New York Connecting Railroad Co. - Unissued Railroad Bond
Inv# RB7501 Bond
Unissued 2 7/8% Bond printed by American Bank Note Company.
The New York Connecting Railroad (reporting mark NYCN) or NYCR is a rail line in the borough of Queens in New York City. It links New York City and Long Island by rail directly to the North American mainland. Amtrak, CSX, Canadian Pacific Railway, Providence and Worcester Railroad and New York and Atlantic Railway (NYAR) currently use the line. It runs from the Hell Gate Bridge over the East River to Fresh Pond Junction yard in Glendale in Queens. It was completed in 1917. Amtrak uses the northernmost section of the line from Sunnyside Junction (Bowery Bay) in the Woodside section of Queens to the Hell Gate Bridge into the Bronx from which it follows the line north to Boston. Amtrak owns the line north of Sunnyside Junction, which forms part of the Northeast Corridor. From this point to Fresh Pond Junction CSX is the owner, with the line known as the Fremont Secondary. South of Fresh Pond, the line leads into the Bay Ridge Branch, a freight-only branch owned by the Long Island Rail Road (LIRR) and operated by the New York and Atlantic Railway.
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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