Pair of Mohawk & Hudson Rail Road Co. Items - $1,000 Bond and Stock Transfer - 2 Pieces
Inv# RB7403 Bond
Unissued $1,000 6% Bond and Stock Transfer. The pair! The Mohawk and Hudson Railroad was the first railroad built in the state of New York and one of the earliest railroads in the United States. It earned its name because it connected the Mohawk River at Schenectady with the Hudson River at Albany. The railroad was conceived to provide Erie Canal passengers a faster way to bypass the winding Cohoes Falls via steam-powered trains. It was incorporated on April 17, 1826, as the Mohawk and Hudson Company and opened for public service on August 9, 1831.
On April 19, 1847, the company changed its name to the Albany and Schenectady Railroad. The railroad was later consolidated into the New York Central Railroad on May 17, 1853. On December 28, 1825, George William Featherstonhaugh, a resident of Duanesburg in Schenectady County, announced the formation of the Mohawk and Hudson Railroad Company in a newspaper notice. The intention was to create a route that would bypass the Erie Canal between Albany and Schenectady, reducing travel time from an entire day to under one hour. The Mohawk and Hudson became the first chartered railroad in New York State on April 17, 1826.
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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