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Deming, Sierra Madre and Pacific Railroad Gold Bond - 1889 dated $1,000 6% First Mortgage Railway Uncanceled Bond

Inv# RB5178   Bond
State(s): New Mexico
Years: 1889
Color: Orange and Black

$1,000 6% Bond was payable in U.S. Gold Coin. Uncanceled. All 60 coupons attached. Graphics by New York Bank Note. Excellent Condition! Western Railroad bonds are so very popular! Has become Rare!

The Deming, Sierra Madre and Pacific Railroad was a short thirty seven mile, entirely American, line running due south to the border from Deming, New Mexico. There, somewhere near the  Mexican customs station at Las Palomas, the American line would be met by the Sonora, Sinaloa and Chihuahua Railroad (Fe-rrocarril Sonora, Sinaloa y Chihuahua). Both lines were owned and organized by separate American companies, with an extensive over-lapping of board members. And both firms operated from home offices located in Deming, New Mexico.

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: $170.00