871 as the Chicago, Continental and Baltimore Railway, and renamed to the Chicago and Atlantic Railway in 1873. The western terminus was in the Chicago suburb of Hammond, Indiana, while the eastern terminus was at Marion, Ohio. The road suffered financial difficulties (particularly after a collision in 1887 outside Kouts, Indiana, which killed 10 people), and went through several internal reorganizations and name changes. It went through bankruptcy in 1890, and emerged as the Chicago and Erie Railroad with John G. McCullough as its president. In 1895, the road was purchased by the Erie Railroad, but retained its name and identity until it was consolidated in 1941. Read more at https://en.wikipedia.org/wiki/Chicago_and_Atlantic_Railway
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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