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Central Securities Co. of Asheville, Inc. - $1,000 6% Gold Bond (Uncanceled)

Inv# GB5119   Bond
Central Securities Co. of Asheville, Inc. - $1,000 6% Gold Bond (Uncanceled)
State(s): North Carolina
Years: 1929

$1,000 6% Uncanceled Gold Bond, Northern Bank Note Co., Chicago. 18 of 20 coupons remain. Scarce and Popular State. Asheville (/ˈæʃvɪl/ ASH-vil) is a city in, and the county seat of, Buncombe County, North Carolina. Located at the confluence of the French Broad and Swannanoa rivers, it is the largest city in Western North Carolina, and the state's 11th-most populous city. According to the 2020 census, the city's population was 94,589, up from 83,393 in the 2010 census. It is the principal city in the four-county Asheville metropolitan area, which had a population of 424,858 in 2010, and of 469,015 in 2020.

About the time this bond was issued, The Great Depression hit Asheville quite hard. On November 20, 1930, eight local banks failed. Only Wachovia remained open with infusions of cash from Winston-Salem. Because of the explosive growth of the previous decades, the per capita debt owed by the city (through municipal bonds) was the highest in the nation. By 1929, both the city and Buncombe County had incurred over $56 million in bonded debt to pay for a wide range of municipal and infrastructure improvements, including City Hall, the water system, Beaucatcher Tunnel, and Asheville High School. Rather than default, the city paid those debts over a period of fifty years. Read more at https://en.wikipedia.org/wiki/Asheville,_North_Carolina

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Condition: Excellent

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: $100.00