Lot 5368 email save

Mercantile Marine Organization Bond - J.P.Morgan

Specimen Bond. $1000. 4 1/2 % Mortgage Gold Bond. Brown border with steamship with 4 smoke stacks. Coupons attached. ABNC. XF Condition. The IMM was originally the International Navigation Co.. It was formed as a shipping trust company by J.P. Morgan on October 1, 1902 as an attempt to monopolize the shipping trades. The company is noteworthy for having owned the RMS Titanic. J.P. Morgan & Co. announced the detailsof the organization of the IMM on October 1, 1902. In fact the IMM was not a new company, but a reorganization and renaming of the INC. The capital stock was increased from $15 million to $60 million preferred and $60 million common stock and an issue of $50 million in 4 1/2 percent bonds was authorized. In his usual domineering manner he assumed control and the IMM is usually described as one of Morgan's creations. Extremely Rare and historic.