Plymouth, Kankakee and Pacific Railroad Co. with PASS-CO Authentication - 1871 dated $1,000 Railway Gold Bond (Uncanceled)
Inv# RB5110A
Bond
Indiana
$1,000 7% Railroad Bond. PASS-CO Authenticated! Uncanceled. Was payable in gold coin. Superb!!! Rare!! John Edgar Thomson signs this bond as Trustee. This railroad operated from 1870 to 1881 and then became part of the Indiana, Illinois and Iowa Railroad.
The Chicago, Indiana and Southern Railroad (CI&S) was a railroad that operated in Illinois and Indiana during the early 20th century. Formed in 1906 through the consolidation of the Indiana, Illinois and Iowa Railroad and the Indiana Harbor Railroad, the CI&S also owned the capital stock of the Danville and Indiana Harbor Railroad. The new railroad was wholly owned by the Lake Shore and Michigan Southern Railway and the Michigan Central Railroad, both subsidiaries of the New York Central system.
John Edgar Thomson (February 10, 1808 – May 27, 1874) was a prominent American civil engineer and industrialist, best known for his leadership of the Pennsylvania Railroad (PRR) from 1852 until his death in 1874. Under Thomson's leadership, the Pennsylvania Railroad became the largest business enterprise in the world and a model for technological and managerial innovation. Beginning as the railroad's first Chief Engineer, Thomson advanced to become its third President.
Thomson's approach to leadership was characterized by his sober, technical, methodical, and non-ideological personality, which significantly influenced the company's direction. The Pennsylvania Railroad became known for its conservative financial management and steady growth, avoiding unnecessary risks while expanding its operations. During his tenure, the PRR grew to become the largest railroad in the world, with 6,000 miles of track.
The railroad was noted for its high-quality construction, reliable financial dividends, and continuous improvements in equipment and technology. Notably, Thomson led technological advances, such as the shift from wood to coal as the primary locomotive fuel, and introduced innovative management techniques that helped oversee a large and complex organization. His leadership helped set the Pennsylvania Railroad apart as a leader in rail development in the mid-19th century.
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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