Baltimore and Ohio Railroad Co. Issued to and Signed by William L. Harkness - 1906 dated Stock CertificateInv# AG2328 Stock
Stock issued to and signed on the back by William Lamon Harkness.
William Lamon Harkness (August 8, 1858 – May 10, 1919) was an American businessman and inheritor of a large share of Standard Oil. William Lamon Harkness was born in Bellevue, Ohio, the son of Daniel M. Harkness, who was the half-brother of both Henry Flagler and Stephen V. Harkness, both founders of Standard Oil, and his wife Isabella Harkness. Upon his father Daniel's death in 1896, he inherited a large share in Standard Oil, a company in which his father had been an early shareholder. He is also a cousin of noted philanthropist Edward Harkness who also benefited from his father's involvement with Standard Oil. Will attended Bellevue Public Schools in Bellevue, Ohio and The Brooks Military School in Cleveland. In 1881, Harkness graduated from Yale University.
In 1896, he moved from Cleveland, Ohio to a home at 12 East 53rd Street in New York City. He also owned a country home, Dosoris, at Glen Cove on Long Island. A yachtsman and sportsman, he was a member of The Union Club of Cleveland, the New York Yacht Club, the Seawanhaka Corinthian Yacht Club and Piping Rock Club.In August 1911 while in command of his steam yacht Gunilda on Lake Superior he ran her aground, due to his failure in recognizing a requirement for a pilot and then compounding the matter by not hiring tugs at the appropriate time. She would sink in days. He put in a claim against the ship's insurer, Lloyds of London for about $132,000 dollars, and received $100,000 compensation. Shortly before his death, Harkness donated $400,000 to Yale University. The William L. Harkness Hall at Yale University was completed in 1927 as the gift of Mr. W.L. Harkness, B.A. 1881, and his family. It is a Collegiate Gothic building of Aquia sandstone with Ohio sandstone trim and contains offices and lecture & recitation rooms for the French, German, and Music departments. William Adams Delano was the architect. Read more at https://en.wikipedia.org/wiki/William_L._Harkness
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.