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Indianapolis Southern Railroad Co. - Unissued Railway Stock Certificate - Indiana and Illinois

Inv# RS5354   Stock
State(s): Illinois
Indiana
Years: (1900's)

Unissued Stock.

Starting in 1847, the city of Indianapolis had been a railroad center. With the opening of the first line on 1 October 1847 (the Madison & Indianapolis), the number of railroads just grew. Before the end of the 19th Century, Indianapolis had many railroad lines going in every direction. Except due south. That would change in the early 20th Century when the last railroad line to be built to the Hoosier capital was completed. That railroad was authorized to enter the city as the “Indianapolis Southern Railway.”

The Indianapolis Southern Railway was organized under the general laws of Indiana on 16 August 1899. The idea was to connect Indianapolis to the coal fields in the Greene County, Indiana, area and to Effingham, Illinois. While coal from the Greene County area was already arriving in Indianapolis via two lines of the Vandalia (the main Terre Haute line and the Vincennes line), the idea was that having more access to coal would drive the cost down. It also didn’t hurt that the franchise that was granted stipulated that there would be no more than 1/2 cent per ton-mile for coal transportation to Indianapolis.

It wasn’t until 11 April 1902 that an ordinance allowing the Indianapolis Southern Railway into Indianapolis was approved. “AN ORDINANCE ratifying, confirming and approving a certain contract and agreement made and entered into on the seventeenth day of March, 1902, between the City of Indianapolis, by and through it Board of Public Works, and the Indianapolis Southern Railway.” The ordinance specifically mentions the several “streets, alleys and public places” that the railroad was allowed to build their route. The original route was described as follows: “beginning on the south line of Southern Avenue, running thence northwardly, crossing said Southern avenue about ten (10) feet east of its intersection with the east line of Ruecker street (Southern avenue being the south line of the city limits of the City of Indianapolis), and running thence northwardly to a point where such line intersects Pogue’s Run at about the south line of Wisconsin street in the said City of Indianapolis; thence following along the line of Pogue’s Run from the south line of Wisconsin street to Merrill street, and thence continuing northward to South street and crossing South street at a point 130 feet east of the intersection of the south line of South street and the east line of Missouri street.” The ordinance goes on to describe how it is to connect to the Indianapolis Union tracks at South Capitol avenue. Read more at https://intransporthistory.home.blog/2019/03/25/indianapolis-southern-railway/

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Condition: Excellent

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.
Price: $65.00