Port Royal and Augusta Railway - 1882 dated $500 Georgia Railroad Bond
Inv# RB5330 Bond
$500 Bond. Nice Graphics by Franklin Bank Note, NY. A Popular State. The Port Royal and Augusta Railway was a South Carolina railroad that existed in the latter half of the 19th century. The Port Royal Railroad Company was chartered in 1856 and the line was completed in 1870. In 1873, the Georgia Railroad provided financial assistance to the Port Royal Railroad Company, but Port Royal Railroad Company defaulted in November 1873 and the railroad was sold to the Georgia Railroad under foreclosure in June 1878, with the Union Trust Company of New York as Trustees. The Georgia Railroad reorganized it under the name Port Royal and Augusta Railway, and the company expanded.
In 1881 Georgia Railroad leased its rail lines for 99 years to Colonel William M. Wadley, who assigned half of the interest to Louisville and Nashville Railroad and the other half to Central Rail Road and Banking Company of Georgia. That same year, Central Rail Road and Banking Company of Georgia acquired controlling stock in Port Royal and Augusta Railway. Read more at https://en.wikipedia.org/wiki/Port_Royal_and_Augusta_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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