Michigan Central Railroad Co. Issued to George Law - Autograph Railway Bond
Inv# AG2494 Bond
$1,000 5% Bond issued to George Law of New York, but not signed.
George Law (October 25, 1806 – November 18, 1881) was an American financier from New York. His only early education was winter night school. At the age of eighteen, he left his father's farm and after walking to Troy, he learned the trades of masonry and stonemasonry in Hoosic. He was employed with the Delaware and Hudson Canal in 1825, then superintended the making of canal-locks at High Falls. Afterward he went to the mountains of Pennsylvania to quarry stone for locks, and was employed as a mechanic on canals. In June 1829, he was awarded a contract for a small lock and aqueduct on the Delaware and Hudson Canal. Self-taught, he studied and made himself a good engineer and draughtsman and became a large contractor for the construction of railroads and canals. Read more at https://en.wikipedia.org/wiki/George_Law_(financier)
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.
Ebay ID: labarre_galleries