New York Central and Hudson River Railroad Co. - 1924 dated $50,000 Railway Bond
Inv# RB7468 Bond
$50,000 purple 4% Bond printed by American Bank Note Company, New York. Large denomination and great color!
In 1867, Cornelius Vanderbilt acquired control of the Albany to Buffalo-running New York Central Railroad, with the help of maneuverings related to the Hudson River Bridge in Albany. On November 1, 1869, he merged the railroad with his Hudson River Railroad to form the New York Central and Hudson River Railroad. This extended the system south from Albany along the east bank of the Hudson River to New York City, with the leased Troy and Greenbush Railroad running from Albany north to Troy.
Vanderbilt's other lines were operated as part of the railroad included the New York and Harlem Railroad, Lake Shore and Michigan Southern Railway, Canada Southern Railway, and Michigan Central Railroad.
The Spuyten Duyvil and Port Morris Railroad was chartered in 1869 and opened in 1871, providing a route on the north side of the Harlem River for trains along the Hudson River to head southeast to the New York and Harlem Railroad. Trains could head toward Grand Central Depot, built by NYC and opened in 1871, or to the freight facilities at Port Morris. From opening, it was leased by the NYC. Read more at https://en.wikipedia.org/wiki/New_York_Central_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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