New England Telephone and Telegraph Co. - Bond
Inv# GB5040 Bond
Telephone and Telegraph Bond. Various Denominations. Left corner vignette of female on pay phone. American Bank Note Co. Rare!!!
The New England Telephone and Telegraph Company was a very early company set up to develop the then-new telephone.
New England Telephone and Telegraph lasted only a year as a separate entity, from 1878 to 1879, and had no direct relationship with the later company of the same name, which after the breakup of the Bell System in 1984 became part of the NYNEX Corporation, now part of Verizon.
The New England Telephone and Telegraph Company was formed February 12, 1878, by investors in the states of Massachusetts and Rhode Island at the behest of an agent of Gardiner Greene Hubbard, the father-in-law of telephone inventor Alexander Graham Bell.
New England Telephone and Telegraph merged with the Bell Telephone Company (which was started on the basis of holding "potentially valuable patents"), on February 17, 1879, to form the National Bell Telephone Company, at which time Theodore Vail took over its operations. The National Bell Telephone Company merged with others on March 20, 1880 to form the American Bell Telephone Company.
The American Bell Telephone Company was later purchased by its own subsidiary, American Telephone & Telegraph (AT&T) on December 30, 1899. Thus share ownership of New England Telephone and Telegraph evolved into ownership of AT&T. AT&T would later undergo mergers with SBC Communications and BellSouth to become The New AT&T.
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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