Chateaugay and Lake Placid Railway Co. - circa 1920's Unissued Railroad Stock Certificate
Inv# RS5249 Stock
Unissued Stock printed by American Bank Note Co., New York, Litho. This railroad operated from 1903 to 1957 and then became part of the Delaware and Hudson Canal which was last used on November 5, 1891, and the gravity railroad closed January 3, 1899. On April 28, 1899, the name was changed to the Delaware and Hudson Company to reflect the lack of a canal, which was sold in June of that year. Between Port Jackson and Ellenville, the right-of-way for the canal was used by the Ellenville and Kingston Railroad, a branch of the New York, Ontario and Western Railway, chartered in 1901 and opened in 1902.
In 1903, the D&H organized the Chateaugay and Lake Placid Railway as a consolidation of the Chateaugay Railroad, Chateaugay Railway, and Saranac and Lake Placid Railway. In conjunction with the Plattsburgh and Dannemora Railroad, which had been leased by the Chateaugay Railroad, this formed a long branch from Plattsburgh west and south to Lake Placid. Read more at https://en.wikipedia.org/wiki/Delaware_and_Hudson_Railway
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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