New Jersey Electric Railway Company - New Jersey 1894

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Beautifully engraved RARE certificate from the New Jersey Electric Company printed in 1894. This historic document was printed by American Bank Note Company and has an ornate border around it with a vignette of an electric train flanked by angels. This item and Secretary and is over 112 years old. is a name you can TRUST!
Certificate Vignette
New Jersey Electric Ry.-- Length of track, 40.57 miles. Gauge, 4 ft. 8 in. Rail (T), 70 and (girder), 90 lbs. Cars owned, 105; snow-ploughs, baggage and postal cars, 11; power station, 1 of 1,500 h. p.; engines to generate power, 8, one to each generator. Chartered Sept. 14, 1894, for 50 years; municipal agreement is perpetual; authorized to use electricity, cable and horses, and required to pave between and 18 in. outside of tracks; as consideration for franchise, p. c. of net receipts are given on 4 m. of track. Organized Sept. 20, 1894; road opened--part in April, 1893, Jan. and June, 1894, June, 1895, and in Aug., 1896. Leases the Paterson. Passaic and Rutherford Electric Ry. Co., and the Jersey City, Hoboken and Rutherford Electric Ry. Co.; the former company was a consolidation of the Paterson and Little Falls Electric Ry, Co., Grand Street Electric Ry. Co., Paterson and Passaic Electric Ry. Co., People's Park Electric Ry. Co., and the Passaic, Rutherford and Carlstadt Electric Ry. Co.--see subjoined statements. On Dec. 14, 1897, the President was appointed receiver. Operations, year ending Dec. 31, 1897.--Earnings (passenger, $246,548; freight, $269; other, $1,768), $248,585. Expenditures (superintendence and management, $163,799; repairs, $41,735), $205,535. Financial Statement, Dec. 31, 1897.--Capital stock (shares, $100; auth. by charter, $3,500,000; by vote of company, $2,600,000), paid in, $2,287,000; funded debt 1st mtge. 5% 50·yr. $1,000 gold coup. bonds, dated Nov. 1, 1894, interest May and Nov., at office of the trustee, auth., $3,500,000; issued, $2,600,000), $2,367,233; other debts, $756,917--total, $5,412,050. Contra: Cost of road, equipment, etc., $5,395,331. Interest on bonds due in Nov., 1895, was paid one-half scrip and one·half cash; the scrip is redeemable in two years in cash or bonds. Interest is now in default. Trustee of bonds: Mercantile Trust Co., 120 Broadway, New York. The remainder ($900,000) of the authorized issue can be issued for extra equipment, extensions, or improvements and for the purchase of contiguous or connecting lines free from bonded debt. Company history from
JERSEY CITY HOBOKEN & PATERSON RAILWAY (Paterson) Incorporated 1899 as consolidation of the following companies. Sold 1903 to Public Service Corp. of New Jersey. Jersey City Hoboken & Rutherford Electric Railway Co. - incorporated 1893, leased 1894-1899 to New Jersey Electric Railway Co. Paterson Central Electric Railway - incorporated 1892 as consolidation of Paterson Central Railway Co. and Central Electric Railway Co. Paterson Horse Railroad Co. - incorporated 1863. Paterson Passaic & Rutherford Electric Railway - incorporated 1893 as consolidation of Paterson & Little Falls Electric Railway Co., Grant Street Electric Railway Co., People's Park Railway Co., Paterson & Passaic Electric Railway Co., Paterson Rutherford & Carlstadt Electric Railway Co. Leased 1894-1899 to New Jersey Electric Railway Co. Paterson Railway - incorporated 1890 as consolidation of Paterson City Railroad Co., Paterson & Passaic Railroad Co., Paterson Garfield & Clinton Railway Co., others. North Hudson County Railway - opened 1861, in 1891 acquired Pavonia Horse Railroad Co., in 1893 opened Hudson & Bergen Traction Co., in 1894 opened Palisades Railroad. Saddle River Traction Co. White Line Traction Co. Bergen Turnpike Co. - opened 1902. Paterson & State Line Traction Co. - opened 1914. North Hudson County Railway - opened 1861, in 1891 acquired Pavonia Horse Railroad Co., in 1893 opened Hudson & Bergen Traction Co., in 1894 opened Palisades Railroad. Above lines basically served Paterson and Passaic County, and evolved to Passaic Division of Public Service Coordinated Transport. The North Hudson County Railway served part of Hudson County, and evolved to part of the Hudson Division of Public Service Coordinated Transport.