South Pennsylvania Railroad Co. - $1,000 Railway Gold Bond
Inv# RB7422 Bond
$1,000 6% Gold Bond with large tape repair. Late in the 19th century, leaders of the New York Central Railroad (NYC) dreamed of building an east–west railroad across southern Pennsylvania through the Breezewood area to compete with the Pennsylvania Railroad (PRR). Over $10 million was spent and 26 lives lost when work on William H. Vanderbilt's planned South Pennsylvania Railroad project was halted in 1886. Control shifted to financier J.P. Morgan and PRR interests. The potentially competing South Pennsylvania Railroad was promptly abandoned and never completed, although much grading and tunneling work had been done. Read more at https://en.wikipedia.org/wiki/South_Pennsylvania_Railroad
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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