Henderson and Overton Branch Railway - 1876 dated $500 Gold Coin Texas Railroad Bond (Uncanceled)
Inv# RB5184 Bond
$500 7% Bond was payable in U.S. Gold Coin. Uncanceled. Coupons attached at bottom. Excellent Condition! Very Rare! A very popular state.
The Henderson and Overton Branch Railway was chartered on April 29, 1874, to connect the city of Henderson to the International and Great Northern Railroad in Overton, Texas. The railway covered approximately 16 miles, as detailed in the Texas State Historical Association. Despite construction challenges and the reorganization of contractors, the line officially opened on May 7, 1877. This provided crucial transportation access to the region after the main railroad line bypassed the town.
The International and Great Northern Railroad acquired the line in 1880 and later operated it under the Missouri-Pacific Railroad, which became part of Union Pacific in 1982. Following a period of decline and dormancy, the Rusk County Rural Rail District purchased the line to prevent abandonment. Blacklands Railroad began operations in 2010, as reported in Railfan & Railroad Magazine. Today, the 14-mile line remains active for freight, serving local industries with planned modernizations.
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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