Uncanceled Twenty Year Income Bond. Dated 1923. Higgins & Gollmar Inc. Lithograph Company of NY. Path or Path Frres is the name of various French businesses that were founded and originally run by the Path Brothers of France starting in 1896. In the early 1900s, Path became the world's largest film equipment and production company, as well as a major producer of phonograph records. In 1908, Path invented the newsreel that was shown in cinemas before a feature film. Path is a major film production and distribution company, owning a number of cinema chains through its subsidiary Les Cinmas Path Gaumont and television networks across Europe. It is the second oldest operating film company behind Gaumont Film Company which was established in 1895. The company was founded as Socit Path Frres (Path Brothers Company) in Paris, France on 28 September 1896, by the four brothers Charles, mile, Thophile and Jacques Path. During the first part of the 20th century, Path became the largest film equipment and production company in the world, as well as a major producer of phonograph records. The driving force behind the film operation and phonograph business was Charles Path, who had helped open a phonograph shop in 1894 and established a phonograph factory at Chatou on the western outskirts of Paris. The Path brothers began selling Edison and Columbia phonographs and accompanying cylinder records and later, the brothers designed and sold their own phonographs that incorporated elements of other brands. Soon after, they also started marketing pre-recorded cylinder records. By 1896 the Path brothers had offices and recording studios not only in Paris, but also in London, Item ordered may not be exact piece shown. All original and authentic.