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Dear collector,

After our record breaking 50th auction last spring, we present you today with a novelty: a live internet + mailbid auction.
This means you can participate by sending in your absentee bids before the auction (just as in our previous auctions),
or by bidding live online through the technology of the Arfact/Invaluable platform (to be accessed from our website,
www.booneshares.com). This implies the auction will NOT be conducted in our regular Antwerp auction room.
We opted for this flexible and efficient formula as the best way to present to you a medium-sized auction consisting of
the broadly varied and high quality lots you are used to be offered from us. This leaves us time in the weeks and months
to come to further develop several new exciting initiatives aimed to better than ever before serve the collector community.
More on this shortly.
Finally, I can already announce that on April 5-6, 2014 we will organize our 52nd International Antwerp Auction &
Bourse. This will, as in previous years, again be a truly important scripophily event you do not want to miss.
Yours sincerely,
Mario Boone
Managing Director Centrum voor Scriptophilie

CATALOGUE INDEX

Saturday 12 October 10h – 17h: Live Internet + Mailbid Auction


AUSTRALASIA Germany 281 – 292
Fiji 1 G.D. Luxembourg 293 – 335
Netherlands Indies 2–3 Great Britain 336 – 357
The Pacific 4 Greece 358 – 360
New Caledonia 5 Hungary 361 – 362
New Hebrides 6 Italy 363 – 370
K&K Mon./Austro-Hungarian Empire 371 – 377
ASIA Monaco 378
Burma 7 – 10 Netherlands 379 – 394
China 11 – 31 Norway 395
India 32 – 38 Poland 396 – 404
Indochina 39 – 54 Portugal 405 – 415
Iran (Persia) 55 – 56 Romania 416 – 420
Iraq 57 Russia 421 – 515
Japan 58 – 60 Spain 516 – 551
Malaysia 61 – 63 Switzerland 552 – 554
Turkey/Ottoman Empire 555 – 561
AFRICA (former) Yugoslavia 562 – 564
Algeria 64 – 67 Freemasonry 565 – 568
Belgian Congo 68 – 76
Egypt 77 – 81 THE AMERICAS
French Guinea 82 Argentina 569 – 573
Madagascar 83 Bermuda 574
Mali 84 Bolivia 575
Morocco 85 Brazil 576 – 583
Reunion (Ile) 86 Canada 584 – 590
Somalia 87 Colombia 591 – 592
South Africa 88 – 94 Cuba 593 – 595
Syria 95 Dominican Republic 596
West Africa 96 El Salvador 597
Tunisia 97 French Antilles 598
Haiti 599 – 600
EUROPE Honduras 601
Austria 98 – 101 Mexico 602 – 610
Belgium 102 – 167 Panama 611
Bulgaria 168 – 171 Peru 612 – 620
(former) Czechoslovakia 172 – 173 Venezuela 621 – 624
Estonia 174 - 176 United States of America 625 – 663
France 177 – 280
Practical Information
How to bid in the auction ?
1. Live internet bidding : we work with Artfact/Invaluable. You find all necessary information and direct link on our website
www.booneshares.com. Don’t forget to register at least 48h before the auction. Contact us if you need any help. There is no
extra charge for live online bidding.
2. bidding in advance : (e)mail or fax the enclosed bid form as soon as possible, or submit your absentee bids through
www.booneshares.com – “absentee bidding” (you must first register). Note that we must receive your absentee bids at the
latest on Thursday 10 October 10 p.m.
3. Bids should be made in EUR (though we accept payments in €, US$ and and £ sterling).
4. Bidders we do not know can be asked references and/or a deposit. So, if you wish to participate for the first time, do
contact us well in advance.
5. The prices in the catalogue are minimum start prices below which no bids will be accepted.
6. Bid steps : if your bid is €300 and the next highest bid is €200, the hammer price will be €220. (see below for overview of the
bid steps)
7. Sales commission is 15% (private EU residents pay 21% VAT on the sales commission, resulting in a total sales commission
of 18.15%).

Lot previewing (during the 3 weeks prior to the auction day)


By appointment, at the address of Centrum voor Scriptophilie BVBA:
Kouter 126, B-9800 Deinze, Belgium - tel. 0032.(0)9.386.90.91, fax 0032.(0)9.386.97.66, mario.boone@skynet.be

Bidding Steps (euro)


€10 to €50 : +€5
€50 to €200 : +€10
€200 to €500 : +€20
€500 to €1000 : +€50
€1000 to €2000 : +€100
€2000 to €5000 : +€200
€5000 to €10.000 : +€500
€10.000 to €20.000 : +€1000
Above €20.000 : +€2000

Condition Ratings
UNC = Uncirculated (as new)
EF = Extremely Fine (in almost perfect condition)
VF = Very Fine (definite signs of use, for instance some edge damage, modest staining)
F = Fine (considerable signs of use such as pieces of paper missing, tired condition)
VG = Very Good (serious damage such as badly torn and/or large pieces of paper missing)
G = Good (in truly terrible condition, we normally don’t offer such pieces)

How to receive the result list of this auction and our next auction catalogue?
The result list will be on www.booneshares.com the Monday following our auction.
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As a non-EU resident you can send us your credit card information, or pay through PayPal (mario.boone@skynet.be).
If you subscribe to our next auction catalogue, you will also receive automatically the result list of that auction.

Don’t hesitate to contact us if you have any questions !


Mario Boone
Kouter 126, B-9800 Deinze, Belgium
tel 0032-(0)9.386.90.91
fax 0032-(0)9.386.97.66
mario.boone@skynet.be.

!!! www.booneshares.com for live online bidding !!!

Your collection could be here !


We’re always interested in complete collections or high quality individual certificates. Our auctions reach the most important
scripophily collectors worldwide and our conditions are very competitive. Contact us for more information.

2
FIJI (company capital 100.000 Guilders). 2. 1918, guts feeling, we propose to attribute this
blue & black (capital 500.00 Guilders). Both pretty piece to New Caledonia. Extremely
have one small and repaired edge-tear. rare.
Trading company founded in Medan, the 1880 VF-EF EUR 200
capital of the province of North Sumatra.
Company name also in Chinese - remarkable.
Reflecting Chinese interests/investors/trade
business???
1917+1918 VF EUR 100

NEW HEBRIDES

1 MANGO ISLAND CO. LTD


FIJI : MELBOURNE. Debenture of £100. black.
#400. No 185. Ma(n)go Island is a volcanic
island that lies in the northwest sector of
Fiji's northern Lau Group of islands. It is one
of the largest private islands in the Pacific
Ocean (22 square km) and was bought in
6 BECHADE DES NOUVELLES-HEBRIDES, SOC
2005 by Hollywood actor Mel Gibson for $15 THE PACIFIC NEW HEBRIDES : PORT-VILA. Action de
million. In the 1860s, Australians built on the
F1000. orange, black. #8000. No 1949. A
island a sugar cane plantation plus mill and
shipping and trading company which was
for this purpose founded the Mango Island
originally founded by the French noble
Co. The mill was shut down in 1895. The
Gabriel de Béchade in 1888 and
bond we offer here is part of a £40,000 loan.
headquartered in Nouméa, the capital of
5 March 1883 VF EUR 100
New Caledonia. In the 1920s, the company
NETHERLANDS INDIES moved operations to the New Hebrides
(Port-Vila), this is another French former
territory in the Pacific, since independence
(1980) known as Vanuatu.
22 July 1926 EF EUR 100
4 COLLECTION "THE PACIFIC" (8 pieces)
FRENCH POLYNESIA/ OCEANIE. 1. CIE. BURMA
NAVALE & COMMERCIALE DE L'OCEANIE,
Obligation de F500 7%, 1928. 2. CIE.
IMMOBILIERE ET AGRICOLE DE L'OCEANIE,
Part de Fondateur, 1929. 3. Same, Action
"Série A" de F100, 1928. 4. Same, Action
"Série B" de F100, 1929. 5. Same, 1930. 6.
CIE. MARITIME DU PACIFIQUE, Action de
F500, 1891. 7. CIE. NAVALE DE L'OCEANIE,
Action de F500. 8. SOC. MARITIME ET
COMMERCIALE DU PACIFIQUE, Bon de F500
6%, 1920. Unusual collection of 8 different
shares of French-financed companies
operating in the Pacific. The French had a
major colonial empire in that region, the
most important places being French
2 DE ASAHAN PLANTAGE MAAATSCHAPPIJ Polynesia, New Caledonia and the New 7 RANGOON IRON BAZAAR CO., LTD
NETHERLANDS INDIES : AMSTERDAM. Hebrides. BURMA : RANGOON. 1 Share of Rs.25. red,
Aandeel groot Fl.1000. brown, green. #750. 1891-1929 VF-EF EUR 300 black. #4000. No 1229. Decorative border
and large vignette of the covered market
No 298. Folds. Very pretty large format piece NEW CALEDONIA place in Rangoon. Burma, or Myanmar as it
(unusual for scrip from the Dutch Indies) 5 SUCRERIE-DISTILLERIE & EXPLOITATION
with vignette of the Asahan River (Sumatra) known today, gained its independence from
AGRICOLE DE LA NOUVELLE-FRANCE, S.A.
and the tropical river borders, with a man in Britain in 1948. A military coup followed in
NEW CALEDONIA : PARIS. Action de F100.
colonial outfit on watch. Produce could have 1962. Over the past few years, a transition
green, black. #2000. No 304. A superb
been coffee, sugar, cacao and/or rubber. towards democracy is taking place with a
certificate, with a wide border full of views
18 June 1901 VF EUR 90 leading role for Nobel prize winner Aung San
of busy harbours, plantations, distilleries and
3 HWA SENG KONGSIE, ADMINISTRATIE- Suu Kyi. This company was founded in 1946,
much else. The problem is that we can't find
KANTOOR EN HANDEL-MIJ. (2 types) so before independence and thus under the
'Nouvelle-France (Océanie)'. Not even
NETHERLANDS INDIES : SUMATRA. MEDAN. 1866 (British) Indian Companies Act.
Larousse or google knows of it. Based on our
Aandeel Fl.100. 1. 1917, green & blue 31 October 1946 VF-EF EUR 100

3
available to collectors. Fine underprint of a bonds. Text in English & French. Sold by the
dragon in clouds of fire. Text in French, Banque de l'Indo-Chine.
Russian, English. To be repaid from customs 1 March 1909 VF EUR 100
duties. Few of these pieces are offered, and
generally cancelled by 5 large holes. This
piece however, doesn't have any
cancellation holes. Sold in St. Petersburg and
with an additional Russian guarantee by
Ukase of Czar Alexander III.
1895 EF EUR 800
12 EXPLORATIONS MINIERES EN CHINE S.A.,
8 BURMESE NATIONAL BANK LTD (4 types) SOC. FRANCAISE D'
BURMA : RANGOON. 1. Ordinary Shares of CHINA : PARIS. Action de F100. green.
20 Rupees, 1948. 2. Ordinary Shares of 20 #10000. No 1807. Formed in Paris in 1896 to
Kyat, 1953. 3. Shares of 100 Kyats, 1963. 4. acquire a gold/mercury mine in Kweichow
Shares of 10 Kyats, 1963. Each certificate has province, and a silver/lead mine in Hunan.
a somewhat different design with the first Printed by Chaix, Paris.
two having text all in English except for 1 February 1903 VF EUR 40
company name which is also in Burmese.
The 2 later shares however are completely in
Burmese, except for the title which is also in
English. Also several adhesive tax stamps.
The bank was founded in 1948, and was the
first Burmese-owned bank to be formed 15 ANGLO-FRENCH (PEKING-HANKOW
after the country gained its independence. RAILWAY) LOAN OF 1908
1948-1963 VF EUR 50 CHINA : LONDON. 5% Bond for £100. Cat.
9 BURMA MINES LTD KUL 181. lilac, red, black. #24000. No 855.
BURMA : Ordinary Shares of 3/6. blue, black. Trimmed borders with small splits. Issued by
No 61108. One repaired edge-tear at the the Hong Kong and Shanghai Banking Corp.
bottom. This is a lead/zinc mine operating in 13 CREDIT FONCIER CHINOIS S.A.
See previous lot. Top denomination.
Namtu Badwin (Shan State) with a mining CHINA : PARIS. Part Bénéficiaire. green,
1 March 1909 VF EUR 160
history going back to the 15th century. black. No 4900. This is the only type known
16 TIENTSIN-PUKOW SUPPLEMENTARY
Nationalised in the 1960s as the "No. 1 of this company. Text in French and Chinese,
LOAN 1910
Mining Enterprise". and name in Chinese in a bamboo frame,
CHINA : LONDON. 5% Bond for £20. Cat. KUL
27 June 1952 VF EUR 30 and generally decorative piece.
201. red, green, black. No 2576. Central fold
10 TAVOY BANK LTD 15 May 1910 EF EUR 150
and a tiny piece of paper missing at the right
BURMA : TAVOY. Shares of 10 Kyats. green, border (outside the printed part of the
black. No 695. A bank from the port city of certificate). Despite the large numbers
Tavoy, today known as Dawei, in issued, these bonds are relatively rare. This
southeastern Myanmar. is due to the fact that most of them were
15 August 1957 VF EUR 40 bought by the German Government and
CHINA returned to China.
1 November 1910 VF EUR 30

17 GOVERNMENT OF THE PROVINCE OF


PETCHILI GOLD LOAN OF 1913
CHINA : ANTWERP. 5,5% Gold Bond for £20.
Cat. KUL-290. brown, red, black. #25000. No
13532. Unusual long format, with pretty
14 ANGLO-FRENCH (PEKING-HANKOW
vignette of boats on a mountain lake. One of
RAILWAY) LOAN OF 1908
the very few Belgian loans to China. Coupons
CHINA : PARIS. 5% Bond for £20. Serie B. Cat.
28-80 attached.
KUL 182. green, black, red. #125000. No
4 April 1913 VF EUR 1.000
96529. Trimmed borders with a few small
splits. This loan, for £5 million, was raised by
the Hong Kong & Shanghai Bank, London,
11 GOUVERNEMENT IMPERIAL DE CHINE
and the Banque de l'Indochine, Paris, partly
CHINA : ST.-PETERSBURG. 4% Obligation Or
to redeem bonds of 1899, issued to build the
de F500=Rmk.404=Rbls.125. Cat. KUL-55. railway, and partly to establish industries.
brown, red, black. #500000. No 499990.
The line, 755 miles long, opened in 1905.
Central fold, otherwise in excellent
Very fine vignette of the old gate of Peking,
condition. Franco-Russian Gold Loan. Very
and one of the most attractive of all Chinese
attractive early bond, one of the first types

4
18 GOVERNMENT OF THE PROVINCE OF #200. No 2029. Two repaired edge-tears at
PETCHILI GOLD LOAN OF 1913 the top, but in much better than average
CHINA : ANTWERP. 5,5% Gold Bond for £20. condition. Loan raised in London for
Cat. KUL-290. brown, red, black. #25000. No £600.000. Kuhlmann states that half of the
13530. As previous lot. loan was to buy 200 wireless telephones for
4 April 1913 VF EUR 1.000 the army. The other half was for current
expenses of the government. The only
Chinese bonds known, hand signed by a
Minister, Kung Hsin Chang, who has signed
as Minister of Finance. He became President
of the Central Government. Scarce top
denomination.
1918 VF EUR 430 25 TRAMWAYS & D'ECLAIRAGE
ELECTRIQUES DE SHANGHAI, CIE. FR.
CHINA : PARIS. Action de F250, unissued.
green, buff, black. #200000. Formed 1906 to
acquire a concession for electric tramways in
the French concession in the city of
Shanghai, with lines to other parts of the
international zone, and into Chinese
territory. Also for electric-lighting in the
19 CHINESE GOVERNMENT GOLD LOAN
French concession and along the routes it
CHINA : ST. PETERSBURG. 5% Gold Bond for
serves. Border of dragons and Chinese
£20. Cat. KUL-RAB Belg.307. brown, red,
architecture. Hole-cancelled, unissued, with
black. No 735799. Sold by the Russian-Asian
stub and complete coupon sheet.
Bank in Belgium. Coupons 52-94 attached.
1928 EF EUR 200
21 May 1913 VF EUR 100
20 LUNG-TSING-U-HAI RAILWAY
CHINA : BRUXELLES. 5% Gold Bond of £20.
Serie B. Cat. KUL 281. blue, green, red.
#40000. No 219970. Folds.
1 January 1913 VF EUR 30

26 UNION COMMERCIALE ET INDUSTRIELLE


POUR LA MANDCHOURIE S.A.
CHINA : PARIS. Cert. Nominatif de 40 Actions
de F250. brown, buff. No 40. Folds and some
edge-damage with small splits (outside the
printed part of the certificate). First time we
see this nominative type.
23 BELGO-MANDCHOUE DE COMMERCE SA
3 June 1930 F-VF EUR 100
CHINA : MANCHURIA. BRUXELLES. Action de
Capital de F500. brown, yellow. #2000. No
1764. Large format share, of a company
formed for import and export with all
countries of the Far East. The directors had
particular rights and projects in Manchuria,
now the north-eastern region of China.
1920 EF EUR 50
21 CHINESE CENTRAL GOVERNMENT LOAN:
AUSTRIAN LOAN I
CHINA : PEKING. 6% Bond for £100. Cat. KUL
311A. green, red, black. #1000. No 9743.
Folds, a few pin-holes and a little staining at
the bottom right, but certainly in above
average condition. Officially communicated
by the Wai Chiao Pu to the Minister in
Peking for Austria-Hungary. As this loan was
completely redeemed in 1925 (Skoda Loan
24 MINISTRY OF COMMUNICATIONS
II), these so-called 'Austrian Loans' are
CHINA : PEKING. 8% Bond for $1.000. purple, 27 CHINESE GOVERNMENT 23RD YEAR
extremely rare and wanted.
buff, red seal. No 1850. Text on one side in CHINA : 6% Bond for £1000. Cat. KUL 852.
1913 VF EUR 2.900
Chinese, the other in English. Colourful red, blue, black. #1000. No 6769. Text in
22 MARCONI LOAN
piece, with flowers. Large red 'chop' seal. Chinese and English. This top value of this
CHINA : PEKING/LONDON. 8% Treasury Bill
Rare high denomination. issue is difficult to find. The original Boxer
of £1000. Cat. KUL 432. yellow, red, black.
29 June 1925 EF EUR 250 indemnity loans of 1901, to compensate

5
Britain and several other countries for company was established by Belgian Baron sector electricity generating company with a
damage incurred during the Boxer rebellion, Edouard Empain to link the railroads capacity of over 7700 MW. Based in
were replaced in 1934. This is one of the Kaifong-Fou to Honan-Fou with the Peking- Mumbai. Part of the Tata Group, one of the
bonds issued to reimburse Britain. Portrait of Hankow railroad - a missing link of 185km largest conglomerates in India and with
President Sun Yat Sen. In superb condition. known as the Chemin de fer du Pien-Lo. The operations worldwide.
1 June 1934 EF EUR 1.350 line opened in 1909. (Reference book: 1 April 1920 VF EUR 100
Edouard Empain: esprit fécond, 36 AZAM JAHI MILLS, LTD
entrepreneur conquérant, by Jacques Simar, INDIA : HYDERABAD, DECCAN. 1 Share of
2013, ed. The Scripophily Center). Rs.100. green, black. #18000. No 14046.
1947 UNC EUR 50 Large underprint of the factory buildings.
Est. 1932 in Warangal district in Hyderabad
State. Taken over by the National Textile
Corp. from Bangalore in 1974.
2 April 1932 VF-EF EUR 30

