Cleveland Short Line Railway Co. - $1,000 Railroad Gold Bond
Inv# RB5624 Bond
$1,000 4 /2% Gold Bond printed by American Bank Note Co., NY. The Cleveland Short Line Railway is a freight bypass around southern Cleveland, Ohio, in the United States. A quasi-independent railroad organized by major shareholders of the Lake Shore and Michigan Southern Railway, the shortline was intended to allow the Lake Shore and Michigan Southern to bypass the congested railroads in downtown Cleveland. The Cleveland Short Line has had a succession of owners, and is currently part of CSX Transportation.
The Cleveland Short Line Railway was chartered November 24, 1902. The incorporators, who were major shareholders in the Lake Shore and Michigan Southern Railway (LS&MS), intended to construct a circumferential railroad from the LS&MS main line on the border between the Riverside and Bellaire-Puritas neighborhoods of Cleveland (an area known to railroads as "Rockport") to the LS&MS rail yard in Collinwood, Ohio. Read more at https://en.wikipedia.org/wiki/Cleveland_Short_Line_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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