Spink US schedules its next Numismatic Collector's Series Sale next week. Amid hundreds of coins, medals, militaria and banknotes nearly forty lots of stocks and bonds are ready for a new keeper.
Now take auction lot 935 which consists of a scarce trio of Central Railroad Company of New Jersey bonds. Coxrail tells us that these types are not known as issued examples. The Central Railroad of New Jersey (CNJ) with origins in the 1830s became known after WW II as the Jersey Central Lines. Over the years, the business grew into a Class I railroad company. In 1911, when the Interstate Commerce Commission classed railroads by their annual gross revenue, Class I railroads had an annual operating revenue of at least $1 million.
|The Central Railroad Company of New Jersey|
$50,000 General Mortgage 4% 100 Year Gold Bond, 1887
specimen printed by American Banknote Company
part of lot 935 in the auction
click image to enlarge
In 1929 CNJ introduced The Blue Comet, a train designed to provide passengers with a luxurious accomodation and service. Capable of doing 100 miles per hour, this train catapulted its passengers from Jersey City to Atlantic City in three hours. A frequent rider of the Blue Comet was toy manufacturer Joshua Lionel Cowen. Admiring the train's elegance, beauty, speed and power, Lionel offered a popular standard gauge model of the train in 1930.
Details of the auction
- Dates: 4 & 5 April 2017
- Location : New York
- More info : see here