Virginian Railway Co. - $1,000 Railroad Bond
Inv# RB7423 Bond
$1,000 3% Bond printed by American Bank Note Company. Several coupons remain. The Virginian Railway (reporting mark VGN) was a Class I railroad located in Virginia and West Virginia in the United States. The VGN was created to transport high quality "smokeless" bituminous coal from southern West Virginia to port at Hampton Roads.
Early in the 20th century, William Nelson Page, a civil engineer and coal mining manager, joined forces with a silent partner, industrialist financier Henry Huttleston Rogers (a principal of Standard Oil and one of the wealthiest men in the world), to develop the Deepwater Railway, a modest 85-mile long short line railroad to access untapped bituminous coal reserves in some of the most rugged sections of southern West Virginia. When Page was blocked by collusion of the bigger railroads, who refused to grant reasonable rates to interchange the coal traffic, he did not quit. As he continued building the original project, to provide their own link, using Rogers' resources and attorneys they quietly incorporated another intrastate railroad in Virginia, the Tidewater Railway. In this name, they secured the right-of-way needed all the way across Virginia to reach Hampton Roads, where a new coal pier was erected at Sewell's Point. Read more at https://en.wikipedia.org/wiki/Virginian_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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