Washington and Chesapeake Beach Railway - $100 Maryland Railroad Gold Bond Uncanceled - George Washington Vignette 1893 - Uncancelled - 6 coupons attached on top.
In 1891, Baltimore lawyer (and later Maryland governor) Edwin Warfield and others organized the Washington & Chesapeake Beach Railway to connect Washington, D.C., with 3,000 acres (12 km2) of virgin bay front property at Fishing Creek where they would build a resort. ThRare, vintage 1893 and 1901 First Mortgage Gold Coupon bonds issued by the Washington & Chesapeake Beach Railway Company are highly sought-after historical collectibles. Because the railroad was largely unsuccessful financially, these uncanceled physical bonds—often featuring ornate George Washington vignettes and locomotive designs—are now historical artifacts and are regularly sold online.
The railroad itself was incorporated in 1896 to connect Washington, D.C., with a resort in Chesapeake Beach, MD. Backed by Otto Mears, the line was built to bring passengers to the coast in just 60 to 90 minutes. However, following financial struggles, the company defaulted on its $1,000,000 bond issue in 1900 and eventually ceased operations.eir Chesapeake Beach, Maryland, resort was to be a vacation spot for the rich and middle class alike, with two grand hotels, a boardwalk, racetrack, and amusements. A pier would accommodate Chesapeake Bay excursion steamers from Baltimore, Annapolis, and Eastern Shore points. In 1894, the W&CBR was granted a charter to incorporate the Town of Chesapeake Beach. Its grand schemes never bore fruit, and the railway was placed in receivership in 1895.
The Chesapeake Beach Railway (CBR), now defunct, was an American railroad of southern Maryland and Washington, D.C., built in the 19th century. The CBR ran 27.629 miles from Washington, D.C., on tracks laid by the Southern Maryland Railroad and its own single track through Maryland farm country to a resort at Chesapeake Beach.[1] The construction of the railway was overseen by Otto Mears, a Colorado railroad builder, who planned a shoreline resort with railroad service from Washington and Baltimore. It served Washington and Chesapeake Beach for almost 35 years, but closed amid the Great Depression and the rise of the automobile. The last train left the station on April 15, 1935. Parts of the right-of-way are now used for roads and a future rail trail.
