Cleveland, Painesville and Ashtabula Rail Road Co. issued to and signed by Amasa Stone, Jr. - Stock CertificateInv# AG2178 Stock
Stock issued to and signed as president by Amasa Stone, Jr. Civil War dated! 25 cents revenue stamp.
Amasa Stone, Jr. (April 27, 1818 – May 11, 1883) was an American industrialist who is best remembered for having created a regional railroad empire centered in the U.S. state of Ohio from 1860 to 1883. He gained fame in New England in the 1840s for building hundreds of bridges, most of them Howe truss bridges (the patent for which he had licensed from its inventor). After moving into railroad construction in 1848, Stone moved to Cleveland, Ohio, in 1850. Within four years he was a director of the Cleveland, Columbus and Cincinnati Railroad and the Cleveland, Painesville and Ashtabula Railroad. The latter merged with the Lake Shore and Michigan Southern Railway, of which Stone was appointed director. Stone was also a director or president of numerous railroads in Ohio, New York, Pennsylvania, Indiana, Illinois, Iowa, and Michigan.
Stone played a critical role in helping the Standard Oil company form its monopoly, and he was a major force in the Cleveland banking, steel, and iron industries. Stone's reputation was significantly tarnished after the Ashtabula River railroad bridge, which he designed and constructed, collapsed in 1876 in the Ashtabula River railroad disaster. Stone spent many of his last years engaging in major charitable endeavors. Among the most prominent was his gift which allowed Western Reserve College (later known as Case Western Reserve University) to relocate from Hudson, Ohio, to Cleveland.
The Cleveland, Painesville and Ashtabula Railroad (CP&A), also known informally as the Cleveland and Erie Railroad, the Cleveland and Buffalo Railroad, and the Lake Shore Railroad, was a railway which ran from Cleveland, Ohio, to the Ohio-Pennsylvania border. Founded in 1848, the line opened in 1852. The railroad completed the rail link between Buffalo, New York, and Chicago, Illinois.
The CP&A connected at the state line with the Franklin Canal Company (FCC), a Pennsylvania company. The FCC and CP&A shared the same track gauge, and the CP&A operated both rail lines. At Erie, Pennsylvania, the FCC connected with the Erie and North East Railroad. The Erie Gauge War of late 1853 to early 1854 occurred when the Erie & North East, a broad-gauge railway, changed its gauge to match that of the CP&A. The resolution to the conflict led to the CP&A purchasing the FCC outright.
One of the most profitable railroad lines in the United States in the 1860s, the CP&A was renamed the Lake Shore Railway in 1868. It merged with the Michigan Southern and Northern Indiana Railroad in 1869 to form the Lake Shore and Michigan Southern Railroad. Read more at https://en.wikipedia.org/wiki/Cleveland,_Painesville_and_Ashtabula_Railroad_(1848%E2%80%931869)
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.