Specimen Bond. Printed by American Bank Note Company The Delaware, Lackawanna & Western Railroad (also known as the DL&W or Lackawanna Railroad) was a U.S. Class 1 railroad that connected Buffalo, New York, and Hoboken, New Jersey (and by ferry with New York City), a distance of about 400 miles (640km). Incorporated in 1853, the DL&W was profitable during the first two decades of the twentieth century, but its margins were gradually hurt by declining traffic in coal and competition from trucks. In 1960, the DL&W merged with rival Erie Railroad to form the Erie Lackawanna Railroad. The "Leggett's Gap Railroad" was incorporated on April 7, 1832, but stayed dormant for many years. It was chartered on March 14, 1849, and organized January 2, 1850. On April 14, 1851, its name was changed to the "Lackawanna and Western Railroad". The line, running north from Scranton, Pennsylvania, to Great Bend, just south of the New York state line, opened on December 20, 1851. From Great Bend the L&W obtained trackage rights north and west over the New York and Erie Rail Road to Owego, New York, where it leased the Cayuga and Susquehanna Railroad to Ithaca on Cayuga Lake (on April 21, 1855). The C&S was a re-organized and partially re-built Ithaca and Owego Railroad, which had opened on April 1, 1834, and was the oldest part of the DL&W system. The whole system was built to 6ft (1,829mm) broad gauge, the same as the New York and Erie, although the original I& Item ordered may not be exact piece shown. All original and authentic.