The product is a £100 bond issued by the 1906 Limited of the Manila Railway Company in 1909. This debenture bond represents ownership in the railroad company and provides a source of capital for the company to expand its operations and infrastructure. It is a piece of history that showcases the development of transportation in the Philippines during the early 20th century, making it a valuable collectible item for investors and history enthusiasts alike. not redeemable for face value