Erie Railroad - 1950's-60's dated Railway Stock Certificate - Awesome Railroad History - New York & Many Other States
Inv# RS1081 StockPennsylvania
Railroad Stock Certificate. Male and female figure with company logo. Engraved by American Bank Note Co. Available in Blue or Green. Please specify color. The Erie Railroad (reporting mark ERIE) was a major railroad in the northeastern United States that originally connected New York City — specifically Jersey City, New Jersey, where its now-demolished terminal once stood — with Lake Erie. The railroad expanded westward to Chicago in 1941 through a merger with the Atlantic and Great Western Railroad, also known as the New York, Pennsylvania and Ohio Railroad (NYPANO RR). The Erie Railroad's mainline played a significant role in the development and economic growth of New York State's Southern Tier, serving cities such as Binghamton, Elmira, and Hornell. The company's repair shops were located in Hornell, making it the city's largest employer and the point where the mainline split into two routes: one to Buffalo and the other to Cleveland.
On October 17, 1960, the Erie Railroad merged with its former rival, the Delaware, Lackawanna & Western Railroad, to form the Erie Lackawanna Railroad. After the formation of Conrail in 1976, the Hornell repair shops were closed, and repair operations were moved to the Lackawanna's Scranton facility, leading to economic hardship in Hornell. The Hornell shops have since been used intermittently for assembling railroad and transit cars and are now operated by Alstom. In 1972, Hurricane Agnes caused significant flood damage to the Erie line between Hornell and Binghamton, but the line was quickly repaired and today forms a crucial part of Norfolk Southern Railway's Southern Tier mainline. In 1983, some remnants of the Erie Lackawanna became part of New Jersey Transit rail operations, including parts of its Main Line. Currently, most of the surviving routes of the former Erie Railroad are operated by Norfolk Southern Railway.
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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