Galveston, Houston and Henderson Railroad - Part Three

It is particularly interesting to note that most of these bonds have been bought up by speculators. As a result, they are now extremely rare. The railroad operated by the Galveston, Houston and Henderson Railroad Company, hereinafter called the carrier, consists principally of a single-track, steam railroad, located in southeastern Texas, extending from Houston to Galveston.

The wholly owned property consists of that portion of the main line projecting from Houston to the beginning of the joint causeway zone at Virginia Point and from the end of the joint causeway zone to Thirty-third Street on Galveston Island, aggregating 46.527 miles of road. The separated sections are connected by means of a concrete causeway with approaches about 2 miles in length across Galveston Bay which in part is jointly owned and used by the carrier, The Galveston, Harrisburg and San Antonio Railway Company, and the Gulf, Colorado and Santa Fe Railway Company. Located within the joint causeway zone are 2.539 undivided miles of road jointly owned with these same carriers.

This company grants to The Missouri, Kansas & Texas Railway Company of Texas and the International and Great Northern Railway Company the joint use of its tracks and facilities between Houston and Galveston, Tex. On the other hand, it uses under agreements, passenger and freight terminals of other carriers at Houston and Galvestion. The carrier wholly owns 125.800 miles of all tracks, all of which it uses. It also wholly uses but does not own 0.378 mile of all tracks owned by an industry, jointly owns and uses with other carriers 7.668 undivided miles of all tracks, and jointly uses but does not own an undivided interest in 0.110 mile of all tracks.

The property of the carrier was operated by its own organization from December 1, 1882, to March 6, 1883; from the latter date to December 22, 1895, it was operated by the International and Great Northern Railroad Company under an operating agreement. During the period from December 23, 1895, to December 31, 1917, it was operated by its own organization. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation. As of date of valuation no separation has been made between the corporate accounts and those of the United States Railroad Administration.

The carrier was organized December 1, 1882, by Russell Sage and Jay Gould and associates under the original charter granted to the Galveston, Houston and Henderson Railroad Company (of 1853), for the purpose of acquiring the property of the Galveston, Houston and Henderson Railroad Company (of 1871). $100 Bond printed by John F. Trow.

Condition: Excellent. PRICE ON REQUEST, call George at 1-800-717-9529.

For more information visit our web site, http://www.glabarre.com, or call George LaBarre at 1-800-717-9529.

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