Lake Shore and Michigan Southern Railway - 1960's-70's dated $1,000 Railroad Bond
Inv# RB5078 Bond
$1,000 3 1/2% Railroad Gold Bond printed by American Bank Note Company, New York. Portrait of William K. Vanderbilt at top center and great train scene vignette at the bottom center. Nice!!!
The Lake Shore and Michigan Southern Railway, established in 1833 and sometimes referred to as the Lake Shore, was a major part of the New York Central Railroad's Water Level Route from Buffalo, New York, to Chicago, Illinois, primarily along the south shore of Lake Erie (in New York, Pennsylvania and Ohio) and across northern Indiana. The line's trackage is still used as a major rail transportation corridor and hosts Amtrak passenger trains, with the ownership in 1998 split at Cleveland between CSX to the east, and Norfolk Southern in the west.
On April 22, 1833, the Erie and Kalamazoo Railroad was chartered in the Territory of Michigan to run from the former Port Lawrence, Michigan (now Toledo, Ohio), near Lake Erie, northwest to Adrian on the River Raisin. The Toledo War soon gave about one-third of the route to the state of Ohio. Trains commenced operating, pulled by horses, on November 2, 1836; the horses were replaced by a newly arrived steam locomotive, Adrian No. 1, in August 1837.
The Buffalo and Mississippi Railroad was chartered in Indiana on February 6, 1835, to run from Buffalo, New York, to the Mississippi River. The name was changed February 6, 1837, to the Northern Indiana Railroad, which would run from the eastern border of Indiana west to Michigan City on Lake Michigan. Some grading between Michigan City and La Porte was done in 1838, but money ran out. Read more at https://en.wikipedia.org/wiki/Lake_Shore_and_Michigan_Southern_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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