Old Colony Railroad Corporation - 1854 dated $1,000 Railway Bond
Inv# RS2512 Bond
$100 Bond. Printer-Damrell & Moore. Early! Archival repair.
The Old Colony Railroad (OC), a prominent railroad system spanning southeastern Massachusetts and parts of Rhode Island, operated from 1845 to 1893. Its extensive network connected Boston to various destinations, including Plymouth, Fall River, New Bedford, Newport, Providence, Fitchburg, Lowell, and Cape Cod. For many years, the OC Railroad Company also operated steamboat and ferry lines, notably the Fall River Line, which provided express train service from Boston to its wharf in Fall River. From there, passengers boarded luxury liners bound for New York City. Additionally, the company briefly operated a railroad line on Martha’s Vineyard and the freight-only Union Freight Railroad in Boston. The name “Old Colony Railroad” was derived from the “Old Colony,” the affectionate nickname for the Plymouth Colony.
From 1845 to 1893, the OC network experienced significant growth through a series of mergers and acquisitions with other established railroads. However, on March 1, 1893, the OC Railroad Company was acquired by the New York, New Haven, and Hartford Railroad under a lease agreement for its entire 617-mile (993 km) network. Consequently, all trains, lines, and stations became part of the vast “New Haven” system. During this period, the New York, New Haven, and Hartford Railroad effectively monopolized all passenger and freight rail services in southern New England.
Passenger service on the New Haven’s Old Colony Division ceased in 1959, except for the main line connecting Boston and Providence, which continues to be used for passenger service by Amtrak and the MBTA. Since 1997, other former OC lines have been reopened to passenger service, including the MBTA’s Old Colony Lines, which provide service from Boston to Plymouth and Middleborough/Lakeville. In 2007, MBTA passenger service was restored on the Greenbush Line between Braintree and Greenbush Station in Scituate. The MBTA currently has plans to also restore passenger service to Fall River and New Bedford as part of the South Coast Rail project.
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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