Law Association of Philadelphia - 1877 dated Philadelphia, Pennsylvania Stock Certificate
Inv# GS6148 Stock
Stock. Philadelphia, Pennsylvania. Rare! So Choice! Small size stock measures 7 3/4" x 5 3/4".
The Jenkins Law Library, established in 1802, holds the distinction of being the first law library in America. It operates as a membership library situated in Philadelphia, Pennsylvania, catering to the local legal community, which includes individuals representing themselves in legal matters.
The Law Library Company of the City of Philadelphia was founded by 71 attorneys, including some of the most distinguished lawyers of that era. They established a corporation to collectively acquire a collection of legal resources necessary for their legal practice. Shares in the company were offered at a price of $20, while the annual membership fee was set at $2.
In 1827, the Law Library Company merged with the Associated Members of the Bar, adopting the name Law Association of Philadelphia. Over time, this entity evolved into what is now known as the Philadelphia Bar Association. In 1931, the library underwent its first of several name changes, becoming the Law Library of the Philadelphia Bar Association.
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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