Jamestown and Franklin Railroad - 1862-96 dated Pennsylvania Railway Stock Certificate
Inv# RS1100 Stock
Available Issued or Unissued. Railroad Stock. Four vignettes of train, Indian princess, farmer and sailor. Great stock. Slight glue at left. Rare!!! Also available in unissued for a lessor price. Please inquire if interested. The Jamestown and Franklin Railroad (J&F) was a shortline railroad which operated in the U.S. states of Ohio and Pennsylvania. Established in 1862, its main line ran from Jamestown, Pennsylvania, to Oil City, Pennsylvania. A branch line connected Jamestown with Ashtabula, Ohio. The railroad leased itself to the Lake Shore and Michigan Southern Railway in 1864 for 20 years. A 1909 consolidation with three other railroads created the Jamestown, Franklin and Clearfield Railroad, and ended the J&F's existence.
In 1862, George A. Bittenbender, William Gibson, David Hadley, Henry C. Hickok, A. W. Raymond, William Lawrence Scott, and John P. Vincent—all northwestern Pennsylvania businessmen—sought a charter for a shortline railroad in northwestern Pennsylvania. Their goal was to connect the Erie and Pittsburgh Railroad, which had a station in Jamestown, with the oil fields about 25 miles (40 km) to the east-southeast. The Jamestown and Franklin Railroad (J&F) was chartered under an act passed by the Pennsylvania General Assembly on April 5, 1862. It was permitted to build its line from Jamestown in Mercer County, Pennsylvania (about 2 miles (3.2 km) east of the Ohio-Pennsylvania border) to Oil City in Venango County, Pennsylvania. The company had the right to build branches to connect its road to any other railroad nearby, and to purchase any unfinished railroad in either county and complete it. On March 9, 1863, the state legislature amended the company's charter to permit it to purchase up to 5,000 acres (20,000,000 m2) of land adjacent to its line. These purchases could include mineral rights, and the railroad was permitted to open mines or drill for oil. Additionally, the firm's branch lines were limited to just 10 miles (16 km) each. 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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