PHILADELPHIA RAPID TRANSIT COMPANY Stock 1920. PA. Organized in 1882. ABNC VIG

Description

Philadelphia Rapid Transit Company
. Stock issued on March 2,
1920
.
Incorporated in 1902
in the State of Pennsylvania. Embossed company seal lower center. Certificate No. P13103 was issued to Chandler Brothers & Company for two shares of capital stock ( per share). Original ink signatures of company vice president and assistant treasurer. Certificate is about 8” x 11.5”. Black print with brown overprint/underprint.
Finely engraved ABNC vignette of an early 1900s passenger streetcar.
Throughout Philadelphia a dense network of street railways existed in the 1850's, and by 1880 the city led all American cities in the length of its horse-car lines. Eventually these were converted to cable cars in the 1880's and to electric trolleys in the 1890's.
An important Philadelphia transportation development was the
Market Street Subway
, the city's first underground railway built in
1907
. The
Broad Street Subway
was completed in the 1920's to expand the city's rapid transit system. By the
1930's
, both subways had been extended in the city, and work on the
Locust Street Subway
had begun. By 1955 trackless trolleys had replaced the trolley cars on rails to relieve congestion in the business district. Mass transit was provided mainly by trolley or bus lines, which networked across the metropolitan area. As for this particular line,
Peter A.B. Widener and William Elkins Lukins were responsible for the company’s development
. On December 4,
1879
, they acquired a controlling interest in the
Union Passenger Railway Company
, 12,600 shares, which were purchased by a combination of individuals, principally composed of officers and stockholders of the
Continental Passenger Railway Company
, at 0.00 a share --
this was the nucleus to the formation of the
Philadelphia Rapid Transit Company in 1882
. In 1940, the company became the Philadelphia Transportation Company. On September 30, 1968, the PTC was purchased by SEPTA (Southeastern Philadelphia Transportation Authority).
Condition:  Very Fine
, two light vertical folds, minor creasing, no tears, moderate staining/discoloration (see photos), punch and stamp cancelled.
Printer:
American Bank Note Company, Philadelphia.
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