Pair of Kalamazoo and White Pigeon Rail Road Co. - Railway Stock Certificate - Very Important to Railroad History
Inv# RS5330A Stock
Pair of Stocks with 1 issued and 1 unissued with different vignettes and glued together. The Pair!
The Kalamazoo and White Pigeon Railroad (K&WP) was a shortline railroad in the U.S. state of Michigan. The line ran from Lansing to Jonesville, then returned north from Jonesville to Albion and Eaton Rapids before closing the loop in Lansing. The NCMR had a short life as an independent company, becoming part of the Lake Shore and Michigan Southern Railway in 1871 and then consolidating with the New York Central Railroad in 1914.
On April 3, 1848, the state of Michigan enacted legislation chartering the St. Joseph Valley Railroad. Its charter permitted it to build a single or double track from St. Joseph, Michigan, southeast to Cassopolis, Michigan, and thence northeast, east, or southeast to any point in St. Joseph County, Michigan. The company had to commence work in five years, and finish its line within ten years, or forfeit its charter. The Michigan Southern Railroad was barred by its charter from constructing a line within 3 miles (4.8 km) from the Michigan-Indiana border. So the Michigan Southern purchased most of the stock of the St. Joseph Valley, which allowed that line to begin work. The St. Joseph Valley began work in White Pigeon, Michigan, and by 1852 had built a single-track line to Constantine, Michigan. It extended the line to Three Rivers, Michigan, in 1855. Having run out of money, the St. Joseph won an extension from the Michigan Legislature on March 15, 1861, giving it more time to finish the line to St. Joseph. It won a second deadline extension from the legislature on March 17, 1863. The entire line was standard gauge. Read more at https://en.wikipedia.org/wiki/Kalamazoo_and_White_Pigeon_Railroad
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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