White Electric Traction Co. - Unissued Pennsylvania Railroad Stock Certificate
Inv# RS4900 Stock
Unissued Stock printed by Homer Lee Bank Note Co., N.Y. The White Electric Traction Company was incorporated in Pennsylvania on November 26, 1890. The company ran a line from McKeesport to Cochran Station in Duquesne. The company built White's Bridge - named after T.L. White and James E. White of the White Electric Traction Company - to connect the cities of McKeesport and Duquesne. The bridge was built in 1891. It provided a passenger link to the Pennsylvania Railroad passenger depot in Duquesne as the PRR line into McKeesport offered only freight service. The proposed Alliquippa Incline from the bridge to the heights above Duquesne was never built. Financial mismanagement forced the Whites into bankruptcy. On April 1, 1896 the line was leased to the McKeesport, Duquesne and Wilmerding Railway Company. It eventually became part of the West Penn Power system. (From Ghostsofwallstreet.com)
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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