Hoboken Ferry Co. - Orange Issued to Lehman Brothers - 1897 dated Shipping Stock Certificate
Inv# SS1004C Stock
Orange Shipping Stock printed by Homer Lee Bank Note Co., New York. Steam ferry vignette with winged lion figures (griffins) on each side. Very attractive Victorian title & borders. Rare!!! Exceptional!!!
The Hoboken Ferry Company was a subsidiary of the Delaware, Lackawanna and Western Railroad (DL&W). The company had a fleet of six ferryboats when it ceased operations in 1967. These vessels took their names from principal stations on the DL&W RR's main line from Hoboken, NJ to Buffalo, NY. Three of these - the Elmira, Scranton, and Pocono (née Scandinavia) - the Binghamton's sisters, were also built in 1905. (Another, the Ithaca, was destroyed by fire in 1946.) Of these, the Binghamton is now the only survivor. Please specify color. The Binghamton's engine, a 4 cylinder, double compound, marine steam engine, is of an axially symmetric design, like the double ended ferryboat Binghamton. Double compound engines were superseded by more efficient Triple expansion steam engines. Operated from Barclay Street to Hoboken Terminal from 1821 to 1967. Read more at https://en.wikipedia.org/wiki/List_of_ferries_across_the_Hudson_River_to_New_York_City
Lehman Brothers Inc. (/?li?m?n/ LEE-m?n) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, equity, fixed-income and derivatives sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008.
On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehman's involvement in the subprime mortgage crisis and its exposure to less liquid assets. Lehman's bankruptcy filing was the largest in US history, and is thought to have played a major role in the unfolding of the financial crisis of 2007–2008. The market collapse also gave support to the "too big to fail" doctrine.
After Lehman Brothers filed for bankruptcy, global markets immediately plummeted. The following day, major British bank Barclays announced its agreement to purchase, subject to regulatory approval, a significant and controlling interest in Lehman's North American investment-banking and trading divisions, along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by U.S. Bankruptcy Court Judge James M. Peck. The next week, Nomura Holdings announced that it would acquire Lehman Brothers' franchise in the Asia-Pacific region, including Japan, Hong Kong and Australia, as well as Lehman Brothers' investment banking and equities businesses in Europe and the Middle East. The deal became effective on October 13, 2008. Read more at https://en.wikipedia.org/wiki/Lehman_Brothers
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.
Ebay ID: labarre_galleries