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Third Avenue Railway Co. - New York City - 1933 dated $1,000 Railroad Bond

Inv# RB7297   Bond
Third Avenue Railway Co. - New York City - 1933 dated $1,000 Railroad Bond
State(s): New York
Years: 1933
Color: Brown

$1,000 5% Gold Bond printed by Republic Bank Note Co., Pittsburgh, PA. The Third Avenue Railway System (TARS), founded 1852, was a streetcar system serving the New York City boroughs of Manhattan and the Bronx along with lower Westchester County. For a brief period of time, TARS also operated the Steinway Lines in Long Island City.

The origins of the Third Avenue Railway System can be traced back to a simple horsecar line operated by the Third Avenue Railroad Company between City Hall and 62nd Street in Manhattan in 1853. By the 1870s, routes had been extended as far north as 129th Street and across the length of 125th Street. At its peak, more than 1,700 horses were stabled by the railway to keep up with demand. By 1885, Third Avenue Railroad had opened its first cable car line on Amsterdam Avenue. The 125th Street and Third Avenue lines were converted to cable car operation by 1893. The lines were converted to electric operation in 1899. Because of a ban on overhead trolley wires in Manhattan, streetcars collected power from a conduit in between the rails, by means of a plow, a method also used in Washington, D.C., and London. Some cars were equipped with trolley poles for operation on lines outside Manhattan into the Bronx. In many cases the conduit was run in the former channel occupied by the propulsion cable. Read more at https://en.wikipedia.org/wiki/Third_Avenue_Railway

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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.
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