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Description:
w390
State(s):
Delaware
Years: 1955
Color: Purple
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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