Texaco, Inc - dated 1970's Gas and Oil Bond - Acquired by ChevronInv# GB5089 Bond
Various Denominations. Oil rigs, ships, buildings, train, tanks. A vignette with much detail. American Bank Note Co. Texaco, Inc. ("The Texas Company") is an American oil brand owned and operated by Chevron Corporation. Its flagship product is its fuel "Texaco with Techron". It also owned the Havoline motor oil brand. Texaco was an independent company until its refining operations merged into Chevron, at which time most of its station franchises were divested to Shell plc through its American division.
Texaco began as the "Texas Fuel Company", founded in 1902 in Beaumont, Texas, by Joseph S. Cullinan, Thomas J. Donoghue, and Arnold Schlaet upon the discovery of oil at Spindletop. The Texas Fuel Company was not set up to drill wells or to produce crude oil. To accomplish this, Cullinan organized the Producers Oil Company in 1902, as a group of investors affiliated with The Texas Fuel Company. Men such as John W. ("Bet A Million") Gates invested in "certificates of interest" to an amount of almost ninety thousand dollars. Future restructuring would merge Producers Oil Company and The Texas Fuel Company as Texaco when the company needed additional funding, which J.W. Gates provided in the amount of approximately $590,000 in return for company stock. Read more at https://en.wikipedia.org/wiki/Texaco
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.