1894 Kansas City Northwestern Railroad bond certificate - Missouri Pacific

Description

The Kansas City Northwestern Railroad (KCNW) was a 160-mile line from Kansas City, Kansas to Beatrice, Nebraska., with a branch to Leavenworth, Kansas. It was built during the late 1880s, a time of tremendous optimism about railroads. The railroad went into receivership shortly after its completion and drew the attention of financier Jay Gould. Ownership transferred to officers of the Gould-controlled Missouri Pacific (MP), although it continued to operate separately. Its northern terminus moved from Beatrice to tiny nearby Virginia, Nebraska. The MP spun off the rarely profitable Kansas City Northwestern to its bondholders in 1917. Its financial situation deteriorated, and the line ceased operations in 1919. A small segment of its trackage remained in operation in Kansas City, Kansas until the early 2000's; the rest was earlier abandoned. For auction is a "5% Mortgage Gold Bond" certificate from the KCNW. It is dated January 1, 1894 and was due January 1, 1933; coupon payments were to be made twice each year, on January 1st and July 1st. The bond was in the amount of ,000 and is both hand-signed and sealed. It has an interesting vignette of a steam engine. Attached is a US Internal Revenue documentary stamp. Attached to the bond are 34 bond payment coupons, dated from July 1916 to January 1933.
1894 Kansas City Northwestern Railroad bond certificate - Missouri Pacific
1894 Kansas City Northwestern Railroad bond certificate - Missouri Pacific
Click images to enlarge
Description
The
Kansas City Northwestern Railroad (KCNW)
was a
160-mile line from Kansas City, Kansas to Beatrice, Nebraska
., with a
branch to Leavenworth, Kansas
. It was
built during the late 1880s
, a time of tremendous optimism about railroads. The railroad
went into receivership shortly after its completion
and drew the attention of financier Jay Gould.
Ownership transferred to officers of the Gould-controlled Missouri Pacific (MP)
, although it continued to operate separately. Its northern terminus moved from Beatrice to tiny nearby Virginia, Nebraska. The MP spun off the rarely profitable
Kansas City Northwestern
to its bondholders in 1917. Its financial situation deteriorated, and the
line ceased operations in 1919
. A small segment of its trackage remained in operation in Kansas City, Kansas until the early 2000's; the rest was earlier abandoned.
For auction is a
"5% Mortgage Gold Bond" certificate
from the KCNW. It is
dated January 1, 1894
and was
due January 1, 1933
; coupon payments were to be made twice each year, on January 1st and July 1st. The bond was in the
amount of ,000
and is both
hand-signed and sealed
. It has an interesting
vignette of a steam engine
. Attached is a US Internal Revenue
documentary stamp
.
This is a large document. It measures appx 15 x 10 1/4 inches and is printed on typical stock/bond security paper. Attached to the bond are
34 bond payment coupons
, dated from July 1916 to January 1933. The bond is in
very good condition
, with no rips or tears. All writing/markings are from its issuance and use. It has the customary cancellation punch holes.
A great addition to the collection of the MP, Kansas or mid-western railfan.
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