Beautifully engraved RARE Uncancelled Gold Bond from the New York Central Railroad Company
issued in 1913. This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of the New York Central 8404 train. This item is hand signed by the company's officers and is over 99 years old. 61 coupons attached on top not shown in scan. This is the first time we have seen this bond uncancelled and believe it to be quite scarce.
The New York Central Railroad Company
Organized in 1853, the New York Central Railroad Company revolutionized transportation in the United States. It provided dependable service, cheaply moving goods and people between Albany and Buffalo, controlling access to the convenient low grade, water level route from New York City to the Great Lakes and the American West.
During the same period, Commodore Cornelius Vanderbilt, who had made a fortune in steamships, turned his attention toward building a complementary system of railroads connecting New York City with the American West. Vanderbilt gradually bought controlling interests in northeastern railroads, in 1863 becoming president of the New York and Harlem Railroad (started in 1832, reached Chatham in 1852), in 1865 of the Hudson River Railroad (started in 1847, reached Albany in 1851) and in 1867 of the New York Central. The three roads were combined in 1869 to become the New York Central and Hudson River Railroad.
Under William H. Vanderbilt’s leadership the New York Central and Hudson River Railroad Co. reached Chicago when an interest was obtained in the Lake Shore and Michigan Southern going from Buffalo to Chicago, by way of Erie, Cleveland and Toledo. The NYC&HRR also used the Michigan Central, which ran to Detroit and then to Chicago. An arrangement with the Big Four gave the company connections from Cleveland to Columbus, Cincinnati, Indianapolis and St. Louis.
In 1885 the New York Central took over the West Shore Railroad, which had been built to parallel it. Pittsburgh was entered over the Pittsburgh and Lake Erie. The Boston and Albany, used for many years as a connection to Boston, came under control by lease in 1900. In 1914 a consolidation called the New York Central combined the New York Central and Hudson River and the Lake Shore and Michigan Southern and a number of smaller roads into the New York Central Lines. In 1930 the Michigan Central and Big Four were added by lease making the New York Central System one of more than 11,000 miles.
History from Encyberpedia and
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