New Jersey and New York Railroad Co. - 1892 dated Railway Gold Bond (Uncanceled)
Inv# RB5217 Bond
New York
$1,000 5% Gold Bond. Uncanceled. Superb graphics by Franklin Bank Note Co. Scarce! Excellent Condition. Available in Brown or Green. Please specify color. The New Jersey and New York Railroad (NJ&NY) was a railroad company that operated north from Rutherford, New Jersey, to Haverstraw, New York beginning in the mid-to-late 19th century. The line was originally chartered as the Hackensack and New York Railroad (H&NY) in 1856. The H&NY would eventually run from Rutherford to Hackensack, New Jersey. In 1866 under the leadership of David P. Patterson the company was chartered as the Hackensack and New York Extension Railroad and it extended its line north of Hackensack. It later reorganized as the New Jersey and New York Railroad. The line reached the town of Hillsdale, New Jersey, by 1870, the village of West Haverstraw by 1873, and the village of Haverstraw by 1887.
The NJ&NY was leased for 99 years by the Erie Railroad in 1896. The NJ&NY continued to exist as an Erie subsidiary until the 1960 merger that created the Erie Lackawanna Railroad. In 1976, the Erie Lackawanna was merged with several other railroads to create Conrail. In 1983, after several years under operation by Conrail, operations of the Pascack Valley Line were transferred to New Jersey Transit Rail Operations. The segments of the two former railroad lines in New York – north of Spring Valley to Haverstraw and north of Nanuet to New City – are no longer in service. In 1956, NJ&NY reported 4.4 million net ton-miles of revenue freight and 21 million passenger-miles on 39 miles of railroad. Read more at https://en.wikipedia.org/wiki/New_Jersey_and_New_York_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.
Ebay ID: labarre_galleries