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J. P. Morgan Signed New Jersey Junction Railroad Bond |
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John Pierpont Morgan (1837-1913) was one of the world’s leading investment bankers between 1890 and 1915. He reorganized major railroads with William Henry Vanderbilt. In 1898, he strong-armed a syndicate of New York banks into financing a $30,000,000 bail-out of the U. S. Treasury. He consolidated the United States Steel Trust as well as International Harvester and General Electric. Morgan was also an avid collector of fine art, manuscripts, and prints, which today are displayed in the Metropolitan Museum of Art and the Morgan Library & Museum.
JOHN PIERPONT MORGAN and HARRIS C. FAHNESTOCK.
Partially Printed Document Signed as trustee of the New Jersey Junction Railroad, 100-year $1,000 bond guaranteed by the New York Central and Hudson River Railroad, June 30, 1886. 1 p.
Inventory #27884
Price: $1,900
Harris Charles Fahnestock(1835-1914) was an investment banker and a partner of Jay Cooke. He later led First National Bank of New York, a predecessor of Citigroup.
The New Jersey Junction Railroad (NJJ) ran along the Hudson River from the Weehawken Terminal south to Jersey City. Four months after it was incorporated in 1886, it was leased for 100 years to the NY Central and Hudson River Railroad. In 1914, the NJJ merged with the NJ Shore Line. It eventually came under the control of CSX and Norfolk Southern. A section is still used for part of NJ Transit’s Hudson-Bergen Light Rail and for freight.
