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Derby Street Railway - 1894 dated $100 Connecticut Railroad Gold Unissued Bond

Inv# RB5605   Bond
State(s): Connecticut
Years: 1894
Color: Green and Black

$100 Green Unissued Gold Bond. All 40 coupons. Lithograph by Dennison & Brown, NY.

Connecticut Railway and Lighting Company operated as a streetcar and bus transit provider in the areas surrounding Bridgeport, Norwalk, Derby, New Britain, and Waterbury, Connecticut. Established in 1901 by the United Gas Improvement Company of Philadelphia, it was tasked with overseeing the streetcar services previously managed by the Connecticut Light and Power Company, which encompassed the Central Railway and Electric Company, Norwalk Street Railway, and Waterbury Traction Company. The newly created Connecticut Railway and Lighting Company subsequently acquired several other transit entities, including the Bridgeport Traction Company, Derby Street Railway, Milford Street Railway, Shelton Street Railway, Meriden, Southington and Compounce Tramway Company, and the Cheshire Street Railway. From 1906 to 1936, Connecticut Railway and Lighting was leased to the Consolidated Railway, which was then succeeded by the Connecticut Company. The streetcar services were ultimately terminated in 1937, as all routes transitioned to bus operations. Transit services persisted until 1972, when the remaining bus operations were halted and transferred to Connecticut Transit, with the exception of Bridgeport, where the Greater Bridgeport Transit District assumed control in 1975.

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $119.00