Baltimore and Ohio Railroad Co. - Lot of 16 Bonds - High Denomination Collection

Lot of 16 Various denominations 4% Bonds printed by American Bank Note Company. Some with paper loss and stains. 

The Baltimore and Ohio Railroad, identified by the reporting marks BO and B&O, holds the distinction of being the oldest railroad in the United States and the first steam-operated common carrier. The construction of this line commenced in 1828, and it functioned under the B&O name from 1830 until 1987, when it was integrated into the Chessie System. Currently, its lines are managed by CSX Transportation.

Established to cater to merchants in Baltimore seeking to engage with settlers traversing the Appalachian Mountains, the railroad faced competition from various existing and proposed turnpikes and canals, including the Erie and the Chesapeake and Ohio Canal. The railroad commenced operations in 1830 on a 13-mile stretch connecting Baltimore to Ellicott's Mill in Maryland. The initial horse-drawn cars were substituted with steam locomotives the subsequent year.

In the ensuing decades, construction progressed westward. Throughout the American Civil War, the railroad incurred significant damage but played a vital role in securing a Union victory. Following the war, the B&O consolidated multiple feeder lines in Virginia and West Virginia and further expanded westward into Ohio, Indiana, and Illinois.

In 1962, the Chesapeake and Ohio Railroad acquired control of the B&O, although it continued to operate independently. By 1970, the B&O managed 4,535 miles (7,300 km) of mainline track, in addition to the Staten Island Rapid Transit system and the Reading Railroad along with its subsidiaries. The B&O ceased long-distance passenger service in 1971, yet it maintained limited commuter service in Washington, D.C., and Pittsburgh. In 1987, the B&O was officially merged into the C&O, which had by that time become a subsidiary of CSX Transportation (CSX).