1885 Northern Pacific Railroad Company Stock Certificate - Wm. Rockefeller

Description

1885 Northern Pacific Railroad Company Stock Certificate - Wm. Rockefeller
1885 Northern Pacific Railroad Company Stock Certificate - Wm. Rockefeller
k510
State: New York
Date: 1885
Color: Orange
Size: 16 3/4 x 8 1/4 (this includes the side stub)
Issued and cancelled. Small 1/2 inch rip on the top edge of the stock. Some minor discoloring on the bottom right. Some pinholes. The side stub is half unglued but still attached. Please look at photo's for condition and signatures.
William Avery Rockefeller, Jr. (May 31, 1841 – June 24, 1922)
William Avery Rockefeller, Jr. was an American businessman and financier. He was a co-founder of Standard Oil along with his older brother John Davison Rockefeller. He was also a prominent member of the Rockefeller family.
In 1865, he entered the oil business by starting a refinery. In 1867, his older brother John's partnership of Rockefeller & Andrew's absorbed this refinery. In 1870, that company became Standard Oil.
Rockefeller was very adept in business matters. He served as the company's New York representative until 1911 when Standard Oil of New Jersey was split up by the United States Supreme Court. He also had interests in copper, railways, and public utilities, and built up the National City Bank of New York, now part of Citigroup.
In the late 1890s, Rockefeller joined fellow Standard Oil principal Henry H. Rogers in forming the Amalgamated Copper Mining Company, a holding company that intended to control the copper industry. Rockefeller, along with Henry Rogers, devised a deceptive scheme which made them a profit of million. First, they purchased Anaconda Properties from Marcus Daly for million, with the understanding that the check was to be deposited in the bank and remain there for a definite time (National City Bank was run by Rockefeller's friends). Rogers and Rockefeller then set up a paper organization known as the Amalgamated Copper Mining Company, with their own clerks as dummy directors, saying the company was worth million.
They then had the Amalgamated Copper Company buy Anaconda from them for million in capital stock, which was conveniently printed for the purpose. Then, they borrowed million from the bank using Amalgamated Copper as collateral. They paid back Daly for Anaconda and sold million worth of stock in Amalgamated Copper to the public. They paid back the bank's million and had a profit of million in cash.
With help from banker John Dennis Ryan, Amalgamated acquired two large competitors, and soon controlled all the mines of Butte, Montana, later becoming Anaconda Copper Company, fourth largest company in the world by the late 1920s.
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