New York Central and Hudson River Railroad Co. Signed by E.V.W. Rossiter - 1892 dated $1,000 or $500 Bond
Inv# AG2346B Bond
Green $1,000 or Brown $500 4% Gold Bond signed by Edward Van Wyck Rossiter as treasurer. Printed by American Bank Note Company, New York. Similar to AG2346A except vertical format.
Edward Van Wyck Rossiter (1844-1910) President’s clerk for Hudson River Railroad; Treasurer’s office clerk for Hudson River Railroad 1860-67; cashier New York & Harlem Railroad 1867-77. Later treasurer of same company, June 1883 became treasurer and from November 1900 had been Vice President of New York Central and Hudson River Railroad, New York & Harlem Railroad as well as of almost all the lines affiliated with the New York Central Company, also Lincoln National Bank and Lincoln Safe Deposit Company.
The New York Central and Hudson River Railroad Company (NYC&HR), a legendary American railway, was formed on November 1, 1869, through the consolidation of the New York Central Railroad and the Hudson River Railroad. Under the visionary leadership of industrialist Cornelius Vanderbilt, this merger created a continuous “water level route” that connected New York City to Albany and Buffalo. The company’s reach eventually expanded to encompass Midwest hubs like Chicago and St. Louis.
The NYC&HR became an integral part of American industrialization, famously operating out of the magnificent Grand Central Terminal in Manhattan. It set global standards with its four-track mainlines and high-speed passenger services.
During its golden age, the railroad was celebrated for its elite express trains, particularly the 20th Century Limited, often referred to as “the most famous train in the world” for its remarkable speed and luxurious amenities. The company also achieved historic milestones, such as the reported achievement of the No. 999 steam locomotive becoming the first land vehicle to exceed 100 mph in 1893.
However, as the mid-20th century witnessed the rise of interstate highways and commercial airlines, the company’s fortunes began to decline. In 1914, it officially consolidated into the broader New York Central Railroad Company. This consolidation eventually led to the merger of the NYC&HR with the Pennsylvania Railroad in 1968, forming the ill-fated Penn Central, which marked the end of its era as an independent titan.
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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