New Orleans City Railroad Co. - circa 1900's Railway Specimen Stock Certificate
Inv# SE1289 BondSpecimen Stock printed by American Bank Note Company, New York. Nice! Rare! Streetcars have played a crucial role in the public transportation system of New Orleans since the early 19th century. The St. Charles Avenue line, the longest streetcar line in the city, holds the distinction of being the oldest continuously operating street railway system globally. Currently, the New Orleans Regional Transit Authority (RTA) manages the streetcar operations. Presently, there are five active streetcar lines in New Orleans: the St. Charles Avenue Line, the UPT-Riverfront Line, the Canal Street Line (which consists of two branches), and the Rampart-Loyola Line. Notably, the St. Charles Avenue Line is the sole line that has maintained continuous operation throughout the history of streetcars in New Orleans, despite a service interruption following Hurricane Katrina in August 2005, with partial service resuming in December 2006. In contrast, all other lines were replaced by bus services between the late 1940s and early 1960s. While preservationists could not save the streetcars on Canal Street, they successfully advocated for the St. Charles Avenue Line to be designated as a historic landmark. In the latter part of the 20th century, there was a resurgence in favor of rail transit, leading to the introduction of a short Riverfront Line in 1988 and the restoration of service on Canal Street in 2004, four decades after its closure.
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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