Charles Sanger Mellen - Northern Pacific Railway Co $1,000 Gold Bond signed by Charles Sanger MellenInv# AG1077
Charles Sanger Mellen (1851-1927), Railroad Executive, his early career involved New England Railroads, then the Union Pacific. Close ties with J. P. Morgan obtained him the Presidency of the Northern Pacific in 1892. In 1904, a serious consultant to President Roosevelt. Later returning to the New Haven, he nearly succeeded in monopolizing the transportational system of New England and became President of both the Boston & Maine and the Maine Central. (It is most interesting to note that today Guilford Transportation is owned by Timothy Mellon and he now owns both of the same railroads. He is the grandson of Andrew Mellon). Later, due to serious train accidents, the Interstate Commerce Commission called the Mellen management “one of the most glaring instances of maladministration”. Beautiful 1896 $1,000 Gold bond with superb vignettes has a nice very slightly cancelled signature of Mellen as President. His signature is very rare on this bond. An important autograph. Excellent Condition.
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.