Chicago and North Western Railway Co. - dated 1947-60 Railroad Stock Certificate

Stock printed by American Bank Note Company.

The Chicago and North Western (reporting mark CNW) was a Class I railroad in the Midwestern United States. It was also known as the "North Western". The railroad operated more than 5,000 miles (8,000 km) of track at the turn of the 20th century, and over 12,000 miles (19,000 km) of track in seven states before retrenchment in the late 1970s. Until 1972, when the employees purchased the company, it was named the Chicago and North Western Railway (or Chicago and North Western Railway Company).

The Chicago and North Western Railway was chartered on June 7, 1859, five days after it purchased the assets of the bankrupt Chicago, St. Paul and Fond du Lac Railroad. On February 15, 1865, it merged with the Galena and Chicago Union Railroad, which had been chartered on January 16, 1836. Since the Galena & Chicago Union started operating in December 1848, and the Fond du Lac railroad started in March 1855, the Galena and Chicago Union Railroad is considered to be the origin of the North Western railroad system. Other lines acquired and added to the network included the Chicago, St. Paul and Fond du Lac Railroad in 1859, the Winona and St. Peter Railroad in 1867, the Chicago, Milwaukee and North Western Railway in 1883, the Sioux City and Pacific Railroad in 1880, the Fremont, Elkhorn and Missouri Valley Railroad in 1884, and the Milwaukee, Lake Shore and Western Railway in 1893. They also held extensive property in Michigan, particularly its Upper Peninsula, to the point where they were one of the largest property owners in the state. By 1899, the company had rostered 1,380 locomotives, 1,176 passenger cars, and 49,484 freight cars.