See also lots 3, 39, 43, 58, 59. 37 BANK OF HINDUSTAN LTD
INDIA INDIA : MADRAS. Cert. of 5 Shares of Rs.100.
brown, green seal. No 1608. Heavy folds
32 INVESTORS' LAND CO., LTD
with small splits and repaired upper left
28 REPUBLIC OF CHINA INDIA : 1 Share of Rs.100. green, black.
corner. Vignette of the Indian peninsula, also
CHINA : NEW YORK. Secured Sinking Fund #5000. No 868. Underprint of an impressive
in underprint. According to some sources the
Bond of $1000. Cat. KUL 952. blue, black. No housing complex.
original 'Bank of Hindustan' was India's first
1924. Somewhat wrinkled paper. Vignette of 1917 VF-EF EUR 20
bank, est. in the late 1700s. The share we
pagoda. Issued for redemption of bonds of 33 GREAT INDIA FIRE INSURANCE CO., LTD
offer is from a bank with the same name but
the 3 Year Loan of 1919 - better late than INDIA : BOMBAY. Share of Rs.20. blue. No
probably founded much later. Headquarters
never! One of the prettiest of all Chinese 982. Central fold with long tear, repaired.
in Madras. It went into liquidation in 1957.
bonds. Also known as the Pacific Vignette shows India in a heart and a rising
8 April 1936 F-VF EUR 60
Development Loan. sun.
38 SAVANA SOC. INDUSTRIELLE,
1 July 1937 VF EUR 600 13 August 1919 F-VF EUR 20
COMMERCIALE ET FINANCIERE S.A.
29 CHINA ELECTRICAL INDUSTRIES CO., LTD. 34 NEW KUSUNDA COLLIERY LD.
INDIA : 33 GIRONDE. BORDEAUX. Action de
CHINA : MIN KUO. 500 Shares, 5.000 Yuan. INDIA : CALCUTTA. Ordinary Shares of Rs.10.
F2500, unissued. brown. #81300. Attractive
red, black. Text entirely in Chinese. With red blue. No 539. Probably mined for coal in
piece, with well-known design of Indian
embossed seal. western Nepal, where the Kusunda people
themes - elephants, Hindu gods and
1944 EF EUR 40 live. They were a tribe of hunter-gatherers
ceremonies. The company operated a
living in the forests of western Nepal. Over
spinning & weaving mill (probably for
the past decades they have intermarried and
cotton) at Pondicherry. This town, on India's
their culture and (isolate) language is
south-east coast, formed part of the
moribund, with, according to a 2005
Etablissements Français de l'Inde, the
scientific publication only 7 native speakers
remains of the former French empire in
remaining.
India, which became part of India in 1954.
1 September 1920 EF EUR 20
The company was founded in Bordeaux in
1886 to acquire an existing mill at
Pondicherry.
23 May 1952 EF EUR 20
See also lots 43, 102, 622.
INDOCHINA
39 C.D.F. DE L'INDO-CHINE & DU YUNNAN
30 CHINESE AMERICAN CORPORATION LTD. S.A., CIE. FRANCAISE DES
CHINA : Shares. purple, green, black, red. INDOCHINE : PARIS. 3% Obligation de F500.
Folds. Colourful piece, with text, other than green. #178000. No 132851. A few pin-holes.
name, in Chinese. Much larger than most The company was formed in 1901 to build a
Chinese shares. The company capital line from Laokai, French Indochina, to
35 TATA POWER CO. LTD
amounted to $20.000. Yunnan-Sen, in southwest China, and to
INDIA : BOMBAY. 1 Ordinary Share of
1947 VF EUR 200 exploit the existing line from the port of
Rs.1000. brown, olive. No 8205. Four punch-
31 C.D.F. EN CHINE, CIE. GENERALE DE Haiphong, via Hanoi, to Laokai, with the new
holes and a little staining. Vignette of an
CHINA : BRUXELLES. Action de F250, extension. The line was completed in 1910.
allegorical figure symbolizing 'electricity'.
unissued. red, black. #12000. Founded 1900 Attractive and ornate border of Chinese
Founded 1911 as Tata Hydroelectric Power
and absorbed by the Société belge dragons.
Supply Co. Today it is India's largest private
d'Entreprises en Chine around 1979. The 5 November 1901 VF EUR 200

6
1912 EF EUR 300 1885), the French garrison of 630 men
successfully defended their post against a
Chinese force of 12,000 soldiers during a
four-month siege.
1928 EF EUR 20

43 CHARGEURS D'EXTREME-ORIENT S.A.


INDOCHINE : PARIS. Part de Fondateur.
49 INDUSTRIE DE LA SOIE, SOC. FRANCO-
brown, yellow. No 3949. Formed 1917 as a
ANNAMITE POUR L'
shipping/transport company. Sailed between
INDOCHINE : NAM-DINH. Action de 10
Yokohama, Bombay, Calcutta, Alexandria,
Piastres. red, brown, black. #40000. No 222.
Marseille, Lyon and 5 Chinese cities. Took
A few pin-holes. A silk producer from Nam
part in the establishment of the Syndicat
Dinh, northern Vietnam.
minier d'Extrême-Orient and the Compagnie
1936 VF EUR 50
minière et métallurgique de l'Indochine.
50 UNION MINIERE INDOCHINOISE S.A.
40 GOUVERNEMENT GENERAL DE L'INDO- 1 April 1918 EF EUR 10
INDOCHINE : PARIS. Cert. Nom. d'Actions de
CHINE, REPUBLIQUE FRANCAISE
F100. green, black. No 82. Formed 1928.
INDOCHINE : PARIS. 3% Obligation de F500.
First time we offer this nominative type.
Serie 2. brown, green. #155000. No 26212.
2 November 1945 VF EUR 30
Some staining at right border. Fine and
elaborate border design of scenes of
Indochina - peasant life, villages, river, trains,
dragons, etc. This loan was raised to build
the following railways: Haiphong to Hanoi &
Laokay, Hanoi to Nam-Dinh & Vinh, Tourane
to Hue and Quang-Tri, Saigon to Khanh-Hoa
& Lang-Bian, and Mytho to Cantho.
5 August 1902 VF EUR 100 44 CAOUTCHOUCS DE L'INDO-CHINE S.A.
INDOCHINE : PARIS. Action de F100. brown,
yellow. #80000. No 29517. Formed in 1922
to acquire the rubber estate of Loc-Ninh, in
Cochin-Chine, southern Indochina; the estate 51 BANQUE DE L'INDOCHINE S.A. (5 types)
covered 2.800Ha. Colourful piece, with a fine INDOCHINE : PARIS. 1. Bon nominatif, 1941.
vignette of rubber-tapping, and a most 2. Cert. d'Actions Nominatives, 1949. 3. Cert.
decorative border, including rubber leaves de Bons de droit A Répartition, 1956. 4. Bon
and flowers. de Droit A Répartition, 1965. 5. Cert.
1921 VF EUR 100 Représentatif de 17 Bons de Droit A
45 PLANTATIONS D'AGAVES DE L'ANNAM Répartition, 1970. The most important/
INDOCHINE : COCHINCHINE. SAIGON. Part de scarce piece is certainly the nominative
Fondateur. yellow, blue, red. No 7. Unusual share certificate. The bank was founded in
border with leaves and yin-Yang symbol. 1875 as a note-issuing bank for French
31 December 1924 VF EUR 20 Indochina and other French territories in
41 BANQUE DE COCHINCHINE S.A. 46 PLANTATIONS MARIANI, S.A. DES Asia. It lost this role in the 1950s, and now
INDOCHINE : PARIS. Action Nominative de INDOCHINE : SAIGON. Action de 50 Piastres. after several mergers it is part of Crédit
F250. red, black, gold. #20000. No 12703. blue, green. #10000. No 4096. Central fold. Agricole/Calyon.
Perhaps one of the best-known pieces in Company formed Saigon, 1927 with a capital 1941-1970 VF-EF EUR 500
scripophily, with its bright colour, and fine of 500.000 piastres. 52 CAMBODGE, CIE. DU - SOC. INDO-
design of scenes in Cochin-Chine, the 23 December 1927 VF EUR 30 CHINOISE DE CULTURES
southern part of Vietnam, which includes 47 PLANTATIONS D'HEVEAS DE LA INDOCHINE : KAMPONG-CHAM. CHUP. 1
Saigon and the Mekong delta. In one corner SOUCHERE S.A. Action de 150 Piastres Indochinoises. yellow,
we see a fine dragon, and each corner has INDOCHINE : SAIGON. Part de Fondateur. green. #505000. No 57304. Attractive border
the yin-yang symbol. Text in French and brown, buff. No 14861. Underprint of a cock. of Cambodian masks, and of rubber-trees,
Chinese. The bank was formed in 1907, 20 January 1927 EF EUR 10 showing the work of the company. Formed
primarily for banking in the whole of 48 CHARB. DE TUYEN-QUANG S.A. in Saigon.
Indochina. INDOCHINE : HANOI (TONKIN). Part Undated EF EUR 20
1908 EF EUR 200 Bénéficiaire. brown, red. No 1589. This coal 53 DISTILLERIES DE L'INDOCHINE, SOC. FR.
42 TOT-LAM S.A. mining company was probably active INDOCHINE : PARIS. Action de F200. red,
INDOCHINE : PARIS. Part de Fondateur. between 1924 and 1956. Tuyen Quang, yellow. No 470. This is a modern share, but
green, brown. No 363. The company owned northern Vietnam, is probably best known the company was founded as early as 1901.
tea-plantations. Very decorative piece with for the Siege of Tuyen Quang - one of the During the French colonization, the
oriental themes, and a Vietnamese drinking French Legion's most celebrated feats of imperialist government had a monopoly on
a cup of the company's tea. The company arms. During the Sino-French War (1884- alcohol production and the only distilled
seal shows a rickshaw.

7
alcohol beverage the general population the shareholders (1951-1952). Not seen conglomerate - today one of 15 of Japan's
could purchase was "ruoucong ty" - a diluted before by us. most powerful business groupings. Founded
distilled alcoholic beverage made from rice 10 February 1947 VF EUR 100 1928 by Yoshisuke Aikawa. Although Nissan
and corn by this company. is primarily known for its car manufacturing
1981 EF EUR 30 outside of Japan, Nissan Motors is
comparatively small compared to its core
real estate and other businesses.
1955 VF EUR 30
MALAYSIA

IRAQ

54 COLLECTION OF 21 DIFFERENT
INDOCHINA PIECES
INDOCHINE : Most shares are from the
1920s, but also for instance an 1884 bond of
the the C.D.F. garantis des Colonies
Françaises. Other pieces include Grands
Hotels Indochinois, Co. des Voies Ferrées de 61 MALAY PENINSULA EXPLORATION
57 IRAQ GOVERNMENT - LOAN OF 1947 SYNDICATE, LTD
Loc Ninh et du Centre Indochinois, Tramways
IRAQ : 4% Bond for 100 Dinars, specimen. MALAYSIA : Debenture of £100. black.
du Tonkin, Mines de Thakhek, Phosphates du
green, orange. Britain granted independence #34000. No 91. Folds. Est. 1889 in London to
Tonkin,... (full list on request).
to the Kingdom of Iraq in 1932 and the build a canal between the East and West
Various dates VF-EF EUR 200
Hashemite monarchy led the country. After a Coasts in the Malay Peninsula (containing
IRAN (PERSIA) coup d'etat in 1958, the country became a the southernmost tip of Myanmar,
republic. Text in Arabic script on the front Peninsular Malaysia, and Southern Thailand).
and English on the back. Coat-of-arms of the 20 March 1890 VF-EF EUR 50
Kingdom. Printed by Bradbury, Wilkinson.
1947 UNC EUR 120
JAPAN

62 ETAINS DE SELANGOR, SOC. DES


MALAYSIA : MALLACCA. PARIS. Action de
F100. blue. No 2786. Rare and beautiful
58 MANCHUKUO TELEGRAPH AND piece. Fine border of Malays and Europeans,
TELEPHONE CO. elephant, tiger, mining, ingots. Most
JAPAN : Bearer Cert. for 10 shares of 500 companies mining Malaya's tin were British -
Yuan. green, black. Illustration of the large this French company was most uncommon.
company headquarters (today the 1 March 1904 EF EUR 100
Changchun Police Headquarters). The 63 PLANTATIONS BUNGE S.A.
Manchuria telegraph and Telephone Co. was MALAYSIA : ANVERS. Part Sociale, specimen.
founded 1932 under Japanese occupation. green, black. Owned rubber, coffee and tea
55 IMPERIAL GOVERNMENT OF PERSIA Between 1932 and 1936, they created 26 plantations.
IRAN (PERSIA) : 5% Bond of £20, specimen. 'special companies' with the Manchukuo 1928 EF EUR 20
blue, black. #12500. Arms of Imperial Persia, Government and the South Manchurian
Railway each time contributing one-third of
ALGERIA
and decorative border. Loan for £1,250,000.
First time we offer a bond of this loan. A the capital.
scarce Bradbury, Wilkinson specimen. 1938 EF EUR 100
1 December 1911 EF EUR 400 59 MANCHURIAN ELECTRIC POWER CO.
56 FRANCO-IRANIENNE DE RECHERCHES JAPAN : Cert. for 50 Shares of 50 Yen. red,
IRAN (PERSIA) : PARIS. Cert. d'Actions "A" yellow, black. No 6606. Another important
nominatives de F125. brown. No 262. company founded by the Japanese in
Founded 1930 by French, Soviet and Iranian Manchuria.
capital (each 1/3) to explore oil deposits in 1941 EF EUR 20
the provinces of Semnan and Mazandéran, 60 NISSAN TITANIUM INDUSTRIES, LTD
Iran. When in 1951 Mohammad Mosaddegh JAPAN : Cert. for 500 Shares of Y50 (Y25.000,
nationalized Iran's petroleum industry and fully paid). gold, olive, black, red. No 342.
oil reserves, the company got into serious Text in Japanese, but the company name is
difficulties. The lot includes several letters to also in English. Part of the Nissan

8
64 CAISSE HYPOTHECAIRE D'ALGER except for the fact it did mining exploration 75 COMUELE, SOC. COMMERCIALE ET
ALGERIA : 13 BOUCHES-DU-RHONE. in the Lufira beds (eat of the Lualaba River). MINIERE DE L'UELE
MARSEILLE. Action de F4000. black, blue. Extremely rare piece. BELGIAN CONGO : BRUXELLES/AKETI. Cert.
#750. No 311. Three repaired tears, folds. 1911 VF EUR 300 d'Inscription Nominative de parts sociales.
Thin paper. Early date for a French Algeria 70 CONGO S.A., CIE. GENERALE DU green, red, buff, black. No 47. Founded 1919
piece. Liquidated in the 1860s. BELGIAN CONGO : BRUXELLES. Part Sociale. by Cominière and Lever. They had several
26 November 1847 VF EUR 200 blue, buff, black. #168000. No 135070. businesses at Uélé, including oil fruits,
65 MINIERE FRANCO-AFRICAINE S.A. Somewhat tired condition but no major cotton, coffee, rice, wood and rubber
ALGERIA : PARIS. Part de Fondateur. blue, defaults. Linked to the Banque de Bruxelles plantations. In 1929, Cominière regrouped
green. No 2194. Company formed to develop and co-founder of the Brasserie de its industrial activities in Comuélé, as well as
iron and zinc mines in Algeria, Tunisia and Léopoldville. Later renamed Crégéco. Three a fleet of ships between Uélé and
France. Fine design by Daubourg, showing photo-vignettes of houses and tropical Léopoldville. In 1930 the company president
mining- and shipping-scenes, in very landscape in Congo. was Josse Allard (of Banque Allard fame –
decorative border. 24 July 1922 VF EUR 20 see lot 121). A profitable company, also after
10 May 1904 VF-EF EUR 30 71 C.D.F. DU KATANGA SOC. CONGOLAISE WWII. The share is issued to Oliver Allard,
66 MINES DE FER DE ROUINA S.A. BELGIAN CONGO : KATANGA. ELISABETH- member of the board. Colourful vignette of
ALGERIA : BRUXELLES. Action de F250. green. VILLE. Action de Jouissance. green, yellow, two African ladies and a plant. This
#60000. No 56790. Large format, with fine, black. No 28616. Central fold. Company nominative type is new to us.
large design of miners extracting the ore, formed to build a line from the southern 13 June 1953 VF EUR 300
and loading a train. Also palm-trees, mining- border of Katanga province (by Northern
tools and much more. The mines were at Rhodesia) to the Upper Lualaba (Congo)
Miliana, near Algiers. Great detail on the river. The main shareholder was the Congo
reverse of the share. government. Merged with the Soc. de C.D.F.
1920 EF EUR 30 Léopoldville-Katanga-Dilolo to form the Co.
de C.D.F. Katanga-Dilolo-Léopoldville (KDL) -
1952.
1930 VF EUR 30
72 ALIMENTATION DU BAS-CONGO S.A.,
CIE. COMMERCIALE ET AGRICOLE
BELGIAN CONGO : BRUXELLES. Action de
F500. red, yellow, blue. #36000. No 28027.
Cancellation hole above the title. Inc. 1910
by the Co. pour le Commerce et l'Industrie
(CCCI) to exploit hotels, open trading-posts,
breed cattle and general export/import
business.
67 CONSTANTINE OILFIELDS, LTD 1927 EF EUR 10
ALGERIA : LONDON. Ordinary Shares of 2 73 KABIRA SOC. CONGOLAISE, LA
Shillings. brown. No 1269. Folds. Originally BELGIAN CONGO : ELISABETHVILLE. Action
founded 1912 to exploit oil fields near the de Capital de F500. yellow, brown. #6000.
city of Constantine, Algeria. Restructured in No 1668. The company owned 475 Ha of
1923 and liquidated 1931. plantations on the Kabira River, in Katanga
28 January 1926 VF EUR 50 province. Vignette of cutting sisal plants and
BELGIAN CONGO underprint of the sisal-works.
68 AFRICA S.A. 1929 EF EUR 40
BELGIAN CONGO : ANVERS. Action de Capital
de F100. purple, buff. #5000. No 2763.
Underprint of the Congo-star. Founded 1899
to trade with the colony.
1899 EF EUR 20

76 BELGIKAMINES, SOC. MINIERE DE LA


BELGIKA
BELGIAN CONGO : STANLEYVILLE/
BRUXELLES. Part Sociale. blue, black.
#131200. No 59798. Drawn vignette at the
69 RECHERCHES MINIERES LUFIRA- 74 KIVU, COMPAGNIE DU bottom. The company history goes back to
KATANGA S.A., SOC. DE BELGIAN CONGO : ANVERS. Part Sociale. the 1897 founded Belgika mining company,
BELGIAN CONGO : KATANGA. BRUXELLES. 5 brown. No 11164. The company worked an later renamed Belgikaor and than
Actions de dividende. brown, black, buff. No agricultural property in the eastern Congo Belgikamines. Became part of the Co.
18471-75. Folds with tiny edge-tears. Large province of Kivu, the most scenic part of the Lambert pour l'Industrie et la Finance in
format with beautiful vignette of the country. It probably produced coffee and 1967. First time we see this type.
company's factories in the Congo. Little is cattle. This type is new to us. 1957 EF EUR 300
known of this 1911 founded company, 1932 VF EUR 50 See also lot 590.

