Commercial and Rail Road Bank - 1841 dated $2,505.50 Bond
Inv# BK1339 Bond
$2,505.50 Bond in which an A. Benson Jr. files a claim against the company for $2,505.50 owed to him two years prior, likely from the termination of a previous stock certificate. Uneven edges and some minor holes at bottom, otherwise very good. Very early and interesting!
The story of the century-old Vicksburg Route of the Illinois Central System constitutes one of the most colorful chapters in the history of Newton County. It is a story of heroic pioneering, persistent struggle of great aspirations, disasters and triumphs. During the great conflict between the North and South this historic line of railroad was the objective of the contending armies and the scene of many stirring battles. At the close of the struggle it was little more than a streak of blackened ruin and wreckage. The rails of the pioneer railroad were laid through Newton seventy-six years ago, but the history of the undertaking goes back almost to the beginning of the railway era. The first steam locomotive in the United States was Stephenson’s America, brought from England by Horatio Allen in 1829. It was only two years later, on December 19, 1831, that the Clinton & Vicksburg Route companies was incorporated by the State of Mississippi with authority to build a railroad thirty miles in length between Vicksburg and Clinton to replace the slow-moving oxen then used to transport most cotton to the river. A graphic description of conditions in that early day is thus stated in a contemporary journal: Some idea of the expense of this (ox-drawn) movement may be formed by those who have seen cotton coming over dreadful roads, up to the hub, dragged slowly along twenty, thirty or forty miles as we have seen it coming into Vicksburg, hauled by five yoke of oxen carrying 2,800 to 3,000 pounds, and so slowly that motion was scarcely perceptible. So many oxen perish in the yoke in winter and spring that it has been said, with some exaggeration, that you might walk on dead oxen all the way from Jackson to Vicksburg. The first spade of earth in the construction of the road was cast at Vicksburg in 1833. On December 25 of that year the Clinton & Vicksburg Railroad Company was succeeded by the Commercial and Railroad Bank of Vicksburg, which was chartered to build a railroad from Vicksburg to Jackson and conduct a banking business. Read more at https://www.meridianspeedway.net/history-of-the-av.html
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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