Buffalo and Erie Rail Road Co. - 1869 dated New York Railway Stock Certificate
Inv# RS4795 Stock
Pennsylvania
Small size Stock measures 9 1/4" x 3 3/4". The Buffalo and State Line Railroad was established on October 13, 1849, and commenced operations on January 1, 1852, extending from Dunkirk, New York, to the west into Pennsylvania. The segment connecting Dunkirk to Buffalo was inaugurated on February 22. The Erie and North East Railroad received its charter on April 12, 1842, to construct the section from the state line westward to Erie, which opened on January 19, 1852. An agreement was reached on November 16, 1853, between the two railroads, both originally built to a broad gauge of 6 ft (1,829 mm), to convert the tracks to a standard gauge of 4 ft 8+1?2 in (1,435 mm) to align with the railroad of the Franklin Canal Company located on the opposite side of Erie. This arrangement allowed the Buffalo and State Line to operate the Erie and North East, facilitating seamless travel for passengers without the need to change trains in Erie. However, this led to the onset of the Erie Gauge War on December 7, 1853, involving both the railroads and local residents. The relaying of the tracks was completed on February 1, 1854, with the first train successfully passing through Erie. Subsequently, on May 15, 1867, the two companies operating between Buffalo and Erie merged to create the Buffalo and Erie Railroad.
In October 1867, the Cleveland, Painesville and Ashtabula Railroad entered into a lease agreement with the Cleveland and Toledo Railroad. Subsequently, on March 31, 1868, the CP&A rebranded itself as the Lake Shore Railway. On February 11, 1869, the Lake Shore Railway incorporated the Cleveland and Toledo into its operations. Following this, on April 6, the Michigan Southern and Northern Indiana Railroad merged with the Lake Shore to establish the Lake Shore and Michigan Southern Railway, which subsequently absorbed the Buffalo and Erie Railroad on June 22, thereby consolidating the entire route from Buffalo to Chicago under one entity. The primary route traversed through Dunkirk, Erie, Ashtabula, Ohio, Cleveland, Toledo, Waterloo, Indiana, and South Bend. An alternative route, known as the Sandusky Division, ran north of the main line in Ohio between Elyria and Millbury, with not all tracks being completed until 1872. The Old Road, which extended from Toledo to Elkhart, passed through southern Michigan, while the through route was designated as the Air Line Division or Northern Indiana Air Line. Additionally, various branches were acquired, including the Monroe Branch, which extended east from Adrian to Monroe, intersecting with the leased Detroit, Monroe and Toledo Railroad. At one point, the original line to Toledo was abandoned west of the branch leading to Jackson, Michigan, known as the Palmyra and Jacksonburgh Railroad, with a new connection established at Lenawee Junction, where the branch met the line to Monroe.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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