Interborough Consolidated Corporation - Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company, New York. The Interurban Street Railway Company was incorporated on November 25, 1901, to take over the bankrupt North Mount Vernon Street Railway. The Interurban leased the overcapitalized and water-logged Metropolitan on February 14, 1902, and the newly formed Metropolitan Securities Company acquired the stock of the Interurban, which itself took over the stock of many of the Metropolitan's subsidiaries. The Interurban's name was changed to the New York City Railway Company on February 10, 1904. The Metropolitan leased the Central Crosstown Railroad, which it had owned - and through it the Christopher and Tenth Street Railroad - on February 8, 1904. On November 1, 1905, when the Fort George and Eleventh Avenue Railroad - controlled by the Metropolitan since its incorporation in 1898 - opened its line on 145th Street, it entered into an operating agreement with the New York City Railway.

The New York City Interborough Railway began operating street railways in the Bronx and Upper Manhattan on May 31, 1906, feeding the stations of the Interborough Rapid Transit Company, which controlled it. Prior to this, in January 1906, the Interborough and Metropolitan agreed to consolidate their holdings, and the Interborough-Metropolitan Company was incorporated on January 24 and acquired a majority of the stock of the Interborough Rapid Transit Company, Metropolitan Street Railway, and Metropolitan Securities Company. The Panic of 1907 toppled the system, and on September 24, 1907, the New York City Railway entered receivership.

After entering receivership, New York City Railway's leases and operating agreements were canceled and their properties were turned over to the receivers of the subsidiaries in 1908:

• Third Avenue Railroad and its large system on January 12
• Metropolitan Street Railway on August 1
• Central Park, North and East River Railroad in August,
• Twenty-eighth and Twenty-ninth Streets Crosstown Railroad on October 1,
• Second Avenue Railroad in 1910.
• The Fulton Street Railroad was abandoned on June 1, 1908.

The remaining Metropolitan Street Railway lines were operated by the receivers until January 1, 1912, when they were turned over to the Interborough Consolidated Corporation-controlled. Read more at https://en.wikipedia.org/wiki/New_York_Railways_Company

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