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Paterson and Passaic Horse Railroad Co. - $500 Bond

Inv# RB8001   Bond
Paterson and Passaic Horse Railroad Co. - $500 Bond
State(s): New Jersey
Years: 1880
$500 7% Bond. Coupons 3 through 20 attached. In 1868 the "Paterson and Passaic Horse-Railroad Company" was chartered, and proceeded to build a track from Main and Van Houten Streets to Cedar Lawn, the primary object of the road being to make the cemetery accessible to the city. Tracks were laid through Main, Market, and Willis Streets and Vreeland Avenue, and so to the cemetery. Another route was through Market Street direct from the Erie Railway. The road was also extended through Trenton Avenue and Crooks Avenue, to bring Lake View into easy communication with Paterson. Another spur ran through Main Street southerly to Barclay Street. Both of the foregoing horse-railroad companies succumbed to the panic of 1873, and were reorganized. 

Condition: Very Good

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.