Saint Paul and Duluth Railroad Co. Issued to and signed by R.S. HayesInv# AG2126 Stock
Stock issued to and signed by R.S. Hayes on front as president and on the back.
Richard Somers Hayes (1846-1905), formerly first vice-president of the Wabash St. Louis & Pacific and afterward president of the St. Paul & Duluth died at his home in New York City on March 3 at the age of 58 years. Mr. Hayes was born at Philadelphia, Pa., on October 12, 1846, and entered railway service in 1867 as assistant engineer on the Erie Railroad. He was appointed chief engineer and general manager of the Texas & New Orleans in the spring of 1870, and in the fall of 1872 was made chief of construction of the Texas Improvement Company, building the Texas & Pacific. One year later he became chief engineer of the Texas & Pacific, and in the spring of 1874 was appointed cheif engineer of the International & Great Northern. He was advanced to the position of vice-president and general manager of the latter road in 1878. Upon the reorganization of the company in the fall of 1879 he was chosen president and in June, 1881 was elected vice-president of the Missouri Pacific, Missouri Kansas & Texas, Texas & Pacific and St. Louis Iron Mountain & Southern roads, comprising the Gould Southwestern system. He was elected first vice-president of the Wabash St. Louis & Pacific in April, 1883, and on July 27, 1888, became president of the St. Paul & Duluth.
Originally incorporated in 1863 and known as the Lake Superior and Mississippi Railroad, the road provided the first service between Duluth and the Twin Cities upon its completion in 1870. Serving as the all-important eastern terminus of the Northern Pacific Railroad, the road linked the Great Lakes and the Mississippi River. A victim of the panic of 1873, the company defaulted on its bonds and was reorganized in 1877 as the Saint Paul and Duluth Railroad. It was absorbed by the Northern Pacific in 1900. These exceptional stocks are beautifully printed by American Bank Note Company. The two Steamships and Locomotive scenes are so very impressive. A fine example of engraving of this Golden Era of Financial Printing.
The St. Paul and Duluth Railroad was reorganized from the Lake Superior and Mississippi Railroad in 1877. It was bought by the Northern Pacific in 1900. Known as the "Skally Line", it operated from Saint Paul to Duluth, Minnesota, with branches to Minneapolis, Taylors Falls, Kettle River, and Cloquet, in Minnesota, and Grantsburg and Superior in Wisconsin.
The line was purchased by the Northern Pacific Railway, which was succeeded by the Burlington Northern and then the Burlington Northern Santa Fe. Most of the line became redundant with other lines after the Burlington Northern merger, as it paralleled another line of the Great Northern Railway. Most of the line therefore was abandoned and many segments were turned into rail trails.
The disposition of those segments is as follows:
- St. Paul, Minnesota to Maplewood, Minnesota - abandoned; now part of the Bruce Vento Regional Trail
- Maplewood, Minnesota to Hugo, Minnesota - now operated by the Minnesota Commercial Railway
- Hugo, Minnesota to North Branch, Minnesota - abandoned; now the Hardwood Creek Regional Trail and Sunrise Prairie Trail
- North Branch, Minnesota to Hinckley, Minnesota - now operated by the St. Croix Valley Railroad
- Hinckley, Minnesota to Duluth, Minnesota - abandoned; now the Willard Munger State Trail
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.