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New York and Long Island Railroad Company

$35.00

SKU: 2122
Product Details

Intricately engraved antique stock certificate from the New York and Long Island Railroad Company dating back to the early 1900's. This document was printed by Goes and measures approximately 11" (w) by 8 1/4" (h). 

 

This certificate's vignette features a train exiting a tunnel. 

You will receive the exact certificate pictured.

    Historical Context

    The New York and Long Island Railroad Company was organized to build a railroad tunnel connecting the New York Central Railroad in Manhattan to the Long Island Railroad at Hunter's Point in Long Island City.

    Ground-breaking for construction began in June 1892 in Long Island City. A few months later on December 28, 1892 the project came to a halt when there was a huge dynamite explosion that killed five and injured more than 20 people. After the explosion, when newspapers claimed he was president of the company, William Steinway (of the Steinway piano maker family,) a majority shareholder and leader of the enterprise, was quick to issue a correction. At the inquest the jury ruling on the tragedy was unable to determine a specific cause for the explosion.

    Following years of inaction the construction company became insolvent, and Steinway reported a movement to appoint a receiver for the New York and Long Island Railroad Company. After Steinway died in November 1896 his heirs (in 1905) sold his 425 shares in the company for $92,694.

    In 1905 the Interborough Rapid Transit Company resumed construction of the tunnel and completed work 26 months later. Official opening of the tunnel occurred on September 24, 1907, when the Mayor and other dignitaries attended and celebrated afterwards with dinner at the Belmont Hotel. Steinway's dream finally had been realized, and the newer constructions are often referred to as the "Steinway Tunnels."

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