Kansas City, Mexico and Orient Railroad Co. (Uncanceled) - Bond
Inv# RS4027 Bond
Gold Uncanceled bond printed by American Bank Note Co., NY. Especially Nice! Rare!
The Kansas City, Mexico and Orient Railway, started in 1900 by American railroad entrepreneur Arthur Edward Stilwell, was the predecessor of the Chihuahua al Pacífico railroad in Mexico. It was intended to reach the Pacific Ocean at Topolobampo, Sinaloa.
The United States portion was incorporated in 1900 as the Kansas City, Mexico, and Orient Railway. It was completed between Wichita, Kansas, and Alpine, Texas. Grading took place between El Dorado and Bazaar, Kansas. Primary shops were first located in Fairview, Oklahoma. In 1910, the Fairview shops were destroyed by fire and the shops were then re-established in Wichita. The railroad was forced into bankruptcy in 1912, but its receiver, William T. Kemper, was to make a fortune when oil was discovered under its tracks. In 1914, it was reorganized as the KCM&O Railroad. Another reorganization in 1925 returned it to its original name. It was popularly called The Orient railroad.
At the end of 1925, KCM&O and KCM&O of Texas (the portions of interstate railroads in Texas were required to be under unique charters) together operated 859 miles of track over 738 miles of right of way; they reported a total of 330 million net ton-miles of revenue freight and 8 million passenger-miles. The KCM&O was acquired by the Atchison, Topeka and Santa Fe Railway in 1928, mainly to gain access to the West Texas oil fields. The Santa Fe then sold the Mexican portions. The railway reached Presidio in 1930 and the Presidio–Ojinaga International Rail Bridge was built.
Operating rights on the portion from San Angelo Junction (65 miles NEE of San Angelo) to Presidio (known as South Orient Rail Line) later were awarded to Texas Pacifico Transportation.
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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