Frankford, Tacony and Holmesburg Street Railway Co. - Please Choose Which Type - $1,000 or $500 Railroad Gold Bond (Uncanceled)
Inv# RB5182 Bond
$1,000 or $500 5% Uncanceled Gold Bond was payable in U.S. Gold Coin. Numerous coupons. Graphics by Security Bank Note Co. Excellent Condition! Has become scarce. Available in Olive or Green. Please specify color. The Connecting Railway was a subsidiary of the Pennsylvania Railroad, incorporated to build a connection between the Philadelphia and Trenton Railroad and the PRR in the city of Philadelphia.
The PRR controlled the Philadelphia & Trenton, and had originally intended to directly connect the two lines through the heart of Philadelphia. However, attempts to buy out and demolish buildings in the right-of-way led to riots, and the Philadelphia & Trenton was forced to end at Kensington. To resolve the problem, Connecting Railway Company was incorporated May 15, 1863, and between 1864 and June 1867, constructed a 6.75-mile (10.86 km) connecting line between Frankford Junction on the Philadelphia & Trenton and Mantua Junction (now Zoo interlocking) on the PRR mainline, passing through what is now North Philadelphia.
On July 18, 1863, the Frankford and Holmesburg Railroad was incorporated to build a line from Frankford to Holmesburg. This would have paralleled the Philadelphia & Trenton between those points. The charter was amended on April 10, 1867, to allow it to build from the Philadelphia & Trenton at Holmesburg Junction to the nearby town of Bustleton instead. It built 4.16 miles (6.69 km) of line between the two points about 1870. On January 1, 1871, it was leased to the Philadelphia & Trenton to operate as their Bustleton Branch. The company subsequently went bankrupt and was sold at foreclosure on November 18, 1890, and was reorganized on January 12, 1891 as the Bustleton Railroad and leased to PRR. Passenger service on the Bustleton Branch ended on February 13, 1926 due to high competition. Read more at https://en.wikipedia.org/wiki/Connecting_Railway
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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