Ling-Temco-Vought, Inc. - $1,000 - Bond
Inv# SE1869 Bond
$1,000 5 3/4% Specimen Bond printed by American Bank Note Company. Ling-Temco-Vought (LTV) was a large US conglomerate which existed from 1961 to 2000. At its peak, it was involved in aerospace, airlines, electronics, steel manufacturing, sporting goods, meat packing, car rentals, and pharmaceuticals, among other businesses.
It began in 1947 as Ling Electric Company, later named Ling-Temco-Vought, followed by LTV Corporation and eventually LTV Steel until its end in 2001. In 1947, entrepreneur James Ling founded an electrical contracting business, Ling Electric Company, in Dallas, Texas. He lived in the rear of the shop. After incorporating and taking the company public in 1955, Ling found innovative ways to market the stock, including selling door-to-door and from a booth at the State Fair of Texas.
In 1956 Ling bought L.M. Electronics, and in 1959 added Altec Electronics, a maker of stereo systems and speakers. In 1960 Ling merged the company with Temco Aircraft, best known for its missile work. In 1961, using additional funding from insurance businessman Troy Post and Texas oil baron David Harold Byrd they acquired Chance Vought aerospace in a hostile takeover. The new company became Ling-Temco-Vought. Read more at https://en.wikipedia.org/wiki/Ling-Temco-Vought
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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