Chicago Elevated Railways Collateral Trust
Chicago Elevated Railways Collateral Trust
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- Inventory on the way
Product Details
Company | Chicago Elevated Railways Collateral Trust |
Certificate Type | Preferred Participation Shares |
Date Issued | May 17, 1923 |
Canceled | No |
Printer | American Bank Note Company |
Signatures | Hand signed |
Notable | NA |
Approximate Measurements |
12 1/4" (w) by 8 3/4" (h) |
Product Images | Show the exact certificate you will receive |
Guaranteed Authentic | Yes |
Historical Context
The Chicago and South Side Rapid Transit Railroad Company was incorporated on January 4, 1888, and secured a franchise from the City of Chicago on March 26 of that year to construct an elevated railroad between Van Buren Street and 39th Street (Pershing Road). The franchise required the company to build along a right of way immediately adjacent and parallel to one of the alleys from Van Buren Street to 37th Street, rapidly earning the line the nickname of the "alley L". On April 2, 1892 the city authorized the extension of the line as far south as 71st street, and a further extension along 63rd Street was passed on April 7, 1893, the total cost of construction was estimated at $6,750,000. A 6-car train carrying 300 guests made the inaugural run along first section of the line - running between a station at 39th Street and the Congress Terminal downtown - on May 27, 1892, and the line opened to the public ten days later. Initially the 3.6-mile journey from 39th street to downtown took 14 minutes and cost 5¢. The line was gradually extended over the following months, with the route reaching Jackson Park on May 12, 1893 to provide service to the World's Columbian Exposition. The South Side Elevated railroad provided 24-hour service, a major advantage when compared to Chicago's cable railroads which required daily overnight shutdown for cable maintenance. After midnight, two trains ran on the line, providing service every 20 minutes; in contrast, rush-hour service required 18 trains to maintain a schedule with a 3-minute headway. When the World's Columbian Exposition closed, lack of development along the southern portion of the route led to plummeting passenger numbers. The Chicago and South Side Rapid Transit Railroad Company went into receivership in 1895 and was sold under foreclosure on September 16, 1896 for $4,100,100. The South Side Elevated Railroad was formed to take over the route in 1897. Service was extended into the newly built Union Loop on October 18, 1897 connecting the South Side Elevated Railroad with the Lake Street Elevated Railroad, the Metropolitan West Side Elevated Railroad, and (after 1900) the Northwestern Elevated Railroad. These other companies used third rail electrification to power their trains so the South Side Elevated Railroad enlisted Frank Julian Sprague to convert its rolling stock to electrical power. Sprague used his previously untested system of multiple-unit train control (MU) whereby multiple self-powered cars could be linked together and controlled by a single person, making the South Side Elevated Railroad the first in the world to use MU operation. As ridership increased, the South Side Elevated Railroad constructed additional branches. A 3-mile branch to Englewood opened in stages between 1905 and 1907 (with the short 0.9-mile Normal Park branch opening in 1907), and branches to Kenwood and the Union Stock Yards - both running on tracks owned by the Chicago Junction Railroad - opened in 1907 and 1908 respectively. In 1913, Chicago's four elevated railroad companies came together to form the Chicago Elevated Railways Collateral Trust establishing crosstown services for the first time, and in 1924 all four companies were formally united to form the Chicago Rapid Transit Company. The Chicago Transit Authority took over the assets of the CRT in 1947. The Normal Park branch closed in 1954 and the Kenwood and Stock Yards branches were abandoned in 1957, but most of the rest of the route of the South Side Elevated Railroad continues in service as part of the CTA's Green Line. |
Trolley Lines | |
Illinois |
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
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Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
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We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
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Returns
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You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.