The Jersey Shore, Pine Creek and Buffalo Railway - 1882 dated Autograph Bond signed by William K. Vanderbilt, Cornelius Vanderbilt, Frederick Vanderbilt, and Chauncey Depew
Inv# AG1011 Bond
$10,000 6% Bond issued to W.H. Vanderbilt and signed by his 3 important sons. Cornelius Vanderbilt Jr. or II, William Kissam Vanderbilt, Jr. and Frederick W. Vanderbilt. Also signed by Chauncey M. Depew.
Cornelius Vanderbilt II (1843-1899) was associated with one of the most striking bonds of the 19th century, the Canada Southern Railway Bond of the Dominion of Canada. This bond, engraved by the American Bank Note Co., NY, features two richly detailed vignettes and vibrant green coloring, making it truly exceptional. The bond, valued at $10,000 and dated 1877, is in superb mint condition and includes a lightly canceled signature of Cornelius Vanderbilt. It originated from the Syracuse University Collection.
William K. Vanderbilt, Jr. (1878-1944) was a prominent railroad executive and the son of William K. Vanderbilt. He began his career with the New York Central Lines in 1903, quickly rising through the ranks. By 1910, he was appointed assistant to the President, and in 1912, he became Vice President. In 1918, Vanderbilt assumed the role of President. In addition to his railroad career, he served as a Director of the Western Union Telegraph Company. During World War I, from 1917 to 1918, he served in the U.S. Navy.
Frederick W. Vanderbilt (1856-1938) was a businessman and the son of Wm. H. Vanderbilt. He received his business training in his father's railroad system and was known for owning the steam yacht "The Warrior" and an exceptional estate at Hyde Park on the Hudson. He served as a director for many railroads and other corporations, working alongside his brothers Cornelius and William K. to keep the New York Central System strong.
Chauncey M. Depew (1834-1928) was a lawyer and railway president. He served as a member of the New York Legislature, New York Secretary of State, and was appointed as the first U.S. Minister to Japan. Depew eventually resigned from this post to work as an attorney and legislative contact for Commodore Cornelius Vanderbilt's Railroads. He later served as the president of the New York Central from 1885 to 1898 and as a U.S. Senator for New York from 1899 to 1911. Known for his storytelling skills, Depew was a highly influential figure during his time.
The Jersey Shore, Pine Creek and Buffalo Railway was constructed in the early 1880s to provide the New York Central and Hudson River Railroad with access to the coal-rich areas near Clearfield, Pennsylvania. Initially intended as part of a connecting line between the East Coast and Buffalo, New York, the railroad was established on February 17, 1870 to run from Williamsport to Jersey Shore, up Pine Creek, and down the Allegheny River to Port Allegany, forming a route to Buffalo. Although organized under a new charter, this marked a continuation of the earlier Jersey Shore, Pine Creek and State Line Railroad project, which had conducted surveys with the goal of connecting with another railroad on the state's northern border, potentially extending as far west as McKean County. Upon assuming the presidency of the company, Sobieski Ross began pushing for grading from Jersey Shore towards Coudersport.
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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