Michigan Central Railroad $1000 bond 1927 (Michigan)

Nice large vignette of sheep herder and female agriculture figure flanking a framed steam train. $1000 denomination secured by mortgage of the Detroit and Bay City Railroad. Horizontal format. Issued and cancelled. Dated 1927.  Vertical fold from storage. Measuring approximately 13 x 8.5 inches. 

The Michigan Central Railroad was a historic American railroad operating from the 1840s to 1995, connecting the Great Lakes region (Michigan, Illinois, Indiana, Ontario) and becoming a key part of the New York Central System, famous for its grand Detroit station and beautiful depots in towns like Ann Arbor. It fostered regional commerce, linking cities and industries before its operations were absorbed, leaving behind historic buildings and a legacy tied to Detroit's industrial growth.

The Detroit & St. Joseph Railroad (D&StJ) was chartered in 1832, intended as an intrastate system to open the Territory of Michigan (statehood in 1837) from Detroit to Lake Michigan (St. Joseph). In 1846, the newly incorporated Michigan Central Railroad was formed, acquiring the D&StJ from the state for $2 million.

To reach Chicago, the Michigan Central acquired the small Joliet & Northern Indiana Railroad in 1851, which was then completed to Kensington, Illinois the following year.  To facilitate access into downtown Chicago, the MC utilized Illinois Central trackage rights.

Over the next 20 years the Michigan Central continued to grow and expand across its home state.  On October 10, 1881 it launched car ferry service across the Straits of Mackinac via the new Mackinac Transportation Company in conjunction with the Detroit, Mackinac & Marquette (Duluth, South Shore & Atlantic Railway/Soo Line) and Grand Rapids & Indiana (Pennsylvania Railroad).

After about 1867 the railroad was controlled by the New York Central Railroad, which later became part of Penn Central and then Conrail. In 1916 was merged into the New York Central System. After the 1998 Conrail breakup, Norfolk Southern Railway now owns much of the former Michigan Central trackage.

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