$64,000; 31,000 or 24,000 Baltimore and Ohio Railroad Co. - 1947 dated Bond
Inv# HD1029 Bond
Ohio
$64,000; 31,000 or 24,000 5% Temporary Registered Bond printed by American Bank Note Company. Certificate #TRB3, 10 or 11!
The Baltimore and Ohio Railroad (reporting marks B&O, BO) was the pioneering common carrier railroad and the oldest railroad in the United States. Its inaugural section opened in 1830. Merchants from Baltimore, which had benefited from the construction of the National Road early in the century, sought to maintain their competitive advantage in trade with trans-Appalachian settlers. This competition was fueled by the newly constructed Erie Canal, which served New York City, and another canal being proposed by Pennsylvania that would connect Philadelphia and Pittsburgh. Additionally, the Chesapeake and Ohio Canal, which connected to Washington, D.C., although it never reached Ohio, and the James River Canal, which directed traffic toward Richmond and Norfolk, Virginia, were also contenders. Initially, the B&O was confined to Maryland, with its original line extending from Baltimore’s port west to Sandy Hook (opened in 1834). From Sandy Hook, it connected with Harper’s Ferry by boat, then by the Wager Bridge, across the Potomac into Virginia. It also connected with the navigable Shenandoah River. However, competition with the Chesapeake and Ohio Canal for trade with coal fields in western Maryland prevented the B&O from using the C&O right-of-way west of Harpers Ferry. To continue westward through the Appalachian Mountains, the B&O constructed the B & O Railroad Potomac River Crossing (1837) at Harpers Ferry, Virginia (since 1863, West Virginia).
The line extended through Virginia, reaching a point just west of the junction of Patterson Creek and the North Branch Potomac River. From there, it crossed back into Maryland and reached Cumberland in 1842, connecting with the National Road, the primary route westward. In 1852, it reached the Ohio River at Moundsville, Virginia, and in 1853, it reached Wheeling, where it established a terminus. A few years later, in 1857, it also reached Parkersburg, Virginia, below rapids that posed challenges to navigation during certain periods of the year. The Baltimore and Ohio Railroad played a pivotal role in Union success during the American Civil War, although the conflict also resulted in significant damage and repair costs. After the war’s conclusion, the B&O consolidated several feeder lines in Virginia and West Virginia and expanded westward into Ohio, including a junction at Portsmouth, Indiana, and Illinois. B&O advertising later adopted the motto: “Linking 13 Great States with the Nation.”
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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