5,000 Shares of New York and Northern Railway Co. - 1893 dated Stock Certificate - High Number of Shares
Inv# HD1070 Stock
5,000 shares Stock printed by Franklin Bank Note Co., New York. In 1887, the company entered receivership and was subsequently restructured as the New York & Northern Railway. By 1894, it underwent another reorganization, becoming the New York & Putnam Rail Road Company (NY&P) under the direction of J. P. Morgan, who leased the railroad to the New York Central & Hudson River Railroad (NYC&HR). Ultimately, by 1913, the line was integrated into the Putnam Division of the New York Central Railroad (NYC). However, the line's lack of a direct link to New York City's primary station, Grand Central Terminal (GCT), negatively impacted ridership throughout its operational period. Commuters during the workweek and tourists on weekends were required to transfer at Highbridge to access GCT. The electrification of the Sedgwick Avenue-Van Cortlandt section and the Yonkers Branch took place in 1926.
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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