Otis Elevator Co. - $1,000 Bond - General Bonds for Sale

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Otis Elevator Co. - $1,000 Bond - General Bonds For Sale

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Otis Elevator Co. - $1,000 Bond - General Bonds:
$100.00

$1,000 6 1/2% Bond printed by American Bank Note Company. Otis Worldwide Corporation (branded as the Otis Elevator Company, its former legal name) is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment. Based in Farmington, Connecticut, U.S, Otis is the world\'s largest manufacturer of vertical transportation systems, principally focusing on elevators, moving walkways, and escalators. The company pioneered the development of the \"safety elevator\", invented by Elisha Otis in 1852, which used a special mechanism to lock the elevator car in place should the hoisting ropes fail. The Otis Elevator Company was acquired by United Technologies in 1976, but it was spun off as an independent company 44 years later in April 2020 as Otis Worldwide Corporation. In 1852 Elisha Otis invented the safety elevator, which automatically comes to a halt if the hoisting rope breaks. After a demonstration at the 1853 New York World\'s Fair, the elevator industry established credibility. The Otis Elevator Company was founded in Yonkers, New York in 1853 by Elisha Otis. When Elisha died in 1861, his sons Charles and Norton formed a partnership and continued the business. During the American Civil War, their elevators were in high demand due to the shipment of war materials. Businesses throughout the United States purchased them. In 1864, with the partnership of J.M. Alvord, the company became known as Otis Brothers & Co. In 1867, Otis opened a factory in Yonkers, New York, the city where the company was founded. In 1925, the world\'s first fully automatic elevator, Collective Control, was introduced. In 1931, the company installed the world\'s first double-deck elevator in New York City. Otis opened a factory in Bloomington, Indiana in 1965. Item ordered may not be exact piece shown. All original and authentic.