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Newburyport Gas and Electric Co. - Utility Stock Certificate

Inv# US1118   Stock
Newburyport Gas and Electric Co. - Utility Stock Certificate
State(s): Massachusetts
Years: 1908

Stock printed by Bufford's Sons Lith. Co.

Newburyport is a coastal city in Essex County, Massachusetts, United States, 35 miles (56 km) northeast of Boston. The population was 18,289 at the 2020 census. A historic seaport with vibrant tourism industry, Newburyport includes part of Plum Island. The mooring, winter storage, and maintenance of recreational boats, motor and sail, still contribute a large part of the city's income. A Coast Guard station oversees boating activity, especially in the sometimes dangerous tidal currents of the Merrimack River.

At the edge of the Newbury Marshes, delineating Newburyport to the south, an industrial park provides a wide range of jobs. Newburyport is on a major north-south highway, Interstate 95. The outer circumferential highway of Boston, Interstate 495, passes nearby in Amesbury. The Newburyport Turnpike (U.S. Route 1) still traverses Newburyport on its way north. The Newburyport/Rockport MBTA commuter rail from Boston's North Station terminates in Newburyport. The earlier Boston and Maine Railroad leading farther north was discontinued, but a portion of it has been converted into a recreation trail.

On January 28, 1764, the General Court of Massachusetts passed "An act for erecting part of the town of Newbury into a new town by the name of Newburyport." The act begins:

Whereas the town of Newbury is very large, and the inhabitants of that part of it who dwell by the water-side there, as it is commonly called, are mostly merchants, traders and artificers, and the inhabitants of the other parts of the town are chiefly husbandmen; by means whereof many difficulties and disputes have arisen in managing their public affairs – Be it enacted ... That that part of the said town of Newbury ... be and hereby are constituted and made a separate and distinct town ....

The act was approved by Governor Francis Bernard on February 4, 1764. The new town was the smallest in Massachusetts, covering an area of 647 acres (2.62 km2), and had a population of 2,800 living in 357 homes. There were three shipyards, no bridges, and several ferries, one of which at the foot of Greenleaf Lane, now State Street, carried the Portsmouth Flying Stage Coach, running between Portsmouth, New Hampshire, and Boston.

The town prospered and became a city in 1851. Situated near the mouth of the Merrimack River, it was once a fishing, shipbuilding and shipping center, with an industry in silverware manufacture. In 1792, a bridge was built two miles above the town where the river contained an island. Merrimack Arms and Brown Manufacturing Company made Southerner Derringer pistols in their Newburyport factory from 1867 to 1873. The sea captains of old Newburyport (as elsewhere in Massachusetts) had participated vigorously in the triangular trade, importing West Indian molasses and exporting rum made from it. The distilleries were located around Market Square near the waterfront. Caldwell's Old Newburyport rum was manufactured locally until 1961.

Newburyport once had a fishing fleet that operated from Georges Bank to the mouth of the Merrimack River. It was a center for privateering during the Revolutionary War and War of 1812. Beginning about 1832, it added numerous ships to the whaling fleet. Later, clipper ships were built there. Today, the city gives little hint of its former maritime importance. Notably missing are the docks, which are shown on earlier maps extending into the channel of the Merrimack River, and the shipyards, where the waterfront parking lot is currently located.

George Whitefield, the well-known and influential English preacher who helped inspire the First Great Awakening in America, arrived in Newburyport in September 1740. The revival that followed his labors, brought into existence Old South Church, where he was buried after his death in 1770.

The city's historical highlights include:

Historic events:

  • First of many clipper ships built here
  • First "Tea Party" rebellion to oppose British Tea Tax
  • First state mint and treasury building
  • Newburyport Superior Courthouse, the oldest continuously active courthouse in Massachusetts

The Newburyport Five Cents Savings Bank on State Street was founded in 1854, and is one of the oldest banks in the United States still in operation.

Historic houses and museums:

  • Cushing House Museum & Garden (c. 1808)
  • Newburyport Custom House Museum (1835), designed by Robert Mills

Literary interests:

  • Was referred to in the H. P. Lovecraft story, "The Shadow Over Innsmouth", as being located near Innsmouth. Lovecraft in fact based his depiction of Innsmouth largely on Newburyport.
  • Subject of the most ambitious community study ever undertaken, the Yankee City project conducted by anthropologist W. Lloyd Warner and his associates

Despite its former prosperity, in the 1950s and 1960s Newburyport's center fell into disrepair because of several factors, most notably strip malls taking away from local business and increased use of the automobile. At this time, construction of major highways brought larger cities such as Lawrence and Lowell into shopping range. Consequently, by 1970 Newburyport's historic downtown section was scheduled to be razed prior to reconstruction with federal money. Ideas to rebuild the city's downtown were numerous, ranging from hotels and new stores to, ironically, a strip mall, with few buildings left for historical reasons. At the last moment, however, the city changed its mind and signed a federal grant that allowed it to keep most of its historic architecture. Renovation and restorations began during the early 1970s, and continued throughout most of the decade, initially along State Street, and culminating with creation of a pedestrian mall along Inn Street. Newburyport is often cited as an example by preservationists of how to maintain a city's architecture and heritage, while still having it remain functional and liveable.

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Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
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