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New York and Harlem Railroad Co. Issued to W.W. Astor - Railway Bond

Inv# AG2420   Bond
New York and Harlem Railroad Co. Issued to W.W. Astor - Railway Bond
State(s): New York
Years: 1877
Various Denomination Bonds issued to W.W. Astor but not signed.
William Waldorf Astor (1848-1919), 1st Viscount. Capitalist, Journalist, born in N.Y. City. Great-grandson of John Jacob Astor. British Financier and Journalist. U.S. minister at Rome. Proprietor of the Pall Mall Gazette and Magazine. Succeeded his father John Jacob as head of the family with a personal fortune of $100,000,000. Beautiful $5,000 bond dated 1890 boldly issued to William in a nice Script. (Not signed) Excellent Condition. Rare!

Its ancestor, the Rock Island and La Salle Railroad Company, was incorporated in Illinois on February 27, 1847, and an amended charter was approved on February 7, 1851, as the Chicago and Rock Island Railroad. Construction began October 1, 1851, in Chicago, and the first train was operated on October 10, 1852, between Chicago and Joliet. Construction continued on through La Salle, and Rock Island was reached on February 22, 1854, becoming the first railroad to connect Chicago with the Mississippi River. In Iowa, the C&RI's incorporators created (on February 5, 1853) the Mississippi and Missouri Railroad Company, to run from Davenport to Council Bluffs, and on November 20, 1855, the first train to operate in Iowa steamed from Davenport to Muscatine. The Mississippi river bridge between Rock Island and Davenport was completed on April 22, 1856. In 1857, Abraham Lincoln represented the Rock Island in an important lawsuit regarding bridges over navigable rivers. The suit had been brought by the owner of a steamboat, which was destroyed by fire after running into the Mississippi river bridge. Lincoln argued that not only was the steamboat at fault in striking the bridge but that bridges across navigable rivers were to the advantage of the country. The M&M was acquired by the C&RI on July 9, 1866, to form the Chicago, Rock Island and Pacific Railroad Company. The railroad expanded through construction and acquisitions in the following decades.

The New York and Harlem Railroad (now the Metro-North Railroad's Harlem Line) was one of the first railroads in the United States, and was the world's first street railway. Designed by John Stephenson, it was opened in stages between 1832 and 1852 between Lower Manhattan to and beyond Harlem. Horses initially pulled railway carriages, followed by a conversion to steam engines, then one to battery-powered Julien electric traction cars. In 1907, the then leaseholders of the line, New York City Railway, a streetcar operator, went into receivership. Following a further receivership in 1932, the New York Railways Corporation converted the line to bus operation. The Murray Hill Tunnel now carries a lane of road traffic, but not the buses.

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Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $50.00