Dated the fourth day of March in 1871, this bond was issued by the Borough of Saint Peter in order to raise money to finance the construction of the Winona & Saint Peter Railroad. The value of the bond at maturity was five hundreds dollars. The railroad crossed the Minnesota River and entered Nicollet County near the site of the St. Peter State Hospital in May of 1871. The railroad eventually extended through St. Peter, Traverse, Oshawa, Nicollet, and Courtland in Nicollet County before it crossed the Minnesota River into Brown County.