State of New York Issued to Edsel B. Ford - $1,000 1940 dated Bond
Inv# AB5025 Bond
$1,000 4% Bond printed by Quayle & Sons, Albany, N.Y. Palisades Interstate Park. Issued to Edsel B. Ford (not signed). With 1944 dated transfer sheet.
Edsel Bryant Ford (November 6, 1893 – May 26, 1943) was an American business executive and philanthropist who was the only child of pioneering industrialist Henry Ford and his wife, Clara Jane Bryant Ford. He was the president of Ford Motor Company from 1919 until his death in 1943.
He worked closely with his father, as sole heir to the business, but was keen to develop cars more exciting than the Model T ("Tin Lizzie"), in line with his personal tastes. Even as president, he had trouble persuading his father to allow any departure from this formula. Only a change in market conditions enabled him to develop the more fashionable Model A in 1927. Edsel also founded the Mercury division and was responsible for the Lincoln-Zephyr and Lincoln Continental. He introduced important features, such as hydraulic brakes, and greatly strengthened the company's overseas production.
Ford was a major art benefactor in Detroit and also financed Admiral Richard Byrd's polar explorations. He died of stomach cancer aged 49. Henry Ford temporarily reassumed the presidency of Ford on Edsel's death, then Edsel's eldest son, Henry Ford II, succeeded Henry as president of Ford in 1945.
He was also a member of the board of directors of American IG, the American subsidiary of the German chemical conglomerate IG Farben. Read more at https://en.wikipedia.org/wiki/Edsel_Ford
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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