Skip to main content

Randolph-Macon Coal Co. - 1905 dated $1,000 Missouri Mining Bond (Uncanceled)

Inv# MB5009   Bond
Randolph-Macon Coal Co. - 1905 dated $1,000 Missouri Mining Bond (Uncanceled)
State(s): Missouri
Years: 1905
Color: Red and Black

$1,000 5% Uncanceled Gold Bond. American Bank Note-NY. Legal overprints in text. 56 of the original 60 coupons. Very Attractive!!!

The Randolph-Macon Coal Company was a Missouri corporation, and was duly adjudicated a bankrupt March 26, 1907, in proceedings instituted in the district court of the United States, in and for the eastern division of the eastern judicial district of Missouri. Byron F. Babbitt was duly appointed trustee in bankruptcy for the corporation May 10, 1907, and duly qualified by giving bond on that day.

He thereafter made demand upon the president of the company for the delivery to him of the corporate records and stock books of the bankrupt company, which were kept in the office maintained by the company in New York city. This request was refused by letter of the president of the company, dated September 24, 1907, in which he says that he is advised 'that such records and stock books are not documents relating to the property of the bankrupt, and therefore you, as trustee in bankruptcy, are not entitled to their possession.' Read more at https://en.wikisource.org/wiki/Babbitt_v._Dutcher

Condition: Excellent

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $124.50