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Kanawha and Michigan Railway Co. Transferred to William K. Vanderbilt, Jr. - Stock Certificate

Inv# AG2462   Stock
Kanawha and Michigan Railway Co. Transferred to William K. Vanderbilt, Jr. - Stock Certificate
State(s): Ohio
West Virginia
Years: 1910

Stock transferred to W.K. Vanderbilt, Jr. but not signed.

William Kissam Vanderbilt I (December 12, 1849 – July 22, 1920) was an American heir, businessman, philanthropist and horsebreeder. Born into the Vanderbilt family, he managed his family's railroad investments. William Kissam Vanderbilt I was born on December 12, 1849, in New Dorp, Staten Island in New York. His parents were Maria Louisa Kissam (1821–1896) and William Henry Vanderbilt (1821–1885), the eldest son of Commodore Cornelius Vanderbilt, an heir to his fortune and a prominent member of the Vanderbilt family who was the richest American after he took over his father's fortune in 1877 until his own death in 1885. He was the third of eight children born to his parents. His siblings were Cornelius Vanderbilt II (1843–1899), Margaret Louisa Vanderbilt (1845–1924), Emily Thorn Vanderbilt (1852–1946), Florence Adele Vanderbilt (1854–1952), Frederick William Vanderbilt (1856–1938), Eliza Osgood Vanderbilt (1860–1936) and George Washington Vanderbilt II (1862–1914). Vanderbilt inherited $55 million (equal to about $1.6 billion today) from his father. He managed his family railroad investments. In 1879, after taking over P. T. Barnum's Great Roman Hippodrome which was on railroad property by Madison Square Park, he renamed the facility Madison Square Garden.

Vanderbilt was one of the founders of The Jockey Club. He was a shareholder and president of the Sheepshead Bay Race Track in Brooklyn, New York and the owner of a successful racing stable. In 1896, he built the American Horse Exchange at 50th Street (Manhattan) and Broadway. In 1911 he leased it (and eventually sold it to) the Shubert Organization who then transformed it into the Winter Garden Theatre. After his divorce from Alva, he moved to France where he built a château and established the Haras du Quesnay horse racing stable and breeding farm near Deauville in France's famous horse region of Lower Normandy. Among the horses he owned was the U.S. Racing Hall of Fame filly Maskette, purchased from Castleton Farm in Lexington, Kentucky for broodmare services at his French breeding farm.

Vanderbilt's horses won a number of important races in France including: Critérium de Maisons-Laffitte: Prestige (1905), Northeast (1907), Montrose II (1911) Critérium de Saint-Cloud: Illinois II (1901), Marigold (1902) Grand Critérium: Prestige (1905), Montrose II (1911) Grand Prix de Deauville: Turenne (1904), Maintenon (1906) Grand Prix de Paris: Northeast (1908), Brumelli (1917) Grand Prix de Saint-Cloud: Maintenon (1906), Sea Sick (1908), Oversight (1910) Poule d'Essai des Poulains: McKinley (1919) Prix de Guiche: Negofol (1909), McKinley (1919) Prix de la Forêt: Prestige (1905), Montrose II (1911, dead-heat), Pétulance (1911, dead-heat) Prix du Jockey Club: Maintenon (1906), Sea Sick (1908), Negofol (1909), Tchad (1919) Prix Eugène Adam: Alpha (1903), Maintenon (1906) Prix Boiard: Prestige (1906), Maintenon (1907) et Tchad (1920) Prix Jean Prat: Prestige (1906) Prix Kergorlay: Turenne (1904), Maintenon (1906), Sea Sick (1909, 1910) Prix Lagrange: Prestige (1906) Prix Morny: Prestige (1905), Messidor III (1909) et Manfred (1910) Prix Robert Papin: Prestige (1905), Montrose II (1911), Gloster (1912) Prix La Rochette: Schuyler (1907), Manfred (1910), Brume (1910), Pétulance (1911) Prix Royal-Oak: Maintenon (1906), Reinhart (1910) On April 20, 1875, Vanderbilt married his first wife, Alva Erskine Smith (1853–1933), who was born in 1853 in Mobile, Alabama, to Murray Forbes Smith, a commission merchant, and Phoebe Ann Desha, daughter of US Representative Robert Desha. Together, they had three children: Consuelo Vanderbilt (born March 2, 1877) William Kissam Vanderbilt II (born on March 2, 1878) Harold Stirling Vanderbilt (born on July 6, 1884) Alva later coerced Consuelo into marrying Charles Spencer-Churchill, 9th Duke of Marlborough on November 6, 1895. Alva divorced Vanderbilt in March 1895, at a time when divorce was rare among the elite, and received a large financial settlement reported to be in excess of $10 million (equal to about $310 million today). The grounds for divorce were allegations of Vanderbilt's adultery.

