Pittsburgh and Eastern Railroad Co. - 1898-1905 dated Railway Stock Certificate
Inv# RS5422 Stock
Stock. The Pittsburgh and Eastern Railroad was operated by The New York Central and Hudson River Railroad Company from December 27, 1899, to February 24, 1904, under the terms of an agreement with the Pennsylvania Railroad Company, and from the latter date to the time of its consolidation with the Beech Creek Extension Railroad Company under the terms of a lease dated February 24, 1904, the consideration being payment of interest on all outstanding obligations.
The New York Central and Hudson River Railroad Company operated the road under annual lease until the time of its consolidation with the Beech Creek Extension Railroad Company. Pittsburgh and Eastern Railroad Company was incorporated January 3, 1895, and the road opened November 16, 1896. This company was formed by consolidation of the Pittsburgh and Eastern Railroad Company, incorporated March 20, 1894; the Loyalhanna and Youghiogheny Railroad Company, incorporated June 18, 1894; and the Philadelphia and Pittsburgh Railroad Company, incorporated May 5, 1893.
Beech Creek Extension Railroad Company - Organized April 1, 1905, by consolidation and merger of Beech Creek Extension Railroad Company, Curwensville and Bower Railroad Company, Pittsburgh and Eastern Railroad Company and The Clearfield Southern Railroad Company, with an authorized capital stock of $10,000,000 and a consolidated four per cent mortgage of $20,000,000. Read more at https://www.canadasouthern.com/caso/images/annual-nyc-1912.pdf
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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