Ashland and Western Railway Co. - 1900 dated Railroad Stock Certificate
Inv# RS5076 Stock
Stock printed by Goes. Cut cancelled. Scarce! The Lorain, Ashland, and Southern Railroad (reporting mark LA&S) operated from 1914-1925 between Lorain, Ohio and Custaloga, Ohio. It was a consolidation of the Ashland and Western Railway and the Lorain and Ashland Railroad. The line was purchased in 1916 by the Pennsylvania Railroad and the Erie Railroad as a means to access the National Tube Company steel mill in South Lorain, Ohio. The original rail line, known as the Millersburg, Jeromeville, and Greenwich Railroad, was constructed in 1894-1895 between Brown's Junction, Ohio and Jeromeville, Ohio by Horace B. Camp, a brick manufacturer from Akron, Ohio. He built a brick and tile plant near Horace and used the railroad to ship his finished products to customers throughout Ohio and New York.
In 1898-1899 the Ashland and Wooster Railway Company extended the line to Ashland, Ohio, where it built a large freight and passenger depot and served many large industries in that city. Horace Camp sold the railroad to Charles W. French in 1903 and the name of the company changed to the Lake and River Railroad, a subsidiary of the Chicago Short Line Railway. After several years of financial difficulties, the line went into receivership and was eventually purchased by Zebulon W. Davis of Canton, Ohio. In 1907 the Ashland and Western Railway was sold to former Wabash Railroad president Joseph Ramsey, Jr. Ramsey had constructed the Lorain and Ashland Railroad between Wellington, Ohio and Lorain, Ohio. This line fell into disrepair and it was not until 1913 that the entire system was refurbished and a connector between Ashland and Wellington was completed in 1914.
Because of railroad consolidations, poor condition of the rail line, competition from the Lorain and West Virginia Railroad, and corporate manipulations, the Lorain, Ashland, and Southern Railroad was abandoned in August 1925. Read more at https://en.wikipedia.org/wiki/Lorain,_Ashland_and_Southern_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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