Pacific Packing and Navigation Co. - $1,000 1902 dated Shipping Bond
Inv# SB5016 Bond
$1,000 5% Gold Bond printed by American Bank Note Company, New York. All but 1 coupon remain. Pacific Packing and Navigation Company is a defunct salmon-canning company which operated in the U.S. state of Alaska. Incorporated under the laws of New Jersey and backed by eastern capitalists, it was formed during the spring of 1901, the idea of Roland B. Onnfroy. It consolidate into one corporation the properties and privileges of other Alaska companies and firms. It proposed to capitalize the new corporation as follows: 6 per cent debentures, $7,000,000; 7 per cent cumulative preferred stock, $12,500,000; common stock, $12,500,000. Read more at https://en.wikipedia.org/wiki/Pacific_Packing_and_Navigation_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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