Houston and Great Northern Railroad Co. - 1872 dated $1,000 Bond signed by Galusha Aaron Grow (Uncanceled) - Autograph Railway Bond
Inv# GB5588 Bond
Galusha Aaron Grow, born on August 31, 1823, and passing away on March 31, 1907, held the esteemed position of the 24th Speaker of the United States House of Representatives, serving from 1861 to 1863. Initially elected as a Democrat in the 1850 congressional elections, Grow later switched to the newly formed Republican Party in the mid-1850s when the Democratic Party attempted to force the expansion of slavery into western territories.
Elected as Speaker for the 37th Congress, Grow presided over the House during the initial years of the American Civil War. During his tenure, Congress enacted the landmark Homestead Act of 1862, which he vehemently supported. However, Grow faced defeat for reelection in 1862. Remarkably, he remained the last incumbent House Speaker to be defeated for over a century until Speaker Tom Foley lost his seat in 1994.
Even after leaving office, Grow continued to be an outspoken advocate for political causes, though he did not seek elective office again. Remarkably, 31 years after his departure from office, Grow secured an 1894 special election to succeed William Lilly. This remarkable achievement stands as one of the longest known interregnums between terms of service for a House member. Throughout his illustrious career, Grow represented the people of three Pennsylvania congressional districts: the 12th district (1851–1853), the 14th district (1853–1863), and Pennsylvania’s at-large congressional district (1894–1903).
The Houston and Great Northern Railroad, chartered on October 22, 1866, aimed to connect Houston, Texas, to the Red River and eventually the Canadian border. Despite early founders like William Marsh Rice and Ebenezar B. Nichols, construction was delayed due to Reconstruction era economic difficulties. Work began in late 1870, and by 1872, the line reached Crockett. During its brief independent existence, the company acquired the Houston Tap and Brazoria Railway and the Huntsville Branch, expanding to 253 miles of track.
On September 30, 1873, the Houston and Great Northern merged with the International Railroad Company to form the International-Great Northern Railroad (I&GN). This consolidation linked key Texas hubs like Laredo, Austin, and San Antonio. Over the decades, the I&GN became a vital component of the Missouri Pacific lines. Later acquisitions and reorganizations absorbed the original Houston and Great Northern routes into the Union Pacific Railroad system in 1997.
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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