London and San Francisco Bank Limited - U.S. Gold Coin Overprint - Drexel, Morgan & Co.Inv# BK1303A Stock
U.S. Gold Coin; $280 Gold. Smaller size measures 9 1/4" x 5 1/2". 2 cent revenue stamp. The origins of the firm date back to 1854 when Junius S. Morgan joined George Peabody & Co. (which became Peabody, Morgan & Co.), a London-based banking business headed by George Peabody. Junius took control of the firm, changing its name to J.S. Morgan & Co. in 1864 on Peabody's retirement. Junius's son, J. Pierpont Morgan, first apprenticed at Duncan, Sherman, and Company in New York City, then founded his own firm with a cousin, J. Pierpont Morgan & Company, in 1864. J. Pierpont Morgan & Company traded in government bonds and foreign exchange. It also acted as an agent for Peabody's. Junius, however, considered some of Pierpont's ventures to be highly speculative. Therefore, Pierpont took on Charles H. Dabney (a connection established when Pierpont was sent to the Azores as a child) as a senior partner, and the firm was known first as Dabney, Morgan, and Company (beginning in 1864) and then "Drexel, Morgan & Co." (in 1871). In those firms, Pierpont used his Peabody connection to bring British financial capital together with the rapidly-growing U.S. industrial firms, such as railroads, which needed capital. The Drexel of Drexel, Morgan & Co. was Philadelphia banker Anthony J. Drexel, founder of what is now Drexel University. Read more at https://en.wikipedia.org/wiki/J.P._Morgan_%26_Co.
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.