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 2 ft 6 in (762 mm) narrow gauge railway constructed in the Yosemite region of California. The plan was to construct a railway 60 miles (97 km) long, serving logging interests and tourists visiting the Yosemite National Park. Construction commenced in 1905 but construction was abandoned due to the financial crisis caused by the 1906 San Francisco earthquake, with only 8.5 miles (14 km) constructed. The railway was abandoned by 1917. Locomotive power was provided by two Porter 0-4-0T steam locomotives. Read more at https://en.wikipedia.org/wiki/Yosemite_Short_Line_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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