Wabash Pittsburgh Terminal Railway Co. - 1904 dated Railroad Gold Bond
Inv# RB7133 Bond
$1,000 4% Gold Bond. Almost 2 pages of coupons remain. The original Wabash Pittsburgh Terminal Railway built several massive engineering works, including the Wabash Terminal in downtown Pittsburgh, damaged by two fires in 1946 and demolished in 1953. The Wabash Bridge over the Monongahela River into Pittsburgh was torn down in 1948, and on December 27, 2004, the Wabash Tunnel just southwest of the bridge opened as a high occupancy vehicle roadway through Mount Washington. As of January 2020 the two piers of the long-gone Wabash Bridge remain standing.
The line also had a branch to West End, Pennsylvania, that was abandoned in 2011, and a branch to West Mifflin, Pennsylvania, known as the Mifflin Branch. And it also has a small industrial branch located near Belle Vernon, Pennsylvania. At the end of 1960 P&WV operated 132 mi (212 km) of road on 223 mi (359 km) of track; that year it reported 439 million net ton-miles of revenue freight. Read more at https://en.wikipedia.org/wiki/Pittsburgh_and_West_Virginia_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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