New York, Lackawanna and Western Railway - 1934-44 dated Railroad Stock Certificate
Inv# RS2866 Stock
American Bank Note Co., New York. Quite rare these days. The "New York, Lackawanna and Western Railroad" was chartered August 26, 1880, and opened September 17, 1882, to continue the DL&W from Binghamton west and northwest to Buffalo. The main line ran to the International Bridge to Ontario, and a branch served downtown Buffalo. A spur from Wayland served Hornellsville (Hornell). On December 1, 1903, the DL&W began operating the Erie and Central New York Railroad, a branch of the Oswego line from Cortland Junction east to Cincinnatus. That same year, they also began to control the Bangor and Portland Railway. By 1909, the DL&W controlled the Bangor and Portland Railway. This line branched from the main line at Portland, Pennsylvania southwest to Nazareth, with a branch to Martins Creek. The DL&W built a Beaux-Arts terminal in Hoboken in 1907, and another Beaux-Arts passenger station (now a Radisson hotel) in Scranton the following year. A new terminal was constructed on the waterfront in Buffalo in 1917.
The "Lackawanna Railroad of New Jersey", chartered on February 7, 1908, to build the Lackawanna Cut-Off (a.k.a. New Jersey Cutoff or Hopatcong-Slateford Cutoff), opened on December 24, 1911. This provided a low-grade cutoff in northwestern New Jersey. The cutoff included the Delaware River Viaduct and the Paulinskill Viaduct, as well as three concrete towers at Port Morris and Greendell in New Jersey and Slateford Junction in Pennsylvania. From 1912 to 1915, the Summit-Hallstead Cutoff (a.k.a. Pennsylvania Cutoff or Nicholson Cutoff) was built to revamp a winding and hilly system between Clarks Summit, Pennsylvania, and Hallstead, Pennsylvania. This rerouting provided another quicker low-grade line between Scranton and Binghamton. The Summit Cut-Off included the massive Tunkhannock Viaduct and Martins Creek Viaduct. The Lackawanna's cutoffs had no at-grade crossings with roads or highways, allowing high-speed service. Read more at https://en.wikipedia.org/wiki/Delaware,_Lackawanna_and_Western_Railroad
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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