Library Stock Certificates

Membership libraries which required the purchase of stock or payment of a subscription fee preceded free public libraries.  Library stock certificates for these libraries are very collectible items.  Ronald Rayman in an article entitled "Taking Stock:  Financing Libraries in the 19th Century in the November 15, 1982 issue of Library Journal discussed these stock certificates.  He indicated that library related stock certificates were uncommon, and that a dealer in stock certificates had indicated that only about one certificate in 10,000 might be a library issue.  The collecting of stock certificates is part of a hobby called "scripophilly". 

The Mercantile Library Company of Philadelphia was founded in 1821under the name "Philadelphia Library Association".  It started out as a subscription library but started issuing stock in 1826. 

This certificate was issued by the Public School Library Society of St. Louis in 1867.  The Library Society was the predecessor of the St. Louis Public Library.

The Saint Louis Mercantile Library Association is one of the few mercantile libraries that have survived.