Utica and Schenectady Railroad - Stock Certificate
Inv# RS2790 Stock
Transfer. Rare!
The Utica and Schenectady Railroad was chartered April 29, 1833; as the railroad paralleled the Erie Canal it was prohibited from carrying freight. Revenue service began August 2, 1836, extending the line of the Albany and Schenectady Railroad west from Schenectady along the north side of the Mohawk River, opposite the Erie Canal, to Utica. On May 7, 1844, the railroad was authorized to carry freight with some restrictions, and on May 12, 1847, the ban was fully dropped, but the company still had to pay the equivalent in canal tolls to the state.
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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