Pair of Mohawk and Hudson Railroad Co. 1 Issued to P.A. Jay and 1 Signed by Peter Augustus Jay - Stock Certificate
Inv# AG1797A Stock
Pair of Stocks. 1 issued to P.A. Jay and the other signed by Peter Augustus Jay.
Peter Augustus Jay (1776-1843) was the eldest son of Federalist, politician and American Founding Father, John Jay. As a child he spent most of his time with his grandparents - who carefully educated him. Like his father, he would graduate from King's College with a degree in law being admitted to the bar in 1797 and later establishing a practice with his cousin, Peter Jay Munro, in New York City. His public service record was extensive. According to the Jay Heritage Center, Peter served as "President, Society for Manumission of Slaves; President, Board of Kings College, New York Hospital; New York State Assemblyman (active in arranging the financing for Erie Canal); he is a Westchester County Judge; a founder of the Bank for Savings (thereby establishing New York State savings bank system); private secretary to his father in London for Jay Treaty. President of the New York Historical Society."
Peter was a director of the Mohawk and Hudson RR. While in Paris, he was entrusted with the transmission of the Louisiana Purchase Treaty.
Peter Jay married Mary Rutherford Clarkson in 1808. They had eight children, all of which reached adulthood. In 1816, he declined to run for governor of New York, but was elected, as a Federal Republican, to the New York State Assembly, where he supported legislation for the creation of the Erie Canal and for the abolition of slavery. In 1822, he inherited the Jay Property from his father - later demolishing the farmhouse to build the Greek Revival that stands today.
In 1832, Peter was honored with a Doctor of Laws from Harvard University for his "talents and virtues." His wife died in 1838 and he passed away five years later in 1843.
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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