Erie Railroad Co. - 1906-1915 dated Railway Stock Certificate - Gorgeous Design
Inv# RS2087 Stock
Pennsylvania
Stock with minor hole cancellation in vignette and neatly stamp cancelled. Large train vignette by American Bank Note Co., New York. Scarce! Stock certificate measures 11" wide x 8.5" tall.
Incorporated in 1832 as the New York and Erie Rail Road, the Erie Railroad was envisioned as a monumental “scenic route” to connect the Hudson River at Piermont, New York, with Lake Erie at Dunkirk. This ambitious project aimed to facilitate trade between the Atlantic seaboard and the Great Lakes. Completed in 1851, it was a massive engineering feat, utilizing a broad 6-foot gauge to traverse the rugged terrain of New York’s Southern Tier. At that time, it held the distinction of being the longest railroad in the United States.
Throughout its early history, the Erie Railroad emerged as a crucial yet financially turbulent pioneer in transportation. It earned the nickname “the Scarlet Woman of Wall Street” due to intense and speculative financial battles for control. These battles involved prominent figures like Jay Gould and Cornelius Vanderbilt, leading to multiple bankruptcies and reorganizations.
Despite these financial challenges, the Erie Railroad persevered. It expanded its network to Chicago, modernized to standard gauge, and became a vital freight carrier, particularly for coal, throughout the late 19th and early 20th centuries. The railroad survived the Great Depression and underwent successful reorganization. It experienced prosperity through dieselization in the 1940s and 50s.
However, changing industry dynamics, increased competition, and declining passenger traffic eventually led to a merger in 1960 with the Delaware, Lackawanna & Western Railroad. This new entity, the Erie-Lackawanna Railroad, struggled with mounting debt and storm damage. Ultimately, it was absorbed into the government-backed Conrail system in 1976. This marked the end of the Erie as an independent, iconic railroad. Despite this, much of its route remains active today.
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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