Bankers Trust New York Corporation - Specimen Bond - Purple Available Only
Inv# SE1933 Bond
Specimen Bond printed by American Bank Note Company. Purple available only.
Bankers Trust was a significant American banking institution. The bank merged with Alex. Brown & Sons in 1997, subsequently being acquired by Deutsche Bank in 1999. In 2003, Deutsche Bank divested the Trust and Custody division of Bankers Trust to State Street Corporation. In 1903, a consortium of New York national banks established the trust company Bankers Trust to offer trust services to clients of state and national banks across the nation, based on the understanding that it would not attract commercial bank customers. Besides providing standard trust and commercial banking services, it also functioned as a "bankers' bank" by maintaining the reserves of other banks and trust companies, lending them funds when they required extra reserves due to unforeseen withdrawals.
Bankers Trust Company was officially incorporated on March 24, 1903, with an initial capital of $1.5 million. Although it had many stockholders, the voting rights were predominantly held by three associates of J.P. Morgan, leading to its perception as a Morgan enterprise. J.P. Morgan himself maintained a controlling stake, and Edmund C. Converse, a steel magnate who transitioned into finance and later became the president of Liberty National Bank, was appointed as the inaugural president of Bankers Trust.
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.
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