Skip to main content

Olean, Oswayo and Eastern Railroad Co. - 1894 dated $100 Railway Gold Bond - Pennsylvania

Inv# RB5693A   Bond
State(s): Pennsylvania
Years: 1894
Color: Brown and Black

$100 6% Gold Bond. American Bank Note Co. Serious hole cancellations. Rare! The New York & Pennsylvania Railroad (NYP) was a single track, shortline railroad running on a route described as east—west in the company's timetables, but closer to an arc: almost due south along Bennett's Creek from Canisteo through the hamlets of Greenwood, Rexville, and Whitesville, New York, southwest through Genesee, Pennsylvania to Oswayo, Pennsylvania, then northwest through Shinglehouse, Pennsylvania to Ceres, New York.? In Canisteo trains made "a close connection" with "electric cars for Hornellsville". Trains connected in Canisteo with the Erie Railroad, with service to Buffalo and New York City; in Genesee with the Buffalo and Susquehanna Railroad, with service to Wellsville, New York, and in Ceres with the Pittsburg, Shawmutt, and Northern Railroad, with service to Olean, New York, and points west. While the railroad did not serve Hornell, occasionally it did run special trains, using the Erie tracks. Its route was primarily in southwestern Steuben County, New York, and northern Potter County, Pennsylvania, with small portions in Allegany County, New York, and McKean County, Pennsylvania. Total track was 56.13 miles (90.33 km) main line and 7.69 miles (12.38 km) of sidings.

The line was built in segments. The first section built was from Oswayo east to Genesee. The company was at that time the Olean, Oswayo, and Eastern Railway Company, incorporated in 1892. Service began in 1893. The line merged with the New York and Pennsylvania Railway Company, incorporated in 1895, extending service in 1896 northeastward to its junction with the Erie Railroad on the north side of Canisteo, New York. After a merger in 1904 with the Ceres and Olean Railway (incorporated 1901), service northwestward to Ceres, New York, began. Also in 1894, the line was given its final name. Read more at https://en.wikipedia.org/wiki/New_York_%26_Pennsylvania_Railroad

Read More

Read Less

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: $40.00