Boston and Albany Railroad Co. - 1913 dated $1,000 Railway Bond
Inv# RB5017 Bond
New York
$1,000 5% Railroad Bond printed by American Bank Note Company, New York. Great vignette of a harbor side scene with train & sailboats across top of bond & steam locomotive vignette at bottom center.
The Boston and Albany Railroad (reporting mark B&A) was a railroad connecting Boston, Massachusetts to Albany, New York, later becoming part of the New York Central Railroad system, Conrail, and CSX Transportation. The line is currently used by CSX for freight. Passenger service is provided on the line by Amtrak, as part of their Lake Shore Limited service, and by the MBTA Commuter Rail system, which owns the section east of Worcester and operates it as its Framingham/Worcester Line.
When the Erie Canal opened in 1825, New York City's advantageous water connection through the Hudson River threatened Boston's historical dominance as a trade center. Since the Berkshires made construction of a canal infeasible, Boston turned to the emerging railroad technology for a share of the freight to and from the Midwestern United States. The Boston and Worcester Railroad was chartered June 23, 1831 and construction began in August 1832. The line opened in sections: to West Newton on April 16, 1834; to Wellesley on July 3; to Ashland on September 20; to Westborough in November 1834; and the full length to Worcester on July 4, 1835. The original single-track line was double-tracked from Boston to Framingham in 1839, and on to Worcester by 1843. In 1843 the B&W introduced season passes to West Newton for $60, effectively introducing the concept of commuter rail. Read more at https://en.wikipedia.org/wiki/Boston_and_Albany_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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