Lowell Electric Light Corporation - Warrant for Capitol Stock - Stone & Webster Inc. Transfer Agent
Inv# US1002 StockStock. Lowell, Massachusetts. Charles A. Stone and Edwin S. Webster first met in 1884 and became close friends while studying electrical engineering at the Massachusetts Institute of Technology. In 1890, only two years after graduating, they formed the Massachusetts Electrical Engineering Company. The name was changed to Stone & Webster in 1893. Their company was one of the earliest electrical engineering consulting firms in the United States.
Stone & Webster's first major project was the construction of a hydroelectric plant for the New England paper company in 1890. Stone & Webster not only had valuable insight into developing and managing utilities but they also had keen intuition for businesses to invest in. For instance, due to the panic of 1893, Stone & Webster were able to acquire the Nashville Electric Light and Power Co. for a few thousand dollars and later sold it for $500,000.
Throughout the next ten years, Stone & Webster acquired interest in large number of utilities while offering managerial, engineering and financial consulting to a number of independent utility firms. Even though Stone & Webster were not a holding company, their financial and managerial presence meant that they had considerable influence in policy decisions. They would often be paid in utility stock.
As of 1912, Stone and Webster served as general managers of the following utilities:
- The Lowell Electric Light Corporation
- Puget Sound Electric Railway
- Columbus Electric Company
- Galveston-Houston Electric Railway Co.
- Cape Breton Electric Company, Ltd.
- El Paso Electric Company
- Jacksonville Traction Company
- Ponce Electric Company
- Paducah Traction and Light Company
- Puget Sound International Ry. & Power Co.
- Pacific Northwest Traction Company
- Mississippi River Power Company
- Edison Elec. Illuminating Co. of Brockton
- Fort Worth Southern Traction Company
- Houghton County Electric Light Co
- Brockton and Plymouth St. Ry. Company
- Houghton County Traction Company
- Savannah Electric Company
- Columbus Power Company
- Dallas Electric Corporation
- Northern Texas Electric Company
- Blackstone Valley Gas and Electric Co.
- The Electric Light and Power Company of Abington and Rockland
- Everett Railway, Light and Water Co.
- Haverhill Gas Light Company
- The Blue Hill Street Railway Company
- Dallas Southern Traction Company
- Puget Sound Traction, Light & Power Co
- Tampa Electric Company
- Pensacola Electric Company
- Public Service Investment Company
- Houston Electric Company
- Fall River Gas Works Company
- Galveston Electric Company
- The Key West Electric Company
- Baton Rouge Electric Company
- Whatcom County Railway & Light Co.
- Railway & Light Securities Company
- Sierra Pacific Electric Company
- Tacoma Railway and Power Company
- Eastern Texas Electric Company
- Galveston-Houston Electric Company
Read more at https://en.wikipedia.org/wiki/Stone_%26_Webster
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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