On eBay Now...Chicago, Danville and Vincennes Railroad - Bond - Railroad Bonds For Sale
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Chicago, Danville and Vincennes Railroad - Bond - Railroad Bonds:
$323.00
$500 7% Gold Bond. Superb graphics by Snyder & Black, NY. 37 of 40 coupons remain at bottom of bond. Very Rare! The Chicago, Danville and Vincennes Railroad was a railroad company that served various communities along the eastern border of the U.S. state of Illinois in the 1870s. The original plan called for a line to connect Chicago with Lawrence County, Illinois (across the river from Vincennes, Indiana) via Danville and Paris; it ran from Chicago to Danville before it was consolidated into the Chicago and Eastern Illinois Railroad in 1877. The railroad was granted a charter in 1834, but the company was not begun until much later. In 1865, Chicago resident Joseph E. Young incorporated the company; the incorporation was approved by the Illinois legislature. In 1869, the first mortgage was issued, on a term of 40 years; it provided $2.5 million in bonds at an interest rate of seven percent. Construction began in 1869, and by 1871 a line was completed from Dolton (near Chicago) to Danville. Between these locations it passed through 31 stations and covered a distance of 131 miles (211km). It supported seven northbound and seven southbound trains each day; some carried freight and others carried passengers. Four of the passenger trains (two southbound and two northbound) only ran between Chicago and Blue Island, a distance of 20 miles (32km). Travel time for the entire route varied from 6 hours to 7 hours and 15 minutes, making an average speed of approximately 20 miles per hour (32km/h). The railroad was consolidated with several others in 1872, first with the Rossville and Indiana Railroad Company, then the Attica and Terre Haute Railroad Company, then the Western Railroad Company. In each case, the consolidated company maintained the name \"Chicago, Danville and Vincennes Railroad\". As a result of these consolidations, the company was enabled to build a coal branch to Brazil, Indiana in Clay County, through Item ordered may not be exact piece shown. All original and authentic.