Northern Pacific Railroad Company Stock Issued to the American Baptist Publication Society and Endorsed by Longtime Prominent Baptist Minister A. J. Rowland

New York. 1888. This Certifies, that American Baptist Publication Society is proprietor of One Hundred full paid Shares, One Hundred Dollars each, of the Preferred Stock of the Northern Pacific Railroad Company issued in accordance with the plan adopted at the Bondholders’ meeting of June 30th 1875, transferable in person or by Attorney on the Books of the Company at the office of the Treasurer, or at any transfer agency established by the company, upon the surrender of this Certificate.

Rev. Alfred J. Rowland was a nineteenth-century Baptist clergyman and denominational administrator who served as Secretary and Treasurer of the American Baptist Publication Society, one of the largest religious publishing organizations in the United States during the Gilded Age. His signature appears on financial and corporate documents connected with the Society’s investments, including railroad securities such as Northern Pacific Railroad stock certificates.

The American Baptist Publication Society, founded in 1824, played a central role in Baptist religious education and publishing in America. Headquartered in Philadelphia, the Society produced:

• Bibles,

• Sunday school materials,

• hymnals,

• missionary literature,

• theological works,

• and Baptist periodicals distributed throughout the United States and abroad.

During the late nineteenth century, major religious organizations commonly invested reserve and endowment funds in railroad securities, then considered among the most important income-producing assets in the American economy. Rowland’s signature on transfer endorsements demonstrates his authority to administer or transfer these holdings.

The period during which Rev. Rowland served coincided with the dramatic expansion of American Protestant institutional culture, and the national railroad and financial system.

Religious publishing societies increasingly adopted sophisticated corporate structures, employing professional financial management similar to banks, insurance companies, and universities. Clergymen-administrators such as Rowland bridged the worlds of ministry, publishing, philanthropy, and finance