Chicago Terminal Transfer Railroad Co. PASS-CO Authenticated - Bond (Uncanceled)
Inv# RB5170A
Bond
$1,000 4% Gold Bond was payable in US Gold Coin. PASS-CO Authenticated! Uncanceled. Great graphics by American Bank Note Co. The terminal building pictured still exists. 85 or so coupons. Superb Condition!
In July 1897, a new company called the Chicago Terminal Transfer Railroad (CTT) bought the Chicago & Northern Pacific RR from the Wisconsin Central RR. While the Wisconsin Central RR (and successor Soo Line Railroad) no longer had its own direct connection to the city, it continued to use the line to access Grand Central Station until 1899, and between 1912 and 1965. In May 1897, the Chicago Terminal Transfer merged the Chicago and Calumet Terminal.
On January 6, 1910 the Baltimore & Ohio Chicago Terminal Railroad was created to purchase the CTT at foreclosure, giving B&O control of both the terminal railway system, as well as Grand Central Station.
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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