Texas and Sabine Valley Railway Co. - 1893 dated $1,000 Railroad Gold Bond
Inv# RB7156 Bond
$1,000 5% Gold Bond. All but 2 coupons remain. Operated from 1892 to 1904 then became part of the Texas and Gulf Railway. Then part of the Gulf, Colorado and Santa Fe Railway which was a subsidiary of the Atchison, Topeka & Santa Fe Railway. From its starting point in Galveston, Texas, the railroad eventually extended northwestwards across the state to
Sweetwater and northwards via Fort Worth to Purcell, Oklahoma.
In 1873, competition between the cities of Houston and Galveston was strong, and the Galveston, Houston & Henderson Railroad (GH&H) was the only rail link between the two cities. The competition between Houston and Galveston was fed by the quarantines, which were often imposed on Galveston traffic by Houston. These quarantines occurred almost annually and were based on yellow fever outbreaks and epidemics. So, the citizens of Galveston decided to build their own railroad line that would reach across Texas, into the Panhandle, and across the state line to Santa Fe, New Mexico. The idea was to bypass Houston. The Gulf, Colorado & Santa Fe Railroad (GC&SF) was chartered, and the state agreed to grant 16 sections of land per mile of track laid. Read more at https://en.wikipedia.org/wiki/Gulf,_Colorado_and_Santa_Fe_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.
Ebay ID: labarre_galleries