New York and Harlem Rail Road - Railway Stock Certificate - New York Railroad
Inv# RS1138 Stock
Railroad Stock. Steam train, sailor and dog head used on 1860's American Express stocks. Nice!!! The New York and Harlem Railroad (now the Metro-North Railroad's Harlem Line) was one of the first railroads in the United States, and was the world's first street railway. Designed by John Stephenson, it was opened in stages between 1832 and 1852 between Lower Manhattan to and beyond Harlem. Horses initially pulled railway carriages, followed by a conversion to steam engines, then on to battery-powered Julien electric traction cars. In 1907, the then leaseholders of the line, New York City Railway, a streetcar operator, went into receivership. Following a further receivership in 1932, the New York Railways Corporation converted the line to bus operation. The Murray Hill Tunnel now carries a lane of road traffic, but not the buses.
The line became part of the New York Central Railroad system with trackage rights granted to the New York, New Haven and Hartford Railroad into Manhattan. It is now part of the Metro-North Railroad system, and the only Manhattan trackage of that system. As of 2017, Metro-North operates commuter passenger service from Grand Central Terminal, via Southeast (change from electric to diesel power), to Wassaic. The trackless right-of-way from Wassaic to Chatham is being converted to the Harlem Valley Rail Trail.
The New York and Harlem Railroad was first built from the original Grand Central Terminal on 23rd Street in New York City to suburban Harlem. Opposition to the charter was voiced by steamboat proprietors, whose service was successfully competed against by the new railroad. It was extended a further 125 miles northward, reaching Chatham, New York in 1852. When the railroad was extended further, it provided a rail route for people and commerce northward to Albany, Boston, and other towns in Vermont and Canada. The completion of the Harlem Valley Railroad also resulted in the availability of products transported by rail directly to New York City, rather than depending on river transport via Poughkeepsie. Read more at https://en.wikipedia.org/wiki/New_York_and_Harlem_Railroad
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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