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City of Jersey City signed by Frank Hague - $1,000 - Bond

Inv# AG1758   Bond
City of Jersey City signed by Frank Hague - $1,000 - Bond
State(s): New Jersey
Years: 1933

$1,000 Refunding Bond signed by Frank Hague and printed by Hamilton Bank Note New York. Portrait and biography included.

Frank Hague (January 17, 1876 – January 1, 1956) was an American Democratic Party politician who served as the mayor of Jersey City, New Jersey from 1917 to 1947, Democratic National Committeeman from New Jersey from 1922 until 1949, and Vice-Chairman of the Democratic National Committee from 1924 until 1949. Francis "Frank" Hague, born in Jersey City, was the 4th of 8 children to John D. and Margaret Hague (née Fagen), immigrants from County Cavan, Ireland. He was raised in Jersey City's 2nd ward, an area known as The Horseshoe due to its shape which wrapped around a railroad loop. The ward was created when the Republican-controlled legislature gerrymandered a district within Jersey City in 1871 to concentrate and isolate Democratic, and mostly Catholic, votes. By age 14, Hague was expelled from school prior to completing the sixth grade for poor attendance and unacceptable behavior. He worked briefly as a blacksmith's apprentice for the Erie Railroad. While training at a local gym for his own potential debut as a prizefighter, he arranged to become manager for Joe Craig, a professional lightweight boxer. Craig was successful enough to allow Hague to buy a few suits that made him appear successful. In 1896, Hague's apparent prosperity gained him the attention of local tavern owner "Nat" Kenny who was seeking a candidate for constable in the upcoming primary to run against the candidate of a rival tavern owner. Kenny provided Hague with $75 to "spread around", and Frank Hague quickly won his first election by a ratio of three-to-one. Hague has a widely known reputation for corruption and bossism and has been called "the grandaddy of Jersey bosses." By the time he left office in 1947, he enjoyed palatial homes, European vacations, and a private suite at the Plaza Hotel. His wealth has been estimated to have been over $10 million at the time of his death, although his City salary never exceeded $8,500 per year and he had no other legitimate source of income. His desk, according to legend, had a specially designed lap drawer which could be pushed outward towards the person with whom he was meeting. This allowed his "guests" to discreetly deliver bribes in the form of envelopes containing large amounts of cash. However, according to New Jersey preservationist John Hallinan, the drawers were a traditional feature of 19th century partners desks and that "the last thing [Hague] would need to do is take a bribe personally." As of September 2013, the desk was in storage awaiting restoration. During the height of his power Hague's political machine, known as "the organization," was one of the most powerful in the U.S. controlling politics on local, county, and state levels. Hague's personal influence extended to the national level, influencing federal patronage and Presidential campaigns. Hague's pride and joy was the Jersey City Medical Center, which he began creating almost as soon as he became mayor. By the 1940s it had grown into a 10-building complex that provided virtually free medical care to Jersey City residents and was one of the biggest medical facilities in the country. Even at the time it was too large to operate cost-effectively, including the Margaret Hague Maternity Hospital in honor of his mother. As of 2006, only two of the buildings were still in use. The remainder were slated to be redeveloped as a luxury condominium complex called the Beacon.

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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.