Birmingham Sheffield and Tennessee River Railway Co. - $1,000 Bond
Inv# RB7370 Bond
Tennessee
$1,000 5% Gold Bond printed by Homer Lee Bank Note Co., N.Y. Most coupons remain. Bright vibrant green!
Excerpt from Wikipedia: On date of valuation it owned and operated, wholly within the State of Alabama, 105.748 miles of single-track, standard-gauge, steam railroad in two separate sections, one of which extends from Sheffield to Parrish, 94.876 miles, and the other from Riverton Junction to Riverton, 10.872 miles. It also owns 51.353 miles of yard tracks, sidings, and coalmine spurs. In addition the carrier jointly owns and uses with other carriers 0.745 mile of yard tracks and sidings. The property was acquired by purchase.
The immediate predecessor of the carrier, from which it acquired all of its property, was the Birmingham, Sheffield and Tennessee River Railway Company, which was incorporated February 26, 1889. The property of this company, as related in the text, after foreclosure sale, was conveyed to the purchasers on November 29, 1895, who, on the same date, conveyed the property to the carrier. The Birmingham, Sheffield and Tennessee River Railway Company was preceded by the Sheffield & Birmingham Coal, Iron & Railway Company, incorporated on February 28, 1887, in order to effect a consolidation of the Sheffield and Birmingham Railway[sic] Company and the Alabama & Tennessee Coal & Iron Company, incorporated, respectively, on March 28, 1884, and May 23, 1882. Of the last two companies, the first named was incorporated under the name of The Birmingham & Tennessee River Railroad Company, its name being subsequently changed to Sheffield and Birmingham Railroad Company.
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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