Saint Paul and Duluth Railroad Co. Issued to and Signed by Charles D. BarneyInv# AG2094A Stock
Stock Issued to and signed by Charles D. Barney on the back. Document is lightly toned.
Charles D. Barney (1844-1945)
Charles D. Barney was an American stockbroker.
Born in Sandusky, Ohio, Barney married the daughter of prominent Philadelphia financier Jay Cooke. Following the collapse of his father-in-laws Philadelphia banking house, in December of 1873 Charles D. Barney and Jay Cooke, Jr. as a minority partner, formed the stock brokerage firm, Chas. D. Barney & Co.
In 1938, Charles D. Barney & Co. and Edward B. Smith & Co. merged to form Smith Barney & Co.
Charles D. Barney died in 1945 at the age of 101 at Elkins Park, Pennsylvania near Philadelphia.
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.