Rock Island, Peoria and St. Louis Railway - 1891 dated $100 Railroad Bond (Uncanceled)
Inv# RB5338 Bond
$100 5% Uncanceled Gold Bond printed by American Bank Note - Coupons at right. In relation to this rail line, the Peoria and Rock Island Railroad was a railroad of 91-mile (146 km) in length, located in the U.S. state of Illinois. It provided service between the two cities listed in its corporate name. Chartered on March 7, 1867, it was built between 1867 and 1871 and first provided passenger service between these two cities on July 8, 1871. The railroad is best known for being the right-of-way for the 26-mile (42 km) Rock Island Trail State Park, a rail trail conversion.
The Peoria and Rock Island (P & RI) was built during the post-American Civil War 1860s, a period of substantial railroad development, especially in the victorious Northern states. Although both Peoria, Illinois and Rock Island, Illinois are located on navigable waterways and enjoyed substantial freight traffic by steamboat, there would be no direct water connection between the Upper Mississippi River and the Illinois River until the construction of the Hennepin Canal in 1907. The Peoria and Rock Island went into foreclosure and, for legal purposes, changed its name to the Rock Island and Peoria Railway in October 1877. Read more at https://en.wikipedia.org/wiki/Peoria_and_Rock_Island_Railroad
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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