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Baltimore and Ohio Railroad - 1901 Very Rare Unissued Railway Bond Type - Following its Emergence from Bankruptcy

Inv# RB5136   Bond
State(s): Maryland
Years: 1901
Color: Brown

Railroad Series H Bond. Exceptional borders. Unissued. Baltimore and Ohio Railroad Company Railroad Bond. Extremely Rare. Never seen Issued.

The Baltimore and Ohio Railroad (reporting marks B&O, BO) was the first common carrier railroad and the oldest railroad in the United States, with its first section opening in 1830. Merchants from the city of Baltimore, which had benefited to some extent from the construction of the National Road early in the century, wanted to continue to compete for trade with trans-Appalachian settlers with the newly constructed Erie Canal (which served New York City), another canal being proposed by Pennsylvania (which would have connected Philadelphia and Pittsburgh), the Chesapeake and Ohio Canal (which connected to the nation's capital, Washington, D.C., although it never reached Ohio), and the James River Canal, which directed traffic toward Richmond and Norfolk, Virginia. At first, the B&O was located entirely in the state of Maryland, its original line extending from the port of Baltimore west to Sandy Hook (opened in 1834). There it connected with Harper's Ferry (by boat, then by the Wager Bridge) across the Potomac into Virginia, and also with the navigable Shenandoah River.

Following its emergence from bankruptcy, control of the B&O was acquired by the Pennsylvania Railroad in 1901, though the two kept separate corporate identities. A rising young PRR Vice President, Leonor F. Loree, was appointed president. Loree shared the Pennsy management's belief in infrastructure and the B&O at that time needed some of that. New classes of engines were built to haul longer, heavier trains faster. The Old Main Line was reworked, sections of the original right-of-way cut off by the straightening of curves and replacement of old, weight-restricted bridges with newer, heavier bridges. Most of Loree's work on the B&O physical plant remains evident today. Many iron and steel bridges on the railroad were replaced with stone (Pennsy preferred stone to the preference of the Reading and Lackawanna Railroad for concrete). With the adoption of anti-trust legislation in 1906, the relation between the two companies was severed. Read more at https://en.wikipedia.org/wiki/Baltimore_and_Ohio_Railroad

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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.
Price: $35.00