US300569A - Coupon-bearing bond - Google Patents

Description

(Model.) 2 sheets-sneer. 1. J. L. CARTER.

COUPON BEARING BOND. No. 300,569. Patented June 17, 1884.

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(Model.) 2 Sheets--Sheet 2.

J. L. CARTER.

GOUPON BEARING BOND. No. 300,569. Patented June 17, 1884.

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Invan'ar Cl l Unirse Sira'rns ,lta'rrzsrr JAMES LOVELL CARTER, 0F BROOKLINE, hIASSAGHUSETTS.

COUPON-BEARING BOND.

:EPECEEIOATIGN forming part of LettersPatent No. 300,569, dated June 17, 1884.

Application iled May 14, (Model.)

o (LZ whom it may concern.-

Be it known that I, JAMES LOWELL UAR- rnn, et' Brookline, in the county of Norfolk and Commonwealth ot' Massachusetts, have invented a new, and useful Improvement in Coupon-Bearing Bonds 5 and I declare the i'ollowing to be a full, clear, and exact description thereof.

Myinvention consists in a coupon-bond having its parts arranged substantially as described hereinafter, and provided with a cut or opening between the bond and coupon sheet, the bond and couponsheet being folded independent, whereby the coupons may be detached in the order they become due, and without unfolding the bond, and the bond may be' unfolded without disturbing the coupons.

tailroad couponbonds and other securities taking the i'orni of a coupon-bond are usually printed upon large rectangular sheets of tough paper. The face et the bond is printed upon the lefthand side of thesheet, its width being a third or more of the longer side ofthe rectangle, and its length the whole of the shorter side. Upon the remainder of the sheetthe coupons are printed, which vary in number according` to the number of years the bond is to run. The coupon side of the sheet is then `folded over onto the bond. Both sheets are then folded in the middle of the longest side. Thissheet is then folded twice, so as to divide it into three equal divisions, the center one of which is indorsed with the number, the name of the bond, &c. The remaining half oi" the back of the bond contains the place for registry, transfer, &c. The bond when open Will thus appear to be divided into six equal rectangular divisions, and the coupoirshcet into the same number, or more, laccordingly as the coupon-sheet was larger or the saine size as the bond. .Ihe coupons are printed upon the iace of the coupon-sheet, and the numbers on the back of the sheet correspond to the numbers on the face. This is the usual fornr ot a coupon-bond; but the coupons are 'fre quently attached to the bottoni of the sheet, and in seine cases are not arranged with reference to the i'olds or creases of the bond, so that many of them will beconic creased when the bond is folded up. It is obvious that with the present construction it is necessary to open or unfold the bond in order to cut oft' or detach the coupons. This, especiallyT When thc sheets are large, is inconvenient, and when a large number of bonds are held hy an individual or corporation takes sonic time. Many of the coupons are also creased or folded, and are inconvenient to handle, and as the bonds are alike this will occur to many coupons of the saine numbers. In the bond I have invented the coupons are so arranged with relation to one another and to the bond that they are not creased in folding thcbond, they can be detached in their proper order Without unfolding the Whole sheet, and the purchaser or holder of the hond can at a glance ascertain the kind of bond, its denomination, read its face, see what registrations havebeen made upon it, the number of coupons which have been cut oil", and that all the coupons which should he attached are with the bond. I use a rectangular sheet ol" paper oi.' convenient size. rIhebond is printed on the let hand side oi" the sheet, and occupies a third or inore of the length oi' the paper and thc Whole ot' its width. "Ihc coupons occupy thc rest ofthe sheet, and are' printed thereon so that a certain number shall he contained in the rectangular spaces into which the sheetis divided byfolding it, which is done as iollows: The sheet is folded through. its center and across the i'aee of the bond, so that the i'ace ol" theY bond shall, be inside. rEhe bond part of the sheet is then folded across its longer side twice to the right into threeequal rectangular divisions, the iniddle one of which iornis the outside or back of the bond and contains the indorsenient, its title, and number. rI'he coupon part of the sheet by alternate folds to the lett and right is Vfolded into spaces or divisions oi' the saine size as those of the bond, and is covered by and contained Within the folds of the bond, the iirst or lower fold or subdivision being folded over onto the righthand subdivision of the bond. The upper half of the back of the bond contains the place for registry, transfer, the. The iol d between the boiid and the coupon parts oi" the sheet is opened by a cut beginning at the bottoni of thc bond and extending to thc iniddle fold, where a Wafer of parchment or any tough ina- IOO terial is placed to prevent its tearing farther, or at this point the cut may be enlarged so as to form a circular hole, which will serve the same purpose as a wafer to prevent tearing. The above arrangement allows the bond to be opened and its face seen, while the coupons remain folded up andy attached to the righthand upper corner or subdivision. The coupons are printed on the spaces or subdivisions into which the coupon-sheet has been divided by folding, as above described, alternately on the front and back of the sheet, each space containing a certainnumber of coupons, the highest series of numbers being on the leftfhand upper subdivision or space of the front ofthe coupon-sheet, highest number at the bottom of the space, or at the inside lower corner at the center fold of the sheet, and the lowest series of numbers being on the righthand lower subdivision or space of the back ofthe sheet, the lowest number being at the right-hand lower corner thereof. The intermediate numbers are printed in series on the remaining spaces or divisions on the front and back of thesheet in such a manner that whem the sheet is folded up, as above described, the coupons will be in regular order from the lowest series of numbers to the highest, one above the other, the lowest numbers of each series being on the outer parts of the spaces, or toward the edge of the sheet.

