Boston and Maine Corporation stock certificate

Description

Boston and Maine Corporation stock certificate
Boston and Maine Corporation stock certificate
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State(s): Delaware
Years: 1967
Color: Green
Size: 12in x 8in
Company History: During the nineteenth century, The Boston and Maine Railroad grew to provide rail service in Massachusetts, New Hampshire and Maine. It was an amalgamation of small branch lines, consolidated in 1841. By 1900 this company attracted both individuals and corporations interested in stock dividends. Among those were American Express Co. and the Pullman Co. who acquired large holdings at the turn of the century. In 1907, the New York, New Haven and Hartford Railroad, a consolidated corporation in the State of Connecticut and the Commonwealth of Massachusetts, purchased the American Express holdings and tried to secure control of the Boston and Maine by further purchase of stocks. This was allowed in Connecticut, but prohibited in Massachusetts. Legal battles ensued. William B. Lawrence, an attorney from Medford, MA, emerged as a leader of the minority of Boston and Maine stockholders opposed to the merger. It took several years to resolve the conflict, and in 1909 the General Court of Massachusetts authorized the incorporation of the Boston Railroad Holding Company. Its sole purpose was to acquire and hold capital stock for the Boston and Maine Railroad. In 1916 the federal government ruled that the Boston and Maine stock was acquired illegally. It took several years to complete the sale of the stock held by NY, New Haven & Hartford RR. This company with its colorful legal history became the Boston & Maine Corp. in 1964.
Boston & Maine Railroad logo vignette by American Bank Note.
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