Texas and Gulf Railway Co. - Stock CertificateInv# AT99 Stock
Stock from the Atchison Topeka Archive.
Texas and Gulf Railway.The Texas and Gulf Railway Company was chartered on September 14, 1904. The railroad was planned to connect Timpson in Shelby County with a point to the southeast on the Gulf of Mexico, for a distance of 150 miles, and with a point to the northwest near Longview on the line between Texas and the Indian Territory. According to the original articles of incorporation the railroad had a capital stock of $400,000. The principal place of business for the railroad was Longview. The members of the first board of directors were G. M. D. Grigsby of Jefferson and W. B. Ward, F. T. Rembert, M. H. Lillard, J. W. Yates, W. S. Maysfield, and E. F. Young, all of Longview. The Texas and Gulf Railway had five predecessor companies, three of which were acquired by direct purchase. These were the Marshall, Timpson and Sabine Pass Railway Company, the Texas and Sabine Valley Railway Company, and the Texas, Sabine Valley and Northwestern Railway Company. The Texas, Sabine Valley and Northwestern had acquired part of its line from the Galveston, Sabine and St. Louis Railway, which was the successor to the Longview and Sabine Valley Railway Company. The Texas and Gulf constructed 17.6 miles between Timpson and Grigsby from 1905 to 1907 and from 1907 to 1909 built 21.28 miles from Gary to Center. Control of the Texas and Gulf was acquired on April 1, 1906, by the Atchison, Topeka and Santa Fe Railway, who leased it to another subsidiary, the Gulf, Colorado and Santa Fe Railway. The former Texas and Sabine Valley Railway was abandoned prior to 1910, and the twenty-seven miles between Gary and Grigsby were abandoned in 1933. In 1948 the Texas and Gulf was merged into the GC&SF. (Nancy Beck Young, Texas State Historical Association)
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.