1840's dated State of Ohio Canal Stock and Trust Co. - 1840's dated Bond - Mentions Ohio Life Insurance Company
Inv# GB5085 Bond
Various Denominations Bond. 5 vignettes-man with plow & horses, woman at right & 3 others. Various size cancellation holes at center. Rare!
The Ohio and Erie Canal was constructed in the 1820s and early 1830s to link Akron with the Cuyahoga River near its Lake Erie outlet in Cleveland and later extended to the Ohio River near Portsmouth. It also connected with other canal systems in Pennsylvania. The canal facilitated freight traffic from 1827 until 1861, when the rise of railroads diminished its use. From 1862 to 1913, it primarily served as a water source for industries and towns. However, in 1913, severe flooding led to the abandonment of much of the canal system.
Today, most of the remaining sections are managed by the National Park Service or the Ohio Department of Natural Resources. These areas are used for recreational activities and continue to provide water for some industries. Portions of the canal, including the Ohio and Erie Canal Historic District, are preserved as a National Historic Landmark. At the time Ohio achieved statehood in 1803, it was a sparsely populated region with around 50,000 residents scattered across the state. The lack of efficient transportation options limited economic growth, restricting agriculture to local needs and stifling large-scale manufacturing.
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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