Oregon Railroad and Navigation Co. - 1896 dated $500 Railway & Shipping Bond
Inv# RB7431 Bond
$500 Fractional Bond Scrip printed by American Bank Note Co., New York Litho. The Oregon Railroad and Navigation Company (OR&N) was a rail and steamboat transport company that operated a rail network of 1,143 miles (1,839 km) running east from Portland, Oregon, United States, to northeastern Oregon, northeastern Washington, and northern Idaho. It operated from 1896 as a consolidation of several smaller railroads. OR&N was initially operated as an independent carrier, but Union Pacific (UP) purchased a majority stake in the line in 1898. It became a subsidiary of UP titled the Oregon–Washington Railroad and Navigation Company in 1910. In 1936, Union Pacific formally absorbed the system, which became UP's gateway to the Pacific Northwest. Read more at https://en.wikipedia.org/wiki/Oregon_Railroad_and_Navigation_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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