Lake Superior Corporation - 1904 dated $1,000 General Gold Bond
Inv# GB5508 Bond
$1,000 5% Gold Bond printed by International Bank Note Co., New York. Unique vignette! Never Seen. Attractive! Rare! The Algoma Eastern Railway (reporting mark AER) was a railway in Northeastern Ontario, Canada. Originally known as the Manitoulin and North Shore Railway (M&NS) with a charter dating back to 1888, the full mainline was opened to traffic in 1913, serving the area along the north shore of Lake Huron between Sudbury and Little Current on Manitoulin Island. It and its sister railway, the Algoma Central, were originally owned by the Lake Superior Corporation, a conglomerate centered on Sault Ste. Marie which was founded by the American industrialist Francis Clergue. Despite ambitious plans to expand across Lake Huron to the Bruce Peninsula using a railcar ferry, the company failed to develop further and was acquired by the Canadian Pacific Railway in 1930. With freight traffic low during the Great Depression, Canadian Pacific soon abandoned much of the Algoma Eastern mainline in favor of its own Algoma Branch. Remaining sections of the Algoma Eastern line were turned into spurs, with the longest surviving section operated as a branch line known as the Little Current Subdivision. Read more at https://en.wikipedia.org/wiki/Algoma_Eastern_Railway
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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