The Bessemer "Consolidated Iron Company" $500 Bond

I recieved this bond from my grandfather. I don't know much about bonds at all and i hope by posting this online i will learn more about this. It is tittled on the front as " The Bessemer Consolidated Iron Company" and below the tittle is labeled as seven per cent gold bond. The bond folds up and out. It was issued in 1888. It also says "interest payable...at the Office of the American Loan and Trust Company in the city of New York".
This bond is also signed by the president and secretary of the company.
If anyone has any more information on this item it would be greatly appriciated!