Mohawk and Malone Railway Co. - Stock Certificate
Inv# RS5408 Stock
Stock printed by L.W. Lawrence, NY. Only 68 Certificates issued. Dr. William Seward Webb's Mohawk and Malone Railway crossed the northern Adirondacks at Tupper Lake Junction, just north of Tupper Lake. Webb was president of the Wagner Palace Car Company. He began by purchasing the narrow gauge Herkimer, Newport and Poland Railroad, which ran 16 miles from Herkimer to Poland, converting its trackage to standard gauge and straightening it to avoid multiple crossings of the West Canada Creek. He then had track built from Tupper Lake to Moira and thence to Montreal. This was called variously the Adirondack and St. Lawrence Railroad and the Mohawk and Malone. After 1893, it was controlled by the New York Central and Hudson River Railroad. It opened in 1892 from Malone Junction to Childwold Station with a branch from Lake Clear Junction to Saranac Lake.
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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