Items listed here, were made by Ives from 1902 through 1927, and transition period and later Lionel-Ives 1928 through about 1932.
Late Ives 125 Union Refer
Late Ives 125 Union Refer
Here is a Late Ives 125 Union Refer, 1928. It is clean with tin litho sides and doors, red enamel roof. It has journaled trucks and shows light to moderate play wear with light oxidation on wheels and couplers, VG+.