Southern Railway Co. - $1,000 1898 dated Railroad Bond - Memphis Division
Inv# RB7531 Bond
$1,000 5% Gold Bond printed by American Bank Note Company, New York. Great train vignette! Rare! The Southern Railway (also known as Southern Railway Company; reporting mark SOU) was a class 1 railroad based in the Southern United States between 1894 and 1982, when it merged with the Norfolk and Western Railway (N&W) to form the Norfolk Southern Railway. The railroad was the product of nearly 150 predecessor lines that were combined, reorganized and recombined beginning in the 1830s, formally becoming the Southern Railway in 1894.
At the end of 1971, the Southern operated 6,026 miles (9,698 km) of railroad, not including its Class I subsidiaries Alabama Great Southern (528 miles or 850 km); Central of Georgia (1729 miles); Savannah & Atlanta (167 miles); Cincinnati, New Orleans and Texas Pacific Railway (415 miles); Georgia Southern & Florida (454 miles); and twelve Class II subsidiaries. That year, the Southern itself reported 26,111 million net ton-miles of revenue freight and 110 million passenger-miles. Alabama Great Southern reported 3,854 million net ton-miles of revenue freight and 11 million passenger-miles; Central of Georgia 3,595 and 17; Savannah & Atlanta 140 and 0; Cincinnati, New Orleans and Texas Pacific Railway 4906 and 0.3; and Georgia Southern & Florida 1,431 and 0.3. Read more at https://en.wikipedia.org/wiki/Southern_Railway_(U.S.)
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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