Eastern States Refrigerating Co. - 1922 dated Refrigeration Company Bond (Uncanceled)
Inv# GB5228 Bond
$1,000 7% Uncanceled Gold Bond. Security Bank Note Co., Phila. 43 of 60 coupons remain. Refrigeration is any of various types of cooling of a space, substance, or system to lower and/or maintain its temperature below the ambient one (while the removed heat is ejected to a place of higher temperature). Refrigeration is an artificial, or human-made, cooling method.
Refrigeration refers to the process by which energy, in the form of heat, is removed from a low-temperature medium and transferred to a high-temperature medium. This work of energy transfer is traditionally driven by mechanical means (whether ice or electromechanical machines), but it can also be driven by heat, magnetism, electricity, laser, or other means. Refrigeration has many applications, including household refrigerators, industrial freezers, cryogenics, and air conditioning. Heat pumps may use the heat output of the refrigeration process, and also may be designed to be reversible, but are otherwise similar to air conditioning units. Read more at https://en.wikipedia.org/wiki/Refrigeration
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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