Skip to main content

Rutland and Washington Rail Road Company $1,000 7% Bond signed by Erastus Corning

Inv# AG1138   Bond
Rutland and Washington Rail Road Company $1,000 7% Bond signed by Erastus Corning
State(s): New York
Vermont
Years: 1852

Erastus Corning (1794-1872), prominent in railroad development in the state of New York. He became the first President of the New York Central in 1853. He was four times elected Mayor of Albany and twice as a Democratic Representative in Congress. There is a story that when Lincoln was in New York in 1860 delivering a political address at Cooper Institute, he was offered by Corning the position of general counsel of the New York Central at an annual salary of $10,000. He obviously declined. This early 1852 Bond of the Rutland and Washington Railroad is neatly hole cancelled and has a bold clear signature at back signed as Trustee. Includes a nice portrait. Excellent Condition. Very Scarce! Available not signed by Corning with many holes.

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: $275.00