Jeptha H. Wade - Memphis & Little Rock Railway - BondInv# RB5347
$1000 7% Uncancelled Bond. All 32 coupons present. Printer-Henry Seibert & Bros, NY. Jeptha H. Wade (1811-1890), Financier. Wade was one of the founders of the American commercial telegraph system. He started as an itinerant painter of portraits and branched out into photography when he learned of the invention of the daguerreotype and purchased a camera to widen his field of portraiture. The news of the success of the telegraph in 1844 led him to study the possibilities of the invention of Morse and in 1847 he contracted to build a telegraph line from Detroit to Jackson "a frail, one wire affair." Other lines, known as the Wade Lines, followed in rapid succession. In 1856, most of these lines were combined in the Western Union Telegraph Co. Wade became general agent. Western expansion put the pony express out of business and prepared the way for the transcontinental railroad and the daily mail. Later in 1866, he became President of the enlarged Western Union. He moved to Cleveland and was involved in banking, railroad building and management. Great Southern Bond signed by Jeptha H. Wade at back as a Trustee. A great autograph on a great bond!!!
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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