Syracuse and East Side Railway Co. - $1,000 - Bond (Uncanceled)
Inv# RB5345 Bond
$1000 6% Gold Uncanceled Bond. 45 of 50 coupons present. American Bank Note Co-Philadelphia, PA. Rare!!!
The Syracuse and East Side Street Railway, an interurban rail in Syracuse, New York, was chartered on August 25, 1894, and was a successor to the Syracuse, Eastwood Heights and DeWitt Railroad Company. The company was also known as the Syracuse and East Side Railroad.
The company went bankrupt and was placed in receivership on May 11, 1898, and on December 29, 1898, the property was purchased by the bondholders. The East Side Traction Company was chartered on January 14, 1899 after a reorganization.
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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