Chicago, Rock Island & Texas Railway $10,000 Bond - SOLDInv# RB5210A
PMG Graded Unissued Bond, 63 EPQ Choice Uncirculated. SOLD. The Chicago, Rock Island and Texas Railway, a subsidiary of the Chicago, Rock Island and Pacific, was chartered on July 15, 1892, to build from a point on the north boundary of Montague County south to Weatherford in Parker County, a distance of seventy-five miles. The road was capitalized at $3 million, and the business office was located at Bowie. Members of the first board of directors included C. H. Thompson of Hennessey, Oklahoma; Joseph T. Harris of Belcher; M. A. Low and W. F. Evans of Topeka, Kansas; and John H. Matthews, Zachary T. Lowrie, and H. F. Weber, all of Bowie.
The Chicago, Rock Island and Texas Railway was organized to extend the Rock Island from Oklahoma into Texas. By 1893 fifty-five miles of track had been constructed from the Oklahoma-Texas state line to Paradise. In 1893 the charter was amended to authorized the line to open a branch to Fort Worth and Dallas. The track was extended thirty-six miles to Fort Worth by 1894, giving the road a total of ninety-one miles in Texas. Earnings for 1895 included $89,638 in passenger revenue, $325,378 in freight revenue, and $253 in other revenue.
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.
Item ordered may not be exact piece shown. All original and authentic.