Texas Sabine Valley and Northwestern Railway - 1888 dated Texas $1,000 Railroad Bond
Inv# RB5517 Bond
$1,000 Gold Bond. Superb graphics by American Bank Note Co., NY. Many coupons attached. A great Texas Bond! The railroad operated from 1887 until 1904, after which it became part of the Texas and Gulf Railway. Subsequently, it was integrated into the Gulf, Colorado and Santa Fe Railway, a subsidiary of the Atchison, Topeka & Santa Fe Railway. Beginning in Galveston, Texas, the railroad expanded northwestward across the state to Sweetwater and further north through Fort Worth to Purcell, Oklahoma.
In 1873, there was intense competition between the cities of Houston and Galveston, with the Galveston, Houston & Henderson Railroad (GH&H) serving as the sole rail connection between them. This rivalry was exacerbated by the frequent quarantines imposed on Galveston traffic by Houston, which were typically enacted due to yellow fever outbreaks and epidemics. In response, the citizens of Galveston resolved to construct their own railroad line that would traverse Texas, extend into the Panhandle, and reach Santa Fe, New Mexico, thereby circumventing Houston. Consequently, the Gulf, Colorado & Santa Fe Railroad (GC&SF) was chartered, and the state consented to provide 16 sections of land for each mile of track constructed.
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