James C. Fargo - Michigan Central Railroad - BondInv# AG1067
James C. Fargo (1829-1915), Express Company Executive, Brother of William G. Fargo. In 1866 he went to New York to become Superintendent and Manager of the American Express Co. and in 1881 became President. Also President or Director of other companies. This high denomination $5,000 bond of the Michigan Central Railroad Company is dated 1890's and is issued to "The Treasurer of the American Express Co". The Treasurer, Charles Clark signs at back. James C. Fargo also signs at back as President of the American Express Co. in 1901. Stub attached at left border. Nice uncancelled signature of Fargo. Excellent Condition and Extremely Rare! From the Syracuse University Collection.
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.
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