Skip to main content

Broadway Surface Railroad Co. - 1885 dated $1,000 New York City Railway Bond

Inv# RB5225A   Bond
Broadway Surface Railroad Co. - 1885 dated $1,000 New York City Railway Bond
State(s): New York
Years: 1885

$1,000 5% Bond. Great green NY revenue stamp attached. Important!!! Popular!!! The Broadway and Seventh Avenue Railroad opened a line from Lower Manhattan to Central Park in 1864. However, south of Union Square, tracks were not allowed in Broadway due to local opposition. Thus the route began in the trackage west of City Hall, jointly owned by the Sixth Avenue Railroad and Eighth Avenue Railroad, and used the one-way pair of Church Street and West Broadway to Canal Street and Greene Street and Wooster Street to 8th Street, north of which both directions used University Place to Union Square. North of Union Square, tracks were built in Broadway to north of Times Square, where it merged with the Broadway and Seventh Avenue Railroad's other line, along Seventh Avenue, to end at Seventh Avenue and 59th Street.

On May 8, 1884, Jacob Sharp, the owner of the Broadway and Seventh Avenue Railroad, incorporated the Broadway Surface Railroad to run along Broadway from Union Square south to the Bowling Green. It opened in 1885, and was leased to the Broadway and Seventh Avenue Railroad. A cable was installed on May 1, 1893, and the Lexington Avenue Line and Broadway and Columbus Avenue Line were also operated by cable as branches. The Broadway Line was electrified with conduit in May 1901.

The Broadway and Seventh Avenue Railroad was leased by the Houston, West Street and Pavonia Ferry Railroad on June 30, 1893, and the lessee merged with the Broadway Surface Railroad and South Ferry Railroad on November 29, 1893 to form the Metropolitan Street Railway. Buses were substituted for streetcars by the New York City Omnibus Corporation on March 6, 1936, as route number 6. That company changed its name to Fifth Avenue Coach Lines in 1956; the Manhattan and Bronx Surface Transit Operating Authority took over operations in 1962. Read more at https://en.wikipedia.org/wiki/M5_and_M55_buses

Read More

Read Less

Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $140.00