Keokuk and Des Moines Railway Co. - 1880's-90's dated Railroad Stock Certificate
Inv# RS2342 Stock
Stock printed by Continental Bank Note Co., NY. Two varieties. Available in Yellow Paper or White Paper. Please specify color. Available unissued for $35.
The Keokuk & Des Moines Railway Company, referred to as the Keokuk & Des Moines, operates as a single-track, standard-gauge steam railroad entirely within the State of Iowa. It runs from Keokuk in a northwest direction to Des Moines. The total mileage owned includes 162.285 miles of primary track and 28.008 miles of additional tracks, amounting to a total of 186.293 miles. In terms of corporate history, the Keokuk & Des Moines was established on January 6, 1874, for a duration of 50 years, in accordance with Iowa's general laws.
On February 12, 1874, it acquired the assets, rights, and franchises of the segment of the Des Moines Valley Rail Road Company that connected Keokuk and Des Moines. The Des Moines Valley Rail Road Company was originally incorporated in 1853 under the name Keokuk, Fort Des Moines and Minnesota Railroad, which was later renamed on June 1, 1864. The section of the railroad in question was completed in 1866 but was sold at foreclosure to a committee representing its bondholders on November 10, 1873.
This committee subsequently transferred ownership of the property to the Keokuk & Des Moines on February 12, 1874. On May 14, 1878, the railway was leased to the Chicago, Rock Island and Pacific Railroad Company, which has since operated the property along with its successor.
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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