Chauncey Depew signed 1885 $1,000 Railroad Bond - West Shore Railroad AutographInv# AG1676 Bond
$1,000 4% Bond printed by American Bank Note Company. Portrait and biography included with bond. Signed by Chauncey Depew as president.
Chauncey Mitchell Depew (April 23, 1834 – April 5, 1928) was an American attorney, businessman, and Republican politician. He is best remembered for his two terms as United States Senator from New York and for his work for Cornelius Vanderbilt, as an attorney and as president of the New York Central Railroad System. Depew was born on April 23, 1834, to Isaac Depew (1800–69) and Martha Minot (Mitchell) Depew (1810–85).
In 1866, Depew became the attorney for New York & Harlem Railroad, owned by Cornelius Vanderbilt. Three years later, he took the same position for Vanderbilt's New York Central and Hudson River Railroad. Having earned recognition for his work with subsidiary companies, Depew became general counsel and director of the entire "Vanderbilt System" in 1876. He joined the executive board of the New York Central & Hudson River Railroad in 1882 and became its second vice president. In 1885, Depew was elected the railroad's president and served in that capacity until 1898 when he was succeeded by Samuel R. Callaway. Depew then became chairman of board of directors of New York Central Railroad Company until his death in 1928.
While Depew was primarily active in the Vanderbilt railroads, he held concurrent positions with many other railroads and companies. He was president of West Shore Railroad and served on the boards of directors for the New York and Harlem Railroad, the Chicago and North Western Railway, the Chicago, St. Paul, Minneapolis and Omaha Railway, the Cleveland, Cincinnati, Chicago and St. Louis Railroad, the Delaware and Hudson Railroad, the New Jersey Junction Railroad, the St. Lawrence and Adirondack Railroad, the Wallkill Valley Railroad, and the Canada Southern Railroad. Read more at https://en.wikipedia.org/wiki/Chauncey_Depew
The West Shore Railroad was the final name of a railroad that ran from Weehawken, New Jersey, which is across the Hudson River from New York City, north along the west shore of the river to Albany, New York, and then west to Buffalo. It was organized as a competitor to the New York Central and Hudson River Railroad, but was soon taken over by that company.
The first part of the line was built as the Saratoga and Hudson River Railroad, incorporated April 16, 1864, and opened in Spring 1866. After only about a year of independent operation, the line served as a branch of the New York Central Railroad (NYC), splitting at Athens Junction near Schenectady and running southeast and south along the west side of the Hudson River to Athens, New York. Early plans included acquiring the Saratoga and Schenectady Railroad as a northern extension. The Saratoga and Hudson River was bought and merged into the New York Central as their Athens Branch on September 9, 1867. Read more at https://en.wikipedia.org/wiki/West_Shore_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.