White Water Railroad Company - Unissued 1878 dated $20 Railway Bond Scrip
Inv# RB7485B Bond
$20 6% Bond Scrip. Rare Type. Unissued Bond. The Whitewater Valley Railroad is a heritage railroad in southeastern Indiana between Connersville and Metamora. The railroad is dedicated to the preservation and presentation of a 1950s era of branch line railroading. It is now operated by vintage diesel switchers and road switchers during most of the year. Steam operations vary from year to year. The most recent steam locomotive donated to the organization is New York Central B-10W 0-6-0 #6894. It is nearly identical to the last steam engines operated on the line.
The Whitewater River formed a natural trade route for Native Americans and for early settlers. In 1836 the new state of Indiana approved funds to build the Whitewater Canal, following the river from Lawrenceburg, Indiana, all the way to Hagerstown, Indiana, 76 miles (122 km). It was opened to Connersville, Indiana, in 1845. While improving trade for the area, it suffered from alternate droughts and floods, which carried away aqueducts and embankments. It was so damaged by floods in the later 1850s that residents petitioned the state to sell the right of way for a railroad. Read more at https://en.wikipedia.org/wiki/Whitewater_Valley_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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