Beautifully engraved certificate from the Pay as you Enter Car Corporation issued in 1910. This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of a train. This item has the signatures of the Company’s President, Treasurer, and Secretary,and is over 109 years old.
All of these patent rights, home and foreign, are the property of the company, and the various street railway companies contract for the use of same on a uniform royalty of $100 per car.
In 1911, a controlling interest was acquired in the Pay-Within-Car Co., owning certain patents covering door and step closing mechanism, and since that date licenses have been granted through a selling Organization called the Prepayment Car Sales Co. On Jan 1, 1912, about 12,000 PAYE cars of various designs were operated by 112 licensees.
The Corporation has an interest in the Railway Improvement Company which controls the Hedley Coasting Recorder and other devices for use on electric lines.