West Shore Railroad - BondInv# RB5678
$1,000 4% Bond. American Bank Note Co. Very Pretty!
WEST SHORE RAILROAD AND VANDERBILT
In 1881, the West Shore Rail Road had been planned as a link in a new cross-country line from New York to San Francisco, using the Nickel Plate Road, Chicago, Milwaukee and St. Paul Railway, Northern Pacific Railroad and Oregon Navigation Company. However, William Henry Vanderbilt of the New York Central had bought the Nickel Plate in 1882, killing that plan. The New York Central then proceeded to drive the New York, West Shore and Buffalo into bankruptcy. The Pennsylvania Railroad realized that the West Shore would make a great addition to their system, allowing them to penetrate deep into New York Central territory. At the same time, the New York Central was building the South Pennsylvania Railroad across southern Pennsylvania, the Pennsylvania Railroad's territory. The two railroads came to an agreement, where the New York Central would buy the WS and stop building the South Pennsylvania (sections of which were later used for the Pennsylvania Turnpike). The New York Central bought the New York, West Shore and Buffalo Railway on November 24, 1885 and reorganized their new acquisition as the West Shore Rail Road on December 5, leasing it for 475 years from January 1, 1886.
In many sections, the West Shore ran on a straighter path than the New York Central, and was used for through freight. Between Oneida and Utica, the West Shore followed the general line of the never-built Syracuse and Utica Direct Railroad, which had been merged into the New York Central.
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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