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New York State Realty and Terminal Co. - 1922 dated $1,000 5% Gold Specimen Bond

Inv# SE2365   Specimen Bond
New York State Realty and Terminal Co. - 1922 dated $1,000 5% Gold Specimen Bond
State(s): New York
Color: Blue

$1,000 5% Specimen Bond printed by American Bank Note Company. Most coupons remain. Paper split through several coupons. Terminal City, also known as the Grand Central Zone, is an early 20th century commercial and office development in Midtown Manhattan, New York City. The space was developed atop the former Grand Central Station railyard, after the New York Central Railroad decided to rebuild the station into Grand Central Terminal, and reshape the railyard into a below-ground train shed, allowing roads and skyscrapers to be built atop it.

Planning for the development began long before the terminal was completed. In 1903, the New York Central Railroad created a derivative, the New York State Realty and Terminal Company, to oversee construction above Grand Central's rail yards. The New Haven Railroad joined the venture later on. One early proposed name for this area was "Pershing Square", a name that was ultimately applied to the southern side of Grand Central Terminal. The blocks on the north side of the terminal were later dubbed "Terminal City" or the "Grand Central Zone".

By 1906, news of the plans for Grand Central was already boosting the values of nearby properties. In conjunction with this project, the segment of Park Avenue above Grand Central's rail yards received a landscaped median and was widened to 140 feet (43 m). By the time the terminal opened in 1913, the blocks surrounding it were each valued at $2 million to $3 million. Terminal City soon became Manhattan's most desirable commercial and office district. From 1904 to 1926, land values along Park Avenue doubled, and land values in the Terminal City area increased 244%. A 1920 New York Times article said that the "development of the Grand Central property has in many respects surpassed original expectations. With its hotels, office buildings, apartments and underground streets it not only is a wonderful railroad terminal, but also a great civic centre." Read more at https://en.wikipedia.org/wiki/Terminal_City_(Manhattan)

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Condition: E.F. with minor flaw

Stock and Bond Specimens are made and usually retained by a printer as a record of the contract with a client, generally with manuscript contract notes such as the quantity printed. Specimens are sometimes produced for use by the printing company's sales team as examples of the firm’s products. These are usually marked "Specimen" and have no serial numbers.

Item ordered may not be exact piece shown. All original and authentic.
Price: $105.00