Prosser Falls and Priest Rapids Canal Co. - 1894 dated $1,000 Gold Bond from Washington State
Inv# CN1012 Bond$1,000 Gold Bond. 28 of 30 coupons present. Printer-Louis Dentz, Litho. NY. Rare!
Prosser serves as the county seat of Benton County in Washington, United States. Located along the banks of the Yakima River, the city had a population of 5,714 according to the 2010 census. The area has a rich history, having been inhabited by Native Americans who utilized the river for fishing. They referred to the region as "Táptat" (with various spellings such as Tap-tat and Top tut), a name that translates to "long hair in front, short hair on the sides," alluding to a specific style of headdress. In 1879, Colonel William Farrand Prosser conducted the first survey of the area and subsequently claimed a homestead in 1882. The Northern Pacific Railroad extended its tracks through the region two years later. Colonel Prosser filed a town plat in 1885, and in 1886, he was elected as the Yakima County Auditor. He relocated to North Yakima to fulfill his responsibilities and never returned to the town he established.
Priest Rapids was a swift and narrow section of the Columbia River situated in central Washington. This area was submerged following the construction of the Priest Rapids Dam in the 1950s. Prior to the dam's creation, the river experienced a 20-foot (6 m) drop over a short distance. Priest Rapids comprised seven distinct cataracts along a 9-mile (14 km) stretch, with a total elevation drop of 72 feet (22 m). The name Priest Rapids was bestowed by Alexander Ross of the Pacific Fur Company in 1811, in honor of a native shaman. Ross documented his experience at the "strong and rocky rapid," where he encountered a man named Haquilaugh, which translates to "priest." Haquilaugh was a prominent leader of the Wanapum people, and it was in his honor that Ross named the rapids in English.
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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