Saturday, February 6, 2010

Collectible Galveston, Houston & Henderson RR Co. Bond

The railroad operated by the Galveston, Houston and Henderson Railroad Company, hereinafter called the carrier, consisted principally of a single-track, steam railroad, located in southeastern Texas, extending from Houston to Galveston. The wholly owned property included 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 were connected by means of a concrete causeway with approaches about 2 miles in length across Galveston Bay which in part was jointly owned and used by the carrier, The Galveston, Harrisburg and San Antonio Railway Company, and the Gulf, Colorado and Santa Fe Railway Company.

This company granted 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, Tx.

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.

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.
State(s): New York
Years: Oct. 8, 1857
Condition: Excellent. Price on request. For more information call George LaBarre at 1-800-717-9529.

George H. LaBarre Galleries - Collectible Stocks and Bonds.

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