Cleveland and Toledo Railroad Co. - 1850's-60's dated Ohio Railway Stock Certificate
Inv# RS1061 Stock
Cleveland and Toledo Railroad Company Railroad Stock. Great train vignette. Also available unissued at a lesser price. Please inquire if interested.
The Junction Railroad was chartered on March 2, 1846, to construct a rail line from Cleveland to Toledo. Subsequently, the Toledo, Norwalk and Cleveland Railroad was chartered on March 7, 1850, to build eastward from Toledo to Grafton, where it would connect with the Cleveland, Columbus and Cincinnati Railroad. This completed a continuous rail route from Buffalo to Chicago when it opened on January 24, 1853. On September 1, 1853, the Junction Railroad and the Toledo, Norwalk and Cleveland Railroad merged to form the Cleveland and Toledo Railroad. In this new configuration, the Junction Railroad became the Northern Division and the Toledo, Norwalk and Cleveland Railroad became the Southern Division.
The Northern Division opened its line from Cleveland to Sandusky on October 24, 1853, and extended to Toledo by April 24, 1855. However, the portion of the Northern Division west of Sandusky was abandoned due to insufficient traffic but was relaid in 1872, merging with the Southern Division at Millbury, east of Toledo. The Southern Division line east of Oberlin was abandoned in 1866, and a new route was constructed to Elyria on the Northern Division, replacing the previous Cleveland, Columbus and Cincinnati Railroad segment.
In October 1867, the Cleveland, Painesville and Ashtabula Railroad leased the Cleveland and Toledo Railroad. The CP&A renamed itself the Lake Shore Railway on March 31, 1868, and on February 11, 1869, the Lake Shore absorbed the Cleveland and Toledo. On April 6, 1869, the Michigan Southern and Northern Indiana Railroad merged with Lake Shore to form the Lake Shore and Michigan Southern Railway, which subsequently absorbed the Buffalo and Erie Railroad on June 22, completing a unified route from Buffalo to Chicago.
The main line of the Lake Shore and Michigan Southern Railway passed through Dunkirk, NY; Erie, PA; Ashtabula, OH; Cleveland, OH; Toledo, OH; Waterloo, IN; and South Bend, IN. An alternate route, known as the Sandusky Division, ran north of the main line between Elyria and Millbury, with some tracks not completed until 1872. From Toledo to Elkhart, the Old Road route ran through southern Michigan, while the Air Line Division or Northern Indiana Air Line served as the primary route. Additionally, the Monroe Branch ran east from Adrian, MI, to Monroe, intersecting with the leased Detroit, Monroe and Toledo Railroad. The original line west of Jackson, MI, was abandoned with a new connection established at Lenawee Junction, where the branch met the line to Monroe.
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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