Baltimore and Ohio Railroad Co. - Various Denominations Bond
Inv# RB7397 Bond
Ohio
$2,000 Blue or Various denominations Green 4 1/2% Bond printed by American Bank Note Company.
The Baltimore and Ohio Railroad (reporting mark BO) was the first common carrier railroad and the oldest railroad in the United States with its first section opening in 1830. Merchants from Baltimore, which had benefited to some extent from the construction of the National Road early in the century, wanted to do business with settlers crossing the Appalachian Mountains. The railroad faced competition from several existing and proposed enterprises, including the Albany-Schenectady Turnpike, built in 1797, the Erie Canal, which opened in 1825, and the Chesapeake and Ohio Canal. At first, the B&O was located entirely in the state of Maryland; its original line extending from the port of Baltimore west to Sandy Hook, Maryland, opened in 1834. There it connected with Harper's Ferry, first by boat, then by the Wager Bridge, across the Potomac River into Virginia, and also with the navigable Shenandoah River.
Because of competition with the C&O Canal for trade with coal fields in western Maryland, the railroad could not use the C&O right-of-way west of Harpers Ferry. To continue westward through the Appalachian Mountains, the B&O built the B & O Railroad Potomac River Crossing (1837) at Harpers Ferry, Virginia (since 1863, West Virginia). The line continued through Virginia to a point just west of the junction of Patterson Creek and the North Branch Potomac River, where it crossed back into Maryland to reach Cumberland (1842), connecting with the National Road, the main route westward. It reached the Ohio River at Moundsville, Virginia (1852), Wheeling (1853), where it built a terminus, and in 1857 to Parkersburg, Virginia, below rapids which made navigation difficult during parts of the year. It proved crucial to Union success during the American Civil War, which caused considerable damage to the system. After the war, the B&O consolidated several feeder lines in Virginia and West Virginia, and expanded westward into Ohio, Indiana and Illinois. B&O advertising later carried the motto: "Linking 13 Great States with the Nation." Read more at https://en.wikipedia.org/wiki/Baltimore_and_Ohio_Railroad
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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