Cayuga Lake Rail Road Uncanceled $1,000 Bond signed by Henry Wells - 1871 dated Autograph Railway Gold Bond
Inv# AG1533 Bond
$1,000, 7% Gold Bond. Signed by Henry Wells. Very, very important! Extremely Rare!
Originally chartered as the Ithaca and Owego Railroad in 1828, the Cayuga Lake Rail Road (CLRR) played a crucial role in New York’s early transportation network. By 1872, the line had expanded north from Ithaca along the eastern shores of Cayuga Lake, reaching Cayuga Junction. It eventually extended eastward to Auburn. Throughout the late 19th and early 20th centuries, the railroad facilitated the transportation of coal, agricultural goods, and passengers, often facing challenges due to severe flooding and track erosion caused by its proximity to the lake. Ownership eventually transitioned to the Lehigh Valley Railroad, leading to gradual abandonment in the mid-20th century.
Today, the legacy of the Cayuga Lake Rail Road lives on through modern heritage and freight operations. In 2025, the Finger Lakes Rail Experience revitalized the corridor, offering seasonal excursions like the Cayuga Leaf Limited. These excursions provide passengers with breathtaking views of the lake and surrounding countryside from restored 1940s-era cars. The inaugural season, which served over 12,000 passengers, was a resounding success, paving the way for an expanded 2026 season scheduled to commence in May. While tourist trains celebrate the area’s scenic beauty, portions of the original route remain active for freight, with Norfolk Southern utilizing the tracks to transport rock salt and other essential materials.
Henry Wells, born in Vermont in 1805 and raised in central New York, was a pioneering American businessman. He co-founded two of the world’s most enduring financial and shipping institutions: American Express and Wells Fargo.
Wells’ career began as a freight agent on the Erie Canal. However, he soon recognized the immense potential for specialized delivery services. In 1850, he merged several smaller firms to form the American Express Company, serving as its first president for nearly two decades. His vision for westward expansion led him to partner with William G. Fargo in 1852 to establish Wells Fargo & Co. This company provided banking and express mail services to the rapidly growing California gold mining communities.
Beyond his corporate achievements, Wells was a dedicated philanthropist. He focused heavily on education and overcoming personal challenges. Despite suffering from a lifelong stutter, which he once attempted to cure by attending specialized speech schools, he became a highly respected public figure and orator. In 1868, he fulfilled his lifelong dream by founding Wells College in Aurora, New York, as one of the first institutions of higher learning for women in the United States. Wells remained active in business and community affairs until his death in 1878 while traveling in Glasgow, Scotland.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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