Baltimore and Ohio Railroad Company Issued to Knights of Columbus - BondInv# RB7047A Bond
$10,000, 3 1/2% Gold Bond, Printed by International Bank Note Co., New York. Issued to Knights of Columbus!
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. It came into being mostly because the city of Baltimore wanted to compete with the newly constructed Erie Canal (which served New York City) and another canal being proposed by Pennsylvania, which would have connected Philadelphia and Pittsburgh. At first this railroad was located entirely in the state of Maryland, with an original line built from the port of Baltimore west to Sandy Hook. At this point to continue westward, it had to cross into Virginia (now West Virginia) over the Potomac River, adjacent to the confluence of the Potomac and Shenandoah rivers. From there it passed through Virginia from Harpers Ferry to a point just west of the junction of Patterson Creek and the North Branch Potomac River, where it crossed back into Maryland to reach Cumberland. From there it was extended to the Ohio River at Wheeling and a few years later also to Parkersburg, West Virginia. It continued to construct lines into Ohio, including a junction at Portsmouth. In later years, B&O advertising carried the motto: "Linking 13 Great States with the Nation." As part of a series of mergers, the B&O is now part of the CSX Transportation (CSX) network. The B&O also included the Leiper Railroad, the first permanent horse-drawn railroad in the U.S.
At the end of 1970, the B&O operated 5,552 miles of road and 10,449 miles of track, not including the Staten Island Rapid Transit (SIRT) or the Reading and its subsidiaries. It includes the oldest operational railroad bridge in the United States. When CSX established the B&O Railroad Museum as a separate entity from the corporation, it donated some of the former B&O Mount Clare Shops in Baltimore, including the Mt. Clare roundhouse, to the museum, while selling the rest of the property. The B&O Warehouse at the Camden Yards rail junction in Baltimore now dominates the view over the right-field wall at the Baltimore Orioles' current home, Oriole Park at Camden Yards. Part of the B&O Railroad's immortality has come from being one of the four featured railroads on the U.S. version of the board game Monopoly. It is the only railroad on the board that did not directly serve Atlantic City, New Jersey.
The organization was founded in 1882 as a mutual benefit society for working-class and immigrant Catholics in the United States. It has grown to support refugee relief, Catholic education, local parishes and dioceses, and global Catholic causes. The Knights promote a conservative Catholic view on public policy issues, including opposition to same-sex marriage, abortion, and birth control. Between 2008 and 2012, KoC gave at least $15 million to lobbies opposed to same-sex marriage.
The organization provides certain financial services to affiliated groups and individuals. Its wholly owned insurance company, one of the largest in the world, underwrites more than two million insurance contracts, totaling more than $100 billion of life insurance in force. The order also owns the Knights of Columbus Asset Advisors, a money management firm which invests in accordance with Catholic social teachings.
As of 2019, there were nearly two million members around the world. Women may participate in KoC through the Columbiettes and other female auxiliaries, and boys may join the Columbian Squires. The Order comprises four different "degrees", each one of which exemplifies one of the core principles of the order. There are more than 16,000 local Knights of Columbus councils around the world, including over 300 on college campuses.
During World War I, the Knights established soldiers' welfare centers in the U.S. and abroad. After the war, the Knights participated in education, occupational training, and employment programs for veterans.
The Oregon Compulsory Education Act of 1922 would have disallowed parochial schools, including Catholic schools, in that state. The Knights of Columbus challenged the law in court, and, in a landmark 1925 ruling (Pierce v. Society of Sisters), the U.S. Supreme Court struck it down.
In the 1920s, to combat animus targeted at racial and religious minorities, the organization published a series of three books: "Knights of Columbus Racial Contributions Series": The Gift of Black Folk, by W. E. B. Du Bois, The Jews in the Making of America by George Cohen, and The Germans in the Making of America by Frederick Schrader.
During the nadir of American race relations, the Ku Klux Klan promoted a conspiracy theory claiming that Fourth Degree Knights swore an oath to exterminate Freemasons and Protestants. The Knights began suing distributors for libel in an effort to stop this, and the KKK ended its publication of the false oath.
According to Church historian Massimo Faggioli, the Knights of Columbus are today "'an extreme version' of a post-Vatican II phenomenon, the rise of discrete lay groups that have become centers of power themselves".
The order is dedicated to the principles (Degrees) of charity, unity, fraternity, and patriotism. The first ritual handbook, printed in 1885, contained only the first two Degrees teaching unity and charity. Assemblies may form color guards, which are often the most visible arm of the Knights, to attend important civic and church events.
