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Chicago, Pekin and South-Western Railroad Co. - 8% $1,000 Railway Mortgage Bond (Uncanceled) - Part of the Atchison, Topeka and Santa Fe Railroad System

Inv# RB5745   Bond
State(s): Illinois
Years: 1876
Color: Black

$1,000 8% Uncanceled Bond. All 60 coupons remain. Rails ran between Coal City, Illinois and Joliet, Illinois. The Chicago and St. Louis Railway was a predecessor of the Atchison, Topeka and Santa Fe Railway that owned a line between Chicago and Pekin, Illinois. More than half of the line is now part of the BNSF Railway's Southern Transcon. The Illinois General Assembly chartered the Chicago and Plainfield Railroad on February 24, 1859 to build a railroad from Chicago via Lyons, Plainfield, and Lisbon or Newark to Ottawa.

In 1867, the General Assembly authorized a branch into Peoria County, and in 1869 it was renamed twice with expanded powers: first on March 29 to Chicago, Plainfield and Pekin Railroad, with the power to build on any route from Chicago via Plainfield to Pekin, and then on April 19 to Chicago, Pekin and Southwestern Railroad (CP&SW), with only Chicago and Pekin named as intermediate points. The road's first construction contract was dated August 21, 1869, and on January 6, 1873 it was opened from Streator to Pekin, except for about 6 miles (9.7 km) of trackage rights on the Toledo, Peoria and Warsaw Railway between Eureka (Streator Junction) and Washington (Pekin Junction).

In 1875, the CP&SW bought an unfinished grade between Streator and the Mazon River at Gorman from the Chicago and Illinois River Railroad (C&IR), which it opened for operation on May 21, 1876, along with trackage rights into Joliet on the C&IR. The CP&SW was also known as the "Hinckley road" after president Francis E. Hinckley. The CP&SW was sold at foreclosure on May 31, 1881 to Hinckley and reorganized on May 15, 1882 as the Chicago, St. Louis and Western Railroad. Read more at https://en.wikipedia.org/wiki/Chicago_and_St._Louis_Railway

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Condition: Excellent

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: $175.00