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United Aircraft Corporation - Bond - American Aircraft Manufacturer formed by the break-up of United Aircraft & Transport Corporation

Inv# VB5008   Bond
State(s): Delaware
Years: 1970's
Color: Green

$1,000 Bond. Female figure seated on throne with an airplane in one hand and a staff in the other. The United Aircraft Corporation was an American aircraft manufacturer formed by the break-up of United Aircraft and Transport Corporation in 1934. In 1975, the company became United Technologies.

The Air Mail scandal of the early 1930s resulted in a rebuilt air mail system, under the Air Mail Act of 1934, in which carriers and their equipment manufacturers (e.g., of airframes and engines) could no longer be owned by the same company. The United Aircraft and Transport Corporation was broken up on September 26, 1934, as a result of this new law. The corporation's airline interests went on to become United Airlines. Its manufacturing interests east of the Mississippi RiverPratt & Whitney, Chance Vought, and Sikorsky—remained together as the new United Aircraft Corporation, headquartered in Hartford with Frederick Rentschler, founder of Pratt & Whitney, as president. All manufacturing interests west of the Mississippi became part of a revived Boeing Aircraft.

The latter half of the 1930s saw military procurement buildups around the world as governments foresaw possible war on the horizon. United Aircraft sold to both the United States Army and the United States Navy, but the Navy's requirements for carrier-based aircraft, with maximized power-to-weight ratios for minimized takeoff runway length, were always more in tune with the specialties of United's subsidiaries (Pratt & Whitney, Chance Vought, and Sikorsky). United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. United Aircraft, subsequently known as United Technologies, has remained a component of the Dow Jones Industrial Average since that time. Read more at https://en.wikipedia.org/wiki/United_Aircraft

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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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Price: $25.00