Petroleum Steam Barrel Co. - 1865 dated Stock Certificate
Inv# OS2074 Stock
Stock issued to Thomas A. Scott but not signed with 25 cents revenue stamp! Civil War era dated! Uncancelled and not negotiable.
Thomas A. Scott (1823-1881) Railroad executive. In August 1861, based on his previous railroad experience, Scott was appointed assistant secretary of war with responsibility for supervising all government railways and transportation lines, and brought with him in this position his personal secretary, Andrew Carnegie. In mid-1862, Scott left this position to begin an extended and brilliant career with the Pennsylvania Railroad, becoming president of that line in June 1874. Scott was president of numerous other railroads during his career as well, among them the Union Pacific 1871-72, and the Texas & Pacific (1872-80). Scott is well known for his attempt at monopolizing the transportation of the oil regions via the South Improvement Company. This was essentially a battle against John D. Rockefeller and the Standard Oil Company interests which sparked a bitter struggle resulting in victory for the vast oil empire. Failing to defeat Rockefeller at his own game, Scott liquidated the company in the spring of 1872.
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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