Name: Boston Railroad Holding Company
Brand: Ghosts of Wall Street
SKU: 309
Price: 12.0 USD
Availability: OutOfStock

Boston Railroad Holding Company Stock Certificate

In stock
Inventory on the way

Product Details

Certificate Type	Preferred Stock
Date Issued	Unissued, circa 1910's
Canceled	No
Printer	American Bank Note Company
Signatures	NA
Notable	NA
Approximate Measurements	12" (w) by 8" (h)
Product Images	Representative of the piece you will receive
Guaranteed Authentic	Yes

Tags

Historical Context

During the nineteenth century, the Boston and Maine Railroad grew to provide rail service in Massachusetts, New Hampshire and Maine. By 1900, this profitable venue attracted not only individuals interested in handsome stock dividends but other corporations as well. Among those were American Express Company and the Pullman Company who acquired large holdings of Boston and Maine Railroad stock at the turn of the century. In 1907, the New York, New Haven and Hartford Railroad --a consolidated corporation created by concurrent legislation of the State of Connecticut and the Commonwealth of Massachusetts -- purchased the American Express holdings and proceeded to secure control of the Boston and Maine by further purchase of stocks. The New York, New Haven and Hartford Railroad hoped to merge the two railroads with control firmly held by New York capitalists such as J. P. Morgan.

The validity of the purchase of stocks authorized by the laws of Connecticut, but prohibited by the laws of Massachusetts, became an issue upon which litigation was started. Hearings were held before the Committee on Railroads of the Massachusetts Legislature, concerning the proposed merger of the two railroads. In question was the legality of how the stock was acquired as well as whether this action would violate Federal anti-trust laws. William B. Lawrence, an attorney from Medford, Massachusetts, emerged as a leader of the minority of Boston and Maine stockholders opposed to the merger. The anti-merger faction not only questioned the legality of the merger, but they loudly protested the possibility of a distinctly New England operation being managed outside of Boston.

The debate on the merger took several years to be resolved. The General Court of Massachusetts, at its 1909 session, authorized the incorporation of the Boston Railroad Holding Company for the sole purpose of acquiring and holding capital stock of the Boston and Maine Railroad. By 1912, the Holding Company maintained absolute control of Boston and Maine. In 1916 the federal government decided that the New York, New Haven, and Hartford Railroad had indeed acquired the Boston and Maine stock illegally. The judge, hearing the case, appointed five trustees who were under decree to use their best efforts to complete the sale of the stock held by the New York, New Haven, & Hartford Railroad before 1918; it was extended to 1920.

Additional Information

Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!

All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.

FAQ

Are the certificates offered on your site genuine or reproductions?

All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.

Are the certificates you sell negotiable on any of today's stock markets or indexes?

No. All of the pieces we sell are either canceled or obsolete and have collectible value only.

Are the images presented in your product listings of the exact piece I will receive?

It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.

How will you ship my order and how much do you charge?

We ship all orders via the United States Postal Service. For orders taking advantage of standard (First Class) shipping within the United States, we offer flat rate pricing, so you pay only the advertised shipping charge regardless of the number of pieces you purchase. Current charges may be reviewed here. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout.

Can I return my purchase?

Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.

We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.