The Knights of Columbus states that charity is its most important principle. Beginning in 1897, the National Council encouraged local councils to establish funds to support members affected by the 1890s depression. Aid was also dispensed to assist victims of natural and man-made disasters in the early 20th century. Councils also offered employment agency services and provided aid to the poor and sick as well as people burdened with intellectual disability. The organization has been reluctant to discuss the charitable and social causes it supports, which have tended to be more conservative than the mainstream views of Catholics in general.
Membership is restricted to adult male Catholics. As of 2018, there were 1.9 million knights. Each member belongs to one of more than 16,000 local "councils" around the world. The college councils program started with the chartering of University of Notre Dame Council #1477 in 1910. As of 2018, there are more than 300 college councils.
The Supreme Council is the governing body of the order. It elects insurance members to serve three-year terms on a 24-member Board of Directors. Leaders' salaries are set by the board of directors and ratified by the delegates to the Supreme Convention. The seven-figure salaries of senior KofC officers have been criticized as excessive. In 1969, the Knights opened a 23-story headquarters building in New Haven.
Since its earliest days, the Knights of Columbus has been a "Catholic anti-defamation society". In 1914, it established a Commission on Religious Prejudices. As part of the effort, the order distributed pamphlets, and lecturers toured the country speaking on how Catholics could love and be loyal to America.
The creation of the 4th Degree, with its emphasis on patriotism, performed an anti-defamation function as well as asserting claims to Americanism. In response to a defamatory "bogus oath" circulated by the KKK, in 1914 the Knights set up a framework for a lecture series and educational programs to combat anti-Catholic sentiment.
The Knights have been urged to take a prominent role in the new evangelization. The CIS published a series on the new evangelization in 2011, and donations to other Catholic mass communication services represent one of the Knights' major expenditures. The Knights have also established councils in both secular and Catholic universities.
While the Knights were active politically from an early date, in the years following the Second Vatican Council, as the "Catholic anti-defamation character" of the order began to diminish as Catholics became more accepted, the leadership began to use its financial resources to directly influence the direction of the Church. That led to the creation of a "variety of new programs reflecting the proliferation of the new social ministries of the church".
The leadership of the order has been, at times, both liberal and conservative. Martin H. Carmody and Luke E. Hart were both political conservatives, but John J. Phelan was a Democratic politician prior to becoming Supreme Knight, John Swift's "strong support for economic democracy and social-welfare legislation marks him as a fairly representative New Deal anti-communist," and Francis P. Matthews was a civil rights official and member of Harry Truman's cabinet. The current Supreme Knight, Carl A. Anderson, previously served in Ronald Reagan's White House.
While the Knights of Columbus support political awareness and activity, United States councils are prohibited by tax laws from engaging in candidate endorsement and partisan political activity due to their non-profit status. The rules of the order also prohibit partisan politics in council chambers or at any events. Public policy activity is limited to issue-specific campaigns, typically dealing with Catholic family and sanctity of life issues.
The order opposed persecution of Catholics in Mexico during the Cristero War, and opposed communism. Also during the 20th century, the order established the Commission on Religious Prejudices, and the Knights of Columbus Historical Commission which combated racism. It was also supportive of trade unionism, and published the works "of the broad array of intellectuals", including George Schuster, Samuel Flagg Bemis, Allan Nevins, and W. E. B. DuBois.
During the Cold War, the order had a history of anti-socialist, anti-communist crusades. They lobbied to add "under God" to the Pledge of Allegiance, as a religious response to Soviet atheism. The Knights have been active opponents against the legal introduction of same-sex marriage and have been a key contributor in terms of funding to local measures. The Knights have donated over $1 million to the Susan B. Anthony Foundation and other anti-abortion and anti- contraception organizations.
Under the initial insurance scheme devised by founder McGivney, a deceased Knight's widow was granted a US$1,000 death benefit, funded by a pro-rata contribution from the membership. In addition, there was also a sick benefit for members who fell ill and could not work.
On March 10, 2001, the order opened a museum in New Haven dedicated to their history. The 77,000 square foot building cost $10 million to renovate. It holds mosaics on loan from the Vatican and gifts from Popes, the membership application from John F. Kennedy, and a number of other items related to the history of the Knights. Near the entrance is the cross held by Jesus Christ on the facade of St. Peter's Basilica before undergoing a Knights-financed renovation. As many as 300,000 visitors were expected per year.
