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West Side and Yonkers Railway Co. - 1880's dated New York Railroad Bond - Various Denominations

Inv# RB7268   Bond
State(s): New York
Years: 1880

$23,000 or $357,000 6% First Mortgage Bond. Very Rare! The IRT Ninth Avenue Line, often called the Ninth Avenue Elevated or Ninth Avenue El, was the first elevated railway in New York City. It opened on July 3, 1868 as the West Side and Yonkers Patent Railway, as an experimental single-track cable-powered elevated railway from Battery Place, at the south end of Manhattan Island, northward up Greenwich Street to Cortlandt Street. It ceased operation on June 11, 1940, after it was replaced by the IND Eighth Avenue Line which had opened in 1932.

The last section in use, over the Harlem River, was known as the Polo Grounds Shuttle, and closed on August 31, 1958. This portion used a now-removed swing bridge called the Putnam Bridge, and went through a still-extant tunnel with two partially underground stations.

On April 20, 1866, the West Side and Yonkers Patent Railway Company was formed by Charles T. Harvey and eventually was awarded the approval to begin construction of an elevated line operating on Greenwich Street, then Ninth Avenue from Battery Place to 30th Street. His company had been chartered with a subscribed capital of $100,000, to build a 25-mile (40 km) elevated railroad from the southern extremity of the city northward its length and thence to the village of Yonkers. Read more at https://en.wikipedia.org/wiki/IRT_Ninth_Avenue_Line

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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: $139.00