$1,000 Bond City of New York dated 1960's-70's - For Rapid Transit Railroad Purposes - Indian Vignette

$1,000 Red-Orange Bond. Printed by American Bank Note Company. Rapid transit, also referred to as mass rapid transit (MRT), heavy rail, metro, subway, tube, or underground, represents a form of high-capacity public transportation predominantly located in urban settings. In contrast to buses or trams, rapid transit systems consist of electric railways that function on a dedicated right-of-way, inaccessible to pedestrians or any other vehicles, and are frequently grade-separated through tunnels or elevated railways. Contemporary rapid transit services operate on specific lines connecting stations, typically utilizing electric multiple units on rail tracks. However, certain systems may employ guided rubber tires, magnetic levitation (maglev), or monorail technology.

The stations are generally equipped with high platforms, designed without steps inside the trains, necessitating specially designed trains to reduce the gap between the train and the platform. These systems are usually integrated with other forms of public transportation and are often managed by the same public transport authorities. Nevertheless, some rapid transit systems feature at-grade intersections between a rapid transit line and a roadway or between two rapid transit lines. The inaugural rapid transit system in the world was the partially underground Metropolitan Railway, which commenced operations as a conventional railway in 1863 and is now part of the London Underground. In 1868, New York City launched the elevated West Side and Yonkers Patent Railway, which was initially a cable-hauled line powered by static steam engines.