New York, Ontario and Western Railway Co. - Unissued Railroad Stock Certificate
Inv# RS5256 Stock
Unissued Stock printed by American Bank Note Company, New York.
The New York, Ontario and Western Railway, more commonly known as the O&W or NYO&W, was a regional railroad with origins in 1868, lasting until March 29, 1957 (the last train ran from Norwich to Middletown, NY on this date), after which it was ordered liquidated by a US bankruptcy judge. It was the first notable U.S. railroad with its mainline entirely abandoned.
The railroad began life as the New York and Oswego Midland Railroad, organized by Dewitt C. Littlejohn of Oswego, NY in 1868. Its mainline extended from Weehawken, New Jersey, across the Hudson River from New York City, to Oswego, New York, a port city on Lake Ontario. It had branch lines to Kingston, Port Jervis, Monticello, Delhi, Utica and Rome, New York and Scranton, Pennsylvania. The part south of Cornwall, New York, was operated over the New York Central Railroad's West Shore Railroad via trackage rights.
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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