New York and Northern Railway Co. - Railroad Stock Certificate
Inv# RS1141 Stock
Railroad Stock. Great train vignette with elaborate borders engraved by the Franklin Bank Note Co, NY. Especially nice!!! Available in Brown or Blue. Please specify color.
The New York and Putnam Railroad, nicknamed the Old Put, was a railroad line that operated between the Bronx and Brewster in New York State. It was in close proximity to the Hudson River Railroad and New York and Harlem Railroad. All three came under ownership of the New York Central system in 1894. The railroad was abandoned starting in 1958, and most of the former roadbed has been converted to rail trail use.
The company went into receivership by 1887 and was reorganized as the New York & Northern Railway. By 1894 it was reorganized as the New York & Putnam Railroad (NY&P) by J. P. Morgan, who in turn leased the railroad to the New York Central & Hudson River Railroad (NYC&HR). The line eventually became the Putnam Division of the New York Central Railroad (NYC) by 1913. The line lacked a direct connection to NYC's flagship station, Grand Central Terminal (GCT), which hurt ridership throughout its existence. Passengers were forced to transfer at Highbridge to reach GCT. The Sedgwick Avenue-Van Cortlandt section and the Yonkers Branch were electrified in 1926.
Several short branches were eliminated after the 1920s. The Mohansic Branch near Yorktown Heights, originally built to serve a mental institution that was canceled by Albany, went first. In 1929, John D. Rockefeller, Jr. had the tracks removed from his Pocantico Hills property, eliminating four stations while creating one. The nearby village of East View was obliterated to build the new line. The Getty Square Branch was abandoned on June 30, 1943. Despite a legal battle by Yonkers residents which reached the United States Supreme Court to save it, the line was scrapped in December 1944.
The first diesel locomotive passenger train in the U.S. ran on the Putnam on March 18, 1929.
Besides the regular Sedgwick Avenue–Brewster service, service also operated from Golden's Bridge on the Harlem Division via a connecting branch to Lake Mahopac, and then over the Putnam Division to Brewster, where it returned to the Harlem Division. Trains taking this route were said to go "around the horn".
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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