Union Railway Co. - 1895 dated Railroad Stock Certificate
Inv# RS4518A Stock
Stock with some glue residue. Chester, Pennsylvania. Union Railroad (reporting mark URR) is a Class III switching railroad situated in Allegheny County, Western Pennsylvania. It is owned by Transtar, Inc., a subsidiary of Fortress Transportation and Infrastructure Investors, following its acquisition from U.S. Steel in 2021.
Andrew Carnegie engaged in discussions regarding rail transport with various companies but ultimately decided that the most effective way to safeguard his interests was to take control of the rail line himself. Several smaller enterprises had previously constructed segments of the route. The Bear Creek Railroad, which was later renamed Shenango and Allegheny Railroad Co., was established in March 1865 with the objective of transporting coal over a distance of 21 miles from Pardoe to Shenango for distribution to other railroads and the Erie Extension Canal. By 1883, the Shenango and Allegheny had expanded northward to Greenville, Pennsylvania, and southward to Butler, Pennsylvania. By 1892, the line had further extended north to the port of Conneaut, Ohio. These extensions were identified by their own corporate names and endured a series of corporate reorganizations, ultimately evolving into the Pittsburgh, Shenango and Lake Erie. The rail line had reached Butler, which remained 40 miles away from the Mon Valley.
The arrival of the first ore boat in Conneaut in 1892 piqued Andrew Carnegie's interest. In April 1896, a tripartite agreement was established among PS&LE, Union Railroad Company, and Carnegie Steel Company to construct a line from Butler to East Pittsburgh. The Butler and Pittsburgh Railroad Company was incorporated on April 8, 1896, and was completed remarkably by October 27, 1897, featuring a long, single-track bridge spanning the Allegheny River. Additionally, in 1897, PS&LE and B&P were merged into the Pittsburgh, Bessemer & Lake Erie, under the majority ownership of Carnegie. The Union Railroad, often referred to as the "railroad in the sky," was established in 1896. The current form of the railroad is the result of the amalgamation of five distinct railroads between 1906 and 1915.
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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