Erastus Corning - Utica and Schenectady Railroad - Stock CertificateInv# AG1139
Erastus Corning (1794-1872), prominent in railroad development in the state of New York. He became the first President of the New York Central in 1853. He was four times elected Mayor of Albany and twice as a Democratic Representative in Congress. 1850 Stock Transfer signed by Corning as Attorney for a client. Includes a nice portrait. Choice Condition. Rare!
The Utica and Schenectady Railroad
was chartered April 29, 1833; as the railroad paralleled the Erie Canal it was prohibited from carrying freight
. Revenue service began August 2, 1836, extending the line of the Albany and Schenectady Railroad west from Schenectady along the north side of the Mohawk River, opposite the Erie Canal, to Utica
. On May 7, 1844, the railroad was authorized to carry freight with some restrictions, and on May 12, 1847, the ban was fully dropped, but the company still had to pay the equivalent in canal tolls
to the state.
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.
Item ordered may not be exact piece shown. All original and authentic.