Northern Alabama Coal, Iron and Railway Co. - 1900 dated $1,000 5% Railroad Gold Bond (Uncanceled)
Inv# RB5195 Bond
New Jersey
$1,000 5% Gold Bond. Uncanceled. Superb triple vignette at top and mining scene at bottom. American Bank Note Co. Many coupons. Excellent Condition! Exceptional! In relation to this railroad, Hiram Bond was born May 10, 1838, in Farmersville, Cattaraugus County, New York and died in Seattle March 29, 1906. He was a corporate lawyer, investment banker and an investor in various businesses including gold mining. As a result of the ethical performance of his position being Master of Bankruptcy for Virginia he was respected there and in the South even by many former Confederates despite being a Radical Republican. This led to Judge Hiram Bonds involvement with the northern Alabama coal mining industry. He began by purchasing a house at Decatur and helping form a new company Decatur Land Improvement and Furnace Company there in 1887 as vice president and general manager. This company was formed with Major Eugene C. Gordon the brother of Governor John Brown Gordon of Georgia. He then became involved with Tennessee Coal, Iron and Railroad Company.
Judge Hiram Bond was the Chief Operating Officer of the Tennessee Coal, Iron and Railroad Company from 1889 to 1891. The TCI resulted from a combine of interests between a number of coal, coke and iron operations in Tennessee and Northern Alabama. Judge Bond was made an officer at the same time as John C. Brown a former General and Governor of Tennessee. The largest holders of the company stock were in two groups, one being led by a Southerner John H. Inman, the other group by New York State Republican Boss Thomas C. Platt. On Gov. Brown's death he was replaced as President by Platt. The Southerners won out in time though due to discomfort the Northerners felt over convict leasing and the poor initial performance of the stock. The Inman's removed Bond from his office, but by then he was already doing projects in other places. Read more at https://en.wikipedia.org/wiki/Hiram_Bond#Alabama;_Tennessee_Coal,_Iron_and_Railroad_Co.
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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