Chicago and Eastern Illinois Railroad Co. - 1887 dated $1,000 Railway Bond
Inv# RB5602 Bond
Indiana
$1,000 5% Gold Bond printed by Franklin Bank Note Co., NY. Numerous coupons. Neatly stamp cancelled. Gorgeous!!! The Chicago and Eastern Illinois Railroad (reporting mark CEI) was a Class I railroad that linked Chicago to southern Illinois, St. Louis, and Evansville. Founded in 1877, it grew aggressively and stayed relatively strong throughout the Great Depression and two World Wars before finally being purchased by the Missouri Pacific Railroad (MP or MoPac) and the Louisville and Nashville Railroad (L&N). Missouri Pacific merged with the C&EI corporate entity in 1976, and was later acquired itself by the Union Pacific Railroad.
The Chicago and Eastern Illinois Railroad was organized in 1877 as a consolidation of three others: the Chicago, Danville and Vincennes Railroad (Chicago-Danville, November 1871), the Evansville, Terre Haute and Chicago Railroad (Danville-Terre Haute, October 1871) and the Evansville and Terre Haute Railroad (Terre Haute-Evansville, November 1854). Intended to merge or purchase railroads that had built lines between the southern suburbs of Chicago and Terre Haute, Indiana through Danville, Illinois, the C&EI constructed a new line from Chicago to a Mississippi River connection in extreme southern Illinois at Thebes.
The management of the Chicago and Eastern Illinois and the Chicago and Indiana Coal Railway ("the Coal Road" or C&IC) became intertwined and eventually a connection was built between the two railroads between Goodland, Indiana (on the C&IC) and Momence (on the C&EI). By 1894 the Eastern had merged the C&IC. The C&EI continued this vigorous growth into the next decade. Read more at https://en.wikipedia.org/wiki/Chicago_and_Eastern_Illinois_Railroad
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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