City of Galt - 1954 dated $1,000 Canadian Municipal Bond
Inv# FB6791 Bond
$1,000 4 1/4% Bond printed by British American Bank Note Co Ltd Ottawa. Ontario, Canada. Galt is a community in Cambridge, Ontario, Canada, in the Regional Municipality of Waterloo, Ontario, on the Grand River. Before 1973, it was an independent city, incorporated in 1915. However, it amalgamated with the village of Hespeler, the town of Preston, and the village of Blair to form the new municipality of Cambridge. As the largest constituent community in the city, it is commonly regarded as the downtown core of Cambridge. The first mayor of Cambridge was Claudette Millar.
There was significant resistance among the local population to this "shotgun marriage" arranged by the provincial government, and a healthy sense of rivalry had always governed relations among the three communities. Even today, many residents identify Galt, Preston, and Hespeler as still being cities or towns in their own right. Each unique center has its own well-documented history in the Cambridge City Archives.
No current population data is available for the former Galt since the census reports cover only the full area of Cambridge. The former Galt covers the largest portion of the amalgamated municipality, making up the southern half of the city. It is located on the Grand River and has a long history as an industrialized area. The former Preston and Blair are situated on the western side of the city, while the former Hespeler is in the most northeasterly section of Cambridge.
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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