New York and Putnam Railroad Co. aka Old Put - Gorgeous 1894 dated $1,000 Railway Bond
Inv# RB5758 Bond
$1,000, 4% Gold Bond printed by American Bank Note Company, New York. Gorgeous color and graphics! The New York and Putnam Railroad, nicknamed the Old Put, was a railroad line that operated between the Bronx and Brewster in New York State. It was in close proximity to the Hudson River Railroad and New York and Harlem Railroad. All three came under ownership of the New York Central system in 1894. The railroad was abandoned starting in 1958, and most of the former roadbed has been converted to rail trail use. The New York & Boston Railroad (NY&B) was chartered on May 21, 1869 to build a line from Highbridge on the Harlem River in New York northeast to Brewster. At Brewster connections were to be provided to the New York & Harlem Railroad for travel north to Albany, and to the Boston, Hartford & Erie Railroad to Boston.
The New York, Boston & Northern Railway (NYB&N) was formed on November 18, 1872, as a consolidation of the NY&B with two companies to the north — the Putnam & Dutchess Railroad (P&D) and Dutchess & Columbia Railroad (D&C). The P&D was a plan for a line to split from the New York and Boston at Carmel to a point midway along the D&C. The D&C opened in 1871, running from the Hudson River to the Connecticut border. The Clove Branch Railroad was to serve as a short connection between the two parts of the planned line. Read more at https://en.wikipedia.org/wiki/New_York_and_Putnam_Railroad
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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