Oregon Pacific Railroad Co. - 1880 dated $1,000 Railway Gold Bond (Uncanceled)
Inv# RB5589 Bond
$1,000 6% Gold Uncanceled Bond printed by American Bank Note Co., NY. At least 21 of 40 coupons present. Outstanding Bond! Rare State!
Oregon Pacific Railroad was a railroad in western Oregon, United States, from 1880 to 1894, when it was sold to the Oregon Central and Eastern Railroad. A substantial part of the Oregon Pacific's abandoned right-of-way is preserved as Oregon Pacific Railroad Linear Historic District. It was created and owned by Thomas Egenton Hogg.
Hogg organized the Corvallis and Yaquina Bay Railroad in 1872, with the vision to build a new transcontinental line eastward from the Oregon coast and provide Corvallis with a railroad connection. At the time, the next nearest rails were the Oregon Central Railroad in St. Joseph, and the Oregon and California Railroad in Albany. Hogg reorganized the railroad as the Willamette Valley & Coast Railroad, and ground was first broken in Corvallis on May 17, 1877. The Oregon Pacific Railroad was organized on September 15, 1880, as a successor to the WV&C. Read more at https://en.wikipedia.org/wiki/Oregon_Pacific_Railroad_(1880%E2%80%931894)
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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