New York and New Jersey Power Co. - Stock Certificate
Inv# US1028 StockNew York
Stock. Early! Pennsylvania Power & Light Company, the newest of the three companies, was established in 1920 through the merger of eight smaller companies in the Lehigh Valley and northeastern Pennsylvania. By 1923 the Pennsylvania, New York and New Jersey Power Company had been absorbed by PP&L. As it happened, the acquisition included extensive acreage along the Wallenpaupack Creek, permit approval, and plans to build a dam and power plant on the Wallenpaupack. Having acquired the Wallenpaupack project, PP&L hired the Electric Bond and Share Company (EBASCO) to update the design plans. On May 1, 1924, construction began on the dam that would provide water to the new power plant and create Lake Wallenpaupack on the border between Pike and Wayne counties along the falls of the Wallenpaupack Creek, south of its confluence with the Lackawaxen River. Construction of the dam resulted in the creation of the largest man-made lake in Pennsylvania. This 5,800-acre lake extends approximately 13 miles with nearly 52 miles of shoreline. (Reference from psegtransmission.com)
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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