International Rail Road Co. of Texas - 1874 dated $1,000 Uncanceled Texas Railway Bond signed Twice by Galusha Grow
Inv# RB5738 Bond
$1,000 8% Bond signed by Galusha Aaran Grow once at front and once at back. Galusha Aaron Grow, renowned as a fearless and patriotic statesman during a critical period of the country’s history.
The International – Great Northern Railroad (I&GN) was a Texas-based railroad formed on September 30, 1873, through the merger of the International Railroad and the Houston and Great Northern Railroad. It was officially incorporated as the International & Great Northern Railroad Company. Initially, the I&GN operated a 177-mile (285 km) line from Hearne to Longview. At its peak, the railroad expanded to 1,106 miles (1,780 km) of track. The expansion moved southwest from Hearne, reaching Rockdale in 1874 and Austin by December 28, 1876. By 1880, the line extended to San Antonio, eventually reaching the U.S.-Mexican border town of Laredo on December 1, 1881. Like many railroads of its time, the I&GN faced financial struggles and went into receivership multiple times. In December 1880, Jay Gould gained control of the I&GN. Under his management, it was operated alongside the Missouri Pacific (MoPac) and the Texas and Pacific Railroad as part of an integrated system while retaining its separate corporate identities and seniority districts.
Galusha Aaron Grow (August 31, 1823 – March 31, 1907) was an American politician, lawyer, writer, and businessman who served as the 24th Speaker of the U.S. House of Representatives from 1861 to 1863. Initially elected to Congress as a Democrat in 1850, Grow shifted his allegiance to the newly formed Republican Party in the mid-1850s due to his opposition to the Democratic Party's efforts to expand slavery into the western territories. As Speaker of the 37th Congress, Grow presided over the House during the early years of the American Civil War. One of the significant legislative achievements of his tenure was the passage of the Homestead Act of 1862, which he strongly supported. Grow was defeated in his bid for reelection in 1862 and, for over a century, remained the last sitting Speaker of the House to lose his seat until Tom Foley's defeat in 1994.
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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