Canal Department, State of New York

Inv# CN1011   Bond
Canal Department, State of New York
State(s): New York
Years: 1871
$500 6% Bond. Loan under the act to provide for deficiencies in the Sinking Funds under the provisions of Article seven of the Constitution. Printer John E. Gavit-Albany. Rare! Exceptional!

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.

Item ordered may not be exact piece shown. All original and authentic.
Price: $175.00