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Mobile and Girard Railroad - 1860's dated $500 Railway Bond - Great Early Graphics with Washington Revenue

Inv# RB5157   Bond
State(s): Alabama
Years: 1860's
Color: Red and Black w/Blue Revenue

1860’s, Alabama, $500 Bond. Neatly hole cancelled. Great Early Graphics with Washington Revenue. Very Nice Condition. A very popular state with collectors. Very Scarce!

The Mobile & Girard Railroad, an Alabama railroad constructed in the mid-19th century, continues to operate in parts under different ownership. This 26-mile (42 km) line, with a track gauge of 5 ft (1,524 mm), was built in the mid-19th century.

In 1852, Alabama secured a right of way across US government lands from Girard, Alabama (across the Chattahoochee River from Columbus, Georgia) to Mobile Bay. Construction commenced in 1854, and by October 1, 1854, cars were running on the initial nine miles of track, connecting Fort Mitchell and Guerryton by mid-1855. However, the construction of the 13 miles from Guerryton to Union Springs was delayed and not completed until November 1859. The line was finally completed to Troy in 1870 and later extended to Andalusia.

Initially, the plan for Mobile to serve as the terminus was questioned as early as 1857. It was determined that constructing the line to Mobile would cost four times as much as reaching Pensacola. Additionally, Mobile had never made payment on its subscription to the railroad.

In 1879, the Central of Georgia Railroad expanded into Alabama by acquiring the Montgomery & Eufaula Railroad. Subsequently, several Alabama shortlines, including the Mobile & Girard Railroad, were acquired by the Central of Georgia. In 1963, the Central of Georgia became part of the Southern Railway, and in 1982, Southern and Norfolk & Western Railway merged to form Norfolk Southern. Over time, Norfolk Southern gradually abandoned the former Mobile & Girard line. The first section to be abandoned was from Andalusia to Goshen in 1986, followed by the section from Troy to Hurtsboro in 1988.

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $215.00