Lackawanna and Wyoming Valley Railroad Co. - 1928 dated $1,000 Railway Gold Bond (Uncanceled)
Inv# RB7214 Bond
$1,000 6% Uncanceled Gold Bond printed by American Bank Note Company. Rare! The Lackawanna & Wyoming Valley Railroad, more commonly known as the Laurel Line, was a Pennsylvania third rail electric interurban streetcar line which operated commuter train service from 1903 to 1952, and freight service until 1976. Its main line ran from Scranton to Wilkes-Barre. The line was originally owned and built by Westinghouse, Church, Kerr & Company, a subsidiary of The Westinghouse Electric & Manufacturing Company. The Westinghouse group also owned the Grand Rapids, Grand Haven & Muskegon Railway, which was under construction in the same time period. Westinghouse interests controlled the railroad until 1914.
Electrification was decommissioned in 1953, as diesel operations began. It was purchased by the Delaware, Lackawanna and Western Railroad in 1957, but operated as an independent subsidiary under it and the Erie Lackawanna until its inclusion in Conrail in 1976. Sections of the line operate today for both freight and tourists under local county ownership, with talk of future commuter expansion. Read more at https://en.wikipedia.org/wiki/Lackawanna_and_Wyoming_Valley_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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