Duluth Short Line Railway Co. - Unissued Minnesota Railroad Stock Certificate - Gorgeous VignetteInv# NP1010 Stock
Unissued Stock. Chartered in 1886, construction of the line which ran from Thompson to Duluth, Minnesota was completed in 1888. The line was leased to the St. Paul and Duluth Railroad Company, thereafter becoming a subsidiary of the Northern Pacific.
Congress chartered the Northern Pacific Railway Company on July 2, 1864, with the goals of connecting the Great Lakes with Puget Sound on the Pacific, opening vast new lands for farming, ranching, lumbering and mining, and linking Washington and Oregon to the rest of the country.
Congress granted the railroad a potential 60 million acres (243,000 km2) of land in exchange for building rail transportation to an undeveloped territory. Josiah Perham was elected its first president on December 7, 1864. It could not use all the land and in the end took just under 40 million acres.
For the next six years, backers of the road struggled to find financing. Though John Gregory Smith succeeded Perham as president on January 5, 1865, groundbreaking did not take place until February 15, 1870, at Carlton, Minnesota, 25 miles (40 km) west of Duluth, Minnesota. The backing and promotions of famed financier Jay Cooke in the summer of 1870 brought the first real momentum to the company. Read more at https://en.wikipedia.org/wiki/Northern_Pacific_Railway
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.