New York Central Railroad Co. - Unissued $50,000 Gold Bond
Inv# RB7188 Bond
$50,000 4% Unissued Gold Bond printed by American Bank Note Company, New York. The New York Central Railroad (reporting mark NYC) was a railroad primarily operating in the Great Lakes and Mid-Atlantic regions of the United States. The railroad primarily connected greater New York and Boston in the east with Chicago and St. Louis in the Midwest along with the intermediate cities of Albany, Buffalo, Cleveland, Cincinnati, Detroit, and Syracuse. New York Central was headquartered in New York City's New York Central Building, adjacent to its largest station, Grand Central Terminal.
The railroad was established in 1853, consolidating several existing railroad companies. In 1968 the NYC merged with its former rival, the Pennsylvania Railroad, to form Penn Central. Penn Central went bankrupt in 1970 and merged into Conrail in 1976. Conrail was broken up in 1998, and portions of its system were transferred to CSX and Norfolk Southern Railway, with CSX acquiring most of the old New York Central trackage.
Extensive trackage existed in the states of New York, Pennsylvania, Ohio, Michigan, Indiana, Illinois, Massachusetts and West Virginia plus additional trackage in the Canadian provinces of Ontario (Southwestern and Eastern Ontario) and Quebec (South of Montreal). At the end of 1925, the NYC operated 11,584 miles (18,643 km) of road and 26,395 miles (42,479 km) of track; at the end of 1967 the mileages were 9,696 miles (15,604 km) and 18,454 miles (29,699 km). Read more at https://en.wikipedia.org/wiki/New_York_Central_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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