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Detroit, Bay City and Western Railroad - Bond (Uncanceled)

Inv# RB5179   Bond
Detroit, Bay City and Western Railroad - Bond (Uncanceled)
State(s): Michigan
Years: 1912
$1,000 5% Sinking Fund Gold Bond. Uncanceled. Attractive graphics by Western Bank Note. 20 or more coupons. Very popular state! Very Scarce! From John Speller's Web Pages: Among the railroads of south-eastern Michigan the Detroit, Bay City & Western Railroad was last on the scene and one of the first to close. It neither went to Detroit, nor, from the point of view of Bay City, was it Western. Construction began in 1910 and the line reached Port Huron on 27 October 1916, though it had to rely on trackage rights over the Grand Trunk Railway for the last mile or two into Port Huron. The 97.3 mile line's chief projector was Thomas Lincoln Handy (1866-1922), a local entrepreneur with interests in the box making industry and coal mining. Following Mr. Handy's death the railroad went bankrupt in 1924. The section between Roseburg and Caro was sold to the Detroit, Caro & Sandusky Railway, and the rest of the line was torn up. The Roseburg to Peck section was also abandoned in 1937.

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: $129.00