Central of Georgia Railway Company - Stock CertificateInv# RS1030 Stock
Railroad Stock. Portrait of male with hammer. Rare vignette. A railroad from a scarce popular state. Available in Brown, Green or Orange. Please specify color.
The Central of Georgia Railway (reporting mark CG) started as the Central Rail Road and Canal Company in 1833. As a way to better attract investment capital, the railroad changed its name to Central Rail Road and Banking Company of Georgia. This railroad was constructed to join the Macon and Western Railroad at Macon, Georgia, in the United States, and run to Savannah. This created a rail link from Chattanooga, on the Tennessee River, to seaports on the Atlantic Ocean. It took from 1837 to 1843 to build the railroad from Savannah to the eastern bank of the Ocmulgee River at Macon; a bridge into the city was not built until 1851.
Over the years, this railroad steadily acquired other railroads by either lease or purchase:
- Augusta and Savannah Railroad 1862
- Eatonton Branch Railroad 1855
- Milledgeville and Eatonton Railroad 1855
- Milledgeville and Gordon Railroad 1855
- Mobile and Girard Railroad 1886
- Girard Railroad 1857
- Savannah and Tybee Railroad 1890
- Savannah and Western Railroad 1890
- Chattanooga, Rome and Columbus Railroad 1891
- Columbus and Rome Railroad 1888
- Columbus and Western Railroad 1888
- East Alabama Railroad 1888
- Savannah, Griffin and Northern Alabama Railroad 1890
- Southwestern of Georgia Railroad 1869
- Upson County Railroad 1891
In 1888, the Richmond Terminal Company, a Virginia holding company, gained control of the Central. The financial problems of the parent company forced the CofG into bankruptcy, and it was sold at foreclosure three years later, being reorganized as the Central of Georgia Railway on November 1, 1895.
In 1907 railroad magnate and financier E. H. Harriman gained a controlling interest in the railway, and in 1909 sold his interest to the Illinois Central Railroad, which he also controlled. In 1932, during the Great Depression, the CofG went into receivership, from which it did not emerge until 1948. In 1956, the St. Louis-San Francisco Railway ("Frisco"), seeking a route to Atlantic Ocean ports, gained control of the CofG, but the Interstate Commerce Commission declined to approve a merger of the two roads, so the Frisco sold its CofG stock to the Southern Railway in 1963.
At the end of 1956 the CofG operated 1,764 miles (2,839ákm) of road and 2,646 miles (4,258ákm) of track; that year it reported 3208 million net ton-miles of revenue freight and 73 million passenger-miles. Those totals do not include the 144-mile (232ákm) Savannah and Atlanta, the 10-mile (16ákm) L&W, the 20-mile (32ákm) Wadley Southern or the 36-mile (58ákm) Wrightsville and Tennille.
The CofG became a Southern Railway subsidiary on June 17, 1963. In 1971 the Southern formed the Central of Georgia Railroad to merge the Central of Georgia Railway, the Savannah and Atlanta Railway, and the Wrightsville and Tennille Railroad.
The famous passenger train the Nancy Hanks II (1947-1971) ran from Atlanta to Savannah, via Macon. It had the two added on the end to distinguish it from a short lived train the Central sal in the 1890s. Another notable train was the Man o' War (1947-1971), a Columbus - Atlanta route, via Newnan. Both of these trains were named after prize-winning racehorses. When Amtrak took control of the Southern Railway's passenger service in 1971, The Southern decided to discontinue the aforementioned trains.
Long distance inter-state trains operated on Central of Georgia tracks as part of their itineraries: City of Miami (Chicago-Miami), Southland (Chicago & Cincinnati to St. Petersburg), Flamingo (Cincinnati-Jacksonville) and Seminole (Chicago-Jacksonville).
Well into the 1960s, CofG trains remained segregated, long after most Southern railroads abolished racial bars following a desegregation order by the Interstate Commerce Commission. The CofG only operated in Georgia, and some parts of Alabama, and was thus not engaged in interstate commerce.
Today, the Central of Georgia exists only as a paper railroad within the Norfolk Southern Railway group. 42 miles (68ákm) of the CofG's former mainline are currently leased by the Chattooga and Chickamauga Railway from the State of Georgia.
A number of former properties of Central of Georgia are preserved as historic sites. These include the following, listed on the National Register of Historic Places:
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.