Beautiful scarce uncancelled stock certificate from the New Hope and Ivyland Railroad
issued in 1966. This historic document has an
ornate border around it with a vignette of the company's train. This item has the printed signatures of the Company's officers.
The New Hope and Ivyland Railroad (reporting mark NHRR) is a shortline railroad in Pennsylvania. It also operates a heritage railroad, offering passenger excursions.
The NHRR provides contract track and locomotive services to freight and passenger railroads in North America and has been involved with various film and television commercial projects.
The NHRR was originally known as the New Hope Branch of the Reading Company (RDG), which leased the North Pennsylvania Railroad, of which it was a part. The railroad ran as far as Hartsville Station (near Bristol Road) until March 29, 1891, when the line was extended to the long-desired terminal of New Hope, Pennsylvania.
First train to New Hope.
A decade after June 1952, when Hatboro-New Hope passenger service terminated, the RDG's financial situation was precarious. Looking to rid themselves of unprofitable branch lines via abandonment, a group of train buffs and businessmen led by Philadelphia attorney Kenneth Souser — established as Steam Trains, Inc. — were seeking to operate steam trains on a for-profit basis. Steam Trains, Inc. became organized as the New Hope and Ivyland Railroad, and on June 20, 1966, the 16.7 mile line was sold for $200,000.
Steam Trains, Inc. started their operations on a high note, often in an extravagant fashion. The company leased freight locomotives from the RDG, and used only hired labor to operate their excursions. The "air rights" over the Southern portion of the line from Ivyland to just North of Almshouse Road, were sold to the former Philadelphia Electric Company (now Exelon) in order to stay solvent. Steam Trains, Inc. declared bankruptcy on June 5, 1970. Operations continued under a court appointed trustee.
The Bucks County Industrial Development Corporation (BCIDC) purchased the trackage from the Steam Trains, Inc. in early 1974 to "preserve rail service through the center of Bucks County." The county selected McHugh Brothers Heavy Hauling, Inc. to operate freight service over the line via a lease agreement. McHugh Brothers continued hauling freight with Edward L. McHugh as president until his departure in 1989. By the summer of 1976, the railroad receive state funding to rehabilitate crumbling infrastructure that sorely needed fixing. By August 1977, volunteers from the Buckingham Valley Trolley Association [BVTA] (now the Electric City Trolley Museum Association) were operating state-sponsored passenger service connecting the touristy town of New Hope with SEPTA/Conrail commuter trains at Warminster. Bucks County had made a wise investment, as both passenger and freight service flourished during the 1970s once track upgrades were made. Finally, on June 30, 1979, the New Hope and Ivyland Railroad finally emerged from its decade-long bankruptcy.
Beginning July 3, 1980, volunteers of the New Hope Steam Railway (NHSR) resumed weekend excursion service after the BVTA decided to end it. The NHSR ran trains under a lease agreement with the BCIDC until 1990, when the line and its equipment were once again in a state of decay and disrepair. The McHugh Bros. operated the NHRR until 1989 when their lease ended and the Morristown & Erie was contracted to operate the railroad. The BCIDC sold the line outright to the for-profit Bucks County Railroad Preservation and Restoration Corporation (BCRP&RC) in 1990, who slowly began to rebuild the railroad to its current state of good repair. BCRP&RC is the official corporate structure, doing business as the New Hope & Ivyland Railroad.
History from Wikipedia, Encyberpedia and
stock certificate research service)