Elmira and Williamsport Rail Road Co. - BondInv# CW1068 Bond
$500 Bond. Civil War era.
The Elmira and Williamsport Railroad (earlier Williamsport and Elmira Railroad) is a historic railroad that operated in Pennsylvania.
The railroad originally ran north from Williamsport along Lycoming Creek as far as the village of Ralston, and was only extended beyond it to Elmira in 1854.
In 1863 the line was leased by the Northern Central Railway, and in 1910 the line was leased by the Pennsylvania Railroad. The line continued to operate until 1972, when it was destroyed by flooding from Hurricane Agnes.
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.