In 1846, the Pennsylvania Railroad was created. It was one of the stodgiest blue-chip stocks in American history, even making dividend payments during the Civil War. In fact, from 1846 through 1946, it never cut its dividend and found itself boasting the longest streak in world history without a dividend cut. It was a symbol of American capitalism, as it operated 10,515 miles of rail line throughout Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, West Virginia, and Washington DC.
To a lot of people, it was America. It employed 250,000 people at its height. Pennsylvania’s breadth and power was so extensive that one out of every 2,000 men in the country worked at this east coast railroad company. When the dividend held steady at $2 per share during the Great Depression, it was those $200 checks for every 100 shares owned that prevented some families … Read the rest of this article!