Passaic Valley and Peapack Railroad Co. - 1860's dated Railway Stock Certificate
Inv# RS5481 Stock
Stock. Small size measures 10 1/2" x 5 1/2". The New Jersey West Line Railroad was a proposed railroad running east and west across Northern New Jersey, of which the only part constructed was what is now the Gladstone Branch of New Jersey Transit between Summit and Bernardsville. Some other remains of it can be found in Summit, Millburn, and Union Township.
The earliest charter was granted by the New Jersey Legislature in March 1865 for the Passaic Valley and Peapack Railroad, which was to run from "some point in the county of Union or the county of Essex" via Springfield Township (Union), New Providence, and Basking Ridge to Peapack. The planned route would run between the Morris and Essex Railroad (M&E) in the north and the Central Railroad of New Jersey in the south. Read more at https://en.wikipedia.org/wiki/New_Jersey_West_Line_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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