Richmond & Danville Railroad - BondInv# RB5315 Bond
$1000 5% Gold Uncancelled Bond. 88 of 99 coupons remain. American Bank Note-NY. Superb!!! Rare!!!
The Richmond and Danville Railroad (R&D) Company was a railroad that operated independently from 1847 until 1894, first in the U.S. state of Virginia and later on 3,300 miles (5,300ákm) of track in nine states.
Chartered on March 9, 1847, the railroad completed its 140-mile (230ákm) line between Richmond and Danville in 1856. During the American Civil War, the railroad was a vital link between Richmond, the Confederate capital, and the rest of the Confederacy. After the Civil War, the railroad grew to become the 3,300-mile Richmond and Danville Railroad Company System.
Placed in receivership in 1892, the Richmond and Danville Railroad Company was sold in 1894 and conveyed into the new Southern Railway Company in 1896 and 1897.
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.