Pennsylvania New York Central Transportation Co. - 1960's dated Railroad Stock Certificate - Great Railway History
Inv# RS1255 Stock
Railroad Stock. Vignette of Mercury figure with a city,plane,truck, and train in the background. The Penn Central Transportation Company, often referred to as Penn Central, was a prominent American class I railroad that functioned from 1968 to 1976. This entity was formed through the amalgamation of three railroads: the Pennsylvania Railroad (PRR), the New York Central Railroad (NYC), and the New York, New Haven and Hartford Railroad (NH), with the latter being incorporated into Penn Central in 1969.
The legal foundation of what became the Penn Central Transportation Company was rooted in the Pennsylvania Railroad, which integrated the New York Central during the initial merger in 1968 and adopted the Penn Central name to signify this union. Following the merger with the New York Central, the company continued to operate from its headquarters in Philadelphia. By 1970, it had filed for bankruptcy, which was the largest in U.S. history at that time.
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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