Lackawanna and Wyoming Valley Railway Co. - 1960 dated Railroad Bond
Inv# RB5072 Bond
Railroad Bond. Various Denominations. Male with sword and skyline in background. Rare!!! Available in Red or Blue. Please specify color. The Lackawanna & Wyoming Valley Railroad, more commonly known as the Laurel Line, was a Pennsylvania third rail electric interurban streetcar line which operated commuter train service from 1903 to 1952, and freight service until 1976. Its main line ran from Scranton to Wilkes-Barre. The line was originally owned and built by Westinghouse, Church, Kerr & Company, a subsidiary of The Westinghouse Electric & Manufacturing Company. The Westinghouse group also owned the Grand Rapids, Grand Haven & Muskegon Railway, which was under construction in the same time period. Westinghouse interests controlled the railroad until 1914.
Electrification was decommissioned in 1953, as diesel operations began. It was purchased by the Delaware, Lackawanna & Western Railroad in 1957, but operated as an independent subsidiary under it and the Erie Lackawanna until its inclusion in Conrail in 1976. Sections of the line operate today for both freight and tourists under local county ownership, with talk of future commuter expansion. The railroad's main line ran from Scranton to Wilkes-Barre. Other cities served included Dunmore and Pittston.
At its peak, the line carried as many as 4.2 million passengers a year, but following World War II use declined dramatically. In 1964, the Central Scranton Expressway was built over a portion of L&WV right-of-way along Roaring Brook in Scranton. Interstate 81 construction paralleled the north-south route in the 1960s and today the four-lane highway is overtaxed with heavy trucks and cars, local traffic between Wilkes-Barre and Scranton and a deteriorating structure, leaving county planners wishing the L&WV system was retained in its entirety. Read more at https://en.wikipedia.org/wiki/Lackawanna_and_Wyoming_Valley_Railroad
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.
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