Canada Southern Railway - circa 1880's $10,000 Unissued Canadian Railroad Bond
Inv# RB5227 Bond
$10,000 Unissued Bond. Outstanding graphics by American Bank Note - NY. Truly Gorgeous!!!
The Canada Southern Railway (CASO), originally known as the Erie and Niagara Extension Railway, was established on February 28, 1868. Designed as a highly efficient, double-track mainline, it stretched from Fort Erie to Windsor, Ontario. The flat and remarkably straight route bypassed the challenging terrain south of Lake Erie, making it the fastest and shortest rail link between Michigan and New York State. Recognizing the immense economic potential of a major rail corridor, the town of St. Thomas, Ontario, successfully persuaded the company to build its sprawling corporate headquarters and locomotive repair shops within its borders. Completed between 1871 and 1873, the massive Italianate-style St. Thomas CASO Station emerged as a monumental architectural hub, solidifying St. Thomas’s legacy as the “Railway Capital of Canada.”
Despite its strategic location, the Canadian Atlantic and Pacific Railway (CASO) faced immediate financial difficulties and went bankrupt in 1874. Subsequently, it was rescued and absorbed into Cornelius Vanderbilt’s expanding transportation empire. This integration placed the CASO under the operational control of the Michigan Central Railroad and later the New York Central Railroad (NYC). For nearly a century, the line served as a crucial international route, with renowned American passenger trains, such as the Empire State Express, traversing southwestern Ontario. However, the mid-20th century witnessed a decline due to corporate mergers and the rapid rise of automobile highway travel. Following corporate changes through Penn Central and Conrail, the infrastructure was jointly acquired by Canadian National and Canadian Pacific in 1985 to reduce market competition. Consequently, systemic track abandonments occurred. Today, international passenger service has ceased, but the meticulously restored CASO Station in St. Thomas continues to thrive as a cultural heritage site, operated by the North America Railway Hall of Fame.
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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