$119,000 Baltimore and Ohio Rail Road Equipment Trust Certificate - 1930's dated Railway Trust Certificate
Inv# HD1028 Bond
Ohio
$119,000 4% Bond printed by American Bank Note Company. Certificate #T14! Several cancellation holes.
The Baltimore and Ohio Railroad, identified by the reporting marks B&O and BO, holds the distinction of being the first common carrier railroad and the oldest railroad in the United States, with its inaugural section commencing operations in 1830. Merchants from Baltimore, a city that had gained some advantages from the early construction of the National Road, sought to maintain their competitive edge in trade with trans-Appalachian settlers against the backdrop of the newly completed Erie Canal, which served New York City. Additionally, there was a proposed canal in Pennsylvania intended to link Philadelphia and Pittsburgh, the Chesapeake and Ohio Canal that connected to the nation's capital, Washington, D.C. (though it never reached Ohio), and the James River Canal, which facilitated traffic towards Richmond and Norfolk, Virginia.
Initially, the B&O was entirely situated within Maryland, with its original line stretching from the port of Baltimore to Sandy Hook, which opened in 1834. At this juncture, it connected with Harper's Ferry via boat and subsequently by the Wager Bridge across the Potomac River into Virginia, as well as with the navigable Shenandoah River. Due to competition with the C&O canal for trade from the coal fields in western Maryland, the railroad was unable to utilize the C&O right-of-way west of Harpers Ferry. Consequently, to advance westward through the Appalachian Mountains, the B&O opted to construct the B & O Railroad Potomac River Crossing in 1837 at Harpers Ferry, Virginia (now West Virginia since 1863). The line progressed through Virginia to a location just west of the confluence of Patterson Creek and the North Branch Potomac River, where it re-entered Maryland to arrive at Cumberland in 1842, linking with the National Road, the primary route heading westward. It reached the Ohio River at Moundsville, Virginia in 1852, followed by Wheeling in 1853, where it established a terminus, and a few years later, in 1857, it also extended to Parkersburg, Virginia, situated below rapids that complicated navigation during certain times of the year.
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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