Sinclair Oil Corporation - 1960's dated Oil Bond - Various Denominations Available
Inv# GB5053 BondVarious Denominations 4 3/8% Bond printed by Columbian Banknote Company. Scarce!! Sinclair Oil Corporation is an American petroleum corporation, founded by Harry F. Sinclair on May 1, 1916, as the Sinclair Oil and Refining Corporation by combining the assets of 11 small petroleum companies. Originally a New York corporation, Sinclair Oil reincorporated in Wyoming in 1976. The corporation's logo features the silhouette of a large green dinosaur, based on the then-common idea that oil deposits beneath the earth came from the dead bodies of dinosaurs. It is ranked on the list of largest privately owned American corporations. It owns and operates refineries, gas stations, hotels, a ski resort, and a cattle ranch.
Sinclair has long been a fixture on American roads with its dinosaur logo and mascot, a Brontosaurus. During September 1919, Harry Sinclair restructured Sinclair Oil and Refining Corporation, Sinclair Gulf Corporation, and 26 other related entities into Sinclair Consolidated Oil Corporation. In 1932, this new entity was renamed Consolidated Oil Corporation. In 1943, it was renamed Sinclair Oil Corporation.
Near the beginning of the Great Depression, Sinclair sold the remaining interest in its pipeline subsidiary to Standard Oil Company (Indiana) for US$72.5 million (Standard Oil had purchased a 50% interest in the pipeline subsidiary in 1921). With these funds, including an additional US$33.5 million from an additional common stock issue, Sinclair retired several promissory notes and prepared to weather the Depression with the remaining supply of cash. https://en.wikipedia.org/wiki/Sinclair_Oil_Corporation
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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