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New York Cable Railway Company  ( Early Patent Trust  ) - New York 1884  

New York Cable Railway Company ( Early Patent Trust ) - New York 1884

Product #: NewYorkCableRailway

Normal Price: $395.00
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PRODUCT DESCRIPTION  
Beautiful large certificate from the New York Cable Railway Company issued in 1884. This historic document was printed by the American Bank Note Company and has an ornate border around it. This item is hand signed by the Company's President, W. C. Andrews and Secretary, Abraham L. Earle and is over 123 years old. Coupons attached.

American business in the late Nineteenth and early Twentieth centuries was characterized by attempts to control entire industries by forming patent trusts. A Patent Trust formed the New York Cable Railway in 1883 with a plan to build a system of 29 lines. This system would have included three major uptown lines running on embankments. The mayor vetoed its franchise in 1885. The company continued to push until 1890, but without success.

Rapid Transit Commission of 1883. November 30, 1883, Mayor Franklin Edson appointed as commissioners of rapid transit the following persons: George Byrd, Thomas E. Stewart, Abraham L. Earle and E. R. Livermore. In their application for the appointment of the commission the petitioners call attention to the superior advantages of the system of surface cable roads to existing horse car and steam elevated roads. They also state it as their opinion that the commission has authority under the act of 1875 to lay out cable surface routes as well as steam elevated routes. This was a doubtful point, but the Commission, after securing legal advice determined that it had such power and accordingly located twenty-nine routes, covering some seventy miles of the streets of the city. The road was to be constructed as an elevated road for only seventeen of its seventy miles. The Commission organized the New York Cable Railway Company to construct and operate the road. However, the general term of the Supreme Court refused to grant its consent on account of errors and irregularities connected with the adoption of the routes. The Legislature of 1884 definitely determined the disputed question of jurisdiction by enacting that surface roads could not be laid out under the provisions of the rapid transit act of 1875. Mayor Hewitt's Plan in 1888. In 1888, Mayor Abrarn S. Hewitt, in his message to the common council took up the question of increased transit facilities and recommended the extension of the New York Central tracks from Forty-second street to the city hall. Tlie proposed plan of construction and operation was similar in general outline to the plan under which the present subway was constructed. The proposal met with much public opposition and was not accepted by the New York Central railroad. Mayor Hewitt then favored the construction of other rapid transit routes in accordance with similar plans and caused a bill to be drafted to carry out his ideas. The bill was not favored by the common council and made no progress before the State Legislature. This bill, applying to cities of 800,000 was the model on which were based the provisions of the act of 1894 providing for municipal construction and ownership of the subway.

History from Wikipedia and OldCompany.com

Product #: NewYorkCableRailway

Normal Price: $395.00
Our Sales Price: $295.00

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