In 2015, the order launched Knights of Columbus Asset Advisors, a money management firm which invests money in accordance with Catholic social teaching. The firm uses the Socially Responsible Investment Guidelines published by the United States Conference of Catholic Bishops to guide their investment decisions. The guidelines include protecting human life, promoting human dignity, reducing arms production, pursuing economic justice, protecting the environment, and encouraging corporate responsibility.
In addition to the wholly owned subsidiary, it also purchased 20% of Boston Advisors, a boutique investment management firm, managing assets for institutional and high-net-worth investors. Knights of Columbus Asset Advisors manages the fixed-income strategies for their funds while Boston Advisors sub-advises on the equity strategies. Knights of Columbus Asset Advisors also offers model portfolio, outsourced CIO services, a bank loan strategy, and other alternative investment strategies. In 2019, the Knights purchased the institutional management business of Boston Advisors.
The order owns and operates the Saint John Paul II National Shrine in Washington D.C. In 2011, the Order purchased the 130,000-square-foot John Paul II Cultural Center. The mission as a cultural center ended in 2009 and the Knights rebranded it as a shrine to Pope John Paul II. Soon after the pope was canonized, the United States Conference of Catholic Bishops named the building a national shrine.
Each year 64,000 pilgrims visit the shrine, which features video content, interactive displays, and personal effects from John Paul. There is also a first class relic of the pope's blood on display for veneration. It also serves as a base for the Order in Washington, D.C.
Many notable Catholic men from all over the world have been Knights of Columbus. In the United States, some of the most notable include John F. Kennedy; Ted Kennedy; Al Smith; Sargent Shriver; Samuel Alito; John Boehner; Ray Flynn; Jeb Bush; and Sergeant Major Daniel Daly, a two-time Medal of Honor recipient.
In the world of sports, Vince Lombardi, the famed former coach of the Green Bay Packers; James Connolly, the first Olympic gold medal champion in modern times; Floyd Patterson, former heavyweight boxing champion; and baseball legend Babe Ruth were all knights.
On October 15, 2006, Bishop Rafael Guizar Valencia (1878–1938) was canonized by Pope Benedict XVI in Rome. In 2000, six other Knights, who were killed in the violence following the Mexican Revolution, were declared saints by Pope John Paul II.
The emblem of the order was designed by Past Supreme Knight James T. Mullen and adopted at the second Supreme Council meeting on May 12, 1883. Shields used by medieval knights served as the inspiration. The emblem consists of a shield mounted on a Formée cross, which is an artistic representation of the cross of Christ. This represents the Catholic identity of the order.
Mounted on the shield are three objects: a fasces; an anchor; and a dagger. In ancient Rome, the fasces was carried before magistrates as an emblem of authority. The order uses it as "symbolic of authority which must exist in any tightly-bonded and efficiently operating organization". The anchor represents Christopher Columbus, patron of the order. The short sword, or dagger, was a weapon used by medieval knights. The shield as a whole, with the letters "K of C", represents "Catholic Knighthood in organized merciful action".
Many councils also have women's auxiliaries. At the turn of the 20th century two were formed by local councils, each taking the name Daughters of Isabella. They expanded and issued charters to other circles but never merged. The newer organization renamed itself the Catholic Daughters of the Americas in 1921, and both have structures independent of the Knights of Columbus. Other groups are known as the Columbiettes. In the Philippines, the ladies' auxiliary is known as the Daughters of Mary Immaculate.
A proposal in 1896 to establish councils for women did not pass, and was never proposed again.
The Knights' official junior organization is the Columbian Squires. According to the McDonald, "The supreme purpose of the Columbian Squires is character building."
It was founded in 1925 in Duluth, Minnesota, by Brother Barnabas McDonald, F.S.C.. The formation of new Squire Circles in the United States and Canada is discouraged as the Order desires to move youth activities from exclusive clubs into the local parish youth groups.
The Knights of Columbus is a member of the International Alliance of Catholic Knights, which includes fifteen fraternal orders such as the Knights of Saint Columbanus in Ireland, the Knights of Saint Columba in the United Kingdom, the Knights of Peter Claver in the United States, the Knights of the Southern Cross in Australia and New Zealand, the Knights of Marshall in Ghana, the Knights of Da Gama in South Africa, and the Knights of Saint Mulumba in Nigeria.
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.