The Hudson River Railroad was an extension of the Troy and Greenbush Railroad. Chartered in 1845, this line connected Troy with Greenbush (now named Rensselaer). The addition of the Hudson River Railroad extended this route south to New York City. Cornelius Vanderbilt, nicknamed “The Commodore," acquired the Hudson River Railroad in 1864, which he merged with his later acquisition of the New York Central Rail.
These $50,000 par value stock certificates were issued to the family and descendants of Cornelius Vanderbilt, who died in 1877. Their names have been stamped onto each certificate.
The New York Central began to decline after World War II. The Interstate Commerce Commission (ICC) heavily regulated rates charged by the industry. The nascent automobile industry and airline travel became fierce competition. The oversaturated railroad industry struggled to share the remaining traffic, and many merged as a result. Eventually, the New York Central Railroad would merge with the Pennsylvania Railroad, forming Penn Central.
These particular stock certificates were issued in 1912.
A New York Central express passenger train, the 20th Century Limited, departs LaSalle Street Station in Chicago, 1938
The stock certificate comes with a rigid archival document holder for preservation and handling. A Certificate of Authenticity is also included.
NOTE: This certificate has no value as a financial asset, and will not be honored by any extant company today.
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