Philadelphia Reading and New England Railroad - Railway Bond (Uncanceled)
Inv# RB5722 Bond
Pennsylvania
$1,000 Gold Uncanceled Bond. Two Great vignettes by American Bank Note Co., Phila. Coupons attached. The Reading Company (RDG) bought the CNE&W and Poughkeepsie Bridge Company from D&NE in January 1892, extending RDG's influence to New England via the Pennsylvania, Poughkeepsie & Boston Railroad. The two companies merged on August 1, 1892 to form the Philadelphia, Reading & New England Railroad (PR&NE). RDG proved unable to handle its new acquisitions, and PR&NE defaulted on its interest payments in May 1893. The final reorganization came on January 12, 1899 with the formation of the Central New England Railway (CNE). Read more at https://en.wikipedia.org/wiki/Central_New_England_Railway
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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