Accumulator Co. Bond signed by Theodore Newton Vail - (Uncanceled)
Inv# GB5429 Bond
$1,000 6% Uncanceled Gold Bond signed by Theodore Vail as president. He was the 1st president of AT&T.
Theodore Newton Vail (July 16, 1845 – April 16, 1920) was president of American Telephone & Telegraph between 1885 and 1889, and again from 1907 to 1919. Vail saw telephone service as a public utility and moved to consolidate telephone networks under the Bell system. In 1913 he oversaw the Kingsbury Commitment that led to a more open system for connection.
Theodore was born on July 16, 1845, in Malvern, Ohio, and was educated in Morristown, New Jersey. He initially studied medicine with his uncle. He also studied telegraphy. Success in telegraphy inspired him to go to New York City, where he became manager of a local telegraphy office. He then joined the staff of a superintendent of United States Telegraph, which ultimately became Western Union. Read more at https://en.wikipedia.org/wiki/Theodore_Newton_Vail
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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