Alva remarried to one of their old family friends, Oliver Hazard Perry Belmont, on January 11, 1896. In 1903, Vanderbilt married Anne Harriman (1861–1940), daughter of banker Oliver Harriman. She was a widow to sportsman Samuel Stevens Sands and to Lewis Morris Rutherfurd, Jr., son of the astronomer Lewis Morris Rutherfurd. Her second husband had died in Switzerland in 1901. She had two sons by her first marriage and two daughters by her second marriage. She had no children by Vanderbilt. Like other prominent Vanderbilts, he built magnificent houses. His residences included Idle Hour (1900) on Long Island and Marble House (1892), designed by Richard Morris Hunt, in Newport, Rhode Island. Hunt also designed Vanderbilt's 660 Fifth Avenue mansion (1883). In 1907, Vanderbilt and his second wife built Château Vanderbilt, a Louis XIII style manor house along with three thoroughbred race tracks in Carrières-sous-Poissy, an hour outside Paris and on the route to Deauville, famous for its horse racing. Vanderbilt was a co-owner of the yacht Defender, which won the 1895 America's Cup and briefly owned the large steam yacht Consuelo.

Vanderbilt was a founder and president of the New Theatre. Vanderbilt made significant charitable contributions to Vanderbilt University, a private university in Nashville, Tennessee named for his grandfather. Vanderbilt died in Paris, France, on July 22, 1920. His remains were brought home and interred in the Vanderbilt family vault in the Moravian Cemetery in New Dorp, Staten Island, New York. Vanderbilt's portrait, painted by F. W. Wright from an original painting by Richard Hall between 1911 and 1921, was donated to Vanderbilt University in 1921; it is hung in Kirkland Hall. In World War II, the United States liberty ship SS William K. Vanderbilt was named in his honor. Founding member of the Jekyll Island Club aka The Millionaires Club on Jekyll Island, Georgia.

The railroad of the Kanawha & Michigan Railway Company, herein called the Kanawha & Michigan, is a single-track, standard-gage steam railroad, located in the States of Ohio and West Virginia, and extending from Corning, Ohio, to Gauley Bridge, W. Va., with branches to Carrington, Athens, Calvin, Pomeroy, and Gallipolis, Ohio, and from Carbondale and Bloomer, W. Va., to near-by points. The company wholly owns freight and passenger terminals at Hobson, Ohio and Charleston and Gauley Bridge, W. Va., and a freight terminal at Dickson, W. Va. In addition, it jointly owns with another carrier freight and passenger facilities at Corning, Ohio.

The Kanawha & Michigan wholly owns 163.682 miles of road, of which it uses 152.568 miles, and leases 11.114 miles to The Zanesville and Western Railway Company. The Kanawha & Michigan wholly uses 3.269 miles of road owned by lessors of the company and described in the paragraphs below.

The property of The Middleport and Northeastern Railway Company, herein called the Middleport and Northeastern, leased to and operated by the Kanawha & Michigan, is a single-track line extending from Rockville to Calvin, Ohio, a distance of 2.525 miles.

The property of The Point Pleasant Bridge Company, likewise leased to and operated by the Kanawha & Michigan, consists of a bridge and tracks thereon extending from the north end of the Ohio River bridge in Ohio to the south end of this bridge in Point Pleasant, W. Va., a distance of 0.744 miles.

The Kanawha & Michigan wholly owns and uses 281.188 miles of all tracks, wholly owns but does not use 11.114 miles of all tracks, and wholly uses but does not own 3.338 miles of all tracks. These tracks are classified in the trackage table in Appendix 1. The Kanawha & Michigan also owns and uses jointly with other carriers 8.621 miles of all tracks, as shown in the trackage table referred to.

The Kanawha & Michigan is a corporation of the States of Ohio and West Virginia, having its principal office at Columbus, Ohio. It is controlled through ownership of a majority of the outstanding capital stock by The Toledo and Ohio Central Railway Company, which latter company is controlled by The New York Central Railroad Company. On the other hand, the Kanawha & Michigan controls, through ownership of the entire outstanding capital stock, The Point Pleasant Bridge Company, and through ownership of a majority of the outstanding stock, The Gauley and Eastern Railway Company. The entire property of The Point Pleasant Bridge Company was operated under implied lease as a part of its system on December 31, 1917. The Kanawha & Michigan also controls, through ownership of a majority of the outstanding capital stock, the Kanawha and West Virginia Railroad Company, whose property was separately operated on December 31, 1917.

