Du Pont Securities Co., 1915 Specimen Bond

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:250.00 USD Estimated At:400.00 - 600.00 USD
Du Pont Securities Co., 1915 Specimen Bond

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Delaware. $1000 Specimen 5% Collateral Trust Serial Gold Coupon Bond, Black print on large ornate green border and under tint, Image of American Bald Eagle at top, Specimen overprints, POC's, VF-XF condition. FLABNC. In 1914, Pierre S. du Pont invested in the fledgling automobile industry, buying stock of General Motors (GM). The following year he was invited to sit on GM's board of directors and would eventually be appointed the company's chairman. In 1921, the "DuPont American Industries, Inc. was formed to financially help GM out of difficult financial conditions by issuing bonds collateralized by the 7 Million shares of GM stock DuPont owned. In 1920, Pierre S. du Pont was elected president of General Motors. Under du Pont's guidance, GM became the number one automobile company in the world. Du Pont Securities Company was intimately involved in the 1920 buyout of GM by the Du Ponts from W.C. Durant, Chevrolet Motor Company and du Pont American Industries in a complicated transaction that involved loaning shares, issuing bonds and other financing methods. Historic company as well as bond. Only 2 found in the archives.