New York, Pittsburgh and Chicago Railway Co. - 1881 dated $500 Railroad Bond

$500 6% Gold Uncanceled Bond. All 40 coupons present. Printer-Jordan Stationary Co., NY. Large size measures 17 1/4" x 22 1/4" with coupons. (30 shown). This railroad was part of the Pittsburgh and Lake Erie Rail System as well as the Pennsylvania Rail System.

The Pittsburgh and Lake Erie Railroad (P≤ reporting mark PLE), also known as the "Little Giant", was formed on May 11, 1875. Company headquarters were located in Pittsburgh, Pennsylvania. The line connected Pittsburgh in the east with Youngstown, Ohio in the Haselton neighborhood in the west and Connellsville, Pennsylvania to the east. It did not reach Lake Erie (at Ashtabula, Ohio) until the formation of Conrail in 1976. The P&LE was known as the "Little Giant" since the tonnage that it moved was out of proportion to its route mileage. While it operated around one tenth of one percent of the nation's railroad miles, it hauled around one percent of its tonnage. This was largely because the P&LE served the steel mills of the greater Pittsburgh area, which consumed and shipped vast amounts of materials. It was a specialized railroad deriving much of its revenue from coal, coke, iron ore, limestone, and steel. The eventual closure of the steel mills led to the end of the P&LE as an independent line in 1992. Read more at https://en.wikipedia.org/wiki/Pittsburgh_and_Lake_Erie_Railroad

The Pennsylvania Railroad (reporting mark PRR), legal name The Pennsylvania Railroad Company, also known as the "Pennsy", was an American Class I railroad that was established in 1846 and headquartered in Philadelphia. It was named for the commonwealth in which it was established. At its peak in 1882, the Pennsylvania Railroad was the largest railroad (by traffic and revenue), the largest transportation enterprise, and the largest corporation in the world. Read more at https://en.wikipedia.org/wiki/Pennsylvania_Railroad

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