Southern Pacific Railroad Co. - 1866 dated $200 Railway Bond with Revenue Stamp

$200 Railroad Bond with 10 cents Washington revenue stamp. Rare! Some paper tears. Small size measures 8 1/2" x 5 3/4".

The Southern Pacific Railroad (SP), founded in 1865, played a pivotal role in shaping the American West and Southwest. Initially established to connect San Francisco and San Diego, the SP was acquired by the “Big Four” railroad barons—Leland Stanford, Collis P. Huntington, Charles Crocker, and Mark Hopkins—in 1868. These men leveraged the SP to dominate California’s rail traffic, eventually absorbing the Central Pacific Railroad in 1885 and expanding their reach to New Orleans through the completion of the “Sunset Route” in 1883. Known as “The Octopus” due to its near-monopoly and significant political influence, the company transformed the region’s economy by facilitating large-scale agriculture in California’s Central Valley and establishing major urban hubs like Los Angeles and El Paso.

Beyond its primary transportation network, which at its peak spanned over 13,000 miles across 13 states, the Southern Pacific left a lasting technological and cultural mark. It pioneered railroad innovation, developing specialized locomotives for the steep Sierra Nevada grades and establishing its own telecommunications network, which eventually became the basis for Sprint (Southern Pacific Railroad Internal Networking Telephony). The company also managed the world’s largest ferry fleet and a line of steamships connecting the Gulf Coast to New York. After over a century of independent operation, the Southern Pacific was acquired by the Union Pacific Railroad in 1996, marking the end of its corporate existence while its extensive infrastructure continues to serve modern freight and passenger needs.