Lake Shore and Michigan Southern Railway - 1897 dated $1,000 Railroad Gold Bond
Inv# RB5074 Bond
$1,000 3 1/2% Railroad Bond printed by American Bank Note Company, New York. Portrait of Wm K Vanderbilt with a steam train on each side. Superb graphics. Scarce!!
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. 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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