In the accompanying drawings, making a part ofthe specification, Figure l represents the front ofthe bond and coupon-sheet opened.

Fig. 2 represents the back of the bond and coupon-sheet opened. Fig. 3 represents the bond, showing the face, the coupon-sheet being folded once, so as to show the cut or opening. Fig. 4 represents the bond opened, show! ing the back, the coupons being folded up. Fig. 5 represents the bond folded on the line A B. Fig. 6 is a perspective view of the bond and coupons partly folded.

It will be seen that the coupons are placed in series one above the other, those to be first dev tached being on the upper or outside folds, and

that the necessity of opening or unfold-ing the bond for that purpose is obviated. Y

Small perforations, such as are used in checkbooks between the stub and the check, may be made in the folds of the coupon-sheet and between the separate coupons, so that the latter may be removed without the use of knife or scissors.

My invention may be carried into effect by other forms of a coupon-bond than that described in this specification, this being one of the forms only illustrating itrIhus the coupon-sheet may be attached to the left of the bond, in which case the coupon-sheet, when folded up, would be attached to the left-hand upper corner or space of the bond, instead of as above described. The faces of the coupons may also be all printed upon one side of the sheet and the backs upon the other. In this case, when the bond is folded'as herein de-l scribed, each group of coupons conforming to the folds of the sheet will appear back and face uppermost alternately. v The backs of the coupons will then be dated and numbered, as well as the faces, for guidance in detaching the same.

That I claim as my invention, and desire to secure by Letters Patent, is

1. Acoupon-bond having its parts arranged, printed, and folded substantially as described, so that the coupons will be arranged in series in the subdivisions formed by folding the bond, detachable in the order of their becoming due, and without the bond being unfolded, substantially as and for the purpose herein described.

2. v A coupon-bond having its parts arranged substantially as described, and provided with a cut or opening between the bond and coupon-sheet, the bond and coupon-sheet being folded independent, whereby the coupons may be detached in the order they become due and without unfolding the bond, and the bond may be unfolded without disturbing the coupons, substantially as described.

JAMES LOVELIJ CARTER.

\Vitn esses:

FREDERICK DARNEY, ALFRED I. MOKENZIE.

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