9
EGYPT EGYPT : PARIS. 1/5 Part. black, orange. No 80 C.D.F. KENEH-ASSOUAN, S.A. DU
30474. Folds and a few small edge-splits at EGYPT : LE CAIRE. 3,5% Obligation de £20.
the top - not in the printed part of the share. green, black. #18250. No 11970. Folds. A
This piece was issued by the company very fine pharaonic-style bond, issued 1925.
formed to acquire the 15% share in the The company was formed in Cairo in 1895,
profits of the canal company, ceded by the to extend the Egyptian railway to the south
Egyptian Government to a French bank in from Qena to Aswan (then Keneh to
1880. Fine Egyptian design by Gustave Assouan), via Luxor, on behalf of the
Fraipont, engraved by Renard, of temple Egyptian Railways Administration. Most
columns, sphinxes, etc., and shipping. shares were sold in Germany, and a German
Underprint of the head of a pharaoh. The company built the line, which was
company was formed by Ferdinand de completed and opened in 1898. This much-
Lesseps, in 1856. The company had a improved access to Aswan allowed the
77 DISTRIBUTION DES EAUX DE SUEZ, S.A. privilege for 99 years, after which the Canal building of the first Aswan Dam. The
EGYPTIENNE POUR LA was to revert to Egyptian control. Egypt held splendid border shows two temples on the
EGYPT : PARIS/CAIRE. 1 Action de F500. 44% of the shares, but these were bought by route (one the distinctive temple of Kom
olive, black. #2400. No 1545. In 1854 the the British government in 1875. In 1956 the Ombo), with sphinxes, seated pharaohs,
Khedive of Egypt signed the firman, or Canal was nationalised by the Egyptian lotus, papyrus, palms and much else. First
decree, authorising the building of the Canal, government. All the Suez pieces are rare time seen by us.
and the Suez Company was formed in 1856. and wanted, and this one is no exception - a 25 August 1925 VF EUR 200
Construction started in 1859. As the work great classic. Not to be confused with the
developed, the various construction sites, similar looking (and less scarce) share from
employing large numbers of people (around 1930.
1.500.000), needed various services, 15 May 1882 VF EUR 500
including the provision of fresh water. The
Sweetwater Canal, bringing water from the
Nile at Zagazig to the Canal area was built in
1863 by the Egyptian Government. This, and
underground water sources discovered along
the Canal route, were distributed by pipe
and camel-drawn tanker along the Canal
construction route.
Under the terms of the firman the Egyptian 81 METALLURGIE EGYPTIENNE, SOC. DE
Government was to supply 70.000 cubic EGYPT : LE CAIRE. 5 Actions de L.E.5,
metres of water per day to meet the needs specimen. brown, buff. Folds. Large format.
of the people settled on the Canal line, Text in French and Arabic. Border includes a
maintenance of machinery, watering of 79 CANAL MARITIME DE SUEZ, CIE. pharaonic eagle and a scarab beetle. A rare
gardens and plantations, and supply to ships UNIVERSELLE DU unissued specimen.
passing through the Canal. This company EGYPT : PARIS. Action de F250. green. No 31 December 1949 EF EUR 50
was formed under Egyptian law in Cairo in 82714. Very fine Egyptian design of temple See also lot 555.
1866 to take over this responsibility. The columns, sphinxes, pyramids and sphinxes, FRENCH GUINEA
Suez Canal Company must surely have had with a line of shipping sailing down the 82 CULTURES & BANANERAIES DU KIN-SAN
some participation in the company, but we canal. For story, see previous lot. In excellent FRENCH GUINEA : LIN-SAN. Part de
have seen no evidence of that. We do know condition. Few of these 1924 shares have Fondateur. brown, buff. #30000. No 8433.
that de Lesseps himself was interested in it ever been found. Decorative piece with banana trees and
(as he was bound to be), but whether 1924 EF EUR 750 underprint of Africa.
financially or not, we do not know. Surely 10 March 1927 EF EUR 20
one of the oldest Egyptian shares we have MADAGASCAR
ever seen. First time in our auctions. The lot
also includes a couple of letters relating to
the company, in one of which F. de Lesseps
is mentioned.
1 January 1869 EF EUR 400

78 CANAL MARITIME DE SUEZ, CIE.


UNIVERSELLE DU

10
83 FRANCO-ANTANKARE, SOC. red, yellow. #24000. No 38854. Beautiful vignette of South African scenes, with an ox-
MADAGASCAR : 49 MAINE ET LOIRE. colonial share with a border showing us the cart, ostriches, and much more, also arms of
ANGERS. Action Nominative de F500. green, local tropical landscape and a large the Transvaal. Large format with text in
black. #800. No 41. Company for trading in underprint of the Island. The hydro electric English and French. The company owned
Madagascar. Attractive share of long format, power station was planned at the river 1805 claims on the Benoni, Kleinfontein &
with vignettes of coastal trading ship, cow's Langevin. It became only operational from Rietfontein farms, west of the
head, bananas and other crops. Extremely 1961 onwards. Modderfontein, Geduld and East Rand
rare. 1930 EF EUR 50 mines.
14 December 1898 VF EUR 200 SOMALIA 15 December 1905 F-VF EUR 50
MALI 87 GOUVERNEMENT DE LA COTE
FRANCAISE DES SOMALIS
SOMALIA : PARIS. 5,5% Obligation de F1000.
green. #5517. No 1689. One of the rarer of
the French colonial obligations. Palm-leaves.
Today the Republic of Djibouti.
1 February 1936 VF EUR 40
SOUTH AFRICA

84 HAUT-NIGER S.A., CIE. FRANCAISE DU


MALI : PARIS. Action de F500. blue, yellow.
#800. No 229. Magnificent design with two
lions in a border of African themes. The
company's operations were in French
Soudan, now Mali; we believe its main
products were palm-oil and rubber. Rare &
attractive share.
27 November 1899 VF-EF EUR 150
MOROCCO

91 PHINLEW DIAMOND SYNDICATE, LTD


88 CAPE OF GOOD HOPE GOVERNMENT
SOUTH AFRICA : JOHANNESBURG. Shares of
SOUTH AFRICA : CAPE OF GOOD HOPE.
£1. brown. No 550. Folds with two small and
Transfer Cert. of a 4% Bond of £589.14.5.
repaired edge-tears. Printed in
black. Folds. The loan was administered by
Johannesburg. This diamond company had
Baring Brothers in London. We see very little
not been seen before by us.
government paper from South Africa, and
12 February 1907 VF EUR 50
this is the oldest one we have ever offered.
92 REX GOLD MINES LTD.
1882 VF EUR 50
SOUTH AFRICA : LYDENBURG. LONDON.
Shares of £1. brown, black. No 837. Est. 1909
to acquire 239 claims, situated in the
Pilgrim's Rest sub-district, Lydenburg, South
85 CONSERVES DE FEDHALA SARDINERIE P. Africa.
DE CASCADEC (2 types) 25 May 1911 EF EUR 20
MOROCCO : FEDHALA. 1. Action de F1000, 93 CAPE COPPER CO., LTD.
1940, red & yellow. 2. Same, 1942, brown & SOUTH AFRICA : LONDON. 25 Ordinary
yellow. Morocco is the largest canned Shares of £2. purple, green, black. No 3871.
sardine exporter in the world. Decorative Formed 1888 to acquire copper mines in
border. First time we see scripophily from Namaqualand, Cape Colony. In 1890 it also
this company. acquired the Tilt Cove copper mines, in
89 JOHANNESBURG CITY AND SUBURBAN
1940+1942 VF EUR 50 Newfoundland, Canada. Liquidated around
TRAMWAY CO. LTD.
1930. Text in English and French. Vignette of
ILE DE LA REUNION SOUTH AFRICA : LONDON. 5 Shares of £1,
a miner.
specimen. blue, red, black. Never seen
25 March 1914 EF EUR 30
issued. Formed in the South African Republic
94 GENERAL MINING & FINANCE
to build and operate the horse-trams of the
CORPORATION LTD (2 types)
city. Fine views of a city street with trams,
SOUTH AFRICA : 1. 1 Share of £1, 1904, red &
and a tram (showing the route through the
black, cut to right border, pin-holes. 2. 5
city). Large format.
Shares of £1, 1929, blue & black, pin-holes
189. EF EUR 140
and central fold with tear at right border.
90 NEW KLEINFONTEIN CO. LTD.
Text in English and French. Vignette two
SOUTH AFRICA : TRANSVAAL. JOHANNES-
women with Hermes and several products at
BURG/LONDON. Warrant for 25 Shares of
the top, woman with little angel at the
£1. blue, black. No 8730. Many folds, pin-
86 HYDRO-ELECTRIQUE DE LA REUNION S.A. bottom. Rare Waterlow prints.
holes and several small edge-tears. Large
ILE DE LA REUNION : PARIS. Action de F250. 1904+1929 F-VF EUR 200

11
date-palms, which are supplied with water The loan was to finance additional
by 20 springs. investment by the province in the Lower
1 November 1956 EF EUR 30 Austrian Hydro-Electric Power Co.
See also lot 65. Uncancelled.
AUSTRIA 1 December 1925 VF-EF EUR 70

98 SASCHA FILMINDUSTRIE AG
AUSTRIA : WIEN. 100 Aktien jede über 200
Kr., Muster. brown, black. No 335601.
SYRIA Founded by the Austrian film pioneer
Alexander Kolowrat. At first the company
made nature documentaries, later also 101 AUSTRIAN GOVERNMENT INTERNATIO-
classic movies. Worked together with the NAL LOAN 1930 (2 types)
Berlin movie-maker Oskar Messter. AUSTRIA : LONDON. 1. 7% Bond for £100,
Renamed in 1933 as the Tobis-Sascha green & black. 2. Same, £500, blue & black.
Filmindustrie AG and later on "Wien-Film". Printed by Waterlow in London.
High denomination and as such extremely Uncancelled, with coupons.
rare. 1 July 1930 EF EUR 180
28 June 1922 VF EUR 100 See also K&K Monarchy.
BELGIUM
95 FONCIERE DE SYRIE S.A., SOCIETE
SYRIA : PARIS. Action de F3000. green, black.
#69000. No 55056. Fine design by Leclerc, in
a lovely flowery and Islamic border. Views of
Syrian cities, with many beautiful mosques
and minarets; we see Damascus with the
famous Umayyad mosque, Aleppo with its
citadel, Lattaquia on the Mediterranean,
Hama and Homs - all the main commercial
centers of the country. Syria was a part of
the Ottoman Empire until the end of World 99 GLEISDORF-WEIZ, LOCALBAHN
102 KEYSERLIJCKE INDISCHE CO. (2 pieces)
War I, when the League of Nations gave AUSTRIA : GRAZ. Stamm-Aktie von 170
BELGIUM : ANTWERPEN. black. 1. Dividend
France a mandate over it. Not to be Schilling. Serie II. green, black. No 871. One
receipt of 3600 Guldenson 12 shares, 1729.
confused with the earlier (1925) similar small split at the bottom, repaired. The 15
2. Dividend receipt of 2400 Gulden on 24
looking share of larger format. Although km line opened in 1889. Today operated by
shares, 1730. Both of small format with coat
undated, we estimate this certificate to be the Steiermärkischen Landesbahnen.
of arms of this famous 'Belgian' East India
from the 1950s. The company capital at that 1 January 1925 VF EUR 100
Company. As the face value of a share was
time amounted to 207 million francs.
1000 Gulden, one can see that the
1950s EF EUR 200
accumulated dividend return from 1729 to
See also lot 556.
1730 was an impressive 40% (300+100
WEST AFRICA Gulden per share).
96 UNITED GOLD MINES OF WEST-AFRICA 1729+1730 VF-EF EUR 150
WEST AFRICA: LONDON. Shares of 5 Shillings.
black. No 314. Somewhat worn paper with
many folds. Led by Sir Walter Buller, a New
Zealand lawyer and famous naturalist
(ornithology). Founded as a merger of
several small mining operations on the
African West coast - likely today's Ghana
(Gold Coast). In 1906, the company was
reorganized as the Union Consolidated Trust
Ltd.
10 July 1903 VF EUR 20
TUNISIA
97 L'OASIS S.A. 100 PROVINCE OF LOWER AUSTRIA
TUNISIA : EL HAMMA DU DJERID. Action de AUSTRIA : WIEN. 7,5% Secured S.F. Gold
F2500. red, yellow. #10280. No 4853. The Bond of $1000. orange, black. No 493.
oasis of El Hamma du Djerid has an area of Typical dollar bond, with vignette of a
some 700 hectares and contains 110,000 beautiful woman, by a hydro-electric plant.

12
103 HORTICULTURE ET DE BOTANIQUE DE and Antwerp cargo ships. Also played a role
GAND, S.A. D' in the industrialization of the small Ghent
BELGIUM : OOST-VLAANDEREN. GAND. textile firms. Liquidated 1846. One of the
Action de F100. black, buff. #1800. No 1009. first Belgian banks. Not seen before by us.
Folds and slightly damaged borders, outside 1 July 1840 VF EUR 200
the printed part of the share. Attractive
classical border with flowery design. This
share was issued a few months before the
Belgian Revolution and Independence. The
Ghent garden 'industry', in particular
flowers, was very well known, not only in
Belgium but also internationally. The
company was formed in 1808 to regroup the
local botanists and to hold regular botanic
exhibitions: the 'Gentse Floraliën'. The
company still exists today. They still organize
the Floraliën and these are by far the biggest 108 COUSIN PRUDHOMME & FRERES POUR
flower exhibitions in Belgium, each time 106 GRANDE-MONTAGE, S.A. DE LA LA FABRICATION DU SUCRE DE BETTERAVES
attracting hundreds of thousands of visitors. BELGIUM : LIEGE. PARIS/LIEGE. Action de ET DU NOIR ANIMAL, SOC.
First time in our auctions. F1000. black, pink. #3000. No BELGIUM : HAINAUT. VILLERS ST. AMAND.
1 April 1835 VF EUR 500 982.Exploitation des mines de zinc, de Action de F1000. black. #300. No 261. Small
plomb, de fer et de houille. Some faint format. The oldest Belgian sugar share we
staining at the top. In Flône, today a part of have ever seen. The sugar beet producer was
Amay (province of Liège), monks from the located in Villers St Amand, a small village in
local Abbey mined for coal and iron from the Hainaut, today part of the city of Ath.
13th century up until the French Revolution Dividend stamps on the back until 1869.
which caused the Abbey to close. In 1844, Extremely rare.
Louis Bronne found Belgian and French 1 June 1854 VF EUR 100
capital to found this company. With little
success though: the company is dissolved in
1850. Two years later, the mining
concessions and buildings are bought by the
Soc. de la Vieille Montagne. This company
stayed active in Flône until 1979. Extremely
rare.
20 May 1846 VF-EF EUR 100

104 TRAVAUX DE PAVEMENT DU CHEMIN


CONDUISANT DU HAMEAU DE MEULESTEDE
A CELUI DE LANGERBRUGGE
BELGIUM : OOST-VLAANDEREN. GAND.
Obligation de F1000. black. #25. Long format 109 ASSOCIATION DES ACTIONNAIRES DU
with folds and tears. The company was to CERCLE ARTISTIQUE, LITTERAIRE ET
build a paved road from Meulestede to SCIENTIFIQUE, SOC. CIVILE
Langerbrugge (2037m). BELGIUM : ANVERS. Action de F100. black.
13 April 1838 F EUR 100 #3000. No 808. Many splits, all repaired with
tape on the back. Est. 1852 as an association
of cultivated men to promote arts, literature
and science. In 1877, they organized a major
congress celebrating the 300st birthday of
Antwerp painter Pieter-Paul Rubens. Only
107 WILLEMS-GENOOTSCHAP piece known to us, from an old collection.
BELGIUM : OOST-VLAANDEREN. GENT. Aktie 14 September 1854 F-VF EUR 200
van fr.2,50 (x5). black. No 451-55. Loan of 110 L'UNION LIMBOURGEOISE - J. OUWERX
2500 francs divided into 1000 bonds of 2,5 & CIE.
francs each. The certificate we offer BELGIUM : LIMBOURG. HASSELT. Action
105 BANQUE DE L'INDUSTRIE S.A.
represents 5 bonds on one long vertical Nominative de F100. olive, black. #600. No
BELGIUM : ANVERS. Action de F1000. Serie
piece of paper. They are all issued to Philipe 82. Bank authorised to operate only in
1. black. #5000. No 2041. Thin paper with
Blommaert, a writer and Flemish thinker. He Limburg; we see little Limburg material
folds and small splits. Founded 1838 with a
co-founded the Willemsfonds (Gent, 1851) before 1900. Folds with a long central split
capital of 10 million francs (5000 shares of
to promote the Flemish language and (repaired). Only 600 issued.
1000 francs) to promote the industry and
culture. Extremely rare. 1 June 1869 F-VF EUR 50
export by giving credit to both entrepreneurs
15 July 1854 VF EUR 100

13
112 UNION SUCRIERE ATHOISE S.A.
BELGIUM : HAINAUT. ATH. Action Primitive
de F5000. blue. #80. No 60. Only 80 issued.
'Pour la fabrication du Sucre de Betteraves et
du noir animal. Also to distill alcohol from
any 'fruits du sol'.
1 November 1873 EF EUR 70
113 HOUILLERE DES MINES DE FLORIFFOUX
BELGIUM : NAMUR. PARIS. Action de F500.
black, pink. #6000. No 5901. Floriffoux is on
the Sambre River, near Namur, and had an
important coal industry.
22 July 1875 VF-EF EUR 30

117 CHARB. DE LA GRANDE GALERIE A


AUVELAIS, S.A. DES
BELGIUM : NAMUR. AUVELAIS. 5%
Obligation de F500. green, black. #1000. No
45. One of the rarer Belgian coalmine
certificates.
1 July 1881 VF-EF EUR 90

114 AFFICHAGE DANS LES VOITURES DE


C.D.F., CIE CONTINENTALE D'
BELGIUM : BRUXELLES. Action Privilégiée
Nominative de F500. blue, buff. No 582. Thin
paper with two small splits, repaired with
old-style tape. The company sold publicity
space in railroad carriages. Extremely rare.
11 April 1877 VF-EF EUR 50

111 LA RUCHE, POUR LA FABRICATION DU


SUCRE DE BETTERAVES, S.A. 118 TRAMWAY BRUXELLES-EVERE ET
BELGIUM : OOST-VLAANDEREN. GAND. EXTENSIONS, S.A. DU
Action de F1000. yellow, grey. #1200. No BELGIUM : BRUXELLES. Action de F250. red.
280. Thin paper with several folds and left #2200. No 261. Fold. The company was
border shows coupon cutting. Vignette of a formed in 1883 to build a line between place
beehive (ruche in French). Decorative Madou, Brussels, and the new cemetery in
border. Formed 1870 to produce sugar from Evere. The line was immediately steam-
sugar beet. First time in our auctions. powered. Later absorbed by the Tramways
1870 VF EUR 100 Bruxellois. The share has a small vignette of
a tram coach.
15 June 1883 VF-EF EUR 150

115 PRODUITS CHIMIQUES DE NEDER-


OVER-HEEMBEECK, S.A. DE
BELGIUM : BRUXELLES. Action de F250. olive,
black. #4000. No 2. Folds. Founded 1879
with a capital of 1 million francs to take over
an existing manufacturer of chemical
products situated in Willebroek, along the
Canal de Bruxelles. First time we see
scripophily from this company.
29 December 1879 VF EUR 50
116 L'EUROPE S.A.
BELGIUM : BRUXELLES. Action Privilégiée de
F250. brown, buff. #1000. No 43. The
company published a newspaper - L'Europe.
15 July 1880 EF EUR 30

14
119 ROYAL CERCLE EQUESTRE DE Provisoire d'action de F100. black on blue
BRUXELLES S.A. paper. #3000. No 744. A Ghent shipping
BELGIUM : BRUXELLES. Action de F120. blue, yard. First time in our auctions.
buff. #250. No 209. Folds, one repaired 190. EF EUR 20
edge-tear and pin-holes. Logo of the Cercle - 126 MINIERE ANVERSOISE, SOC.
a horse on its back legs. Only 250 issued. BELGIUM : ANVERS. 6% Obligation de F500.
Issued to Gustave Lefebvre and transferred blue-green. #1200. No 706. Central fold and
on the back to Victor Allard (see lot 121). a little brown staining. Exploited a lead mine.
27 December 1883 VF EUR 70 This bond is new to us.
1 September 1900 VF EUR 30

122 EDISON'S KINETOSCOPE FRANCAIS S.A.


BELGIUM : BRUXELLES. Action Privilégiée de
F100. black, buff. #1500. No 920. Formed
1895 to acquire the rights (originally granted
by the Continental Commerce Co., of New
York) for France, its colonies & Monaco for
the Edison Kinetoscope. Edison invented the
kinetoscope in 1894, to allow the 127 CHARB. DU PETIT-TRY, S.A. DES
photographic reconstitution of movement, BELGIUM : HAINAUT. LAMBUSART. Cert.
and this share was issued only one year nominatif de 4 Actions. blue. #8000. No 27.
later. Folds. The concessions in this area date from
15 March 1895 EF EUR 50 1735 when the duke d'Arenberg and the
120 RIZERIE ST. JOSEPH S.A.
prince-bishop of Liège authorised mining. It
BELGIUM : ANVERS. Action de F500. brown,
was only in 1826 that a company was
green, black. #800. No 416. Folds. A rice
founded, and that société civile became this
peeler founded 1891 by Mr. J. Wégiment, an
S.A. in 1900. In 1929 it produced nearly
Antwerp merchant.
200.000 tons of coal, and employed over 900
15 October 1891 VF-EF EUR 100
workers.
24 April 1900 VF EUR 60
128 BRIQUETERIES DE LA SAMBRE A
123 DEJOND FILS ET CO. LOBBES, S.A. DES
BELGIUM : VERVIERS. Cert. d'Inscription de BELGIUM : HAINAUT. LOBBES. Action de
20 Actions (Nominative). green, buff, brown. Capital de F200. red, green. #5000. No 2140.
No 14. Small format. Pin holes. Company One small edge-tear (repaired). Decorative
founded 1897 with a capital of 260.000 piece with design of two brick chimneys and
francs divided into 520 shares. We don't decorative border. The brickworks was at
know in which field the company was active, Lobbes, beside the river Sambre and the
but most scripophily we see from Verviers is Chemin de Fer du Nord. Difficult to find.
textile related. First time in our auction. 1900 VF-EF EUR 40
28 June 1897 VF EUR 50 129 HUILERIES DE L'ESCAUT S.A.
BELGIUM : WEST-VLAANDEREN.
WAERMAERDE. Action de Jouissance. green,
red. #1300. No 138. Renamed N.V.
Scaldiswerken in 1934. Sold vegetable oils.
121 CONCERT NOBLE SOC. 1904 EF EUR 20
BELGIUM : BRUXELLES. Cert. d'Inscription. 130 JOINT BICONIQUE UNIVERSEL, S.A. DU
green, red, black. No 266-267. Folds and one BELGIUM : BRUXELLES. Action de F100. red,
repaired edge-tear. The Concert Noble was green. #1250. No 19. Folds. Manufactured
an association of the Belgian nobility. It was pipes and tubes.
founded in 1785 by the Archdukes Albert of 15 February 1904 VF-EF EUR 20
Saxen-Teschen and Maria-Christina of 131 ISOTHERMIE, S.A. L'
Austria. King Leopold II organised the 124 HIPPODROME DE GROENENDAEL - SOC.
BELGIUM : HAINAUT. MONS. Action de F100.
construction of the current banqueting GENERALE D'ENCOURAGEMENT
brown, green. #1200. No 178. Decorative
rooms for the association in the Leopold BELGIUM : BRUXELLES. Certficat de
border. Made refrigerators.
District of Brussels. Today it is a prestigious liquidation. black. No 12. Folds with several
30 August 1905 EF EUR 20
meeting venue that can be rented. The repaired tears, a little staining and a few pin
132 CHARB. DE LA BASSE RANSY, S.A. DES
subscription certificate is in the name of holes. The hippodrome was built in 1887 in
BELGIUM : LIEGE. TILLEUR. Action de F500.
Victor Allard (1840-1912). He was an the forest of Soignes under the auspices of
blue, yellow, black. #2400. No 2328. Worked
important banker, running the family bank King Leopold II. The horse-racetrack
a concession of 173Ha in the communes of
Allard & Cie, director at the National Bank remained in use until 2001.
Angleur, Chénée and Vaux-sous-
and catholic Senator between 1888 and 4 March 1899 F-VF EUR 60
Chèvremont.
1912. 125 CHANTIERS MARITIMES DE GAND S.A.
30 September 1906 VF-EF EUR 20
8 June 1892 VF EUR 50 BELGIUM : OOST-VLAANDEREN. GAND. Cert.

15
known as RESC. BELGIUM : WEST-VLAANDEREN. OSTENDE.
1 March 1909 VF EUR 100 Action de Capital de F500. blue, green.
#2000. No 1093. Damaged borders with
upper left corner missing and small tears.
First time we see scripophily from this
Ostend fishing and towing company.
Founded 1908.
1919 F-VF EUR 50
138 AMERICAN PETROLEUM CO. S.A. BELGE
BELGIUM : ANVERS. Action Nominative de
F5000, specimen. blue. #2000. Company
formed 1919 to open a chain of petrol
stations in several Belgian cities for the
growing group of car owners.
29 December 1919 VF-EF EUR 30

133 BIBLIOTHEQUE CHOISIE S.A.


BELGIUM : LOUVAIN. 3% Obligation de F100.
black. No 28. Folds and minor edge-splits.
Unusual vignette of a farmer sorting out
seeds and the (Latin) Bible saying "Ventilabis
eos & ventus tollet" meaning "winnow them,
the wind shall carry". Perhaps this refers to
the Leuven University students and the
activities of the company: printing books.
Founded 1905 and probably active until the
early 1920s. Text also in Flemish
(Keurboekerij). Not seen before by us.
1908 VF EUR 60

139 ALGEMEENE BOUW- & HOUTHANDEL-


MAATSCHAPPIJ NV.
BELGIUM : OOST-VLAANDEREN. GENT.
Kapitaal-Aandeel van F1000. brown, blue.
#400. No 403. Probably unissued as
unsigned. Unusual artistic art-déco border
for this wood & construction company.
1920 EF EUR 50
140 LA LIME LIEGEOISE SOC. COOPERATIVE
136 VELODROME DE GAND S.A. BELGIUM : LIEGE. Part Bénéficiare. dark
BELGIUM : OOST-VLAANDEREN. GAND. green, buff. No 87. Only 280 issued. Small
Action de F50. blue, yellow, black. #600. No vignette of the famous column of Liège.
388. Jugendstil/Art Nouveau border, with 1920 EF EUR 20
multiple vignette of a cyclist. A magnificent
share in excellent condition and rare too.
134 EXPANSION NATIONALE (S.A.), SOC. 30 January 1911 EF EUR 400
BELGE D'
BELGIUM : BRUXELLES. Action Nominative de
F5000. green. #200. No 173. Large format,
with folds and a few small edge-tears. Issued
to Josse Allard (see lot 121). This company
was formed to promote Belgium, its
industry, but also its culture, around the
world.
1909 VF EUR 50
135 EXCELSIOR SPORT'S CLUB S.A.
BELGIUM : BRUXELLES. Cert. d'Inscription
Nom. 7 Actions de Cap. F100. blue. No 9.
Folds and small remains of paper stained on
the certificate at the bottom border.
Vignette of the clubhouse. Founded 1904 as
a Brussels-based sports club. It had a football
team until 1935. The field hockey section of 141 COOPERATIVE DES ACHETEURS, SOC.
the club was still alive as of 2005 but today it BELGIUM : BRUXELLES. Cert. Nominatif de
137 DELTA S.A. (PECHE ET REMORQUAGE)
is basically a leading Belgian athletics club Parts + Statuts. green, black. No 10. Unusual

16
share format: a small booklet including the de F500, 1925. Each certificate has two small concession for Oostham-Kwaadmechelen.
company rules. So we learn the chairman vignettes of the symbol of Brussels, However, the company didn't mine itself. It
was Adolphe Max, Brussels mayor. Other St.Michael killing a dragon. The cardboard allowed the mine of Beringen to exploit the
board members include politicians and manufacturer was active in Brussels, rue des concession in return for a lease fee of 1,5%
nobility. The purpose of the company was to Drapiers 45. of the net value of the annual production.
provide credit to people and companies who 1925-1927 VF EUR 100 1 August 1934 F-VF EUR 50
sell daily consumer goods. Issued to Adrien 153 SCALDISWERKEN, N.V. (3 types)
de Kerchove d'Ousselghem. BELGIUM : WEST-VLAANDEREN. RUIEN. 1. 1
7 February 1921 VF EUR 50 Genotsaandeel, red & black. 2. 1 Aandeel op
142 ARMEMENT OSTENDAIS S.A. naam van F1000, green & red. 3. 25
BELGIUM : OOST-VLAANDEREN. GAND. Aandelen op naam van F1000, red & black.
Action de Capital de F500. red. #4000. No Company founded 1901 as 'Huileries de
3760. Old-style tape on the right border to l'Escaut' - see lot 129. The three certificates
keep the coupon sheet attached. Folds. we offer here are all issued in 1941. We
Ostend shipping company. rarely see shares issued during WWII.
1921 VF EUR 10 1941 EF EUR 40
148 CYCLOPES, S.A. ATELIERS DE 154 HALLES DE BERCHEM (2 types)
CONSTRUCTIONS MECANIQUES BELGIUM : 1. Part de Fondateur, red. 2.
BELGIUM : ANVERS. Part de Fondateur, Action de F500, green. The Berchemsche
specimen. brown. #400. Not known issued. Hallen were founded in 1940 with a capital
1925 UNC EUR 20 of 50.000 francs. Only 100 founder shares
149 HUBINON S.A., ETS. and 100 actions de F500 were issued.
BELGIUM : BRUXELLES. Cert.d'Inscrip. Founded 1940 to build and operate a
Nomim. de Part de Fondateur. green. No covered market place in Berchem.
502. Folds with a few small edge-tears, +1944 EF EUR 40
repaired. Manufactured parts for cars and 155 S.A.C.A. COMMERCE AUTOMOBILE S.A,
aviation, in particular from rubber, so (2 types) + GENAC & LUBRICOIL S.A.
possibly tires. BELGIUM : ANVERS. S.A. POUR LE
26 November 1927 VF EUR 20 COMMERCE AUTOMOBILE S.A.C.A : 1. Part
150 SOIE ARTIFICIELLE D'OBOURG S.A., LES de Fondateur, green. 2. Action de F1000,
FABRIQUES DE red. 3. GENAC & LUBRICOIL, Action de F500,
BELGIUM : HAINAUT. OBOURG LEZ-MONS. green. Both companies served the auto
Action de F250. red, black, buff. #200000. No industry.
81715. Folds. Vignette of a lion carrying a +1944 EF EUR 30
globe. Est. 1928 as a textile company. Later 156 N.M.V.B. GRIMBERGEN - LONDERZEEL
143 AUTOBUS LIEGEOIS S.A. renamed as Financière d'Obourg, a holding EN UITBREIDINGEN
BELGIUM : LIEGE. Action de Dividende. company closely linked to UCB, Solvay and BELGIUM : BRABANT. BRUXELLES. Aandeel
brown, yellow. #2216. No 1951. Formed the Albert Frère Empire. van F1000, Reeks 916A. blue. #5926. No
1922 to acquire the concession for a 1928 VF EUR 30 5876. A secondary railroad in Vlaams-
transport service Liège-Sprimont, for 151 TRANSATLANTIQUE ARGENTINE Brabant.
passengers and freight. AGENCE MARITIME S.A., CIE. 1946 EF EUR 20
14 June 1922 VF-EF EUR 50 BELGIUM : ANVERS. Action de Capital de 157 C.D.F. VIC. WAVRE - JODOIGNE, SOC.
144 LOCOMOTION AUTOMOBILE, SOC. F500, specimen. blue. #500. Folds. Company BELGIUM : BRUXELLES. Action de F1000,
ANVERSOIDE DE - S.A.L.A. founded 1930 to organize a shipping line Série 926A. blue. #2980. No 2973. A
BELGIUM : BERCHEM-ANVERS. Part de between Belgium and Argentina. Only this secondary railway in Waals-Brabant.
Fondateur. green. #1000. No 355. one piece is known to us. 1946 EF EUR 20
Underprint of a wheel. The company sold 1930 EF EUR 20 158 C.D.F. BELGES, SOCIETE NAT. - N.M.B.S.
and maintained automobiles, bicycles, BELGIUM : BRUXELLES. 4,75% Obligation de
motorcycles and tractors. Not seen before by F1000. red, black. No 33670. Vignette of an
us. electrically powered train.
1924 EF EUR 30 1959 EF EUR 10
145 LA LAMPE ELECTRIQUE BELGE S.A.
BELGIUM : BRUXELLES. Cert. Nom. de 625
Actions Priv. de F500. brown. No 25. Folds.
Founded 1920 to make electric bulbs. First
time we see scripophily from this company.
Worked with the Dutch multinational Philips
and was probably absorbed by it around
1937.
21 November 1924 VF EUR 30
146 USINES ALLUMETTIERES DES FLANDRES
BELGIUM : BRUXELLES. Part de Fondateur.
green, yellow. #30000. No 15590. This 152 KEMPISCHE VENNOOTSCHAP TOT
founder share is hard to find. BEVORDERING VAN MIJNNIJVERHEID N.V.
1924 VF-EF EUR 30 BELGIUM : TESSENDERLOO. Cert.
147 CARTONNERIES SAINT-MICHEL (3 types) d'Inscription de Parts Sociales. brown. No 95.
BELGIUM : BRUXELLES. 1. Part de Fondateur, Large format with folds 3 repaired tears.
1925. 2. Action de Capital de F500, 1927. 3. Text in French and Flemish. The company,
Cert. l'inscription des actions nom. d'Actions founded in 1902, received a coalmine

17
159 BELG. MIJ. VOOR GAS- EN ELECTRICI- bond. Issued by the Belgian government printed (not necessary under Easdaq-rules).
TEITSBEDRIJF IN WEST-VLAANDEREN body responsible for telecom as part of a However, this is an ADR reflecting their
BELGIUM : BRUGES. Part Sociale, specimen. $12 million loan marketed by the Bank of Nasdaq quotation. Only the second time we
green. #103400. Lovely underprint with America. Not seen before by us. can offer an L&H share.
charcoal drawings of the belfry, cathedral 1 June 1958 F-VF EUR 50 5 December 2000 VF-EF EUR 100
and other famous buildings of Bruges. Text
in Flemish and French.
1951 EF EUR 100

160 BRUGSCHE ZEEVAART INRICHTINGEN


BELGIUM : WEST-VLAANDEREN. BRUGGE.
Genotsaandeel. blue, black. #9000. No 1288.
The company exploiting the port of
Zeebrugge. Cancelled.
1956 EF EUR 80
167 COCKERILL S.A. (4 types)
BELGIUM : LIEGE. SERAING. 1. Obligation de
1000 Dutch Florins, 1937. 2. Action,
unissued, 1945. 3. Titre de 5 Parts Sociales,
unissued, 1970. 4. Titre de 10 Parts Sociales,
unissued, 1970. Four different certificates
from Belgium's main steel manufacturer
with a history going back to 1817. Today
known as ArcelorMittal Liege.
1937-1970 EF-UNC EUR 100
164 CHAUDFONTAINE-MONOPOLE S.A. See also lots 17, 18, 20, 23, 31, 63, 66, 68,
BELGIUM : LIEGE. CHAUDFONTAINE. Action, 69, 70, 71, 72, 73, 74, 75, 76, 168, 177, 219,
specimen. blue, grey. Attractive piece, with 221, 293, 298, 299, 300, 306, 364, 365, 375,
decorative border, and vignette of a bird on 387, 397, 409, 411, 412, 458, 459, 461, 462,
a glass of water. The logo gives the water- 463, 464, 465, 470, 479, 486, 522, 560, 581,
temperature - +36,6°C - a chaude fontaine 590, 596.

161 BRUGSE ZEEVAARTINRICHTINGEN


indeed. Formed 1925 to acquire the BULGARIA
properties and rights to exploit the source. In 168 CONCESSION "PRINCE BORIS" (CHARB.
BELGIUM : WEST-VLAANDEREN. BRUGGE.
1939 took over S.A. Eau Minérale Thermale DES BALKANS), S.A. D'EXPLOITATION DE LA
Preferent Aandeel van F500. green. #9000.
Chaudfontaine. BULGARIA : BRUXELLES. Action de F500.
No 6850. See previous lot, but this type is
1958 UNC EUR 100 blue, grey. #4000. No 3995. Text in French
new to us. Cancelled.
165 MECHANISCHE CONSTRUCTIE and Bulgarian. Owned a coalmine concession
1969 EF EUR 100
WATTEEUW N.V. in Trevna, Bulgaria.
162 CHARB. DES QUATRE-JEAN DE RETINNE
BELGIUM : WEST-VLAANDEREN. BRUGGE 31 July 1900 VF-EF EUR 30
& QUEUE-DU-BOIS, S.A. DES
(ST.MICHIELS). Aandeel. green, black. #1250.
BELGIUM : LIEGE. QUEUE-DU-BOIS. Part.
No 725. Est. 1952. Produces machinery,
green. #24000. No 10107. Large repaired
gearwheels , etc.
tear at the top. Large vignette of miner at
1981 EF EUR 20
work. Founded 1877. The coal was originally
166 LERNOUT & HAUSPIE SPEECH
transported from Liège to Verviers, to serve
PRODUCTS N.V.
the local industry. Operations stopped in
BELGIUM : WEST-VLAANDEREN. IEPER.
1959.
Common Shares. blue, black. No 11235.
1957 VF EUR 10
Folds. Doubtless the biggest financial scandal
163 KINGDOM OF BELGIUM - TELEGRAPH
in Belgium in recent years was the implosion
AND TELEPHONE ADMINISTRATION
of Lernout & Hauspie, a high-tech company
BELGIUM : 5,5% External Loan Serial Bond of
focusing on speech technology. L&H was
$1000. blue, buff. No 3234. Folds, punch-
quoted on both Nasdaq and Easdaq. Rumor
cancelled and some edge-damage with small
was that the company shares were never
paper loss, not into the printed part of the

18
169 JUTSBOENARSKA VOLKS-BANK REPUBLIQUE TCHECOSLOVAQUE
BULGARIA : SOFIA. Action de 100 leva. CZECHOSLOVAKIA : 5% Bon de FF.1000,
multicolour. No 9461. Central fold. One of specimen. green, brown, black. Folds.
the most colourful of Bulgarian bank shares, Attractive bond with coat-of-arms of
with splendid corner vignettes of agriculture Czechoslovakia, also in underprint. The loans
and industry, and large underprint of a amounted to 600 million francs, but we
peasant lady. don't remember seeing one issued. Text in
1936 VF EUR 50 French and Czech.
4 April 1932 EF EUR 200
See also lot 329 and K&K Monarchy.
ESTONIA

176 REPUBLIC OF ESTONIA


ESTONIA : LONDON. 7% Bond for £500.
green, black. No 70. See previous lot.
170 DRESSMAKERS COOPERATIVE IZGRAV
1 July 1927 VF-EF EUR 300
BULGARIA : SOFIA. Cert. of 5 Shares of 250
Leva. green, brown, yellow, blue. No 4386- FRANCE – before 1800
90. Central fold. Traditional ornate Balkan-
style border, showing scissors, measuring-
tape, iron, etc., used by these ladies.
1937 VF-EF EUR 50
1
174 HAVANNA, TUBAKATEHAS OSA-ÜHISUS 77 EARLY BILL OF EXCHANGE LILLE-
ESTONIA : TALLINN. Cert. of 10 Shares. pink, ANTWERP
black. No 51-60. Folds and one small edge- FRANCE : LILLE/ANVERS. Lettre de change de
tear. Undated tobacco share, probably from 500 Livres gros. black. Handwritten bill of
the early 1920s. The company capital exchange to be exchanged for currency after
amounted to 1.000.000 Emrk. Only this one a 5 day period but in effect repaid on June
piece is known to us. 14. Signed amongst others by Jean Baptiste
+/-1924 VF EUR 300 Van Praet & Fils, possible an Antwerp
printing firm doing a business transaction in
171 ESPORTAZIONE ITALO-BULGARA, SOC. Lille (where this bill of exchange was issued).
BULGARIA : SOFIA. Share of 100.000 Leva. 3 Juin 1704 VF EUR 100
multicolour. No 1230. Very colourful share
with vignettes of farm animals and fruit. The
company purpose was to export these
agrarian products to Italy.
1942 EF EUR 100
See also lot 65.
(former) CZECHOSLOVAKIA
172 AKMOS, MORAVIA-SILESIA IRON-
WORKS CO.
CZECHOSLOVAKIA : MOR. OSTRAVE. Share of
178 BANQUE ROYALE - JOHN LAW
320 Korun. brown, grey. No 6005. Small
BANKNOTE
format. Operated an ironworks in Ostrava,
FRANCE : Billet de Banque de 1000 Livres.
close to the Polish border.
black. No 777963. Bottom right corner cut to
1940 EF EUR 20
cancel the note.
John Law first urged the establishment of a
national bank to issue banknotes backed by
land, gold, or silver long before his moving to
175 REPUBLIC OF ESTONIA
Paris. It was one of his recommendations for
ESTONIA : LONDON. 7% Bond for £1000.
Scotland in his 1705 publication entitled
brown-purple, black. #100. No 98. Left
"Money and Trade Consider'd with a
border has some paper missing, but outside
Proposal for Supplying the Nation with
the printed part of the bond. Loan raised by
Money". The Scots rejected Law's ideas and
Estonia on instructions from the League of
it would take another decade for him to
Nations, in connection with a banking and
make the same suggestions again, this time
currency reform program. Fine view of
Tallinn, and underprint of arms of Estonia. To to the French regent, Philippe d'Orléans. This
time, Law had more success.
be repaid from duty on tobacco and alcohol.
Highest denomination, of which only 100 In 1716, he established the Banque
Générale, a private bank, but 3/4 of the
were issued.
173 EMPRUNT EXTERIEUR DE LA capital consisted of government bills and
1 July 1927 VF EUR 600

