Firestone Tire and Rubber Co. - $1,250,000 Automotive Bond
Inv# AB5026 Bond
$1,250,0004 1/4% Bond printed by American Bank Note Company. Rare! Firestone Tire and Rubber Company is an American tire company founded by Harvey Firestone in 1900 initially to supply solid rubber side-wire tires for fire apparatus, and later, pneumatic tires for wagons, buggies, and other forms of wheeled transportation common in the era. Firestone soon saw the huge potential for marketing tires for automobiles, and the company was a pioneer in the mass production of tires. Harvey Firestone had a personal friendship with Henry Ford, and used this to become the original equipment supplier of Ford Motor Company automobiles, and was also active in the replacement market.
In 1988, the company was sold to the Japanese Bridgestone Corporation. Firestone was originally based in Akron, Ohio, also the hometown of its archrival, Goodyear, and two other midsized competitors, General Tire and Rubber and BFGoodrich. Founded on August 3, 1900, the company initiated operations with 12 employees. Together, Firestone and Goodyear were the largest suppliers of automotive tires in North America for over 75 years. In 1906, Henry Ford chose Firestone to supply tires for its car models. In 1918, Firestone Tire and Rubber Company of Canada was incorporated in Hamilton, Ontario, and the first Canadian-made tire rolled off the line on September 15, 1922. During the 1920s, Firestone produced the Oldfield tire, named for racing driver Barney Oldfield. Read more at https://en.wikipedia.org/wiki/Firestone_Tire_and_Rubber_Company
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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