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1891 Charles Dow Twice-Signed Mortgage Bond
Starting Bid - $100.00, Sold For - $522.00
First Mortgage Bond in the amount of $500, dated April 1, 1891 and issued by the Amity Canal, Reservoir and Improvement Company, signed twice by "Charles H. Dow" as "Trustee." Dow has signed the financial document in black fountain pen on the reverse. Each signature is bold and essentially flawless ("9"). Charles Dow (1851-1902) was a journalist and cofounder of the Dow Jones & Co., a news agency formed in 1882 that later published the Wall Street Journal. During the late 1800s the paper began publishing what would later be known as the Dow Jones Industrial Average, an index created to help gauge the overall activity of the stock market. While Dow never took credit for inventing the Industrial Average, the index was unquestionably his brainchild and he spent most of his later years revising the list of companies that comprised it. The bond has had four of its twenty redeemable interest coupons removed and is otherwise in Excellent to Mint condition. Folded: 3.5 x 8.5 inches. Unfolded: 14 x 17 inches. LOA from Steve Grad & Zach Rullo/PSA DNA. Reserve $100. Estimate $200/$400. SOLD FOR $522.00
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