Collections Item Detail

Stock certificate: Morris & Essex Railroad Co., 10 shares issued to Mrs. Hazel C. Casto, Jan. 21, 1937.

Archive

Scope and ContentStock certificate: The Morris and Essex Rail Road Company, New York, 10 shares, $50 par value, issued to Mrs. Hazel C. Casto, Jan. 21st, 1937. Certificate no. 68929. Engraved and printed paper, 8-1/8" high x 9-3/4" wide; perforations, punches; inkstamps; typewritten; holographic ink. Engraved central vignette of a mid-19th century steam locomotive hauling one freight and three passenger cars. The Morris & Essex Railroad preceded the Delaware, Lackawanna & Western Railroad. It was leased by the D.L. & W. in 1868 and who took control in 1869. It was still the leaseholder at the time this stock was issued. New York was the corporate home although all operations were in New Jersey. Its suburban passenger routes originated or ended at Lackawanna Terminal in Hoboken. See notes for text on reverse regarding the lease. The certificate stated "Rail Road" but was stated as "Railroad" on back. (In 1945, the M.& E. became a wholly owned subsidiary for the D.L. & W.; its suburban routes are still known as the Morris & Essex lines of New Jersey Transit.) Printed by the American Bank Note Co., New York.

Entry/Object ID

2012.007.0073

Acquisition

Accession

2012.007

Source or Donor

Lukacs, Claire

Acquisition Method

Gift

Credit Line

Museum Collections. Gift of a Friend of the Museum.

Archive Details

Date(s) of Creation

1937 - 1937

Archive Notes

Date(s) Created: 1937 Date(s): 1937

General Notes

Note

Notes: Text on back: The Lease from the MORRIS AND ESSEX RAILROAD COMPANY to THE DELAWARE, LACKAWANNA AND WESTERN RAILROAD COMPANY, as amended by the Agreement of June 27th, 1917, contains the following provision as to the payment of rental: In lieu of the stated and contingent interest due or which might otherwise accrue and become due under the terms of said lease, The Delaware, Lacka- wanna and Western Railroad Company, its successors and assigns, shall pay to the holders of the capital stock of The Morris and Essex Railroad Com- pany dividends at the rate of seven and three-fourths per centum (7-3/4%) per annum upon the par value of said stock as follows: Three and one-half per centum (3-1/2%) on July 1, 1917, and three and one-half per centum (3-1/2%) thereafter semi-annually on each first day of January and July during the continuance of said lease and any renewals thereof; three-fourths (3/4) of one per centum (1%) on the first day of July 1917 to the stockholders of record as of May 31st 1917, and three-fourths (%) of one per centum (1%) on each first day of January thereafter during the continuance of said lease and any renewals thereof, all of such payments to be free and clear of all taxes, assessments or impositions whatsoever. Status: OK Status By: dw Status Date: 2012-03-28