Washington Central Railrway Co. - $1,000 Northern Pacific Archive BondInv# NP1006A Bond
Unissued $1,000 Bond printed by Franklin-Lee Bank Note Co, N.Y. Organized in 1898 to take control of the assets of the bankrupt Central Washington Railroad, the company operated from Cheney to Coulee City, Washington and operated under the control of the Northern Pacific Railway Company.
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.