Consolidated Railway Co. - 1900's circa $10,000 Connecticut Unissued Railroad Bond
Inv# RB5301 Bond
Unissued $10,000 3 1/2% Gold Bond with superb graphics by American Bank Note, NY. Exceptional vignette of electric trolley racing a team of horses and carriage. Available in Burgundy, Brown or Green. Please specify color. The Connecticut Company was the primary electric street railway company in the U.S. state of Connecticut, operating both city and rural trolleys and freight service. It was controlled by the New York, New Haven and Hartford Railroad (New Haven), which also controlled most steam railroads in the state. After 1936, when one of its major leases was dissolved, it continued operating streetcars and, increasingly, buses in certain Connecticut cities until 1976, when its assets were purchased by the state government.
On September 29, 1902, the Worcester and Connecticut Eastern leased the two Massachusetts companies and acquired the property of the two Connecticut companies. Almost simultaneously the New Haven gained control of the line, which, after the completion of several segments in 1903, extended from Worcester south to Central Village, with branches in Connecticut from Elmville to East Killingly (where it connected with the Providence and Danielson Railway to Providence, Rhode Island) and Central Village to Moosup.
The New Haven used this new acquisition as an initial corporate shell for its electric subsidiaries, renaming it Consolidated Railway on May 18, 1904, and transferring the property of the Meriden Electric to it later that month and the stock of the Stamford Street Railroad to it in October. In the meantime, the New Haven bought control of the Fair Haven and Westville Railroad and conveyed its property to the Consolidated in late May. This company served the city of New Haven and surrounding areas, including intercity lines, in conjunction with the Connecticut Railway and Lighting Company, to Bridgeport (connecting at Woodmont) and Derby, the latter completed in late 1903. Read more at https://en.wikipedia.org/wiki/Connecticut_Company
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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