19
government-accepted notes, effectively on capital, shipments left/returned, taxes, ROI CONERNANT LA COMPAGNIE DES INDES
making it the first central bank of the nation. dividends, interests,...). FRANCE : PARIS. 2 Publications. black. The
In 1718, this bank, now renamed 'Banque 1772 VF EUR 50 1769 law allows the Co. des Indes to
Royale', issues its first famous 'billets de organize a lottery as a way to improve the
l'Etat' in (partial) replacement of the King's company finances. The second law talks
(and thus the nation's) gigantic bond debt. about the repayment of the shares of the
Hence their name '(bank)notes of the former Co. des Indes (as part of the company
nation'. They are the first official French liquidation).
banknotes and a key revolution in 1769+1792 VF EUR 100
worldwide finance.
While officially backed by gold and silver in
the bank's safes, it didn't take very long
before the French discover this was only
partly true. The 1720 panic caused a run on
the bank and the - temporary - end of
fiduciary money, as well as the end of the
career of John Law's, who fled the country 181 COMPAGNIE DES INDES
overnight. FRANCE : 2 Publications de vente. black. Two
1 January 1720 EF EUR 300 separate publications re. the sale of products
from the Co. des Indes, one is dated 1749,
the other 1770. Full of info (on both sides).
1749+1770 VF EUR 80

184 ASSURANCE, CIE. D'


FRANCE : 44 LOIRE-ATLANTIQUE. NANTES.
Acte de société. black on blue paper. Folds.
4-page document printed upon the
foundation of the Co. d'Assurance, a
shipping insurer from Nantes. It lists the
company rules and the 50 or so
shareholders. The company capital
amounted to 60.000 Livres divided into 120
shares of 500 Livres each. The day-to-day
operations were laid by René Tual and the
company rules state his powers to act on
179 2 ARRESTS DU CONSEIL D'ESTAT DU behalf of the company board (4 other
ROY - CO. DES INDES/J. LAW 182 COMMERCE DE L'INDE people). We have never seen any scripophily
FRANCE : black. Very large format with folds. FRANCE : 78 YVELINNES. VERSAILLES. Black. of this company.
The first law orders that the banknotes (see Mémoire présenté aux Ministres du Roy par 1 June 1778 VF EUR 100
previous lot) will only be accept at face value les Députés des différentes places de
(so excluding any speculative value) while commerce du Royaume. Large 4-page
the second law proclaims that shares in the document, handwritten but easily readable.
Compagnie des Indes must be turned in to An important memorandum written by
the State before November 10 (Paris) or official deputies from all over France to be
November 20 (rest of France), all others will presented to the King's ministers at
become valueless. This surely explains why Versailles. In it, the writers demand a free
so few shares of the Co. des Indes have ever trade to the Indies and attack the privileges
been found in the collector community. granted to the Co. des Indes.
1720 VF EUR 200 10 June 1787 VF EUR 400

185 ORDONNANCE DU ROI CONCERNANT


LA COURSE & LES ARMEMENTS DES
CORSAIRES
FRANCE : 33 GIRONDE. BORDEAUX.
Publication officiele. black. Large format,
180 COMPAGNIE DES INDES ORIENTALES DE
with folds. The decree wants to counter any
FRANCE
private initiatives of shippers claiming to be
FRANCE : black. Folds. Detailed overview
official privateers and selling shares to the
between 1725 and 1771 of the business of
public without the right to do so.
the so-called second Co. des Indes (details
183 LOI & ARREST DU CONSEIL D'ETAT DU 28 February 1780 VF EUR 100

20
very large document (4-pages) with on it 4 20 September 1842 VF-EF EUR 150
shares of the Pont de La Mulatière (2 shares
on page 1 and 2 more on page 3, the other
pages being blank). All shares are issued
(bearing numbers, and being signed by 5
company directors). However, no
shareholder name is filled in, so they could
be considered as unsold stock, or perhaps
simply (but most unusually for the time)
bearer shares. The company was formed to
build a bridge across the Rhône, just south of
its confluence with the Saône. This bridge,
now rebuilt wider and stronger of course, is
the main bridge on the autoroute south from
the city. The company had already received
two loans, one from the city of Genova, and
the other from the King of France. Dividends
on the shares were to be paid from the tolls
collected on the bridge. A most unusual lot. 190 LE SAUVEUR, CIE. D'ASSURANCES
1 January 1790 VF-EF EUR 1.000 GENERALES CONTRE L'INCENDIE
186 TRESOR ROYAL - EMPRUNT DE FRANCE : PARIS. Action de F2500. black. No
DECEMBRE 1784 318. Folds. Early fire insurance company est.
FRANCE : PARIS. Billet de 1000 Livres. black. 1842 in Paris. High denomination. Not seen
No 10534. Slightly damaged top border. before by us.
Unusual vertical format with 20 coupons 1842 VF EUR 80
(1790-1809) and at the bottom the actual
1000 francs bond issued early 1785 as part
of the December 1784 loan issue. The loan
amounted to 125 million Livres and
promised a 5% interest and, with an amount
of 175 million Livres clearly oversubscribed.
The loan was organized by Charles Alexandre
de Calonne (1734-1802). He was Controller-
General of Finances from 1783 onwards and
tried to remedy the fiscal crisis, creating a
vast and ambitious plan of revenue-
increasing (with an important land-tax) and
administrative centralization. His couldn't
get enough support for his plans, and was 188 CAISSE D'EPARGNES ET DE 191 CAISSE D'ENCOURAGEMENT, VEUVE
dismissed by the King in 1787. Not seen BIENFAISANCE (SECONDE SOCIETE) CLAVIER & CIE.
before by us, and, unlike most French 18th FRANCE : PARIS. Action de 90 livres. black. FRANCE : 33 GIRONDE. BORDEAUX. Action
century debt documents, not a rent viagères No 131510. Folds, some edge-damage and de F1000. black. #900. No 678. Small brown
but a ‘normal’ bond. small hole in the center. Vignette at the stains and missing lower left corner (outside
31 January 1785 VF EUR 100 bottom of two men with a cornucopia. the printed part of the share). Founded 1854
Signed by Lafarge. In effect this was a lottery to facilitate good works, and to aid public
loan, with prizes of tontine rentes to the utilities. Still existing in the 1930s as Guédon,
winning 'actions'. Neau & Cie.
30 September 1793 F-VF EUR 200 7 January 1857 VF EUR 70
FRANCE - finance

189 LA CONCORDE, S.A. POUR LA


FORMATION ET LA GESTION D'ASSURANCES 192 CAISSE D'ESCOMPTE DE GRENOBLE
MUTUELLES SUR LA VIE FRANCE : 38 ISERE. GRENOBLE. Action
FRANCE : PARIS. Action Nominative de Nominative de F500. black, buff. No 3090.
F1000. black. #1000. No 609. Central fold Central fold with piece of paper missing at
and one small stain. One of the earliest life the central top - but outside the printed part
insurers from France we have ever of the certificate. Bank formed 1857 in
187 PONT DE LA MULATIERE Grenoble, the "Capital of the Alps".
FRANCE : 69 RHONE. LYON. 4 Actions de 500 encountered. The company was founded in
1842 with a capital of 1 million francs. First Decorative border.
livres. black. No 373-4, 391-2. Most unusual 11 February 1865 VF EUR 60
time in our auction.

21
"Compagnie des Canaux de Bretagne" (1822)
and later by the "Compagnie des 4 Canaux",
of which we offer here a share. It is this
company which finalizes the work and
remains in operations until 1882, as
indicated by dividend stamps on the back of
the certificate. Only two pieces known to us.
1 October 1823 VF EUR 200

193 BANQUE INTERNATIONALE DE CREDIT


"UNION FRANCAISE"
FRANCE : PARIS. Obligation de F1000. green,
black. No 11389. Large format with many
folds and a few small splits. Interesting
certificate, giving the right to participate in
several lottery bond issues: Panama 1889,
Congo 1888, Exposition 1889 and
Associations de la Presse 1887 combined
196 BATEAUX A VAPEUR DE L'OISE ET DE
with a repayment of the 1000 Fr face value
L'AISNE, CIE. GEN. DES
in case of lethal accident.
FRANCE : PARIS. Action de F500. black on
1888 VF EUR 60
yellow paper. No 115. Both the river Oise
and the Aisne are navigable to small vessels,
and have been used for transport in the past.
Also, there is a canal linking them. Early
date.
6 July 1838 VF-EF EUR 100

199 HELICE MOBILE, CIE. GEN. DE


NAVIGATION A VAPEUR SUR LES CANAUX
194 FRANCOIS CASATI & CIE. FRANCE : PARIS. Action de Jouissance. Serie
FRANCE : 13 BOUCHES-DU-RHONE. 2. blue, pink. No 4078. Large format, with a
MARSEILLE. Par Bénéficiaire. purple. No pretty and delicate border, showing canal
1108. Fold. Rarely seen in issued form. shipping scenes, Mulhouse and Le Havre,
Decorative piece, with fine underprint of water plants, etc. Design by Pierre-Eugène
shipping in port, the arms of Marseille, Grandsire, painter, born at Orléans in 1825,
company offices, Mercury and a lady died Paris 1905. The company owned two
blacksmith. This was a bank from Marseille, steamboats on its formation, as well as
197 RECTIFICATION DES RAMPES DE JOUHE patents and rights for a propeller propulsion
later part of Crédit Marseillais. ET DE MENOTEY ROUTE DEPARTEMENTALE
30 June 1923 VF EUR 100 system.
DE DOLE A GRAY 12 February 1864 VF-EF EUR 100
FRANCE - transport FRANCE : 39 JURA. PARIS. Action de F1000.
black. No 2. Central fold and several tiny
edge-splits (repaired). Thin paper. A royal
concession was granted in 1844 to a Paris
engineer to build and manage 'rampes',
195 QUATRE CANAUX, CIE. DES serving the Jura villages of Jouhe and
FRANCE : PARIS. Action de Jouissance. black. Menotay, on the RD13 between Dôle and
No 2277. Central fold with small splits and Gray. He formed this company in Paris to
pin-holes. operate his concession, and receive the tolls
Canaux de Bretagne, du Avernois, du Duc de for use of the 'rampes'. We are not sure
Berry et Canal Latéral à la Loire. Already in what the rampes were, but suppose they
1746, Count François Joseph de Kersauson gave access between the road and the
wanted to stimulate the economy in Brittany villages. Not seen before by us. 200 HELICE MOBILE, CIE. GEN. DE
by constructing a channel between Nantes 1844 VF EUR 200 NAVIGATION A VAPEUR SUR LES CANAUX
and Brest (360 km). Having the plans but not 198 CANAL DE SECLIN, SOC. DU FRANCE : PARIS. Action de Jouissance. Serie
the necessary means, he soon had to FRANCE : 59 NORD. SECLIN. Action de F500. 1. blue. No 1295. See previous lot.
abandon his project. The idea was resumed black. No 341. Formed 1855 in Seclin, to link 12 February 1864 VF-EF EUR 100
in 1803 by the engineer Guy Bouessel who the coal-mines, textile mills, etc. of the Seclin 201 C.D.F. SOUS-MARIN ENTRE LA FRANCE
wanted to connect the arsenals of Brest and area, south of Lille, to the Canal de la Haute- ET L'ANGLETERRE ASS.
Lorient with Nantes and Saint-Malo in times Deule, at Houplin-Ancoisne. Length 4km. The FRANCE : PARIS. Cert. de Propriété de Part
of war and sea-blockades. From 1812 till Haute-Deule then led to Comines, on the d'intérêt F5000. black. #400. No 67.
1814, Spanish prisoners worked on the river Lys and the Belgian border. The canal Generally somewhat worn condition with
Channel on the Loire inférieure. Due to bad also served to drain the marshes in the area. folds and old-style tape to repair tears, but
working conditions and many revolts, the First time we see scripophily from this no paper missing.
work did not progress fast. company. The idea of linking France to England by rail
From 1822, the work was resumed by the 9 January 1858 VF EUR 200 is not new. In 1802 the French engineer

22
Mathieu proposed a road route under the 30 March 1875 F-VF EUR 500 204 BATEAUX DE LA COTE D'EMERAUDE SA
Channel. This was proposed during a brief FRANCE : 35 ILLE ET VILAINE. DINARD. Action
peace in the war between Napoleon's France nominative de F100. black. #2250. No 2169.
and England. However, war soon broke out Folds. Formed 1904 to offer a shipping
again, and the idea was rejected out of hand. service for passengers and cargo around the
Cartoons showed French troops walking Emerald Coast in north Brittany. Today is
under the sea in a road tunnel! The scheme called Emeraude Ferries, and carries
existed only on paper. Engineers lacked the vehicles, passengers and freight on high-
necessary technology and geological speed car-ferries between the Channel
knowledge. Islands and St.Malo.
It was only in 1867, after the Universal 1 June 1906 VF EUR 30
Exhibition, that a serious design was put 205 TRAMWAYS DE CANNES, CIE. DES
forward, and a French-English committee FRANCE : 06 ALPES-MARITIMES. LYON.
was formed to submit definite proposals to Action de F100. blue, buff. #26500. No 345.
the two Governments. Two years later, the Formed 1898 to electrify, expand and
examination of it was entrusted to a operate the tramway system in Cannes and
Commission. 1874 brought a formal demand suburban towns, carrying passengers and
for a concession, and, by the law of 2 August freight. In financial trouble from 1925 on,
1875, the French Assemblée Nationale and acquired by the town.
declared the idea to be in the national 1 May 1908 VF-EF EUR 20
interest, and gave a concession to a 206 C.D.F. DE BERCK PLAGE A PARIS PLAGE
company, of which the President was a very FRANCE : 62 PAS-DE-CALAIS. PARIS. Action
prominent politician and economist Michel de F100. purple, buff. #6600. No 570. This
Chevalier, the French portion of a railway local railway linked the 2 sea resorts of
under the channel between France and Berck-Plage and Paris-Plage (the latter
England. Negotiations opened for a treaty known today as Le Touquet-Paris-Plage). The
between the two countries; the protocol was 17km line gradually opened between 1909
signed on the 30 May 1876. and 1912 and closed in 1929.
This French company and its English 202 GRAND CANAL MARITIME FRANCAIS, 15 May 1911 VF-EF EUR 30
counterpart started digging seriously in 1881 SOC. CIVILE d'ETUDES
from the cliffs between Dover and FRANCE : PARIS. Titre Provisoire, unissued.
Folkestone and Sangatte, west of Calais. black. Large format, with fold and a few tiny
Technically, it was a success -driven by edge-splits (repaired). Founded 1890 with a
compressed air, the boring-machines worked most ambitious plan: the construction of a
well, and there was so little flooding that major canal which would like the North Sea
they switched on the pumps for only 1/2 day with the Mediterranean Sea, from Le Havre
every two weeks! Within the first year each to Marseille. It would imply the (partial)
side had bored almost 2km of tunnel, and canalization of the Seine, Loire and Rhône
expected to complete a 7-foot pilot tunnel rivers. According to the project (of which
across the Channel within 5 years. detailed info can be found on the internet),
However, in 1882 the English company faced such a voyage would take 5 days. The lot
political opposition - the two Governments includes the company rules, full of info, in a
had quarreled over the Suez Canal and separate publication (16 pages). Not seen
colonies in Africa. The British military did not before by us.
trust the French, and in 1883 further building 189. VF EUR 200
of the tunnel was banned. The French gave
up, believing the British would always want
to remain an "island fortress". Michel
Chevalier died at this time. The experience of 207 AUTOMOBILES DELAHAYE (4 types)
the Great War showed the economy in FRANCE : PARIS. 1. Action Ordinaire de F115,
human lives, the vast expense, the sacrifices unissued. 2. Action Privilégiée de F115,
and suffering of all sorts which would unissued. 3. Cert. Nom. Mixte d'Action
doubtless have been saved if the British had Privilégiée, unissued. 4. Action de F4000.
earlier realised the enormous advantages of Delahaye is one of the great names in French
having a fast and safe route of automobile history. Established in 1845, it
communication between the two countries. initially produced brick-making machinery,
It was estimated that a tunnel could have 203 MARITIME "L'UNION BELLILOISE", CIE. later turning to stationary engines. It built
shortened the War by two years. FRANCE : 56 MORBIHAN. LE PALAIS, BELLE- cars at Tours and Paris from 1894 to 1906,
After WWI there were further trial borings ILE. Action Nominative de F50. Serie 3. blue, then under this name in Paris until 1954.
but the idea still foundered on lack of mutual red, buff. Central folds, small edge-damage The first Delahayes were very much on Benz
trust. It was only in 1973, when Britain finally and some staining. The island of Belle Ile lines, with slow-running, rear-mounted
joined France in the Common Market that (some 80 sq.km.), off the south coast of horizontal engines and belt transmission.
the idea was seriously resurrected, but then Brittany, has a long fishing tradition, Delahaye took 6th place in the Paris-
rising oil prices brought financial constraints. especially for sardine and anchovy, and of Marseille-Paris race of 1896, but the firm
In the 1980s the project finally went ahead, course needed contact with the mainland. took little interest in competitions. They
and work started on both sides in 1987, with These were the work for the company. Small were very interested in commercial vehicles,
final opening in 1994. vignette of a sailing-ship. Dividends paid up which made their début in 1898, and
Hand-signed by Michel Chevalier, as to 1952. became steadily more important in later
president. Only 400 pieces issued, and only 1900/1901 VF EUR 50 years. In 1898 a range of car models was on
once before seen by us.

