B. F. Goodrich Co. - 1970's dated High Denomination $797,000 Bond
Inv# HD1006 Bond
Tire Makers Bond printed by Security-Columbian Banknote Company. Various Extremely High Denominations.Triple vignette of rubber tree, scientist & tire, & large company building. Rare! Especially nice!!!
The Goodrich Corporation, formerly the B.F. Goodrich Company, was an American manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Benjamin Goodrich, the company name was changed to the "B.F. Goodrich Company" in 1880, to BFGoodrich in the 1980s, & to "Goodrich Corporation" in 2001. Originally a rubber manufacturing company known for automobile tires, the company diversified its manufacturing businesses throughout the twentieth century & sold off its tire business in 1986 to focus on its other businesses, such as aerospace & chemical manufacturing. The BFGoodrich brand name continues to be used by Michelin, who acquired the tire manufacturing business in 1988. Following the acquisition by United Technologies in 2012, Goodrich became a part of UTC Aerospace Systems.
In 1869 Benjamin Goodrich purchased the Hudson River Rubber Company, a small business in Hastings-on-Hudson, New York. The following year Goodrich accepted an offer of $13,600 from the citizens of Akron, Ohio, to relocate his business there. The company grew to be one of the largest tire & rubber manufacturers in the world, helped in part by the 1986 merger w/ Uniroyal (formerly the United States Rubber Company). This product line was sold to Michelin in 1988, & the company merged w/ Rohr (1997), Coltec Industries, & TRW Aeronautical Systems (formerly Lucas Aerospace) in 2002. The sale of the specialty chemicals division & subsequent change to the current name completed the transformation. In 2006, company sales were $5.8 billion, of which 18%, 16% & 12% of total revenues were accounted for by the U.S. government, Airbus & Boeing, respectively. Read more at https://en.wikipedia.org/wiki/Goodrich_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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