Railroad Bond Appraisal

The Pennsylvania Railroad Company General Mortgage 4-3/4% Bond, Series E

This item is an antique stock or bond certificate issued by The Pennsylvania Railroad Company, specifically a General Mortgage 4-3/4% Bond, Series E, for 1000 dollars. The document features a detailed engraving at the top showing a grand building, likely a depiction of the company's headquarters or a significant station, surrounded by an ornate, almost rococo, decorative border. The primary colors appear to be variations of muted green and off-white/cream for the paper, with the text printed in dark ink, possibly black or dark green. The denomination '1000' is prominently displayed in large, decorative numerals on both the left and right margins of the certificate, enclosed within an elaborate scrollwork design. The bulk of the certificate is filled with dense, small-print legal text detailing the terms and conditions of the bond. Superimposed over this legal text, in very large, stylized, and bold capital letters, is the abbreviation 'PENNA R.R. CO.', likely a watermarked or overprinted security feature. At the bottom, there are spaces for signatures, with some faint, illegible script visible, suggesting it may have been signed. The certificate is generally well-preserved, though its exact condition cannot be fully assessed without closer inspection. There are no obvious tears or major creases visible, but the paper shows signs of aging, such as slight discoloration inherent with age. The elaborate border, featuring floral motifs and symmetrical scrollwork, indicates a high degree of craftsmanship typical of financial documents from the late 19th or early 20th century. The overall aesthetic suggests a period of significant industrial expansion and the importance of railway companies. The exact issue date is partially visible as 'JULY 1, 1924,' which places it firmly in the early 20th century.