Stony Brook Railroad - Massachusetts Railway Stock Certificate
Inv# RS1207 Stock
Railroad Stock. No vignette but ornate border at left and quite rare!!! The Stony Brook Railroad (formally the Stony Brook Railroad Corporation), chartered in 1845, was a railroad company in Massachusetts, United States. The company constructed a rail line between the Nashua and Lowell Railroad's main line at the village of North Chelmsford and the town of Ayer, Massachusetts (then the village of South Groton) where it connected to the Fitchburg Railroad. Rather than running its own trains, upon opening in 1848 operations were contracted to the Nashua and Lowell; this arrangement continued until the Nashua and Lowell was leased by the Boston and Lowell Railroad in 1880.
The Boston and Maine Railroad (B&M) took over operation of the Stony Brook in 1887 when it leased the Boston and Lowell Railroad. In 1983 the B&M was purchased by Guilford Rail System, which renamed itself Pan Am Railways (PAR) in 2006. Passenger service last ran on the line in 1961, but it saw significant freight service under Pan Am Railways. While it never owned rolling stock or ran trains, the Stony Brook Railroad Corporation existed until 2022 as a nearly wholly owned subsidiary of the Boston and Maine, itself a PAR subsidiary. That year, it was merged into CSX Transportation as part of CSX's purchase of Pan Am Railways.
The Stony Brook Railroad was named after Stony Brook, a tributary of the Merrimack River, which the line follows for several miles. The Stony Brook Railroad was chartered in 1845 by citizens of Lowell, Massachusetts, to connect the city with points south and west. Construction of the line, which connected North Chelmsford and Ayer, was begun in 1847 and completed the following year. As the line approached completion, the Stony Brook decided to contract out train operations to the Nashua and Lowell Railroad (N&L), which connected to the line at its eastern terminus in North Chelmsford, rather than purchasing and operating their own trains. While the Stony Brook Railroad Corporation maintained its existence as the owner of the tracks, the N&L operated the Stony Brook line as a part of its own system, and this continued when the N&L formed a railroad pool with the Boston and Lowell Railroad in 1857. Read more at https://en.wikipedia.org/wiki/Stony_Brook_Railroad
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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