Cleveland and Pittsburgh Railroad Co. - 1950's-70's dated Railway Stock Certificate
Inv# RS1059 Stock
Ohio
Pennsylvania
Railroad Stock. Extremely ornate stock with superb engraving of a steam locomotive with coal car. American Bank Note Co. Absolutely of the greatest quality!!! Available in Brown, Olive or Blue. Please specify color.
The Cleveland & Pittsburgh Railroad was chartered in 1836, due to public support in building a railroad line between Cleveland & Pittsburgh. Construction of the line was completed in 1852, with additional branch lines to Akron, Ohio, & Wheeling, West Virginia. In 1871, the C&P was leased to the Pennsylvania Railroad for a 999 year lease, thus, giving the PRR access to Cleveland. During the Pennsylvania Railroad years, the line mainly hosted coal & mineral trains from the Ohio River Valley area that were bound for Cleveland. In 1968, the Pennsylvania Railroad merged with long time rival New York Central Railroad, to form Penn Central Transportation Company. The merger essentially failed, which resulted in the Penn Central declaring bankruptcy by 1970. Conrail was created in 1976 to pick up the pieces of several railroads that had fallen into bankruptcy including the Penn Central.
By 1981, Conrail was turning into a profitable operation, due in part to the Staggers Rail Act of 1980. Around this time, Conrail began upgrading the former C&P line between Alliance & Cleveland, as the line was soon to host several trains. Conrail began to remove all of the Chicago-bound train traffic that had previously used the Fort Wayne Line, & rerouted that traffic to the Chicago Line, using the Cleveland Line as the connector line. Upgrading of the line was eventually completed, & Conrail began routing a majority of Chicago bound traffic out of Pittsburgh to the line, to connect with the former New York Central mainline in Cleveland. Ownership of the line was passed on to Norfolk Southern after the Conrail split between CSX Transportation & Norfolk Southern in 1999. Read more at https://en.wikipedia.org/wiki/Cleveland_Line_(Norfolk_Southern)
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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