23
offer, and this widened with the introduction collection. les-Mines) and Enguinette, in the Pas-de-
of larger models. The company concentrated 1927-1980s VF-EF EUR 200 Calais, 12 miles southwest of St.Omer. Date
on large, upmarket models, and by 1914 unknown, but paid a dividend in 1870. We
offered a range from 1,6 to 5,7 litre types, all suppose the company worked the mine of
with conventional 4-cylinder engines. Fléchinelle, the only one in the Enquin area.
After World War I the company produced Although worked from 1858 to 1928, it was
reliable but uninteresting cars until the early never very profitable. Very decorative share,
1930s, when more modern techniques were with a fine border of flowers, and vignettes
introduced. Exciting modern 6-cylinder of a mine, miners at work, and mining-tools.
sports models appeared, and these scored 1858? F-VF EUR 200
notable victories in the top European races
and rallies. Production finally ceased in 1954.
Exceptional set of Delahaye shares. 211 LOUIS TRABET, S.A. DES ETS.
Various dates EF EUR 150 FRANCE : MONTREUIL-SOUS-BOIS. Action de
F100. brown, buff. #10000. No 6286. The
logo of a racing-car and steering-wheel is in
the border and the underprint.
1929 EF EUR 50
212 CHALUTIERS FECAMPOIS S.A., LES
FRANCE : PARIS. Action de F500. blue, green.
#4000. No 964. Underprint of a fishing 215 LA PENSYLVANIENNE - GABRIEL SALAVY
trawler. & CIE.
15 June 1926 EF EUR 20 FRANCE : 13 BOUCHES-DU-RHONE.
FRANCE – mining & oil MARSEILLE. Action de F500. black, pink. No
208 AUTOMOBILES ET D'AVIATION, SOC. FR. 2325. Folds and some pin-holes. Formed
FRANCE : 45 LOIRET. ORLEANS. Part 1864, in Marseille, for the import of the
Bénéficiaire. green. No 1007. A marvelous newly-discovered oil from Pennsylvania.
design of many different types of primitive The first U.S. oil arrived in Europe in 1861 in
aircraft, at the top, and cars, at the bottom. London, and then the following year in
Also headlamps, drivers, etc. It appears that Marseille. At least 4 companies were formed
by 1910 France had not decided on which in MRS at this time for the new trade. This
side of the road to drive! A most decorative was one of them, named after a song from
piece. the American War of Independence, and
30 October 1910 EF EUR 50 enjoyed by the French troops. The song
spelled the name with just one 'n', so this is
not a spelling error.
213 FIENNES, SOC. DE The company built a refinery on the chemin
FRANCE : 62 PAS-DE-CALAIS. BOULOGNE- de Ste-Marthe, quartier du Canet.
SUR-MER. Coupon de F1000 de l'Action de Unfortunate for the company, 1864 saw the
F3000. black, buff. No 1510. Large central explosion of four storage tanks, caused by a
tear, repaired with tape and some other plumber's mistake, and the financial loss
folds. Very early coal mine, founded 1837 seriously damaged the company. However, it
with a capital of 1,8 million francs divided continued until 1867, when it was liquidated.
into 600 shares of 3000 francs. Each share By this time the whole European oil import
was divided into 3 "coupons" of 1000 francs trade, initially flourishing, was in difficulties.
209 ENGRENAGES CITROEN, S.A. DES each. Exploited mining concessions in Réty, Too much competition, from various
FRANCE : PARIS. Action Ordinaire de F100. Hardinghen and Laborde (Boulonnais, Nord- countries in the Mediterranean, and the
blue, buff. #15000. No 20679. Attractive Pas-de-Calais). Taken over 1870 by the Co. slowness of industry to adapt to the new
piece, with corner vignettes of different sets des Charb. de Réty, Ferques et Hardinghen. fuel, brought an end to many such
of gears - the company products. Difficult to Not seen before by us. companies. Shows the coat-of-arms of
find. 1838 F-VF EUR 200 Marseille. Decorative border with oil pipes.
1 March 1913 VF EUR 100 Certainly the oldest French (European?) oil
share we know of.
15 July 1864 VF EUR 100

210 ANDRE CITROEN S.A. (8 types) 216 MINES DE LA BASSE LOIRE, S.A. DES
FRANCE : PARIS. 1. Action B de F500, 1927. 2. 214 MINES DE HOUILLE D'ENQUIN &
D'ENGUINEGATTE, CIE. DE LA MORINIE DES FRANCE : 49 MAINE-ET-LOIRE.
Dixième d'Obligation de F1000, 1936. 3. Bon MONTJEAN/PARIS. Obligation de F300.
de Rompu, 1936. 4. Action de F70, 1975. 5. FRANCE : 62 PAS-DE-CALAIS. ST. OMER.
Action Nominative de F1000. black. #3000. black, buff. #6000. No 1982. Folds and a few
Action de F75. 6. Action de F3500, cap. edge-splits. Coal concessions in Saint-
4.270.000.000. 7. Same, cap. 6.405.000.000. No 659. Folds with stains. Formed St. Omer
(Nord) to mine coal at Enquin (today Enquin- German-des-Prés and Saint-Georges-sur-
8. Action de 75 NF. A good Citroën

24
Loire. The company also manufactured lime Guernsey - a very unusual feature. Was it an de Flandre is a suburb of Paris in the 19th
using coal as the fuel. The mine probably early tax-haven? arrondissement. Manufactured not only
closed in the early 1960s. 6 March 1906 VF-EF EUR 100 paper, but also starch.
18 March 1874 VF EUR 50 221 CARRIERES A PAVES & MACADAM DU 1845 VF EUR 50
PAS-DE-CALAIS S.A.
FRANCE : 62 PAS-DE-CALAIS. BRUXELLES.
Obligation de F500 4,5%, specimen. red,
buff. #475. Hole-cancelled. Folds. Est. 1899
in Brussels to operate a stone quarry in the
Pas-de-Calais for road construction.
Macadam (tarmac) is a type of road surface
invented by Scottish engineer John L.
McAdam around 1820.
1900 VF-EF EUR 10
222 MINES DE FER DE ST-REMY-SUR-ORNE
FRANCE : 14 CALVADOS. PARIS. Cert. de 8
217 HOUILLERES DE LA FERRIERE ET DES Actions Nominatives. black. No 546. Folds.
ESSARTS, SOC. CIVILE DES Company founded 1877 and became a 225 CONSTRUCTION ET EXPLOITATION DE
FRANCE : 85 VENDEE. PARIS. Part au Porteur. limited company in 1923. Iron mine approx. MACHINES A DOUBLE MOTEUR
black, olive. #2000. No 1754. Folds. Mines in 30km south of Caen. FRANCE : PARIS. Cert. prov. de 10 Actions de
the Vendée, west France. 17 June 1955 VF EUR 30 F500. black. No 6461-70. Thin paper, with
1877 VF-EF EUR 50 FRANCE - industry some edge damage, outside the printed part
of the share, and staining at several places.
Company founded to exploit the patents of
Mr. H. Gillard. It concerns a 'machine with
double engines'. We read in a contemporary
newspaper that this engine combines a
classic steam engine with the re-utilization of
the "expanded air", leading to a 40% power
increase. The first practical application for
such an engine was to be in locomotives. We
couldn't find any news on the success, or
failure, of the company and its innovative
218 CARRIERES DE BARJAC ET DE SAINT- engine. First time seen by us.
PRIVAT, SOC. DES 24 May 1846 F-VF EUR 100
FRANCE : 69 RHONE. LYON. Action de F500.
black. #1600. No 1600. Folds and a few edge-
splits (repaired). Stone quarries near Orange.
Not seen before by us.
9 February 1882 VF EUR 50 223 PONT-REMY, SOC. POUR
219 ARKOSES DE HAYBES, S.A. DES L'EXPLOITATION D'UNE MANUFACTURE DE
FRANCE : 08 ARDENNES. BRUXELLES. Action TOILES A VOILES EN PHORMIUM TENAX, OU
Ordinaire. blue. #2700. No 2362. Folds. LIN DE LA NOUVELLE ZELANDE
Company founded in Belgium but working a FRANCE : 80 SOMME. PARIS. Action de
slate quarry in Haybes, just across the border F1000. black, buff. #1500. No 1275. Folds
in France in the department des Ardennes. with a few edge-splits (repaired). The
31 March 1882 EF EUR 30 company, founded in 1838, manufactured
sails for ships, using phormium tenar, or
New Zealand linen. Also weaving by machine
of indigenous and foreign linen. Perhaps the 226 ECLAIRAGE PAR LE GAZ DES VILLES DE
earliest machine textile share we have MEAUX ET FONTAINEBLEAU, CIE. D'
seen. FRANCE : PARIS. Action de F300. black.
17 March 1838 VF EUR 200 #1325. No 709. Some staining at the right
half of the share. The company provided gas
light to the cities of Meaux (40km east of
Paris) and Fontainebleau (more to the
southeast of Paris). This company was part
of a larger scheme to provide gas light to
different French cities, organized by the
"administration centrale d'éclairage par le
gaz dans les départements". Not seen before
by us.
220 HOUILLERES DE LA DORDOGNE, MINES 12 March 1846 VF EUR 150
DE CHARBON DU LARDIN (2 types) 227 GAZ GENERAL DE PARIS, SOC. DU
FRANCE : 24 DORDOGNE. GUERNSEY. 1. 5 FRANCE : PARIS. Obligation de F300,
Shares of 5/- Sterling, red & brown. 2. 20 unissued. yellow, black. Large format, with
Shares of 5/- Sterling, green & brown. The 224 PAPETERIE ET FECULERIE DU PONT DE folds. Probably a printer proof. Company
mines were at Condat-Beauregard. Text in FLANDRE SOC. formed 1855 to light the streets of Paris. The
English and French. Jugendstil/Art Nouveau FRANCE : PARIS. Action de F500. black. No company also sold "portable gas" to
border of leaves. Company registered in 270. Repaired lower right corner. The Pont households. We know of the 1886 shares of

25
this company, but the bond we offer is by far printing press (1882). Both names are plant, at le Bourget (Seine). The shares were
the oldest scripophily of this firm we know generally seen as among the most important sold mainly in Brittany. By the mid-1920s the
of. The lot comes with the names of all pioneers in solar energy worldwide. company was producing 15.000 tonnes of
investors in this bond issue. The certificate we offer is signed as director iron and steel goods per year (primarily for
1 July 1868 VF EUR 100 by Abel Pifre. It was issued at a time the the local agricultural market - wheels for
French government refused to further carts and agricultural machinery,
sponsor the research by Mouchot and Pifre horseshoes, etc.). The company's prosperity
as coal prices were dropping and hence is shown by the steadily increasing capital
making solar energy an alternative they did and nominal value of the shares, as shown
not need to examine any further. The two by stamps on the share. An attractive share,
men were clearly a century ahead of their showing a beautiful lady blacksmith with her
time. Issued to the Dreyfus brothers. Only tools, the company's works, arms of St.
two pieces known to us. Brieuc, etc. First time in our auctions.
25 January 1881 VF EUR 100 1937 VF EUR 90
233 BUISINE S.A., ETS.
FRANCE : 59 NORD. LILLE. Action de F500.
blue, yellow, red. #800. No 949. Most
colourful share for this printing company,
whose original business was founded in
1676. Signed by Buisine, but presumably not
the original founder. Border of roses and the
arms of Lille.
1920 EF EUR 20

230 MACHINE "CALENDOLI", SA FRANCAISE


FRANCE : PARIS. Action de F500. green, red.
#4000. No 2504. Elegant Jugendstil/Art
nouveau border, and large vignette of the
Calendoli typesetting machine. Père
228 EMBRAYAGE ELECTRIQUE SOC. Calendoli, a Sicilian Dominican, invented a
FRANCE : PARIS. Action Nominative de F500. machine far in advance of others in
black. #1000. No 157. Folds. The company existence. Although printing had made great
developed an electric coupling mechanism. advances, type-setting was still done by
Early date for any electro-mechanical methods not far ahead of those of
equipment. 234 BOIS IMPREGNES - UNION DE
Gutenberg. The new machine allowed the
30 September 1865 VF EUR 50 PRODUCTEURS DU SUD-OUEST
composer to use all ten fingers at a time,
FRANCE : 40 LANDES. MEES/DAX. Part
instead of setting the characters one at a
Bénéficiaire. black, buff. No 68. Three
time. It was claimed that an operator could
different vignettes of wood processing.
set 50.000 characters in an hour, as
Mées is a village in the south-west of France.
compared with 3.000 for a skilled hand-
1 June 1922 EF EUR 50
setter, and 8.000 for the best existing
machine.
1 July 1902 VF-EF EUR 100
231 FORGES ET ACIERIES DES ARDENNES SA
FRANCE : 08 ARDENNES. CAMBRAI. Action de
Priorité de F100. blue, buff. No 1732.
Attractive share with coat-of-arms of the
double eagle and corner vignettes
representing the iron- and steelworks. Not
229 UTILISATION DE LA CHALEUR SOLAIRE, seen before by us.
SOC. CENTRALE D' 11 December 1912 VF-EF EUR 30
FRANCE : PARIS. Cert. d'Inscription d'Actions
Nominatives F500. black. No 41. Folds. This
must be the earliest company we have seen
in the business of solar energy. Est. 1881.
The company used the patents of Abel Pifre 235 PRODUITS CHIMIQUES DU MIDI, CIE.
and Augustin Mouchot (1825-1912). The FRANCE : 13 BOUCHES-DU-RHONE.
latter was a French engineer known for his MARSEILLE. Cert. d'Actions Nominatives
work on solar energy. He started d'Actions de F500. black on blue paper. No
experimenting with solar cooking in 1860. By 252. Folds and a little edge-damage.
1866, Mouchot had developed the first Company founded 1872 to make ammoniac
232 FORGES & LAMINOIRS DU BOURGET &
parabolic trough solar collector, which was soda. The company remained active until at
DE BRETAGNE, SOC. DES
presented to emperor Napoleon III. He build least 1916.
FRANCE : 22 COTES-DU-NORD. ST-BRIEUC.
solar steam engines and in 1871, a solar 1 June 1923 VF EUR 50
Action de F250. brown, green. #16000. No
generator for the Tours library. During the 236 LES CHARPENTIERS DE PARIS S.A.
11235. Pin-holes in the upper left corner,
1878 World Exhibition he demonstrated, FRANCE : PARIS. Cert. Nom. de Parts
folds and trimmed right border. Formed
together with his pupil, Abel Pifre, an engine d'Intérêt de F250, unissued. green. Probably
1908, in the Eure dept., to renovate a closed
producing ice using concentrated solar heat. a printer proof. Artistic vignettes of wood
steel-works, behind the station, at St. Brieuc,
Pifre (1852-1928) from his side went on to workers (left) and metal workers (right).
by the owner of a similar works at Breteuil
develop, for instance, the first solar power 19.. UNC EUR 30
(Eure). Later he brought in another similar

26
237 LAMPYRIS, S.A. DES harvesting the wheat, an altar to the harvest First time seen by us.
FRANCE : 06 ALPES-MARITIMES. NICE. Action goddess Ceres, and a tower well-known in 31 August 1906 EF EUR 300
de F100. blue, black, red. #5000. No 3447. Agde. Lovely share.
Underprint of photo vignette of a machine- 28 November 1881 VF EUR 200
tool. Stylized coat-of-arms of Nice.
1 July 1943 EF EUR 40

244 GRANDE BRASSERIE COOP. DE LILLE S.A.


FRANCE : 59 NORD. LILLE. Certificat
d'Inscript.de 150 Actions Nom.F100. black.
#20000. No 41. Plain certificate, not seen
238 NOBEL FRANCAISE, SOC. before by us. The brewery was founded in
FRANCE : PARIS. Action de F2500, specimen. 1907 by Henri Jooris. Modernized in 1919
green. #130000. Founded in Paris by Alfred and renamed BCNF - Brasserie Centrale du
Nobel in 1875 as Société Générale pour la Nord de la France in the 1920s. The
fabrication des dynamites Nobel. After cooperative became a limited company in
acquiring the Société Générale de Dynamite, 1945 and by 1957, the company produces
the company was renamed as Soc. Nobel 40% of all French beer. Became part of
française in 1927. Merged with Bozel- Kronenbourg in 1983.
Malétra in 1957 to form Nobel-Bozel. In 24 March 1923 EF EUR 30
241 AGRICOLE & SUCRIERE DE LESDINS &
1886 this French Nobel company began
OMISSY, S.A.
supplying explosives to Ferdinand de
FRANCE : 02 AISNE. LESDINS. Action
Lesseps' Panama Canal Co.
Nominative d'une Action de 562Fr.948M.
Undated UNC EUR 50
blue, black. #1599. No 1940. Central fold.
FRANCE – food & drinks The sugar company was founded in 1870
under Prussian occupation by the Lesdins
mayor, Charles Lemaire. Closed in 1923 due
to a regrouping of 14 sugar firms in the
region. Not seen before by us.
1889 VF-EF EUR 100

245 PRODUITS ALIMENTAIRES DE


KEROMAN, SOC. DES
FRANCE : 56 MORBIHAN. LORIENT. Cert.
Définitif de 1000 Actions de F100. blue. No
96. Folds and a small edge-split. First time
we see scripophily from this company in
Brittany. As located in Keroman, with its
239 CAFE TORTONI, A BORDEAUX large fishing port, the company might be
FRANCE : 33 GIRONDE. BORDEAUX. Action part of the local fish industry.
de F1000. black. No 41. Folds with repaired 9 April 1927 VF EUR 60
edge-tears. The café Tortoni in Paris was 242 EAUX MINERALES DE PARDINA, SOC.
founded at the beginning of the 19th century FRANCE : 13 BOUCHES-DU-RHONE.
by a Neapolitan named Velloni, who was MARSEILLE. 1 Part de Propriété & d'Intérêts
succeeded by Tortoni, another Italian, de F500. brown, buff, black. #1000. No 128.
renowned for his cooking. The café was at A lovely piece, for a source of mineral water
the corner of the blvd des Italiens and the near Corte, Corsica. The water was bottled,
rue Taitbout, and was greatly used by the and also served in a pavilion to visitors. We
leading political and literary figures of the see a beautiful girl pouring water. By her are
day. The café disappeared about 1887. the arms of Corsica.
However, it had opened branches in 30 September 1889 EF EUR 60
Bordeaux, in 1827, and in 1858 in Buenos 243 LA BOULANGERE S.A. 246 GRAPPERIES DE VALENCIENNES, S.A.
Aires. The Bordeaux café was at the baths of FRANCE : PARIS. Action de F100. brown, FRANCE : 59 NORD. VALENCIENNES. Cert. de
Quinconces, beside the bourse. We know orange. #6000. No 2799. Fold. Formed Paris, 30 Actions Nominatives de F100. black on
that the Buenos Aires café still exists, as a 1908. Beautiful design in art pink paper. No 62. Several folds and slight
famous tango club. This very rare share is of nouveau/Jugendstil, showing three lovely edge-damage. Company founded 1900. First
the Bordeaux café. Probably unique. topless ladies harvesting the wheat (not time we see scripophily from this wine
6 August 1827 F-VF EUR 150 normal, even in France!), and a mother with house.
240 MINOTERIES REUNIES DU MIDI S.A. her daughter, taking home the family bread. 2 May 1928 VF EUR 100
FRANCE : 34 HERAULT. AGDE. Action de Also Ceres (the Roman goddess of 247 CHARCUTIERS DE FRANCE, SOC. COOP.
F500. black, olive. #2400. No 1008. Folds. agriculture) and Mercury, and a fine varied D'APPROVISIONNEMENT GENERAL
Long format, with a fine border showing the border. We do not find any info on the FRANCE : PARIS. Action de F500 Nominative.
two grain mills owned by the company, both company, but it surely operated a chain of pink, black. No 861. Many folds with several
in beautiful gardens. We see ploughing and bakeries (and doubtless patisseries) in Paris. splits (repaired). The border vignettes show

27
2 birds and a large piece of meat. A MARSEILLE. Action de F500. green, black. No brothers, famous inventors of the first
cooperative supplying butchers, est. 1893. 173232. The company's history goes back to successful balloon, continued to run the
Extremely rare. 1831 when a sugar company was founded in paper business after his father's death, and
2 January 1926 F-VF EUR 150 Roye. Taken over by Südzucker, Germany in his descendants in turn continued the
2001. Oldest share we have ever seen of this business. The share has a very fine large
company. engraving of the paper-mill in the mountains
30 June 1940 EF EUR 50 of the Massif Central. The nominal value of
5000 francs is unusually high. Hand-signed
by a Montgolfier family member.
5 January 1828 VF-EF EUR 250

