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 Company, a Texas railway that existed for a brief period before being absorbed into a larger system, was chartered in the years following the American Civil War. Its primary objective was to establish railroad connections in the post-war South and connect Houston to other significant rail routes. The company’s expansion, though brief, was impactful, and its tracks and operations played a crucial role in linking East Texas with the state’s expanding rail network. The H&GN significantly contributed to Texas’ economic development, as the expansion of railroads throughout the 1870s and beyond fueled growth in industries such as lumber, cotton, and cattle.
The Houston and Great Northern Railroad’s independent existence came to an end on September 30, 1873, when it officially merged with the International Railroad Company. This union resulted in the formation of the International and Great Northern Railroad (IGN), a more extensive system that continued to grow and influence Texas’ development. Later, the IGN became part of the vast Missouri Pacific Railroad system, illustrating how smaller regional lines like the H&GN were often consolidated into larger, more powerful railway networks. Although its name vanished from corporate records, the legacy of the Houston and Great Northern lived on as a vital component of the much larger rail system that propelled economic expansion across Texas.
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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