Franklin and Clearfield Railroad Co. - 1903 dated Railway Stock Certificate
Inv# RS4810 Stock
Pennsylvania
Stock. On January 26, 1909, the Jamestown and Franklin Railroad, the Central Trunk Railroad, the Franklin and Clearfield Railroad, and the Jackson Coal Railroad consolidated to create the Jamestown, Franklin and Clearfield Railroad. When the consolidation was complete, the LS&MS purchased 2,535 shares of stock of the company in exchange for forgiving a portion of the debt it had incurred in building the lines of these roads.
The New York Central and Hudson River Railroad acquired a controlling majority in the LS&MS in 1877. In 1914, an asset restructuring and refinancing of the New York Central led to the abolishment of all subsidiary corporations and their consolidation into a new New York Central Railroad. On April 7, 1915, the New York Central (NYC) purchased the Jamestown, Franklin and Clearfield Railroad in a debt-for-ownership exchange. The NYC then abolished the separate corporate existence of the Jamestown, Franklin and Clearfield Railroad. Read more at https://en.wikipedia.org/wiki/Jamestown_and_Franklin_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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