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DuPont American Industries, Inc. Bond,

Currency:USD Category:Collectibles Start Price:250.00 USD Estimated At:500.00 - 1,000.00 USD
DuPont American Industries, Inc. Bond,

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Auction Date:2007 Jan 31 @ 09:00 (UTC-5 : EST/CDT)
Location:1580 Lemoine Ave., Suite 7, Fort Lee, New Jersey, 07024, United States
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PH: 1-201-944-4800
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Web: www.archivesinternational.com
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The auction will take place in our new office at 1580 Lemoine Ave., Suite 7, Fort Lee, NJ 07024
DE. 1921. Specimen. $10,000. Secured Serial 6% Coupon Gold Bond. Orange. Eagle. This bond series of $25,000,000 was secured with 7,000,000 shares of the common stock of General Motors Corporation. DuPont's link with General Motors began with Pierre S. du Pont, who bought GM stock in 1914. In 1915 Pierre was elected a GM director, then board chairman, to help strengthen GM's management. After World War I, GM executive and former DuPont treasurer John J. Raskob persuaded DuPont's directors to invest $25 million in GM. Pierre became GM's president in 1920. By then DuPont's GM holdings provided half of DuPont's total earnings. DuPont disposed of all its GM stock in 1961. They knew how to put their money to work for them. No imprint. VF.