Lake Shore and Michigan Southern Railway Company signed by Jennie Drummond FargoInv# AG1581 Bond
$1,000 4% Gold Bond printed by American Bank Note Company, New York. Signed by Jennie Drummond Fargo, wife of Mortimer Fargo.
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.