The property of the Kanawha & Michigan, except the section from Glouster to Carrington, Ohio, of 11.114 miles, has been operated by its own organization from the date of acquirement until December 31, 1917. The excepted section was operated by The Zanesville and Western Railway Company. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.

The Kanawha & Michigan was incorporated under the general laws of the States of Ohio and West Virginia, the articles of incorporation being filed in those States on April 24, 1890, and April 25, 1890, respectively; for the stated purpose of acquiring, completing, maintaining, and operating the property and franchises of The Kanawha and Ohio Railway Company. The Kanawha & Michigan subsequently acquired the property, rights, and franchises of one other railroad corporation. The Kanawha & Michigan, itself, and that corporation, together with their predecessors, total eight different corporations, and comprise the line of corporate succession culminating in the Kanawha & Michigan as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession.

No. Name Incorporation Succession
1 The Kanawha & Michigan Railway Company. Under general laws of Ohio and West Virginia, through articles of incorporation filed in Ohio Apr. 24, 1890; West Virginia, Apr. 25, 1890.  
2 The Kanawha and Ohio Railway Company (second corporation). Under general laws of Ohio and West Virginia through articles of consolidation filed in Ohio Apr. 19, 1886; West Virginia, Apr. 20, 1886. Sold at foreclosure Mar. 4, 1890, conveyed by deed dated Apr. 16, 1890, to Nelson Robinson and William B. Post, who reconveyed Apr. 24, 1890, to 1.
3 The Charleston and Gauley Railway Company. Under general laws of West Virginia, Dec. 20, 1887. Conveyed July 1, 1890, to 1.
4 The Point Pleasant and Ohio River Railroad Company (of 1883). Under general laws of Ohio and West Virginia, through articles of consolidation filed in West Virginia, Jan. 17. 1883; Ohio Jan. 31, 1883. Sold at foreclosure Oct. 15, 1885, to Erwin Davis and John W. Simpson, who reconveyed all property (except bridge over the Ohio River and other property conveyed to The Point Pleasant Bridge Company) by deed dated June 25, 1886, to 2.
5 Point Pleasant and Ohio River Railroad Company, The (of 1881). Under general laws of West Virginia, Aug. 22, 1881. Consolidated Jan. 17, 1883, with 6 to form 4.
6 The Pomeroy and Ohio River Railroad Company. Under general laws of Ohio, Aug. 18, 1881. Consolidated Jan. 17, 1883, with 5 to form 4.
7 The Ohio and Kanawha Railway Company. Under general laws of Ohio, Jan. [19, 1886?]. Consolidated Apr. 19, 1886, with 8 to form 2.
8 The Kanawha and Ohio Railway Company (first corporation). Under general laws of West Virginia, Apr. 20, 1886. Consolidated Apr. 19, 1886, with 7 to form 2.

The owned mileage of the Kanawha & Michigan, amounting to 163.682 miles, was acquired partly by purchase and partly by construction. The property constructed by the Kanawha & Michigan, itself, and by its predecessors and other companies, the years when the various portions of the line were constructed, and the manner in which the Kanawha & Michigan acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.

Acquired by construction:

Charleston to Malden, W. Va., 1890. 7.000
Malden to Gauley Bridge, W. Va., 1893. 30.300
Smithers to Marting, W. Va., 1901. 4.400
Kanauga to The Hocking Valley Railway, Ohio, 1911. 1.220
42.920

Acquired by purchase, from—

The Kanawha and Ohio Railway Company (second corporation), Apr. 24, 1890—
Constructed by The Ohio Central Railroad Company (of 1882), not a predecessor—
Point Pleasant to Charleston, W. Va., 1882. 56.600
Glouster to Carrington, Ohio, 1882. 11.200
Constructed by The Ohio Central Railroad Company (of 1879), not a predecessor—
Corning to Hobson, Ohio, 1882. 56.800
Owned by The Point Pleasant and Ohio River Railroad Company (of 1883)—
Certain property between The Hocking Valley Railway, near Kanauga, Ohio, and Point Pleasant, W. Va. ---
124.600
The Charleston and Gauley Railway Company, July 1, 1890—
Partially constructed by that company, Charleston, to near Malden, W. Va., completed by the Kanawha & Michigan. ---

