Northern Pacific Railroad Co. Issued to/Signed by Sidney Dillon - Autograph Stock CertificateInv# AG2158 Stock
Stock issued to and signed on back by Sidney Dillon.
Sidney Dillon (May 7, 1812 – June 9, 1892) was an American railroad executive and one the nation's premier railroad builders. Dillon was born in Northampton, Fulton County, New York. His father, Timothy, was a farmer. Sidney Dillon began his career in the industry working as a water boy on the Mohawk and Hudson Railroad, one of America's earliest railroads, for its construction from Albany to Schenectady, New York. In 1840, he went into business for himself, forming his own construction company, and obtaining the construction contract for the Boston and Albany Railroad. He was actively involved in the construction of numerous roads, his largest being the Union Pacific Railroad, with which he became actively involved in 1865 through an equity exchange with the Crédit Mobilier of America corporation.
Crédit Mobilier of America was a company set up by the Union Pacific to defraud United States taxpayers in the construction of the First Transcontinental Railroad. The result was the Crédit Mobilier of America scandal, which exposed an over-invoicing and a stock and bond share-pricing scheme, whereby Union Pacific officers and directors, including Dillon, profited by manipulating the share price of Crédit Mobilier of America's stock shares and bonds, padding invoices to the U.S. Government, and bribing congressmen with shares in Crédit Mobilier of America, cash and other perks. Read more at https://en.wikipedia.org/wiki/Sidney_Dillon
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.