255 MANEGE DUPHOT, SOC. DU


FRANCE : PARIS. Action de F1000. black.
#100. No 89. Generally somewhat worn
condition with folds and pin-holes. A famous
Paris horse racing school, located at 12, rue
251 DISTILLERIE COOP. "LA MILLAVOISE" Duphot (Arr.1) between place Vendôme and
FRANCE : 12 AVEYRON. MILLAU. Cert. the Madeleine church. Est. by the Comte
Nominatif d'une Part sociale de F20. brown, Antoine d'Aure - a famous equestrian whose
pink. No 1204. Underprint of grapes. ideas innovated horse-riding in the 19th
15 May 1943 EF EUR 60 century. The manège hosted 24 horses and
252 COOP. AGRICOLE D'APPROVISIONNE- had as main clients the aristocracy living in
MENT DES BOUCHES-DU-RHONE the nearby Faubourg Saint-Martin. The riding
FRANCE : 13 BOUCHES-DU-RHONE. school closed out the outbreak of World War
MARSEILLE. Titre de 10 Parts Nominatives de I. Only 100 shares issued and never seen
F100. brown, green. No 2408. Large before by us.
underprint of a map showing different farms 12 September 1835 F-VF EUR 200
248 CAVE COOPERATIVE DE GAILLAC-SUR- buildings, fields, etc.
TARN 12 July 1955 EF EUR 20
FRANCE : 81 TARN. CAHUZAC-SUR-VERE. 253 CO.FI.PAR - CIE. FINANCIERE DE
5,25% Obligation de F500. red, black. No 76. PARTICIPATIONS SUCRIERES
Small edge-damage. Unusual vignette of a FRANCE : 13 BOUCHES-DU-RHONE.
mediaeval seal. Gaillac is near Toulouse. Not MARSEILLE. Action de F150. green, buff.
seen before by us. #205142. No 155469. Modern share of a
1 May 1932 VF EUR 70 well-known French sugar holding. 256 BARON ET COMP.
249 INDUSTRIES AGRICOLES, CIE. NOUVELLE Undated EF EUR 30 FRANCE : PARIS. Coupon d'Action F250,
FRANCE : PARIS. 6% Obligation de F500.
FRANCE – various unissued. black. A little edge-damage with
yellow, blue. #4000. No 3541. Large
some paper loss. Company formed 1836 in
underprint of a grain field being worked.
Paris, to make daily deliveries of printed
1934 EF EUR 20
matter in Paris (within the walls). The share
was to earn 5% interest per year, as well as
dividends. Small vignettes of a man making
the deliveries, and two naked ladies with
trumpets
1836 F-VF EUR 50
257 THERMES D'ENGHIEN, S.A. DES
FRANCE : 95 VAL-D'OISE. PARIS. Action de
F500. red, black, buff. #6000. No 1615. Folds
and minor edge-damage at the bottom
(outside the printed part of the shares).
254 MONTGOLFIER, BECHETOILLE, DURET & Most attractive large format piece, with
CIE. - MANUFACTURE DE PAPIERS A TEILLY eight vignettes of the town of Enghien and
FRANCE : 42 LOIRE. TEILLY. 6% Action its 'thermes'. Decorative border, and
nominative de F5000. black on yellow paper. underprint of arms of Enghien. Printer Chaix.
Enghien, north of Paris, has been a thermal
No 106. The business was founded in Lyon in
1827 as a reorganisation of the Montgolfier resort since 1776. There were 13 sources, of
250 RAFFINERIES DE SUCRE DE SAINT- family paper-manufacture in the St. Etienne which 9 were used to treat illnesses. The
LOUIS, SOC. DES region. That business was originally founded water is cold, and with a heavy sulphur
FRANCE : 13 BOUCHES-DE-RHONE. in 1541. One of the two Montgolfier content. It is used for baths and for drinking.

28
Benefits are for the respiratory, digestive Ella Fitzgerald, Edith Piaf, Frank Sinatra, Elton 262 PALAIS DE CRISTAL FRANCAIS
and blood-circulation systems. The company John, Charles Trenet and many more. Still a FRANCE : PARIS. Part de Fondateur de
operated a casino, theatre and opera-house. strong symbol of French and Parisian life F2000. black. No 156. Central fold and
Many of the 'thermes' pieces are very today. Very few Folies-Bergère pieces have remains of old-style tape stuck on the front
attractive; this is surely one of the prettiest ever been seen and this issue, from the left border (top and bottom, outside the
of them. company operating the venue from 1877 printed text).
10 July 1870 VF EUR 90 onwards is new to us. Sorry, gentlemen, but This company had the ambition to build a
not illustrated. gigantic crystal palace in the park of St.
1877 VF EUR 500 Cloud (following the 1851 London Crystal
Palace). Although we have seen sketches,
gravures and plans of the French Crystal
Palace, it seems there were insufficient
means to actually get beyond the planning
stage.
On the site, Saint Cloud, 10 km west of Paris,
stood until 1870 a Royal Palace (inhabited by
e.g. Marie Antoinette, Napoleon Bonaparte
and Napoleon III). During the French-
Prussian war, the German army occupied the
castle and used its high position to bombard
Paris. The Royal Castle was destroyed by
260 PANORAMAS NATIONAUX, CIE. GEN.
French counter fire. After that, the site
FRANCE : PARIS. Bon de F100. black on blue
became a park (Domaine nationale de Saint-
paper. #7500. No 2068. Folds. Alternative
Cloud), which it still is today. First time we
name as indicated on the certificate is
see an issued share of this company. The lot
Panoramas Marigny. The building, situated
includes several letters regarding the share
near the junction of the Champs Elysées and
issue.
the Avenue Marigny, was originally built for
27 October 1882 VF EUR 200
the display of a panorama, which opened in
1883. The panorama was converted to the
Théâtre Marigny in 1894 and become a
home to operetta and other musical theatre.
The panorama on display was built by
Charles Garnier. In 1885, it was replaced by
dioramas on Paris through the ages and on
Jerusalem on the day of the death of Christ.
The theatre is still operating today, and is
owned by François Pinault (Artemis Group).
27 October 1882 VF EUR 100
258 MARCHES AUX CHEVAUX ET AUX
FOURRAGES DE PARIS, S.A. DES
FRANCE : PARIS. Titre Provisoire d'une Action
de F500. black on blue paper. No 2677.
Formed to acquire the concession to build a
horse- and forage-market for Paris. The
market was in Paris XIXème, between blds
Serrurier and de Mexico, and rues 263 JEU DE PAUME, SOC. CIVILE DU
d'Hautpoul, Compans and de Bellevue. This FRANCE : 64 PYR.-ATLANTIQUES. PAU. 1
provisional share is new to us. Action de F250 Nominative. buff, black. No
15 April 1875 EF EUR 100 40. Folds and a few small stains. The game
"Paume" has been played for 1000 years,
initially bare-handed or with a leather glove,
but later with rackets, and is the ancestor of
261 PANORAMA MARIGNY, S.A. DU tennis, fistball, pelota, etc. It was very
FRANCE : PARIS. Action de F500. black, buff. popular in Paris; it 1397 play was forbidden
#2600. No 265. Large water stain at the except for Sundays, as workers abandoned
center part of the share. Folds. See previous their work and families to play. Being French,
lot. Successor company. Not seen before by the ban was ignored. By 1657, 114 salles
us. were counted in Paris alone. The château of
15 July 1884 F-VF EUR 100 Versailles had one, which, in 1789, was the
scene of a very important event in the
259 THEATRE DES FOLIES-BERGERE, SOC. DU French Revolution, when the various estates
- LEON SARI & CIE. agreed to unite for a constitution. It was an
FRANCE : PARIS. Part de Capital de F500. Olympic Sport in 1908, London. Today the
green, black. #3000. No 870. Pin-holes at the game is played in 35 countries and it has the
left. Famous Paris cabaret music hall, est. oldest ongoing annual world championship
1869. The house was at the height of its in sport, first established over 250 years ago.
fame from the 1890s' Belle Époque through We offer a previously unseen share form a
the 1920s Années follies. Performers Paume club located in Pau, capital of the
included Josephine Baker, Charlie Chaplin, Pyrénées-Atlantiques département.
1 March 1888 VF EUR 200

29
artist. His career is closely linked with that of Unusual, extremely rare and pretty piece.
Sarah Bernkardt, the great French actress. 31 January 1905 VF-EF EUR 200
Bernhardt gave Mucha contracts for posters,
costumes, calendars and menus, and his
fame spread. He became a leader of the
sinuous flowery style, known as Art
Nouveau, or Jugendstil, using fine and
delicate colours. He showed a great variety
of ideas and a vivid imagination, and could
adapt these to a very wide range of
commercial work, including a small number
264 TROTTING-CLUB DE PARIS S.A. of share certificates. This share design shows
FRANCE : PARIS. Part de F1000 Nominative. 5 women symbolizing commerce, industry,
brown. No 27. Several folds and a little edge- farming and science.
damage on the left border (not in the Unlike the more common issued bonds of
printed part of the share). Formed 1889. this company, we offer here a scarce printer
Trotting is a popular form of racing in France, proof share in excellent condition and
and one vignette shows a trotting-horse. The without any stamps spoiling the beauty of
others show the horses being led. Rare the piece.
theme for a French piece. Only 30 shares 1924 EF EUR 500
issued and this share has not been seen
before by us.
9 March 1889 VF EUR 200
265 BAINS LILLOIS, S.A. DES - ECOLE DE
NATATION A EAU CHAUDE D'HIVER & D'ETE
FRANCE : 59 NORD. LILLE. Action de F500.
brown, green. #300. No 79. Decorative
border, with the arms of Lille. The baths
were probably on the Blvd de la Liberté, 270 ACADEMIE DE BILLARD LYONNAISE, S.A.
267 IMMOBILIERE SALONAISE, SOC.
no.219. FRANCE : 69 RHONE. LYON. Action de F100.
FRANCE : SALON. Action de F250. brown,
June 1890 VF EUR 40 black. #440. No 56. Central fold. Long format brown, green. #1000. No 826. Decorative
pretty piece, with fine houses in Salon, and border of rosettes, and underprint of 4
very amusing little angels at various pictures of people playing billiards. Unusual
activities. Was it Salon (Aube) or Salon theme, and rare piece.
(Dordogne)? 1 December 1902 EF EUR 200
24 May 1894 VF EUR 60

271 J. JOUCLA, PLAQUES, PELLICULES &


PAPIERS PHOTOGRAPHIQUES
FRANCE : PARIS. Action de F100. olive, black.
#15000. No 5148. Central fold. Cut to
bottom border. Very attractive piece with
266 PARIS-FRANCE S.A. Jugendstil-elements and vignettes of
FRANCE : PARIS. Action "A" de F500, printer photographical material, two ladies and the
proof. brown, yellow. #240000. One fold. 268 PALAIS-SPORT S.A.
portrait of Daguerre. Louis Daguerre (1789-
Company formed in 1898 to establish a shop FRANCE : PARIS. 1 Part de Fondateur. pink,
1851) invented the diorama in 1822.
in Paris to sell clothing and novelties for black. #5000. No 4554. Decorative border.
Together with Nicéphore Niepce, he was one
ladies, gentlemen and children, luxury and The company operated a cycling track on the
of the big photo-pioneers. This company
fantasy goods, specialties of Paris, travel Rue de Berri. Also sold bicycles and
produced amongst others photo plates and
goods, furnishings, food products, etc. all in organized horse races. According to a
photographic paper.
a high-quality range. It also sold similar contemporary poster, cycling was the main
10 January 1902 VF EUR 100
goods wholesale. Later it established many activity.
branches in provincial cities throughout 2 January 1895 EF EUR 120
France, under different names (e.g. Trois 269 CIMETIERE POUR CHIENS ET AUTRES
Quartiers, Dames de France), and had an ANIMAUX DOMESTIQUES, SOC. FR.
interest in other shops of a similar quality. FRANCE : PARIS. Part de Fondateur. green,
The company finally closed down in the late black. No 213. Folds. The only pets' cemetery
1980s. share we have ever seen! Vignettes of dogs
The design of this shares is by Alphonse looking unhappy (as they would do in the
Mucha (1860-1939), the well-known Czech circumstances), and the cemetery gates.

30
272 VELO-CLUB-MACONNAIS limestone caves, especially the famous Action de F500. orange, black. #260. No 12.
FRANCE : 71 SAONE-ET-LOIRE. MACON. Part Gouffre de Padirac or Padirac Cave. Vignette of coat-of-arms of Toulouse and of
de Fondateur. black. No 52. Small format, 31 January 1913 EF EUR 50 an advertising kiosk. Small issue.
with folds. A cycling club founded 1889 but 6 August 1922 EF EUR 50
issuing this founder share in 1907. Mâcon is
a city in central France, in the region of
Bourgogne.
1 February 1907 VF EUR 50

273 GALERIES DES MARTYRS S.A., SOC.


NOUVELLE DES 276 ETUDES DE LA VALLEE DE
280 LA RUCHE MERIDIONALE S.A.
FRANCE : PARIS. Action de F100, specimen. CHAUDEFOUR, SOC. D' - MONTS
D'ALIMENTATION
purple, yellow. #5000. Folds. Fine D'AUVERGNE MASSIF DU SANCY
FRANCE : 47 LOT-ET-GARONNE. AGEN.
Jugendstil/Art Nouveau border of leaves, FRANCE : 63 PUY DE DOME. PARIS. Action de
Action de F100. green, olive. #80000. No
but, much better, a view of the company's F100. blue, green. No 1264. The valley is at
76733. Folds. A regional distribution group,
shop, on the rue des Martyrs, selling ladies' 1.200 metres in the Puy-de-Dome, Massif
founded in 1907 in, and based in, Agen (Lot-
clothing, dress materials, perfume, and Central, and is very attractive for hikers and
et-Garonne). Quoted on the bourse from
everything else to delight a lady. lovers of unspoiled nature. This company
1918. The group was bought in 1989 by the
19.. VF EUR 300 was formed to commercialize the two
Compagnie française de l'Afrique occidentale
mineral springs, one hot (a volcanic region)
(CFAO), One year later François Pinault
and one cold. The piece has 8 photo-
bought CFAO, and sold La Ruche méridionale
vignettes of scenes in the valley, set in a
to the Casino group, for 3 billion francs. At
border of mountains and pine-trees. Lovely
that time, La Ruche méridionale had 15
piece, not seen before by us.
hypermarkets L'Univers, over 100
1907 VF EUR 200
supermarkets Sodim et several hundred
277 ATTRACTIONS DE LA RUE EDOUARD-VII
superettes La Ruche. The last hypermarket
FRANCE : PARIS. Action de F1000. blue. #150.
L'Univers disappeared in 1997 at Agen, to
No 27. This theatre was constructed in 1913
take the name Casino. An attractive piece,
and is still operational today.
with vignettes and borders of bees, bee-
16 March 1916 EF EUR 30
hives, a lady with grain giving pollen, grapes
274 LE CYGNE DES LYS, ASSOCATION EN and more, and a view of what we suppose
PARTICIPATION POUR L'EXPLOITATION DES was the company's distribution centre in
PRODUITS Agen.
FRANCE : PARIS. Part Bénéficiaire. red. #250. 2 May 1932 VF-EF EUR 120
No 16. Folds and one small edge-tear outside See also lots 5, 12, 13, 25, 26, 38, 39, 40, 41,
the printed part of the share. Formed Paris, 42, 43, 44, 45, 48, 50, 51, 53, 62, 64, 65, 77,
probably about 1910, with a most attractive 78, 79, 82, 83, 84, 86, 87, 95, 106, 113, 122,
art nouveau/Jugendstil design, of swans, 130, 173, 174, 329, 330, 344, 349, 363, 365,
swimming on lily-ponds, with Mercury and a 416, 475, 476, 479, 496, 515, 566, 567, 573,
beautiful and elegant lady, with an elaborate 578, 579, 591, 598, 599, 600, 611, 612, 621,
border of stylized flowers, typical of the 622, 638, 651.
period. The name is not directly connected GERMANY
with the ballet, which was created in the 281 SUCRERIE DE MEINAU S.A.
1870s, but is clearly intended to give an GERMANY/FRANCE : 67 BAS-RHIN.
image of beauty and elegance. This suggests STRASBOURG. Action Nominative de F5000.
to us that the company sold perfume or black, buff. No 84. Folds with two small,
similar, from its Paris shop, in an elegant 278 COLLEGE DE NORMANDIE, S.A. DU
repaired, splits. Large format share with a
quarter, near the Bourse. FRANCE : 76 SEINE-MARITIME. MONT-
very large vignette of the sugar-factory,
31 May 1911 VF EUR 100 CAUVAIRE. Action de Priorité de F1000.
surrounded by gardens. Pretty border,
275 PALACE-HOTEL ET DE L'EDEN-CASINO brown, green, black. #185. No 7. School
showing sugar-beet plants, farm-tools,
DE MIERS-ALVIGNAC, S.A. DU located near Rouen.
ploughing and sugar-manufacture.
FRANCE : 46 LOT. PARIS. Action de F100. November 1921 VF-EF EUR 50
The sucrerie was at Meinau, now part of the
brown, orange. #3000. No 70. This area has 279 TOULOUSE VIGIE-PUBLICITE S.A.
city of Strasbourg (a little south of the
been very popular with tourists for its FRANCE : 31 HAUTE-GARONNE. TOULOUSE.

