Dunkirk, Warren and Pittsburgh Railroad Co. - Fully Issued 1868-1869 Railway Stock Certificate
Inv# RS2023 StockPennsylvania
1868-69, NY and Pennsylvania, Stock. Manuscript or stamp cancelled, Washington Revenue. Scarce Green Color. Very Fine Condition. Rare! From the Syracuse University Collection. Available in Issued or Unissued. Also available unissued at a lesser price. Please inquire if interested.
The idea of constructing a railway along the Conewango River valley from Warren, Pennsylvania, northward toward Lake Erie originated around 1833 among local businessmen. However, no tangible progress was made until 1853, when 1,700 shares of stock were sold. It wasn't until the winter of 1866 that influential figures from Chautauqua County, New York, reignited the project. By April 1867, the New York State Legislature granted a charter for the Dunkirk, Warren & Pittsburgh Railroad Company to sell stock, and construction officially began on June 17, 1867. The first passenger train traveled the line on June 22, 1871, running from Dunkirk, New York, to at least Falconer, New York.
On December 31, 1872, the Dunkirk, Allegheny (also spelled "Allegany") and Pittsburgh Railroad was incorporated as a result of the merger between the Dunkirk, Warren and Pittsburgh Railway Company and the Warren and Venango Railroad Company. Just four days later, on January 3, 1873, the DAV&P was leased to the New York Central and Hudson River Railroad for a term of 501 years. Read more at https://en.wikipedia.org/wiki/Dunkirk,_Allegheny_Valley_and_Pittsburgh_Railroad
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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