Beech Creek Railroad Co. Issued to Cornelius Vanderbilt - Stock Certificate
Inv# AG2359 Stock
Stock issued to but not signed by Cornelius Vanderbilt II.
Cornelius Vanderbilt II (1843-1899) was a prominent financier and the third-generation leader of the Vanderbilt family.
As the favored grandson of Cornelius Vanderbilt, he inherited $5 million, and as the eldest son of William Henry Vanderbilt, he received nearly $70 million. In 1885, he took over as the head of the New York Central and its associated railroad lines. Known for his intense work ethic, a stroke in 1896 forced him to scale back his direct involvement in business. Despite his retirement from active management, he continued to serve in an advisory capacity for the various investments held by him and his family. He was recognized as a skilled and prudent railroad manager, as well as an excellent accountant, having mastered the complexities of the banking sector during his tenure with the Shoe and Leather Bank of New York. From 1885 until his premature death in 1899, the stock value of the major railroads associated with the Vanderbilt name increased significantly, reaching an impressive $173,497,000 above their initial worth when he took charge. Known for his kindness, charitable nature, and democratic principles, he earned the admiration of employees across all levels of the Vanderbilt railroad enterprises. Unlike many of his contemporaries, Cornelius found little joy in yachting or horse racing, instead deriving fulfillment from philanthropy, classical music, fine art, and beautiful architecture.
He was married to Alice Claypoole Gwynne (1852-1934), and they had several children. Their eldest son, William Henry Vanderbilt II (1870-1892), tragically passed away while still a junior at Yale University, prompting Cornelius to fund a substantial dormitory in his memory. He chose to disinherit his second son, Cornelius Vanderbilt III (1873-1942), due to his marriage without parental consent. His third son, Alfred Gwynne Vanderbilt (1877-1915), perished in the sinking of the RMS Lusitania. The couple's surviving son was Reginald Claypoole Vanderbilt, while their daughters included Gertrude Vanderbilt Whitney and Countess Gladys Vanderbilt Széchenyi.
Upon his passing, the leadership of the family was transferred to his brother, William Kissam Vanderbilt. His charitable contributions were so significant that he did not augment the wealth he inherited.
The Beech Creek Railroad was a now-defunct railway that functioned in central Pennsylvania, connecting Jersey Shore to Mahaffey. It was initially chartered in 1882 and subsequently leased to the New York Central and Hudson River Railroad, which later became known as the New York Central Railroad, in 1890. Following this lease, the railroad was operated directly by that company. Although much of the line was abandoned during the latter half of the 20th century, some sections at both ends remain operational.
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.
Ebay ID: labarre_galleries