Ajax Consolidated Coal Company - $1,000 BondInv# MB5003A Bond
R. J. Ross, Superintendent, Blame, W. Va. Upper Potomac Pine, operated by the Ajax Consolidated Coal Company, is located at Hubbard, on the main line of the Western Maryland Railroad, and is a drift opening working the Lower Kittanning or Davis six-foot seam of coal, and is reached by a long incline plane from the head of which a tram road leads to the mines. The coal is hauled by mules and a steam locomotive. Ventilation is by a steam-driven fan and is good. Drainage is poor in some sections of the mine. During the year they employed 74 men and produced 8,790 tons of coal. This mine was idle a considerable part of the year. This was written in an annual report of the Mine Inspector from 1914 to 1915.
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.