Chemical National Bank of New York - Stock Certificate
Inv# BS1269 Stock
Stock printed by American Bank Note Co., New York.
Chemical received its national charter as the Chemical National Bank of New York in 1865, at the urging of the secretary of the treasury. This allowed Chemical to issue government-backed national bank notes, the forerunner to paper money. By the early 1870s, Chemical had accumulated deposits in excess of $6 million (equivalent to $121 million in 2019).
A contemporary perspective of Chemical from 1893 described the bank as follows:
"The Chemical National Bank is a famous corporation. Its stock commands a greater price in proportion to its par value than any other bank stock. It has the greatest surplus and undivided profits, with a single exception, of any bank in the country. It has the largest amount of individual deposits. It pays the largest percentage of dividends on its par value of any corporation of any kind ... The shares of the bank based on $100 par value have sold as high as $4,980 each."
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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