Ogden Rapid Transit Co. - 1904 - $500 Railroad Bond
Inv# RB7502 Bond
$500 5% Bond printed by Broun-Green Co, N.Y. Most coupons remain.
On May 16, 1900, the Ogden Rapid Transit Company (O.R.T.) was incorporated and began its operations in Ogden, Utah. The main purpose for its establishment and organization was to acquire, operate, and improve the equipment and property of the Ogden Electric Railway Company (O.E.R.). The O.E.R. only operated two trolley cars at the time, with the remainder out of service. David Eccles was the main investor in the O.R.T. along with his business partner, M. S. Browning, adding it to a growing number of companies within the Eccles Corporation. They quickly updated and repaired the system, creating a modernized and quality mode of transportation for both passengers and freight in the Ogden area.
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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