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Pine Creek Railway Co. Bond signed by William Kissam Vanderbilt and Chauncey M. Depew - Autograph Railroad $1,000 Bond

Inv# AG1156   Bond
Denomination: $1,000
State(s): Pennsylvania
Years: 1885
Color: Brown

This gorgeous but relatively common $1000 1885 bond is quite scarce with signatures of William K. Vanderbilt and Chauncey Depew untouched by the hole cancellations. These two signatures are perfect!! Not to be confused with examples that show cancellations in the signatures. Excellent Condition.

William Kissam Vanderbilt I (December 12, 1849 – July 22, 1920) was an American heir, businessman, philanthropist and horse breeder. Born into the Vanderbilt family, he managed his family railroad investments. Chauncey M. Depew (1834-1928), Lawyer, Railway President. Member N.Y. Legislature, N.Y. Secretary of State, Appointed first U.S. Minister to Japan. Depew resigned to become attorney and legislative contact man for Commodore Cornelius Vanderbilt's Railroads. Rising steadily in the Vanderbilt system, he was president of the New York Central 1885-98. Elected U.S. Senator, Republican, from New York in 1899, he served until 1911. A charming man and an accomplished raconteur, he was widely influential in his day.

Chauncey Mitchell Depew (April 23, 1834 – April 5, 1928) was an American attorney, businessman, and Republican politician. He is best remembered for his two terms as United States Senator from New York and for his work for Cornelius Vanderbilt, as an attorney and as president of the New York Central Railroad System.

Depew was born on April 23, 1834, to Isaac Depew (1800–69) and Martha Minot (Mitchell) Depew (1810–85). Depew's father was a merchant and farmer who pioneered river transportation between Peekskill and New York and was descended from François DuPuy, a French Huguenot who purchased land from natives at the present site of Peekskill. Through his mother, Depew was descended from Rev. Josiah Sherman, who served as a chaplain with rank of captain in the Revolutionary War and who was the brother of American founding father Roger Sherman and Rev. Charles Chauncey, the second president of Harvard College.

The Jersey Shore, Pine Creek and Buffalo Railway was a railroad built in the early 1880s to give the New York Central and Hudson River Railroad access to the coal regions around Clearfield, Pennsylvania, United States. It was originally planned as part of a connecting line between the East Coast of the United States and Buffalo, New York.

The railroad was incorporated on February 17, 1870 to run from the vicinity of Williamsport to Jersey Shore, up Pine Creek and down the Allegheny River to Port Allegany, as part of a route to Buffalo. While it was organized under a new charter, this represented a continuation of the Jersey Shore, Pine Creek and State Line Railroad project; that corporation had made surveys up Pine Creek with the aim of connecting with another railroad on the northern border of the state, possibly extending as far west as McKean County to do so. Sobieski Ross assumed the presidency of the company and began pushing grading from Jersey Shore towards Coudersport.

Magee and the NYC were not particularly interested in the remainder of the route to the west of Ansonia. He sold the roadbed from Coudersport to Port Allegany to a local group, which incorporated in 1882 as the Coudersport and Port Allegany Railroad and opened a line on the old grade between the two towns in its name in 1882. The JSPC&B continued construction on the route from Newberry to Stokesdale Junction, which ran through the spectacular Pine Creek Gorge (also known as the Grand Canyon of Pennsylvania) below Ansonia. The new line began regular service on June 4, 1883 and was opened over its whole length on July 1, 1883. The new line was not directly operated by the New York Central; rather, on December 18, 1882, it was leased to the Fall Brook Coal Company from the date of completion (officially June 30, 1883) for twenty years. The company's name was changed to the Pine Creek Railway on February 6, 1884.

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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: $250.00