Brooklyn-Manhattan Transit Corp. - 1940 dated New York Railroad Stock Certificate
Inv# GS6571 Stock
Stock printed by Quayle & Son, Albany, N.Y. The Brooklyn–Manhattan Transit Corporation (BMT) was an urban transit holding company, based in Brooklyn, New York City, United States, and incorporated in 1923. The system was sold to the city in 1940. Today, together with the IND subway system, it forms the B Division of the modern New York City Subway. The Brooklyn–Manhattan Transit Corporation took over the assets of the Brooklyn Rapid Transit Company on June 15, 1923, following the previous company's bankruptcy. Like its predecessor it controlled subsidiaries which operated the great majority of the rapid transit and streetcar lines in Brooklyn with extensions into Queens and Manhattan. One of these, New York Rapid Transit Corporation operated the elevated and subway lines.
In 1923, their president, Gerhard Melvin Dahl, published a document called "Transit Truths" to explain the issues the company faced. In it he complained that the company had "met with the bitter, personal and unfair opposition of Mayor Hylan." In a separate letter to Hylan he said: "For seven years, you have been misleading and fooling the people in this community… For seven years, you have blocked every effort at transit relief. You, and only you, are to blame for the present…deplorable condition of the whole transit situation. You have used the transit situation as a political escalator". Read more at https://en.wikipedia.org/wiki/Brooklyn%E2%80%93Manhattan_Transit_Corporation
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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