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In finance, a bond is a type of security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to provide cash flow to the creditor. The timing and the amount of cash flow provided varies, depending on the economic value that is emphasized upon, thus giving rise to different types of bonds. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure.
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John Pierpont Morgan was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was a driving personal force behind the wave of industrial consolidations in the United States at the turn of the twentieth century.
A corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, mergers & acquisitions, or to expand business. It is a longer-term debt instrument indicating that a corporation has borrowed a certain amount of money and promises to repay it in the future under specific terms. Corporate debt instruments with maturity shorter than one year are referred to as commercial paper.
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W. R. Grace and Co. is an American chemical business based in Columbia, Maryland. It produces specialty chemicals and specialty materials in two divisions: Grace Catalysts Technologies, which makes polyethylene and polypropylene catalysts and related products and technologies used in petrochemical, refining, and other chemical manufacturing applications, and Grace Materials and Chemicals, which makes specialty materials, including silica-based and silica-alumina-based materials, which are used in commercial products such as sunscreen and in chemical process applications.
Western North-Carolina Railroad Company was incorporated under act of North Carolina on February 15, 1855. Western North Carolina Railroad Company went through several slight changes in name and reorganizations before being sold at foreclosure on August 21, 1894, and conveyed to Southern Railway (U.S.) on August 22, 1894.
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The Guano era refers to a period of stability and prosperity in Peru during the mid-19th century. It was sustained on the substantial revenues generated by the export of guano and the strong leadership of president Ramón Castilla. The starting date for the guano era is commonly considered to be 1845, the year in which Castilla started his first administration. It ended shortly after the war between Spain and Peru in 1866.
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Michael Paul Grace was an Irish-American businessman who was a shareholder and chairman of the board of directors of W. R. Grace and Company shipping company of New York City and of Grace Brothers & Co. Ltd. of London, England.
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The Charleston Terminal Company was a transportation company that operated along the Charleston, South Carolina, waterfront in the early part of the 20th century.
Lake View Cemetery is a privately owned, nonprofit garden cemetery located in the cities of Cleveland, Cleveland Heights, and East Cleveland in the U.S. state of Ohio. Founded in 1869, the cemetery was favored by wealthy families during the Gilded Age, and today the cemetery is known for its numerous lavish funerary monuments and mausoleums. The extensive early monument building at Lake View helped give rise to the Little Italy neighborhood, but over-expansion nearly bankrupted the burial ground in 1888. Financial recovery only began in 1893, and took several years. Lake View grew and modernized significantly from 1896 to 1915 under the leadership of president Henry R. Hatch. The cemetery's cautious management allowed it to avoid retrenchment and financial problems during the Great Depression.
Auguste Dreyfus was a French businessman who made his fortune by financing the Peruvian trade in guano. Dreyfus joined a small textile trading firm set up by three of his elder brothers and moved to Lima, Peru to act as their local representative. He became involved in the guano trade, and in 1869 signed a major contract with the Peruvian government that gave him a monopoly over exports of Peruvian guano to Europe. With this he controlled the largest source of Peruvian national income.
Panay Railways Inc. is a government-owned and controlled corporation of the Philippines headquartered in La Paz, Iloilo City on the island of Panay. It is a subsidiary of Phividec Railways Inc. of the Philippine Veterans Investment Development Corporation (Philvedec). The railway currently doesn't operate any trains but it leases the property that it owns and the revenue is used to defray the personnel and administrative costs incurred from looking after its assets.
Beginning in 1969, the government of Peru issued sovereign bonds as compensation for land expropriation during the Peruvian land reform under General Juan Velasco Alvarado. The government's aim was to redistribute land and reform the country's agrarian infrastructure. Payments on these bonds halted in 1992 due to periods of hyperinflation. The agrarian bonds have been recognized as outstanding sovereign debt obligations by Peru's highest courts, who have stated that these bonds should be repaid. However, today the debt remains unpaid, and the government of Peru has yet to clarify means and ultimate value of compensation to current bondholders.
The Peruvian nitrate monopoly was a state-owned enterprise over the mining and sale of saltpeter created by the government of Peru in 1875 and operated by the Peruvian Nitrate Company. Peru intended for the monopoly to capitalize on the world market's high demand for nitrates, thereby increasing the country's fiscal revenues and supplementing the financial role that guano sales had provided for the nation during the Guano Era (1840s-1860s).
The Pennsylvania Petroleum Railroad was a railroad in Pennsylvania originally chartered in 1871, during the Pennsylvania oil rush. Intended to provide an additional outlet from the Pennsylvania oil fields to Erie, Pennsylvania, it graded about ten miles of line in 1872, but was then caught up in the collapse of the Atlantic and Great Western Railroad, which halted the project. The company was foreclosed and reorganized under new names many times, but accomplished relatively little. It laid a short segment of line in 1890 in Titusville, Pennsylvania which was leased to a subsidiary of the New York Central to be used as a siding to a tannery. Further construction took place in 1913 with the idea of opening it as an electric railway to Cambridge Springs, but this, too, was never completed.
References
- ↑ "The Peruvian Corporation". The New York Times . 15 October 1897. Retrieved 27 December 2011.
- 1 2 "PERUVIAN CORPORATION ARCHIVES". Archives in London and the M25 area. Retrieved 27 December 2011.
- ↑ The Law journal reports (Public domain ed.). E.B. Ince. 1908. pp. 387–. Retrieved 26 December 2011.
- ↑ United States. Federal Trade Commission (1916). Report on Cooperation in American Export Trade: Exhibits (Public domain ed.). G.P.O. pp. 184–. Retrieved 26 December 2011.
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