Morris and Essex Railroad Co. - 1900 dated $1,000 Railway Gold Mortgage Bond
Inv# RB5085 Bond$1,000 3 1/2% Railroad Bond printed by American Bank Note Company, New York. Was payable in 'US Gold Coin'. Superb train vignette. Great!!! Rare!!!
The Morris and Essex Railroad was a railroad across northern New Jersey, later part of the main line of the Delaware, Lackawanna and Western Railroad. The M&E was incorporated January 29, 1835, to build a line from Newark in Essex County west to and beyond Morristown in Morris County. The first section, from Newark west to Orange, opened on November 19, 1836. Under an agreement signed on October 21, the New Jersey Rail Road provided connecting service from Newark east to Jersey City via the Bergen Hill Cut. The original connection between the two lines was in downtown Newark; the M&E turned south on Broad Street to meet a branch of the NJRR at Market Street. Service to Paulus Hook in what is today Jersey City commenced on October 14, 1836 and passengers could transfer to the Jersey City Ferry and cross to lower Manhattan at the nearby ferry slips.
On January 1, 1838, the M&E was extended their route to Morristown. On October 29 of that year, an agreement was signed to move the NJRR connection to the foot of Centre Street (via the northeast side of Park Place, to the NJRR alignment along the Passaic River), and the track on Broad Street was removed. Through car service began August 1, 1843, with horse power used along the streets, between Broad Street station and the foot of Centre Street. Continuations opened west to Dover on July 31, 1848, Hackettstown in January 1854, and the full distance to Phillipsburg in 1866. A new alignment, including a bridge over the Passaic River, was built by the NJRR and opened on August 5, 1854, ending at East Newark Junction with the NJRR main line in Harrison. This eliminated the street running in downtown Newark; those tracks were removed the next year after a lawsuit was filed by Newark. Read more at https://en.wikipedia.org/wiki/Morris_and_Essex_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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