Specimen bond: Morris & Essex Rail Road Co., [State of New Jersey] Seven Per Cent Convertible Bond. Payable January 1st, 1900. $1000. Interest payable First of January and First of July. Convertible Until January 1st, 1874. Unissued 1869 bond; un-numbered (presumably printed in December of 1868.)
Printed in black and green on wove paper (no watermark), 17" wide x 22" high, folded to 3-3/4" wide x 9-1/2" high. All coupons present.
"This Bond is one of a series of Three Thousand of the like tenor and date, each for ONE THOUSAND DOLLARS, in the aggregate amounting to THREE MILLION DOLLARS, and numbered consecutively from "One" to "Three Thousand" inclusively."
Interest was to be paid at the "Office of the Delaware, Lackawanna & Western Rail Road Company, in the City of New York." Bondholder had the option to convert its value to capital stock by 1874.
Issuance date was printed as "second day of January, in the year of our Lord One Thousand Eight Hundred and Sixty-nine."
This financial move was apparently one of the earliest actions taken by the D.L. & W. upon taking control (as leaseholder) of the Morris & Essex. See notes.
Acquisition
Accession
2010.007
Source or Donor
Lukacs, Claire
Acquisition Method
Gift
Credit Line
Museum Collections. Gift of a friend of the Museum.
Archive Details
Date(s) of Creation
1869 - 1869
Archive Notes
Date(s) Created: 1868
Date(s): 1869
Condition
Overall Condition
Good
General Notes
Note
Notes: Morris & Essex Railroad (M&E) was chartered in 1835 and first trains operated in 1836. The Delaware, Lackawanna & Western Railroad became the leaseholder of the M&E with an agreement dated Dec. 10, 1868 and took control January 1, 1869. The M&E was formally merged with the DL&W on July 26, 1945.
Status: OK
Status By: dw
Status Date: 2010-07-25
