International Sale, Part XIX

International Mercantile Marine Company, 1916 Specimen Bond, Owner of the Titanic. New Jersey, 1916, $500, 6% First Mortgage and Collateral Trust Sinking Fund Gold Coupon Bond Specimen, Black on orange border and underprint, Large ship approaching harbor with tug boats surrounding it, VF-XF condition. One of IMM's subsidiaries was the White Star Line, which owned the RMS Titanic. IMM was overleveraged and suffered from inadequate cash flow that caused it to default on bond interest payments in late 1914. As a result, a "friendly" receivership was put in effect in 1915, which allowed IMM to reorganize its finances; it emerged from the receivership in 1916 which this rare bond is representative of. Saved by World War I, IMM eventually reemerged as the United States Lines, ABNC. Only 3 found in the archives. Rare and Historic bond.