Delaware Railroad Company stock certificate circa 1960's
Nice collectible stock cert from this RR. Great train vignette as it passes through a switch yard. Unissued and not cancelled. Circa 1960s per referenced issuance.
The Delaware Railroad is a corporation of the States of Delaware and Maryland, having its principal office at Dover, Del. Although the Delaware Railroad acquired title to its original property on January 23, 1899, it did not commence recording the results of the operation of its property in its books until February 1, 1899. The accounting data in this report, therefore, cover the period from February 1, 1899.
The Delaware Railroad is controlled by The Philadelphia, Baltimore and Washington Railroad Company through ownership of a majority of capital stock. On the other hand this company controls, jointly with the Pennsylvania Railroad, The Philadelphia, Baltimore and Washington Railroad Company, and the New York, Philadelphia and Norfolk Railroad Company, through ownership of 21 per cent of the capital stock, the Baltimore, Chesapeake and Atlantic Railway Company, which operates its own property.
The property of this company was operated from January 23, 1899, the date it took over its original road for operation, to December 31, 1917, by the Philadelphia, Wilmington and Baltimore Railroad Company and it successors, the Philadelphia, Baltimore, and Washington Railroad Company and The Philadelphia, Baltimore and Washington Railroad Company, under lease agreements. On January 1, 1918, the lease of the latter company was assumed by the Pennsylvania and the common-carrier property of the Delaware Railroad was taken over for operation by the United States Railroad Administration as a part of the operating system of the Pennsylvania Railroad, and it is so operated on date of valuation.
The Delaware Railroad was incorporated under authority of special acts of the States of Delaware and Maryland, April 13, 1887, and May 3, 1882, respectively, through filing on January 23, 1899, an agreement dated December 31, 1898, for the purpose of consolidating the property, rights and franchises of the Delaware Railroad Company, Queen Anne's and Kent Railroad Company, as reorganized, Delaware and Chesapeake Railway and The Cambridge and Seaford Rail Road Company. The date of organization of the Delaware Railroad was January 26, 1899. Pursuant to the above purpose, the Delaware Railroad acquired the property, rights and franchises of the four railroad corporations named. The Delaware Railroad, itself, and those corporations, together with their predecessors, total eight different corporations and comprise the line of corporate succession culminating in the Delaware Railroad as at present constituted.
The owned mileage of the Delaware Railroad, amounting to 245 miles, was acquired partly by consolidation and partly by purchase. The property acquired by purchase was bought from The Baltimore and Delaware Bay Railroad Company without acquiring the corporate rights and franchises of that company. Of the seven corporations that comprise the line of succession culminating in the Delaware Railroad as at present constituted, three corporations did not construct any road or other common-carrier property. These companies were the Queen Anne's and Kent Railroad Company, as reorganized, Delaware and Chesapeake Railway Company, and The Cambridge and Seaford Rail Road Company.