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In the novel "The Clock That Went Backward", in chapter II, there is this sentence:

Aunt Gertrude's will left me her bank and gas stocks, real estate, railroad bonds, and city sevens, and gave Harry the clock.

Please can anyone explain what "city sevens" means?

27

After searching Google I found this blog. It explains that City Sevens are a type of bond issued by cities that pay 7% interest.

This can be seen in this extract I found through Google Books:

Among the new securities are the city ten-per-cents, the city sevens and the city fives, the first, for $1,000,000, issued to pay pressing obligations, the second for $5,000,000, to redeem outstanding city treasury notes and the floating debt, and the third issued in payment for the water-works, agreeably to the charter of the company.

18

Municipal bonds with a nominal interest rate of 7%

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