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Market Street Railway Co. - Unissued Set of 3 California Railroad Bonds - Extremely Rare & Great History

Inv# RB7443   Bond
State(s): California
Years: 192-

Set of 3 different colored 5% Mortgage Gold Bonds. Unissued but signed. The Market Street Railway Company was a commercial streetcar and bus operator in San Francisco. The company was named after the famous Market Street of that city, which formed the core of its transportation network. Over the years, the company was also known as the Market Street Railroad Company, the Market Street Cable Railway Company and the United Railroads of San Francisco. Once the largest transit operator in the city, the company folded in 1944 and its assets and services were acquired by the city-owned San Francisco Municipal Railway. Many of the former routes continue to exist into the 2020s, but served by buses.

The company should not be mistaken for the current Market Street Railway, which is named after its predecessor but is actually a legally unconnected non-profit support group for San Francisco's heritage streetcar lines. The franchise for what would become the Market Street Railway was granted in 1857 to Thomas Hayes. The line was the first horsecar line to open in San Francisco, opened on July 4, 1860, as the Market Street Railroad Company. A few years later, the line was converted to steam power utilizing steam dummy locomotives pulling a trailer car. Four Portland gauge tank locomotives were built by San Francisco's Albion Foundry. Locomotives #1 and #4 were 24 feet (7.3 m) long with engine, baggage and passenger compartments driven by the front wheel only 0-2-2T. Locomotives #2 and #3 were 18-foot (5.5 m) 0-4-0Ts with a baggage compartment. Both types pulled 40-foot (12 m) double-truck trailers with seating for 64 passengers. Baldwin Locomotive Works built two 0-4-0T steam dummies (C/N 5004 & 5009) in 1880 to operate over the standard-gauge railway extension from Valencia Street to Castro Street until 1888. Read more at https://en.wikipedia.org/wiki/Market_Street_Railway_(transit_operator)

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Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $143.00