Dunkirk, Allegheny Valley & Pittsburgh Railroad Company transferred to Frederick W. Vanderbilt - Stock Certificate - SOLDInv# AG1949 Stock
Stock transferred on back to Frederick W. Vanderbilt. Rare! Shares also exist of this stock signed by Commodore Cornelius Vanderbilt.
Frederick W Vanderbilt (1856-1938) The seventh of eight children born to William Henry Vanderbilt and the grandson of Cornelius Vanderbilt, founder of the New York Central Railroad. At age 22, he had been installed on the board of directors of the New York Central Railroad, one of several positions he would hold for much of his life. Frederick attended the Sheffield Scientific School at Yale University, graduating in 1878. The same year, he married Louise Anthony Torrance, an act that caused consternation within his family — and society as a whole — because Louise was 12 years older and recently divorced from Frederick’s first cousin. Against his father’s wishes, the couple eloped. By all accounts, the couple had a happy and successful marriage. Louise eventually won her way into the good graces of the family. The couple had no children. Little is known of the couple’s personal life, as they were extremely private members of a very public family. Frederick was the only one of his siblings to increase his inherited fortune. Eventually, he participated in the operation of dozens of railroads and was for a time heavily invested in Western Union. The couple maintained many residences, traveling between New York City townhouses and country estates they either owned or rented. At times, they lived in Paris, Bar Harbor, Maine, the Adirondacks, Newport, R.I., and Hyde Park. Only their home on the Hudson seemed to have any hold. They continued to make improvements and increase their time at the estate each year. Louise Vanderbilt died in 1926 while in Paris. Frederick lived in Hyde Park until his death in 1938. His fortune of nearly $80 million was dispersed to pay estate taxes, fund charities, remember a favorite niece and leave some money to employees of the Hyde Park estate.
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.