Galveston, Houston and Henderson Railroad Co. - 1857 dated $100 Uncanceled Texas Railway Bond
Inv# RB7016 Bond
Texas
It is particularly interesting to note that most of these bonds have been bought up by speculators. As a result, they are now extremely rare.
The Galveston, Houston and Henderson Railroad was the inaugural railway service connecting Houston and Galveston. Often referred to as the 'Old Reliable Short Line,' it commenced operations around 1859 and continued for 136 years under its initial charter. Subsequently, the railroad was acquired by the Missouri Pacific Railroad, and portions of its original right-of-way are now part of the Union Pacific Railroad. The Galveston, Henderson and Houston Railroad received its charter on February 7, 1853, named after its primary destinations: Galveston, Houston, and Henderson.
Construction began in 1857, and service between Virginia Point, Texas, and Houston was established approximately two years later. This segment of the railway traversed a flat and straight coastal plain. The construction was supported by funding from Galveston County, which financed the building of a causeway across the broad channel between Virginia Point and Galveston Island. The railway initiated service between Galveston and Houston in 1860 and was predominantly under the control of the Confederate States of America during the American Civil War. In more recent times, the majority of the original right-of-way of the Galveston, Houston and Henderson Railroad, which runs between the Island and Bayou cities, has been owned by the Union Pacific Railroad, designated as the Galveston Subdivision.
This historic rail line spans 47 miles and is situated just east of I-45, running parallel to it. The Galveston Subdivision has key connections to the Houston regional freight network at its junction with the West Belt Subdivision and at its junction with the Union Pacific Railroad Galveston at Virginia Point. Although primarily a single-track line with occasional sidings, the Union Pacific reported an average of fifteen to twenty-five trains operating daily in 2005.
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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