Delaware, Lackawanna and Western Railroad Co. - 1867 Railway Stock Certificate
Inv# RS5532 Stock
New York
Stock with 25 cents revenue stamp! The Delaware, Lackawanna and Western Railroad, also known as the DL&W or Lackawanna Railroad, was a U.S. Class 1 railroad that connected Buffalo, New York, and Hoboken, New Jersey, and by ferry with New York City, a distance of 395 miles (636 km). Incorporated in Pennsylvania in 1853 primarily for the purpose of providing a connection between the anthracite coal fields of Pennsylvania's Coal Region and the large markets for coal in New York City. The railroad gradually expanded both East and West, eventually linking Buffalo with New York City.
Like most coal-focused railroads in Northeastern Pennsylvania, including Lehigh Valley Railroad, New York, Ontario and Western Railroad, and the Lehigh & New England Railroad, the DL&W was profitable during the first half of the 20th century, but its margins were gradually hurt by declining Pennsylvania coal traffic, especially following the 1959 Knox Mine Disaster and competition from trucks following the expansion of the Interstate Highway System in the 1960s and 1970s. In 1960, the DL&W merged with rival Erie Railroad to form the Erie Lackawanna Railroad that would be taken over by Conrail in 1976. Read more at https://en.wikipedia.org/wiki/Delaware,_Lackawanna_and_Western_Railroad
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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