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Baltimore and Ohio Rail Road Co. signed by J.W. Garrett and Robt. Garrett - Stock Certificate

Inv# AG1973   Stock
Baltimore and Ohio Rail Road Co. signed by J.W. Garrett and Robt. Garrett - Stock Certificate
State(s): Maryland
Ohio
Years: 1879

Stock issued to Robt. Garrett and signed by him on the back. Signed as president by J.W. Garrett on front.

John Work Garrett  (July 31, 1820 – September 26, 1884) was an American banker, philanthropist, and president of the Baltimore and Ohio Railroad (B&O). In 1855, he was named to the board of the B&O, and in 1858, became its president, a position he held until the year he died. His tenure was marked by his support for the Union cause during the Civil War, the expansion of the railroad to reach Chicago, Illinois, and his struggles with the Pennsylvania Railroad over access to New York City. Many places are named in his honor, including: * Garrett, Indiana * Garrett County, Maryland * Garrett Park, Maryland * Garrett, Pennsylvania After the war, Garrett acquired three gunboats that had been used in the blockade service and refitted them into packet ships, establishing the first regular line service from Baltimore, Maryland, to Liverpool, Pennsylvania. He was also associated with several telegraph companies. Following the Great Railroad Strike of 1877, Garrett in 1880 was one of the organizers of the B&O Employees' Relief Association. The B&O provided its initial endowment and assumed all administrative costs. Worker coverage included sickness, indefinite time for recovery from accidents, and a death benefit. In 1884 Garrett was instrumental in negotiating the loans which allowed the B&O to extend its main line to Philadelphia and through the Philadelphia and Reading Railroad to reach New York City. Garrett, a trustee of the Peabody Institute, asked its founder, George Peabody, to persuade Johns Hopkins to make the bequest that would make possible the Johns Hopkins University and Medical Institutions. Garrett became one of the most active trustees of the university.

The Baltimore and Ohio Railroad (reporting marks B&O, BO) was the pioneering common carrier railroad and the oldest railroad in the United States. Its inaugural section opened in 1830. Merchants from Baltimore, which had benefited from the construction of the National Road early in the century, sought to maintain their competitive advantage in trade with trans-Appalachian settlers. This competition was fueled by the newly constructed Erie Canal, which served New York City, and another canal being proposed by Pennsylvania that would connect Philadelphia and Pittsburgh. Additionally, the Chesapeake and Ohio Canal, which connected to Washington, D.C., although it never reached Ohio, and the James River Canal, which directed traffic toward Richmond and Norfolk, Virginia, were also contenders. Initially, the B&O was confined to Maryland, with its original line extending from Baltimore’s port west to Sandy Hook (opened in 1834). From Sandy Hook, it connected with Harper’s Ferry by boat, then by the Wager Bridge, across the Potomac into Virginia. It also connected with the navigable Shenandoah River. However, competition with the Chesapeake and Ohio Canal for trade with coal fields in western Maryland prevented the B&O from using the C&O right-of-way west of Harpers Ferry. To continue westward through the Appalachian Mountains, the B&O constructed the B & O Railroad Potomac River Crossing (1837) at Harpers Ferry, Virginia (since 1863, West Virginia).

The line extended through Virginia, reaching a point just west of the junction of Patterson Creek and the North Branch Potomac River. From there, it crossed back into Maryland and reached Cumberland in 1842, connecting with the National Road, the primary route westward. In 1852, it reached the Ohio River at Moundsville, Virginia, and in 1853, it reached Wheeling, where it established a terminus. A few years later, in 1857, it also reached Parkersburg, Virginia, below rapids that posed challenges to navigation during certain periods of the year. The Baltimore and Ohio Railroad played a pivotal role in Union success during the American Civil War, although the conflict also resulted in significant damage and repair costs. After the war’s conclusion, the B&O consolidated several feeder lines in Virginia and West Virginia and expanded westward into Ohio, including a junction at Portsmouth, Indiana, and Illinois. B&O advertising later adopted the motto: “Linking 13 Great States with the Nation.”

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Condition: Excellent

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.

Item ordered may not be exact piece shown. All original and authentic.
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