Dutch company pays interest on a 1648 bond

    image
    Source Beinecke Library / Yale University

    In 1648, the Dutch company De Stichtse Rijnlanden issued a perpetual bond, the proceeds of the sale of which were to go to build a small river pier on the River Lek, which is now one of the main shipping lanes in the country. A security paper is a piece of specially processed goatskin leather measuring 20 by 33 centimeters. The declared value of the bond at the time of its issue was 1,000 guilders, which is approximately $ 509 at the current rate.

    Yale University (USA) acquireda bond in 2003 for 24,000 euros as a museum exhibit and from that moment did not show interest in it as a security with which one could receive income. Only after a telephone conversation between university staff and Stichtse Rijnlanden, which was done for academic purposes, it became clear that the Dutch company was not against paying interest. On Monday, September 21, a symbolic receipt of funds will be sent to Yale, and the money in the amount of 136.20 euros will be transferred to the university account.

    If you look closely at the bond, you can see that money on it has been paid since 1943. The annual payment is 25 guilders in the equivalent of 11.34 euros. In addition to this document, at least 4 more similar artifacts are known for which Dutch companies still pay interest. The oldest of the bonds dates back to 1624.

    Also popular now: