1807

New York, West Shore & Buffalo Railway Co, 1881 Specimen 5% Coupon Bond, VF ABNC

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:45.00 USD Estimated At:75.00 - 150.00 USD
New York, West Shore & Buffalo Railway Co, 1881 Specimen 5% Coupon Bond, VF ABNC
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Rare bond unknown issued or Specimen until this example. Rare and very attractive bond. ABNC. NY, New York, West Shore & Buffalo Railway Co, 1881 Specimen 5% Coupon Bond, VF ABNC, The New York, West Shore, and Buffalo Railroad was created in 1882 to build a line from Weehawken, NJ to Buffalo, NY. It was built to directly compete with the New York Central as it tracks virtually paralleled the Central's all the way to Buffalo. The name was derived from the location of the initial right of way on the West Shore of the Hudson River. The West Shore reached Buffalo around 1884. This event precipitated a shipping rate war with the New York Central. The New York Central had been forced to acquire the Nickel Plate as its parallel line along the Central's Lake Shore route threatened to be too competitive for the wily Vanderbilts. When the West Shore did the same thing on the remainder of the Central's New York to Chicago route the Central had no choice, but to batter them into submission financially. The West Shore soon went bankrupt and the NYC's deep pockets were barely dented. In 1885 the West Shore was reorganized as the West Shore Railroad, a wholly owned subsidiary of the New York Central lines. It operated in this capacity until 1952 when the West Shore was formally merged into the New York Central. Quite a bit of the old West Shore still exists today and is used by CSX, the successor to Conrail, Penn Central and the New York Central. It is CSX' primary freight route north from New York City on the west shore of the Hudson river. Pieces in central New York including most of the line between Utica, through Syracuse to Rochester exist as bypasses or connections and the old West Shore East Buffalo Yard is now a part of CSX' Frontier Yard. Splits at horizontal folds archivally reinforced and repaired. Rare bond that will be impossible to improve upon.