Baltimore and Ohio Rail-Road Company signed by John W. GarrettInv# AG1515 Stock
Stock sign by 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 first common carrier railroad and the oldest railroad in the United States, with its first section opening in 1830. It came into being mostly because the city of Baltimore wanted to compete with the newly constructed Erie Canal (which served New York City) and another canal being proposed by Pennsylvania, which would have connected Philadelphia and Pittsburgh. At first this railroad was located entirely in the state of Maryland, with an original line built from the port of Baltimore west to Sandy Hook. At this point to continue westward, it had to cross into Virginia (now West Virginia) over the Potomac River, adjacent to the confluence of the Potomac and Shenandoah rivers. From there it passed through Virginia from Harpers Ferry to a point just west of the junction of Patterson Creek and the North Branch Potomac River, where it crossed back into Maryland to reach Cumberland. From there it was extended to the Ohio River at Wheeling and a few years later also to Parkersburg, West Virginia. It continued to construct lines into Ohio, including a junction at Portsmouth. In later years, B&O advertising carried the motto: "Linking 13 Great States with the Nation." As part of a series of mergers, the B&O is now part of the CSX Transportation (CSX) network. The B&O also included the Leiper Railroad, the first permanent horse-drawn railroad in the U.S. At the end of 1970, the B&O operated 5,552 miles of road and 10,449 miles of track, not including the Staten Island Rapid Transit (SIRT) or the Reading and its subsidiaries. It includes the oldest operational railroad bridge in the United States. When CSX established the B&O Railroad Museum as a separate entity from the corporation, it donated some of the former B&O Mount Clare Shops in Baltimore, including the Mt. Clare roundhouse, to the museum, while selling the rest of the property. The B&O Warehouse at the Camden Yards rail junction in Baltimore now dominates the view over the right-field wall at the Baltimore Orioles' current home, Oriole Park at Camden Yards. Part of the B&O Railroad's immortality has come from being one of the four featured railroads on the U.S. version of the board game Monopoly. It is the only railroad on the board that did not directly serve Atlantic City, New Jersey. (Wikipedia)
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.