New York Central and Hudson River Railroad Company issued to Horatio Nelson Slater - $1,000 BondInv# AG2233 Bond
Horatio Nelson Slater (1808-1888) son of Samuel Slater, Sr. and Hannah Wilkinson. He was a cotton manufacturer. After 1829, Samuel Slater made his sons partners in the new umbrella firm of Samuel Slater and Sons. His son Horatio Nelson Slater completely reorganized the family business, introduced cost-cutting measures and giving up old-fashioned procedures. Slater & Company became one of the leading manufacturing companies in the United States.
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.