Set of 3 Stock Certificates of the Saint Paul and Duluth Railroad Co. - 1870's-90's dated Minnesota Railway Stock - Northern Pacific Railroad Archive
Inv# NP1001 Stock
These three 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 Saint Paul and Duluth Railroad Company officially came into existence in 1877 after the financial restructuring of its predecessor, the Lake Superior and Mississippi Railroad (LS&M). Backed by financier Jay Cooke, the LS&M had successfully constructed the first rail link between St. Paul and Duluth in 1870, effectively connecting the navigation routes of the Mississippi River and the Great Lakes. However, the economic turmoil caused by the Panic of 1873 led to the company’s receivership, necessitating the reorganization in 1877. Affectionately known as the “Skally Line”—a nickname derived from Swedish immigrant dialect—the newly established Saint Paul and Duluth Railroad operated a robust 154-mile main line, complemented by essential regional branches. These offshoots connected major hubs such as Minneapolis, Cloquet, and Taylors Falls in Minnesota, as well as Superior and Grantsburg in Wisconsin.
The railroad played a crucial role in the Upper Midwest’s lumber and industrial boom. However, its independent era came to an end at the turn of the century. On June 15, 1900, the Northern Pacific Railway acquired the company for nearly $2.8 million, integrating the “Skally Line” into its extensive transcontinental network. Decades later, corporate evolution continued when a significant merger in 1970 consolidated the Northern Pacific into Burlington Northern. Due to the creation of redundant shipping routes between the Twin Cities and Duluth, a substantial portion of the original, historic tracks was ultimately abandoned. Today, much of the scenic right-of-way has been repurposed into popular public recreational rail-trails, such as the Willard Munger State Trail and segments that intersect the Gateway State Trail. These developments have preserved the historic transportation corridor for modern outdoor enthusiasts.
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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