Yosemite Short Line Railway Co. - 1905 dated $100 California Railroad Bond (Uncanceled)
Inv# RB5208 Bond
$100 4 1/2% Sinking Fund Bond. Was payable in U.S. Gold Coin. Uncanceled. Text in English and French. At least 71 of 80 coupons. Scarce Popular State. Excellent Condition.
The Yosemite Short Line Railway was a narrow gauge railway measuring 2 feet 6 inches (762 mm) that was built in the Yosemite area of California. The intention was to create a railway spanning 60 miles (97 km) to cater to logging operations and tourists visiting Yosemite National Park. Construction began in 1905 but was halted due to the financial turmoil following the 1906 San Francisco earthquake, resulting in only 8.5 miles (14 km) being completed. The railway ceased operations by 1917, and its locomotive power was supplied by two Porter 0-4-0T steam locomotives.
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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