HUNGARY. BUDAPEST. Actie über 100 Gulden Ö.W. orange, black. No 109665. Folds and some brown staining. Vignette of winged wheel. Text in Hungarian and German. The first horse-tram in Budapest was inaugurated in 1866. By 1885, Budapest had 15 horsecar lines. Electrification started in 1887. Around 1900, there were 30 lines,half of them operated by the BudapestiVillamosVarosiVasut (=Budapest Electric City Trains) and the other half by the BudapesteiKözutiVaspalyaTarsasag (=Budapest Road Rail Co.). These companies merged in 1923. The tram network of Budapest survivedWWII and still operates today. Rare share, not to be confused with the common bonds issued by this company.