Chicago, Burlington and Quincy Railroad Co. signed by John Jay - Stock CertificateInv# AG2437 Stock
Stock signed by John Jay on back. Possibly a relative?
John Jay (December 12, 1745 – May 17, 1829) was an American statesman, patriot, diplomat, Founding Father, abolitionist, negotiator, and signatory of the Treaty of Paris of 1783. He served as the second governor of New York and the first chief justice of the United States (1789–1795). He directed U.S. foreign policy for much of the 1780s and was an important leader of the Federalist Party after the ratification of the United States Constitution in 1788.
Jay was born into a wealthy family of merchants and New York City government officials of French Huguenot and Dutch descent. He became a lawyer and joined the New York Committee of Correspondence, organizing American opposition to British policies such as the Intolerable Acts in the leadup to the American Revolution. Jay was elected to the First Continental Congress, where he signed the Continental Association, and to the Second Continental Congress, where he served as its president. From 1779 to 1782, Jay served as the ambassador to Spain; he persuaded Spain to provide financial aid to the fledgling United States. He also served as a negotiator of the Treaty of Paris, in which Britain recognized American independence. Following the end of the war, Jay served as Secretary of Foreign Affairs, directing United States foreign policy under the Articles of Confederation government. He also served as the first Secretary of State on an interim basis.
A proponent of strong, centralized government, Jay worked to ratify the United States Constitution in New York in 1788. He was a co-author of The Federalist Papers along with Alexander Hamilton and James Madison, and wrote five of the eighty-five essays. After the establishment of the new federal government, Jay was appointed by President George Washington the first Chief Justice of the United States, serving from 1789 to 1795. The Jay Court experienced a light workload, deciding just four cases over six years. In 1794, while serving as Chief Justice, Jay negotiated the highly controversial Jay Treaty with Britain. Jay received a handful of electoral votes in three of the first four presidential elections, but never undertook a serious bid for the presidency.
Jay served as the Governor of New York from 1795 to 1801. Although he successfully passed gradual emancipation legislation as governor of the state, he himself owned five enslaved people as late as 1800. In the waning days of President John Adams's administration, Jay was confirmed by the Senate for another term as Chief Justice, but he declined the position and retired to his farm in Westchester County, New York.
The New York and Harlem Railroad (now the Metro-North Railroad's Harlem Line) was one of the first railroads in the United States, and was the world's first street railway. Designed by John Stephenson, it was opened in stages between 1832 and 1852 between Lower Manhattan to and beyond Harlem. Horses initially pulled railway carriages, followed by a conversion to steam engines, then one to battery-powered Julien electric traction cars. In 1907 the then leaseholders of the line, New York City Railway, a streetcar operator, went into receivership. Following a further receivership in 1932 the New York Railways Corporation converted the line to bus operation. The Murray Hill Tunnel now carries a lane of road traffic, but not the buses.
The line became part of the New York Central Railroad system with trackage rights granted to the New York, New Haven and Hartford Railroad into Manhattan. It is now part of the Metro-North Railroad system, and the only Manhattan trackage of that system. As of 2017, Metro-North operates commuter passenger service from Grand Central Terminal, via Southeast (change from electric to diesel power), to Wassaic. The trackless right-of-way from Wassaic to Chatham is being converted to the Harlem Valley Rail Trail.
The company was incorporated on April 25, 1831 as the New York and Harlem Railroad, to link New York City with suburban Harlem. Among the company's founders was John Mason, a wealthy banker and president of Chemical Bank who was among the largest landowners in New York City. They decided to build their railroad on the eastern side of Manhattan Island, convinced that it would never be able to compete with steamboat traffic on the Hudson River.
- June 10, 1833 - north along Fourth Avenue to 32nd Street
- May 9, 1834 - north along Fourth Avenue to Yorkville, including the Murray Hill Tunnel
- October 26, 1837 - north along Fourth Avenue to Harlem, including the Yorkville Tunnel
- May 4, 1839 - south along Bowery, Broome Street and Centre Street to City Hall at Centre Street and Park Row
- September 3, 1842 - north to Williamsbridge
- December 1, 1844 - north to White Plains
- June 1, 1847 - north to Croton Falls
- December 31, 1848 - north to Dover Plains
- January 19, 1852 - north to Chatham Four Corners with a connection to the Albany and West Stockbridge Railroad, and trackage rights northwest to Albany
- November 26, 1852 - south along Park Row to Astor House at Park Row and Broadway
- A freight branch was built to Port Morris, from the 1853 purchase of the Spuyten Duyvil and Port Morris Railroad and abandoned late in the 20th century. Parts are still visible.
In 1864 or 1865, a branch was added for trains between downtown and the East 34th Street Ferry Landing, running along 32nd Street, Lexington Avenue and 34th Street. This was the start of separate horse car service, running between Astor House and the ferry.
Grand Central Depot opened just north of 42nd Street in October 1871, and intercity passenger trains from the north were ended there. Freight trains continued to operate along the tracks south of Grand Central, as did streetcars (still turning off at 42nd Street).
As in other early railroads, the dominant propulsion in the railroad's early years was horse power. In 1837, steam engines were introduced, but their use was limited to areas outside of the heavily settled parts of the city, which was then north of 23rd Street.
The New York City Common Council passed an ordinance on December 27, 1854, to take effect in 18 months, barring the NY&H from using steam power south of 42nd Street, due to complaints by persons whose property abutted the right-of-way. Before that, the steam locomotives had run to 32nd Street. When the ordinance took effect, the NY&H had not done anything. After much debate, including an injunction issued preventing the city from enforcing the ordinance, the courts struck down the injunction on July 30, 1858.
In 1864, the railroad was purchased by Cornelius Vanderbilt, who consolidated it five years later with the Hudson River Railroad to form the New York Central and Hudson River Railroad, a precursor of the much larger New York Central Railroad.
On July 2, 1870, horsecars started to run not only to the 34th Street Ferry but to 73rd Street via Madison Avenue. These trains ran through the Murray Hill Tunnel and turned west on 42nd before going north on Madison (northbound cars used Vanderbilt Avenue to 44th Street). The line was soon extended to 86th Street and then to Harlem.
On April 1, 1873, the NY&H leased its freight lines to the New York Central and Hudson River Railroad, but the horsecar line south of Grand Central remained separate. This eventually became the New York Central Railroad and then part of Penn Central and Conrail. Metro-North Railroad took over the line in 1983.
The first electric streetcar open to passengers in New York City, a Julien electric traction car, was run on September 17, 1888 on the line to 86th Street. The line went back to using horses for a time, but switched to a "below-grade third rail" (commonly called a "conduit") in 1897. On July 1, 1896, the Metropolitan Street Railway leased the streetcar lines.
The New York City Railway, which leased the Metropolitan, and hence also these lines, went into receivership on September 24, 1907. The receivers returned operation of the Fourth Avenue line back to the Metropolitan Street Railway on July 31, 1908. The lease was terminated on January 31, 1920 with operation was returned to the NY&H.
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.