Montgomery and Erie Railway - Railroad Stock Certificate with Revenue
Inv# RS2670 Stock
Printer-Hosford & Ketcham, NY.
The Lehigh and New England Railroad (L&NE) was organized April 2, 1895 as the successor to the PP&B. The route from Slatington to Pine Island was accomplished but not completed. The L&NE was able to have a route from Slatington to Pine Island even though the route wasn't completed because the L&NE had obtained trackage rights over the New York, Susquehanna and Western Railway's Sparta Junction to Columbia/Delaware Junction main line between Swartswood Junction (outside of Swartswood) and Hainesburg Junction; this line was built by the New Jersey Midland Railway from Sparta Junction to Blairstown, New Jersey and by the Blairstown Railway from Blairstown, New Jersey to Columbia/Delaware Junction and today serves as the Paulinskill Valley Trail. Despite that, a tunnel (40°58′44″N 74°46′1″W) was built under the fill for the Delaware, Lackawanna and Western Railroad's New Jersey Cut-Off (opened 1911) in case the L&NE ever decided to complete its own line. Additionally, the planned route from Pine Island to Campbell Hall was cancelled, and trackage rights were obtained over the Erie Railroad's Goshen and Deckertown Railroad and Montgomery and Erie Railroad.
The Lehigh and Lackawanna Railroad and its leased Wind Gap and Delaware Railroad were operated by the Central Railroad of New Jersey until February 1, 1905, when the two companies were merged into the L&NE. Around the same time the L&NE acquired the Northampton Railroad. This gave the L&NE a branch to Bethlehem, with a branch off that one to Martins Creek. Part of the main line between Benders Junction (the crossing of the original L&NE and the L&L) and Pen Argyl was abandoned in 1905, with the new route using the L&L and WG&D.
The Lehigh Coal and Navigation Company (LC&N) gained control of the L&NE on May 9, 1904.
A yard at Maybrook, New York opened in 1912, with L&NE trains terminating there via a section of the Central New England Railway.
On July 24, 1912 a new extension opened, splitting from the main line at Danielsville, Pennsylvania and running west to Tamaqua to directly serve the LC&N. On December 14, 1913 the L&NE acquired the Panther Creek Railroad, running east from Tamaqua to Summit Hill, and with a connection to the Central Railroad of New Jersey's Hauto Tunnel for access to Nesquehoning obtained in 1915.
On June 4, 1926 the Reading Company leased the L&NE, but other railroads objected, and the Interstate Commerce Commission rejected the lease, preferring a lease by the New York, New Haven and Hartford Railroad (which was never done).
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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