New York Central & Hudson River Railroad - 1910-70's dated $1,000 Railway Gold Bond - Vignette of Cornelius Vanderbilt II
Inv# RB5088 Bond
$1,000 Railroad Bond. Portrait of Cornelius Vanderbilt, grandson of Commodore Cornelius Vanderbilt & son of William H. Vanderbilt. Great vignette of steam locomotive.
The New York Central Railroad (reporting mark NYC) was a major railroad network serving the Great Lakes and Mid-Atlantic regions of the United States. It connected the metropolitan areas of New York City and Boston in the east with Chicago and St. Louis in the Midwest, linking key cities such as Albany, Buffalo, Cleveland, Cincinnati, Detroit, and Syracuse. The railroad was headquartered in the New York Central Building in New York City, adjacent to its prominent station, Grand Central Terminal.
Founded in 1853 through the consolidation of several existing railroads, the New York Central Railroad merged with its rival, the Pennsylvania Railroad, in 1968 to form Penn Central. Following Penn Central's bankruptcy in 1970, the company was merged into Conrail in 1976. Conrail was subsequently broken up in 1998, with portions of its system transferred to CSX and Norfolk Southern Railway, with CSX acquiring most of the former New York Central trackage.
At its peak in 1925, the New York Central Railroad operated 11,584 miles (18,643 km) of road and 26,395 miles (42,479 km) of track. By the end of 1967, these figures had reduced to 9,696 miles (15,604 km) of road and 18,454 miles (29,699 km) of track. The railroad's extensive network included trackage in New York, Pennsylvania, Ohio, Michigan, Indiana, Illinois, Massachusetts, and West Virginia, as well as additional lines in the Canadian provinces of Ontario and Quebec.
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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