Chesapeake and Ohio Railway - 1952 dated $1,000 Railroad Third Equipment Trust Bond
Inv# RB5215 Bond
Maryland
New York
Ohio
Virginia
$1,000 2 7/8% Bond. Columbian Bank Note, 2 rows of hole cancellations otherwise nice. Scarce! The Chesapeake and Ohio Railway (reporting marks C&O, CO) was a Class I railroad formed in 1869 in Virginia from several smaller Virginia railroads began in the 19th century. Led by industrialist Collis P. Huntington, it reached from Virginia's capital city of Richmond to the Ohio River by 1873, where the railroad town (and later city) of Huntington, West Virginia, was named for him.
Tapping the coal reserves of West Virginia, the C&O's Peninsula Extension to new coal piers on the harbor of Hampton Roads resulted in the creation of the new City of Newport News. Coal revenues also led the forging of a rail link to the Midwest, eventually reaching Columbus, Cincinnati and Toledo in Ohio and Chicago, Illinois.
By the early 1960s the C&O was headquartered in Cleveland, Ohio, USA. In 1972, under the leadership of Cyrus Eaton, it became part of the Chessie System, along with the Baltimore and Ohio and Western Maryland Railway. The Chessie System was later combined with the Seaboard Coast Line and Louisville and Nashville, both the primary components of the Family Lines System, to become a key portion of CSX Transportation (CSXT) in the 1980s. Read more at https://en.wikipedia.org/wiki/Chesapeake_and_Ohio_Railway
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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