Indiana, Illinois and Iowa Railroad Co. Signed by E.D. Worcester - Stock CertificateInv# AG2374 Stock
Edwin Dean Worcester born Nov. 19, 1828, died June 13, 1904. Railroad official, born in Albany, N.Y. When he was 15 his formal schooling ended by the death of his father. His early business activities included a clerkship in his uncle's grocery store and later in the law office of Rufus W. Peckham. He engaged in trading of various kinds, including the handling of country produce over the newly opened railroad to Boston, and for a time in 1848 was connected with the Ransom Stove Works. In 1852 he entered his brother's law office in Albany, but was also employed occasionally in the Albany City Bank, of which Erastus Corning was president, and in the Commercial Bank of Albany. Deeply interested in law and in accounting, he spent much time in private study and lost no opportunity to enlarge his information and experience. In 1853 the ten railroad companies whose lines extended from Albany to Buffalo were consolidated into the New York Central Railroad, and Worcester was called in by Corning to assist in solving the many problems of accounting and procedure that arose in connection with the project. He was made chief accountant but soon became treasurer and held this position through the troublous times occasioned by the panic of 1857 and the Civil War. In 1867 Cornelius Vanderbilt took active control of the company, and thereafter Worcester was closely associated with him. He played an important part in effecting the consolidation of the New York Central and Hudson River railroads in 1869 and shortly afterward became secretary of the enlarged system with wide and undefined powers. This position he retained until his death.
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.