Michigan Central Railroad Company Issued to the "Will of W.H. Vanderbilt" - $5,000 - BondInv# AG1882 Bond
$5,000 5% Bond printed by American Bank Note Co., New York. Issued to the "will of W.H. Vanderbilt". William Henry Vanderbilt (1821-1885). A businessman and a member of the prominent United States Vanderbilt family. He inherited nearly $100 million from his father Cornelius Vanderbilt and had increased it to about $200 million at his death less than nine years later. At the time, he was the richest man America had ever seen, however his worth was pale in comparison to the likes of John D. Rockefeller and Andrew Carnegie.
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.