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State of New York Elimination of Railroad Grade Crossings - dated 1940's-50's Railway Bond - Various Denominations

Inv# RB5120   Bond
State(s): New York
Years: 1940's-50's
Color: Blue-Black

Railroad Bond printed by Quayle & Son, New York. Various Denominations. NY State Coat of Arms. Vignette of eagle and two female figures standing on each side of a sunset scene. Rare!!! A level crossing is an intersection where a railway line crosses a road or path, or in rare situations an airport runway, at the same level, as opposed to the railway line crossing over or under using an overpass or tunnel. The term also applies when a light rail line with separate right-of-way or reserved track crosses a road in the same fashion. Other names include railway level crossing, railway crossing (chiefly international), grade crossing or railroad crossing (chiefly American), road through railroad, criss-cross, train crossing, and RXR (abbreviated). There are more than 100,000 level crossings in Europe and more than 200,000 in North America.

The history of level crossings depends on the location, but often early level crossings had a flagman in a nearby booth who would, on the approach of a train, wave a red flag or lantern to stop all traffic and clear the tracks. Gated crossings became commonplace in many areas, as they protected the railway from people trespassing and livestock, and they protected the users of the crossing when closed by the signalman/gateman. In the second quarter of the 20th century, manual or electrical closable gates that barricaded the roadway started to be introduced, intended to be a complete barrier against intrusion of any road traffic onto the railway. Automatic crossings are now commonplace in some countries as motor vehicles replaced horse-drawn vehicles and the need for animal protection diminished with time. Full, half or no barrier crossings superseded gated crossings, although crossings of older types can still be found in places. In rural regions with sparse traffic, the least expensive type of level crossing to operate is one without flagmen or gates, with only a warning sign posted. This type has been common across North America and in many developing countries. Read more at https://en.wikipedia.org/wiki/Level_crossing

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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: $30.00