Canada Southern Railway Co. - Bond
Inv# FB6336A Bond
The Canada Southern Railway (AAR reporting marks CASO) was a railroad in southern Ontario, Canada, founded on February 28, 1868 as the Erie and Niagara Extension Railway and later adopted the Canada Southern Railway name on December 24, 1869. In 1904 the railroad was leased to the Michigan Central Railroad for 99 years; in 1929 it was subleased to the New York Central Railroad for 999 years. Its successors Penn Central (formed 1968) and Conrail (formed 1976) later exercised control. On April 30, 1985, the Canadian National Railway and Canadian Pacific Railway jointly purchased the former CASO from Conrail in order to acquire the Michigan Central Railway Tunnel and the Suspension Bridge at Niagara Falls. The CASO rarely operated its own rolling stock after acquisition, and its reporting mark was abolished in 1977.
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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