Kalamazoo and Schoolcraft Rail Road Co. - 1860's-70's circa Michigan Railway Stock Certificate
Inv# RS5508 Stock
Unissued Stock printed by Gazette Steam Print. Clipped corners but otherwise nice. On June 9, 1866, the Kalamazoo and Schoolcraft Railroad was incorporated in the state of Michigan. Its charter allowed it to build a 14-mile (23 km) line from Kalamazoo, Michigan, south to Schoolcraft. This standard-gauge line was completed on May 3, 1867. With the completion of the Schoolcraft and Three Rivers on the same date, the line now extended from Kalamazoo all the way south to White Pigeon and the Indiana border. The Kalamazoo and White Pigeon Railroad was formed on August 14, 1869, by the merger of the newly-enlarged St. Joseph Valley Railroad and the Kalamazoo and Schoolcraft Railroad.
On October 1, 1869, the Lake Shore and Michigan Southern Railway (LS&MS; which had formed from the amalgamation of the Michigan Southern and the Cleveland, Painesville and Ashtabula Railroad on April 6, 1869) leased the K&WP in perpetuity. The terms of the lease stipulated that the LS&MS assume payment on the K&WP's debt and purchase its equipment at market value. The New York Central and Hudson River Railroad acquired a controlling majority of the LS&MS in 1877. On April 29, 1914, the asset restructuring and refinancing of the New York Central and Hudson River led to the abolishment of all subsidiary corporations and their consolidation into the new New York Central Railroad. The K&WP merged into the New York Central effective January 1, 1915. Read more at https://en.wikipedia.org/wiki/Kalamazoo_and_White_Pigeon_Railroad
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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