Dunkirk, Warren and Pittsburgh Railway Co. - Railroad Stock Receipt
Inv# RS5259B Stock
Unissued Stock Receipt with stub. The Dunkirk, Allegheny Valley and Pittsburgh Railroad is a historic railroad company that operated in Pennsylvania and New York. Chartered in 1867, its first passenger train ran in 1871. After several mergers and name changes, it was leased to the New York Central and Hudson River RR in 1873 for a term of 501 years. It was later wholly absorbed by the New York Central. Passenger service ceased in 1937. Only a few structures built by the company are extant.
Begun as an idea of the businessmen of Warren, Pennsylvania about 1833 to build a railway following the Conewango River valley north toward Lake Erie. The idea produced no action until 1853, when 1700 shares of stock were sold, but it wasn't until the winter of 1866 that several influential men of Chautauqua County, New York started stoking the fires of progress. By April 1867, the New York State Legislature issued a charter for the Dunkirk, Warren & Pittsburgh Railroad Company to sell stock, and on June 17, 1867 that actual work began. The first passenger train ran over the line on June 22, 1871, from Dunkirk, New York to at least Falconer, New York.
The Dunkirk, Allegheny (sometimes spelled "Allegany") and Pittsburgh incorporated on December 31, 1872 as a merger of the Dunkirk Warren and Pittsburgh Railway Company, and the Warren and Venango Railroad Company. Four days after incorporation, on January 3, 1873, the DAV&P was leased to the New York Central and Hudson River RR 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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