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, which later became known as the Chicago and Erie Railroad, was a significant railway in the United States that operated from 1871 until 1941. It served as a crucial link between the metropolitan area of Columbus, Ohio, and the city of Chicago, Illinois.
Established in 1871 under the name Chicago, Continental and Baltimore Railway, it was rebranded as the Chicago and Atlantic Railway in 1873. The railway's western terminus was located in Hammond, Indiana, a suburb of Chicago, while its eastern terminus was situated in Marion, Ohio. The railway faced numerous financial challenges, particularly following a tragic accident in 1887 near Kouts, Indiana, which resulted in the deaths of ten individuals. This led to several internal reorganizations and changes in its name. After declaring bankruptcy in 1890, it reemerged as the Chicago and Erie Railroad, with John G. McCullough assuming the role of president. In 1895, the Erie Railroad acquired the line, yet it maintained its name and operational identity until its eventual consolidation in 1941.
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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