Madison and Indianapolis Railroad - 1856-61 dated Indiana Railway Stock Certificate
Inv# RS2657 Stock
New York
Printer-Nathan Lane & Company, NY. Early & Rare! On January 27, 1836, an act of the Indiana General Assembly established Indiana's first railroad to actually be built. Construction began on the state-owned Madison & Indianapolis Railroad on September 16, 1836. After building only 27.80 miles (44.74 km) from Madison to Queensville (just northwest of North Vernon in Jennings County) by 1841, the railroad was transferred to private ownership on June 20, 1842, as the Madison & Indianapolis Railroad Company. This entity completed the remainder of the line from Queensville to Indianapolis, a distance of 57.99 miles (93.33 km), by 1847. Although it was successful for more than a decade, it went into decline, was sold at foreclosure on March 27, 1862, & renamed the Indianapolis & Madison Railroad (I&M). The successor company abandoned the M&I's 10.09 miles (16.24 km) of trackage between Columbus & Edinburgh in 1864 & began running over the Jeffersonville Railroad's nearby tracks. Read more at https://en.wikipedia.org/wiki/Jeffersonville,_Madison_and_Indianapolis_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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