US997356A - Bond. - Google Patents

Description

H. W. ALLEN.

BOND.

APPLICATION FILED APR. 12. 1909.

Patented `July A11, 1911.

2 SHEETS-SHEET 1.

COLUMBIA PLANOURAPH co., WASHINGTON. n. c.

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BOND.

APPLICATION FILED APR. r12. 1909.

INTeRNmoNAL CoMPANY TREMIIRE R.

Gum/muso PRoFrr SHARM@ Crum-1cm:

FOR YEAR ENDING JUNE 50. l9l0.

me: INrcRNATnoNAL ConPANY @THE LEGAL Mal-lill4 WI LL Treasvru'.

GUARANTEED PRpFrr SHARING Ccm'lrlom'e Fon YEAR Enom@ June 50. |954.

. Tn: INrcnnAr-:oNAL CoMPANv WILL PAY T0 mi! LEGAL HOI-DER und payable on July LIQZJI.

."' and will bedvc Treasurer:

COLUMBIA PLANOGRAPH cn., wAsmNa'rnN. n. C.

Patented July 11,1911.

2 SHEETS-SHEET 2.

1:1 .LU 911er ATTORNEYS UNTTED sTATEs PATENT oEEicE.

` HENRY vW. ALLEN, OF NEW YORK, N. Y., kASSIGNOR TO INTERBOROUGH REALTY COMPANY, A CORPORATION OF NEW YORK.

` BOND.

.To all whom it may concern:

a citizen of the United States, and a resident of New York, borough of Brooklyn, county ,of Kings, and State of New York, have invented certain new and useful Improvements in Bonds, of which the following is a full, clear, and exact description.

This invention'relates more particularly to a bond employed in connection with cominercial enterprises, and which has certificates and interest bearing coupons formed as a part thereof.

The primary object of the invention is to provide a bond kin which the bond besides its face value has a number of profit sharingA certificates formed as a part thereof, and also has a number of interest bearing coupons the value of eachof which is based upon the value of the bond and the profit sharing certificates,which latter increase in value according to the length of time before the maturity of the bond, thus making the bond serve on the face of the same as receiving benefits from the profits of the business in addition to the interest bearing coupons by which the bond becomes very attractive for business enterprises.

A further object ofthe invention is to provide a bond which is capable of use for various purposes.

With these and other objects in View, the invention will be hereinafter more particularly described with reference to the accompanying drawings, which form a part of this specification, and will then be pointed out in the claim at the end of the descrip tion.

In the drawings, Figure 1 is a plan view of one form of bond embodying my invention. Fig. 2 is an enlarged detail view of one of the coupons detached. Fig. 3 is anenlarged detail view of one of the profit sharing certificates; and Fig. 4i is a detail end view of the final or last profit sharing certificate.

While I shall show and describe a bond of a certain face value and profit sharing certificates and interest bearing coupons of a certain character and each increment increasing at a certain rate, it will be under stood that the value of the bond as well as the arrangement and the nature of the certificates and coupons may be changed with- Speecaton of Letters Patent. Patented July 11, 1911 Application mea April 12, 1909.

Serial N0. 489,415.

' out departing from the character of the Be it known that I, I-IENRY WV. ALLEN,v

invention.

The body of the bond 10 may have the usual or any preferred form of reading matter according to the nature of the bond and the purpose for which it is intended, and the said bond may represent any value. As shown the bond has a face value of one thousand dollars, and is intended to mature in twenty-five years, though this term may vary. At one side of the bond is arranged a number of certicates 11 which are intended4 as a part of profit sharing, and

each certificate represents a fixed face value for each year at the rate of two per cent. There are twentyfour certificates at the side of the body of the bond and the twenty-fifth certificate, as 12, appears on the face of the body of the bond, and it is in tended that thes'e certificates should not be detached. Each certificate will have on the face thereof the year in which it becomes due, as at 13, and the face value, as `at 111, and such other matter as would be proper to indicate the character of the certificate and any agreement that may form a part thereof. It will be seen that each certificate shows on the face thereof its value, and

when the certificates share in the profit at the rate of two per cent. as indicated on the face value of the bond, as for example one Vthousand dollars, the last certificate will represent fifteen hundred dollars or fifty per cent. over and above th'e face value of the body of the bond.

In addition to the profit sharing certificates and at the side of the body of the bond opposite the certificate are the interest bearing coupons 15. As shown these coupons are payable semi-annually and there are therefore fifty coupons or double the number of the profit sharing certificates. The coupons for each year have their value computed on the face value of they bond and the certificate of the corresponding year,

that the interest is based upon the face value of the bond and the profit sharing certificates, and these certificates increase in value each succeeding year until the mat-urity of the bond. The bond thus has interest bearing coupons based on the bond and the profit sharing certificates and thereby in-` creasing in value each year instead of simply coupons bearing interestbased on the face value of the bond.

An important advantage resulting from the location of the consecutively numbered coupons at one side of the central portion of the Abond is that the profit sharing certificates and the central portion of the sheet need not be unfolded when it is desired to remove a coupon, and the consecutive order of `the coupons arranged in vertical rows permits the coupon end of the bond to be folded only along the vert-ical spaces between the rows of coupons in such a manner as to expose to View only one vertical row of coupons in the order in which `they are to be detached.

Another advantageous feature of t-he improvement is that the last-due profit-sharing certificate is borne upon the face or body of the bond so that upon surrender of the bond at maturity the face of the bond. serves as a record of the paymentof said last-due certificate.

It Will be understood that the arrangement of the coupons and the certificates as; Well 'as the interest may vary Without del parting from the characterof the invention.

From the foregoing it Will be seen that av bond is provided which has greater elasticity and possibility of change to adapt the same for various `enterprises tha-n the usual bond in which only the interest coupons are employed, and that said bond may be made to provide an attractive proposition and may be used for various purposes.

Having thus described my invention, I claim as new and desire to secure by Letters Patent A bond having upon its face the substance of the contract, and 'having a sheet secured to itat one side, bearing lines and printed matter, subdividing said sheet into a series of certificates, each certificate bearing indicia of the face value of the bond according to the terms of the contract at each of Aa series of periods of time from `the date of the bond until its date of maturity, the

bond Valso having a sheet secured to it at another portion, bearing lines and printed matter, subdividing said last mentioned sheet into a series of certificates, each certificate bearing indicia indicating the sum of interest payable at the periods stated in the said certificates respectively, and which amount is based upon the face value of the bond Vas 'expressed in each of the said -respective face value certificates.

This specification signed and witnessed this 9th day of April A. D. 1909.

HENRY W. ALLEN.

Vitnesses M. DINNHAUPT, LESTER C. TAYLOR.

Copies of this patent may be obtained for ve cents each, by addressing the Commissioner of Patents, Washington, D. C.

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