Northwestern Pennsylvania Railway Co. - 1911 dated $1,000 Railroad Gold Bond
Inv# RB7328 Bond
$1,000 5% Gold Bond printed by Republic Bank Note Company, Pittsburgh, PA. Most coupons remain. The Western New York and Pennsylvania Railway was a railroad that operated in the U.S. states of New York and Pennsylvania. Incorporated in 1887 as the Western New York and Pennsylvania Railroad from the reorganization of the Buffalo, New York, and Philadelphia, and reorganized in 1895 as the Western New York and Pennsylvania Railway, this American transportation system was acquired and leased by the Pennsylvania Railroad in 1900 and merged into the Penndel Company in 1955.
The route that the line followed from Emporium, Pennsylvania across the state line to Olean, Hinsdale, Cuba, Belfast, and Rochester was laid, from Belfast north, on the bed of the abandoned Genesee Valley Canal. A house of Italianate design was purchased on Main Street West at Trowbridge Street and converted into the Rochester station.
The 1895 to 1899 period of this rail system's operations saw revenue inadequate to pay the bond interest; these financial problems were contemporaneous with the Pennsylvania's need to expand into western New York. Moreover, this expansion did not raise competitive issues with the Pennsy's principal rival, the New York Central. Thus, on August 1, 1900, the WNY&PRY signed an agreement with the PRR under which the latter operated the former. Although the WNY&PRY did not generate much profit in this arrangement, it did improve matters for the Allegheny Valley and the Philadelphia and Erie roads; so the net result was satisfactory to the Pennsylvania. Read more at https://en.wikipedia.org/wiki/Western_New_York_and_Pennsylvania_Railway_(1895%E2%80%931955)
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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