Total recorded mileage 167.520

Difference between recorded mileage and mileage inventoried as of date of valuation 3.838

Mileage inventoried as of date of valuation 163.682

The Kanawha & Michigan, on December 31, 1917, used facilities owned by other companies and other companies used facilities owned by the Kanawha & Michigan to the extent indicated in the following statement. The property of the Kanawha & Michigan, together with the properties of others that it used, were taken over for operation by the United States Railroad Administration on January 1, 1918, and are so operated on date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on December 31, 1917, are as follows:

Solely owned, but not used, used by the Zanesville and Western Railway Company:

Tracks, 11.114 miles, Glouster to Carrington, Ohio; rental $6,800 per annum, and maintenance and taxes, all improvements placed upon the property by lessee to become the property of lessor at termination of lease. $6,800.00

Solely owned, but jointly used, used with—

The Chesapeake and Ohio Railway Company—
Tracks, 2.40 miles of main line and 0.2 mile of other, Charleston, W. Va.; term 20 years from Mar. 26, 1918; rental $6,000 per annum and entire maintenance and operation. 6,000.00
Coal and Coke Railway Company—
Tracks, 0.13 mile of main line and 0.07 mile of other, also station facilities, Charleston, W. Va.; term, agreement dated Apr. 12, 1904, terminated upon 30 days' notice; rental, $1,200 per annum. 1,200.00
Kanawha and West Virginia Railroad Company—
Tracks, 0.78 mile of main line and 0.07 mile of other; Charleston, W. Va.; term, no formal agreement; rental, $37.50 per annum and a fixed charge of $36 per annum for maintenance. 37.50
The Toledo and Ohio Central Railway Company—
Tracks, 17.14 miles of main line and 6.91 miles of other, Corning to Chauncey, Ohio; term 99 years under agreement dated July 1, 1901, renewable; stipulated rental $7,650 per annum, also maintenance and operation divided on wheelage basis. 7,650.00
The Zanesville and Western Railway Company—
Station Glouster, Ohio; term, no formal agreement; rental, $120 per annum and proportion of operation. 120.00

Solely used, but not owned, owned by—

The Middleport and Northeastern Railway Company—
Tracks, 2.525 miles of main line, Rockville to Calvin, Ohio; term, indefinite subject to six months' notice under agreement dated May 1, 1913; rental, 6 per cent on valuation of $52,600, also all operation, maintenance, and taxes. 3,156.00
The Point Pleasant Bridge Company
Bridge across Ohio River at Point Pleasant, W. Va.; 0.744 mile; term and rental, by virtue of stock ownership. --

Jointly used, but not owned, owned by—

The Baltimore and Ohio Southwestern Railroad Company—
Station and tracks, Athens, Ohio; terms, indeterminate under agreement dated Apr. 1, 1915; rental, 3 per cent per annum on a valuation of $11,319, on property used jointly with The Hocking Valley Railway Company, and 2 per cent per annum on a valuation of $31,991 on property used jointly with The Hocking Valley Railway Company and The Baltimore and Ohio Southwestern Railroad Company. The cost of maintenance and operation to be divided on a train basis. 979.44
The Hocking Valley Railway Company—
Tracks, 1.3 miles of main line and 1.01 miles of other, Armitage to Athens, Ohio; also 17.7 miles of main line and 4.3 miles of other, Pomeroy to Gallipolis, Ohio; term, 99 years under agreement dated July 24, 1886, renewable forever; rental $10,000 per annum and a proportion of maintenance and operation divided on a wheelage basis. 10,000.00
Freight and passenger station, Hocking, Ohio; term, no written agreement, rental $50 per annum, being one-half the amount of 5 per cent on a valuation of $2,000. 50.00
The Toledo and Ohio Central Railway Company—
Yard facilities, Corning, Ohio; term, 99 years under agreement dated May 1, 1890, renewable forever; rental, 5 per cent per annum on a valuation of $60,000, divided on a wheelage basis. 1,565.00

The telegraph pole line located on the property of the Kanawha & Michigan, consisting of 152.88 miles of pole line and 409.43 miles of aerial wire, is wholly owned by the Kanawha & Michigan, but leased to the Western Union Telegraph Company under agreement of June 1, 1907, the Kanawha & Michigan reserving the right to jointly use the telegraph property.

There are other facilities of minor importance, such as joint stations and interlockers, that are not taken up in this report.

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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: $105.00