31
centre), but at that time was well outside the 282 LÖWENBRAUEREI VORM. PETER Mark. brown, green, black. No 23438. Folds.
city. The share was for F5.000, a very high OVERBEECK, A.-G. Est. 1888 to take over the 1858 founded
value in 1839, and it is likely that very few GERMANY : DORTMUND. Actie über 1000 Firm Janssen & Schmilinsky. This was a
shares were issued. Mark. brown, olive. No 21. Folds. Decorative Hamburg-based shipbuilding company.
In the 17th and 18th centuries the European border and a lion in underprint. Originally Taken over by the Howaldtswerken in 1929.
powers met the demand for sugar from their founded in 1845 in Dortmund. Taken over by November 1921 VF EUR 20
vast sugar-cane plantations in their tropical the Dortmunder Unionsbrauerei in 1920.
colonies. The Napoleonic wars made it 8 January 1887 VF EUR 90
difficult to import sugar into France, and it
became very expensive. The French looked
for another source of sugar - something that
grew easily in France. The white beet was
the answer to the problem, and was grown
extensively during the war, not only in
France but elsewhere in Europe. After 1815
there were attempts to give the trade back
to the tropical countries, but beet-
production was such a fine source of supply
that it continued to expand, and became a
permanent feature of the agriculture of the 283 BURBACH, GEWERKSCHAFT
northern half of Europe. At the date of this GERMANY : SACHSEN-ANHALT.
share, beet-sugar was produced by crushing MAGDEBURG. Kuxschein. green. #1000. No
the beets and boiling them in water. The 596. Large format, central fold, one small
juice mixed with the water, was drained off, edge-tear (repaired). Owned the potassium
and the beet residue used as fuel, animal- mines in the villages Walbeck, Schwanefeld,
food or fertilizer. The juice was refined and Behndorf and Bartelsleben, near Magdeburg.
purified by adding dissolved chalk, blood and 20 July 1896 VF EUR 50
egg-white; the mixture was boiled, the 287 WILHELM KATHE A.-G.
impurities came to the surface, and were GERMANY : SACHSEN-ANHALT. HALLE
scraped off. Finally the boiling liquid A.D.SAALE. Aktie über 1000 Mark.
crystallized out as pure sugar. multicolour. No 18460. Repaired bottom left
The company remained active until at least corner with the original paper being replaced
1843. Extremely early and rare sugar share - all outside the printed part of the share.
(we know of 3 pieces ever been found). The business started in 1921, with the
1839 VF EUR 2.000 objective of creation and manufacture of
pharmaceuticals, and related products. In
1922 it amalgamated with another company,
Th. Franz & Co., in the pharmaceuticals and
food-products trade, and formed this
company. 1923 brought Käthe participation
in the formation of 'Chemischen Fabrik
Passendorf A.G.' in Halle, and other similar
investments followed. However, by 1925 the
company had serious financial difficulties,
and went into liquidation. The factory was
sold to a Netherlands company. One of the
284 AG FÜR TREBERTROCKNUNG IN CASSEL most colourful and attractive of all German
GERMANY : HESSEN. CASSEL. Actie von 1000 shares, with a great red arch surrounded by
Mark. green, brown, black. No 9072. Folds surrealist shapes in yellow and green.
and small piece of paper missing of the 22 December 1922 VF EUR 100
lower right corner (outside the printed part 288 FREISTAAT BAYERN
of the certificate). Formed 1889. Had various GERMANY : BAYERN. MÜNCHEN. 3,50%
patents and machinery for processing the Schuldverschreibung über 5.000M. Serie E.
residue left for brewing beer, which became orange, green, black. No 8504. Folds and one
cattle-food. The company paid out very high small edge-tear. Ornate border and
dividends, but was inefficiently managed and underprint.
this led to its collapse in 1901. Its main 1 December 1922 VF EUR 20
creditor, the Leipziger Bank, was brought 289 GERMAN PROVINCIAL & COMMUNAL
down with the Trebertrocknung Company. BANKS CONS. AGRICULTURAL LOAN
8 February 1898 VF EUR 150 GERMANY : MASSACHUSETTS. BOSTON.
285 VERSICHERUNGSGES. THURINGIA IN 6,5% Sec. Sink. Fund Gold Bond of $1000.
ERFURT Serie A. brown, black. No 5996. Vignette of a
GERMANY : STUTTGART. Versicherungs- lovely lady, with wheat, fruit, beehive. Loan
schein. black. No. 207444. Central fold. 6- raised in Boston, instead of the usual New
page fire insurance policy with vignette of an York. The loan of $25 million was raised
eagle. jointly by 14 regional banks, for varying
13 January 1920 VF EUR 10 amounts; Ostpreussen had the largest share.
286 SCHIFFSWERFTE UND MASCHINEN- Facsimile signature for each bank, and seal
FABRIK (vorm. Janssen & Schmilinsky) AG of each. Coupons 33-60 attached.
GERMANY : HAMBURG. Aktie über 1000 1 June 1928 VF EUR 100

32
operators of luxury liners across the North G.D. LUXEMBOURG
Atlantic before 1939.
July 1932 VF EUR 100

293 SOCIETE DU LUXEMBOURG


G.D.LUXEMBOURG : BRUXELLES. Quittance
Provisoire de Fl.1000 d'une action. black. No
537.
Co. founded 1828 with a capital of 10 million
florins (2000 shares of 5000 florins each).
We offer here a payment receipt of 1000
florins as third (of five) instalment for a
nominative share. Issued to Mr Charles Félix
Schouten from Leuven/Louvain.
According to the company rules (as printed
on the certificate), the purpose of the
company was to explore mines, quarries in
the G.D. de Luxembourg and Namur
(Belgium), but also to construct blast
furnaces, forges, etc. Finally, the company
was also to build roads, bridges and canals to
transport its products.
In practice, the company started the
construction of a 300 km canal between the
rivers Meuse and Mosel, crossing much of
the Grand Duché. This was a project heavily
supported by the Dutch King Willem I (at
that time also King in Belgium and
Luxembourg), hence the King, with 400
shares (and the Belgian Société Générale)
292 REICHSSTAND DES DEUTSCHEN
was a major shareholders in this company.
HANDWERKS
The uncertain political situation following
GERMANY : BERLIN. Obligation 200 RM.
the Belgian Revolution (1830) led to the
green, black. Large format, folds with a few
works being halted (August 1831). The
tiny edge-splits. To increase his grip on the
company closed all activities in 1839. Before
German population, Hitler successfully tried
290 GERMAN GOV. INTERN. LOAN (2 types) that, the company prospectors had
to make as many as possible citizens
GERMANY : BERLIN. brown, buff, black. 1. discovered several interesting mining
member of one of the many Nazi-inspired
Bond for 100 Belgas. 2. Bond for 1000 deposits in the area: coal, salt, manganese,
organizations. One of these was the
Belgas. Text in German, English, French. lead, antimony and copper ore, perhaps
"Reichsstand des Deutschen Handwerks",
Bonds (5,5%) issued 1930 as part of the even silver.
founded 1 October 1933 as the successor of
'Young Plan' for settlement of German loans Extremely early & important piece of
the "Reichsverbandes des Deutschen
in arrears, being issued at 90% of the face history for the collector of scripophily from
Handwerks".
value of the bonds they replaced. By the Luxembourg as this company can be
This organisation united the German
1953 agreement, the German Government considered as the starting point of the
handworkers so that they could be better
agreed to repay all Young bonds (and the country's industrialization.
controlled and directed towards the
earlier Dawes bonds), other than those 22 September 1829 EF EUR 300
production targets set by Hitler. With this
stolen by the Soviets at the end of WW2. bond, the Reichsstand raised money from its
15 August 1930 VF EUR 60 members to finance the purchase of shares
291 HAMBURG-AMERIKANISCHE PACKET- worth 10 Million Reichsmark in the A.G.
FAHRT-AG (HAPAG) Hermann Göring. This A.G. was in effect a
GERMANY : HAMBURG. Aktie über 100 RM. Nazi-controlled conglomerate of iron ore
blue, buff, black. No 422580. A few pin- mining and metallurgical plants founded on
holes. Founded in 1847, as the Hamburg- 15 July 1937. The result of the share
Amerikanische Packetfahrt-AG. In the early purchase would of course be that a) the
part of the century the company had 74 handworkers would be more motivated to
regular routes, spanning the whole world. work hard, not only because they surely 294 C.D.F. GUILLAUME-LUXEMBOURG, S.A.
World War I brought the company enormous wanted the bonds to be repaid, but also ROYALE GRAND'DUCALE DES
losses. In the 1920s took over the because "their" organisation would own (a G.D.LUXEMBOURG : Action de F500. black,
Woermann, Deutsch-Ost-Afrika, Austral- lot of) shares in the factories they work in, buff. #50000. No 37261. Company formed in
Kosmos, and the Deutsch-Levant lines. After and b) the Nazi regime has extra money 1857 (as Luxembourg's first railway) to build
working together since 1930, amalgamation coming in… 4 concessions granted by the government of
in 1970 with Norddeutsche Lloyd (founded 1 September 1938 VF EUR 50 the Grand-Duchy. The lines each started
1857), to give today's Hapag-Lloyd AG. The See also lots 16, 317, 318, 328, 329, 382, from Luxembourg City and went to the
Hamburg-Amerika line was one of the prime 402, 570. French border (Thionville), the Belgian

33
border (Arlon), the Prussian border (Trier) small views of Luxembourg, and arms. The 300 C.D.F. PRINCE HENRI, CO. ROYALE
and to Diekirch, all in all 159 km. Once built, company was controlled by the Société des GRAND-DUCALE
the company made a deal with the French Chemins de Fer des Bassins Houilliers du G.D.LUXEMBOURG : LUXEMBOURG. Action
Co. des chemins de fer de l'Est for the latter Hainaut. The company operated 5 secondary de Jouissance, unissued. brown, olive.
to operate the lines. In 1902, the company railway lines: Ettelbruck-Wasserbillig, Serious damage at right border with fold,
sold its ownership of the lines to the Ettelbruck-Pétange-Lamadelaine-French splits and paper missing.
Kaiserliche Generaldirektion der border, Bettembourg-Athus, Bettembourg- 1873 F EUR 50
Eisenbahnen in Elsaß-Lothringen. Very rare. Remich, and Remich-Oetrange. After WWII,
1859 EF EUR 150 these lines were integrated in the Société
nationale des chemins de fer
luxembourgeois. The 'Soc. Prince Henri' was
liquidated in 1948.
10 November 1873 EF EUR 70

301 LUXEMBURGER SEKUNDÄRBAHNEN AG


G.D.LUXEMBOURG : LUXEMBURG. Actie von
F500. brown, green, black. #4000. No 1621.
295 C.D.F. GUILLAUME-LUXEMBOURG, S.A. Formed in 1882 to build and operate lines
ROYALE GRAND'DUCALE DES Luxembourg-Mondorf-Remich and Cruchten-
G.D.LUXEMBOURG : LUXEMBOURG. Action Larochette (total 41km). Text in German &
de F500. black, buff. #70000. No 19959. See French. The concession was originally, in
previous lot, but this is a second issue during 1880, given to the Schweizerische Locomotif-
the same year, bringing the capital from 25 und Maschinenfabrik, of Winterthur, and
to 50 million francs. The 50 million consists included rights to exploit iron-ore deposits in
of 35 million of shares (of 500 francs each) the area. Signed by E. Lengsdorf and J.J.
and of 15 million in bonds. Schaeppi, directors of the Locomotif
1856 EF EUR 100 company. Extremely rare. Folds and a few
tiny edge-tears.
17 February 1882 VF EUR 200

296 C.D.F. GUILLAUME-LUXEMBOURG, S.A.


ROYALE GRAND'DUCALE DES
G.D.LUXEMBOURG : Obligation de F500.
brown, olive. #11600. No 71341. See 2 302 C.D.F. & MINIERES PRINCE-HENRI, S.A.
previous lots, but this a later bond issue. LUXEMBOURGEOISE DES
Central fold and some edge-tears (repaired). G.D.LUXEMBOURG : LUXEMBOURG. Action
1865 VF EUR 100 de F500. brown, yellow. #75000. No 33349.
299 C.D.F. PRINCE HENRI, CO. ROYALE Central fold. Arms of the Grand-Duchy, also
GRAND-DUCALE Echternach, Esch-sur-Alzette, Diekirch and
G.D.LUXEMBOURG : LUXEMBOURG. Action Wiltz, and mining equipment. Formed in
de Capital de F250, unissued. black. #50000. 1877 to exploit the concession of the Société
Some foxing. Royale Grand-Ducale des Chemins de fer du
10 November 1873 VF EUR 50 Prince-Henri (controlled by Sté des Chemins
de fer des Bassins Houillers d'Hainaut). Rail
network, connecting the coal and iron-ore
mines - 193km long.
1 February 1913 VF EUR 100
303 HAUTS-FOURNEAUX DE DIFFERDANGE
297 C.D.F. GUILLAUME-LUXEMBOURG, S.A. G.D.LUXEMBOURG : DIFFERDANGE. Action
ROYALE GRAND'DUCALE DES de F500. red, green. #18000. No 12257.
G.D.LUXEMBOURG : Action de Jouissance, Baron Alexandre de Gerlache, who owned a
unissued. red. Probably a printer proof. We château and mining concessions at
have never seen this profit share issued. Differdange, south of Luxembourg, formed
Generally somewhat worn condition. this company. The first blast-furnace started
1903 VF EUR 100 producing in 1897. In 1898 the state granted
298 C.D.F. PRINCE HENRI, CO. ROYALE two mining concessions to the company, at
GRAND-DUCALE Rumelange and Differdange. Acquired by
G.D.LUXEMBOURG : LUXEMBOURG. Action ARBED in 1967. Signed facsimile by Baron de
de Capital de F250. black, buff. #50000. No Gerlache. Rare piece.
8831. Very decorative border, with several 20 September 1898 VF EUR 150

34
308 HAUTS FOURNEAUX ET ACIERIES DE
RUMELANGE-SAINT INGBERT, S.A. DES
G.D.LUXEMBOURG : RUMELANGE. Action de
F500, unissued. olive, orange. #15000. See
previous lot, but this is scarce unissued
share, perhaps a printer proof.
15 June 1906 VF EUR 150

306 UNION DES ACIERIES S.A. - ACIERIES DE


CHARLEROI ET LUXEMBOURG
G.D.LUXEMBOURG : HAINAUT. MARCINELLE.
Action de F500. green, buff. #6000. No 5157.
Folds. Est. 1887 as the Aciéries de Charleroi.
Co-founder in 1898 of the Aciéries et Ateliers
de Luxembourg. Extremely rare share with
underprint of a lion.
18 January 1906 VF EUR 100

309 ACIERIES REUNIES DE BURBACH-EICH-


DUDELANGE S.A. (ARBED)
G.D.LUXEMBOURG : DUDELANGE. Part
Sociale. yellow, black. No 8211. Folds and
slight edge-damage. Several vignettes of the
Arbed works in the south of Luxembourg,
and views of the pouring and rolling
processes. Arbed was formed in 1882, under
304 USINES ET FONDERIES DE RODANGE the name Hauts-Fourneaux et Forges de
S.A. (2 types) Dudelange, and in 1911 took this name, after
G.D.LUXEMBOURG : RODANGE. 1. Part de fusion with S.A. des Mines du Luxembourg et
Fondateur, red. 2. Action de Capital de F100, Forges de Sarrebruck, and the Soc. des
307 HAUTS FOURNEAUX ET ACIERIES DE Forges d'Eich. After fusion, the capital was
green. Founded 1899 by, amongst others,
RUMELANGE-SAINT INGBERT, S.A. DES reorganised into 89.300 parts sociales. Very
the S.A. des Hauts-Fourneaux de Rodange
G.D.LUXEMBOURG : RUMELANGE. Action de few of these first-issue shares have survived
with a capital of 2 million francs. Taken over
F500. olive, orange. #15000. No 6545. The so this piece is rare and of historical
in 1908 by the Usine de Rodange. Closed
company owned blast-furnaces and steel- importance.
1978.
works, which later became part of the giant 1 March 1912 VF EUR 200
1899 EF EUR 60
Arbed combine. Stamps on the face. Like all
of the pre-Arbed companies, this has
become difficult to find. Formed 1905 to
amalgamate the blast-furnaces of
Rumelange, property of S.A. des Mines et
Hauts Fourneaux de Differdange, with those
of St.Ingbert, belonging to the Sté Eisenwerk
Kraemer. Liquidated 1921. Coupons taped
on the right border of the share.
15 June 1906 VF EUR 100

305 ACIERIES ET ATELIERS DE LUXEMBOURG


G.D.LUXEMBOURG : LUXEMBOURG. Action 310 ACIERIES REUNIES DE BURBACH-EICH-
de F500. pink, green. #3000. No 68. Formed DUDELANGE S.A. (ARBED)
1898. Owned factories at Hollerich, G.D.LUXEMBOURG : LUXEMBOURG. Part
Luxembourg. Liquidated 1904; the assets, Sociale. yellow, black. #100000. No 97124.
with the Marcinelle plant of the Société des See previous lot. This piece is from the 1919
Aciéries de Charleroi, formed the Union des capital increase. Heavy folds and a few pin-
Aciéries à Marcinelle, in 1905. Closed 1978. holes.
1 February 1899 EF EUR 50 1 December 1919 VF EUR 150

35
313 ACIERIES REUNIES DE BURBACH-EICH- 317 ACIERIES REUNIES DE BURBACH-EICH-
DUDELANGE S.A. (ARBED) DUDELANGE S.A. (ARBED)
G.D.LUXEMBOURG : LUXEMBOURG. Part G.D.LUXEMBOURG : LUXEMBOURG. Part
Sociale. brown, black, yellow. #250000. No Sociale. brown, buff, black. No 1128562. See
44725. Large vignette of a steelworks. High- previous 2 lots, but by now, the company
quality printing by Waterlow, London. See capital has risen to 18,2 billion francs.
previous lots. Arbed is today part of the 1984 EF EUR 50
ArcelorMittal, currently the world's biggest
steel manufacturer. Not to be confused with
the similar looking, but of much smaller
format, later issues.
1946 VF EUR 400

311 ACIERIES REUNIES DE BURBACH-EICH-


DUDELANGE S.A. (ARBED) 318 ACIERIES REUNIES DE BURBACH-EICH-
G.D.LUXEMBOURG : LUXEMBOURG. Part DUDELANGE S.A. (ARBED)
Sociale. yellow, black. #156000. No 137470. G.D.LUXEMBOURG : LUXEMBOURG. 10 Parts
See previous lots. This piece is from the Sociales. brown, buff, black. No 12227081-
capital increase of 1922. Several edge-tears 90. See previous 3 lots, but this is a 10-share
(repaired). certificate. The company capital in 1994 was
1 August 1922 VF EUR 150 +21 billion francs.
1994 VF-EF EUR 70

314 ACIERIES REUNIES DE BURBACH-EICH-


DUDELANGE S.A. (ARBED)
G.D.LUXEMBOURG : LUXEMBOURG. Part
Sociale, specimen. brown, yellow, black.
#250000. A Waterlow specimen, in excellent
condition.
1952 EF EUR 200

312 ACIERIES REUNIES DE BURBACH-EICH-


DUDELANGE S.A. (ARBED)
G.D.LUXEMBOURG : LUXEMBOURG. Part
319 LUXEMBURGER PULFERFABRIKEN AG
Sociale. yellow, black. #200000. No 179575.
G.D.LUXEMBOURG : KOCKELSCHEUER. Part
See previous lots. This piece is from the
Sociale. brown, buff. #6000. No 4739.
following capital increase.
Formed in 1906 to manufacture all types of
1 August 1924 VF-EF EUR 150
powder and explosives. The main clients
315 ACIERIES REUNIES DE BURBACH-EICH- were doubtless the mining companies. The
DUDELANGE S.A. (ARBED) works was at Kockelscheuer-lez-
G.D.LUXEMBOURG : LUXEMBOURG. Part Luxembourg, and was one of the first
Sociale. brown, black, yellow. #1500000. No industrial undertakings in the country to
532883. Same design as previous two lots, become a S.A. Border of flowers. Extremely
but of later date and much smaller format. rare.
The company capital at this point, 1963, 1 September 1913 VF EUR 200
amounted to 5 billion francs. Printed by 320 HAUTS-FOURNEAUX ET ACIERIES DE
Oldenburg in Munich. STEINFORT, S.A. DES
1963 EF EUR 50 G.D.LUXEMBOURG : STEINFORT. Action de
316 ACIERIES REUNIES DE BURBACH-EICH- F500, specimen. blue, green. #20000. Folds.
DUDELANGE S.A. (ARBED) The company, with steelworks on the
G.D.LUXEMBOURG : LUXEMBOURG. Part Luxembourg/Belgian border, was formed
Sociale. brown, black, yellow. #1800000. No originally in 1912, to take over the forge
1646163. See previous lot, but a new issue, business of J.Collart & Cie.
bringing the capital to 6 billion francs. The Collart family operated forges at
1966 EF EUR 50 Steinfort since the beginning of the 19th
century, or even earlier. The Collarts, of the

36
Château de Dommeldange, stayed on the #160000. No 56973. See previous lot, but enameled goods. Border vignettes of
board of directors. This company came this is a bond, part of an 80 million francs hammers and other metal-working tools.
under the control of the Sté Metallurgique loan. The factory was at Lintgen, route de Mersch.
de la Loire, in 1919. In 1921 the shares were 2 July 1920 VF-EF EUR 100 Issued to Aug. Nilles, one of the founders of
passed to the S.A. d'Athus-Guvignés. This the firm and signed by him.
merged with the S.A. des Acieries d'Angleur 16 May 1923 EF EUR 50
et des Charbonnages Belges to form the S.A.
d'Angleur Athus. In this way it became part
of Cockerill until it Steinfort operations
closed in 1964.
18 July 1916 VF EUR 100

326 FONDERIE DE LUXEMBOURG S.A.


G.D.LUXEMBOURG : WEIMERSKIRCH. Action
de F500. blue, orange. #642. No 207. Formed
1925 to acquire an existing smelter at Eich-
lès-Luxembourg. Company liquidated in
1999. Faintly stained but otherwise in good
condition.
26 April 1926 VF EUR 50

324 HAUTS-FOURNEAUX ET ACIERIES DE


321 METALLURGIQUE DES TERRES ROUGES DIFFERDANGE ST.INGBERT RUMELANGE
G.D.LUXEMBOURG : LUXEMBOURG. 5% G.D.LUXEMBOURG : LUXEMBOURG. Action.
Obligation de F500, specimen. brown, buff, purple, black. #220000. No 111422. See
black. #200000. Folds and punch-holes. previous lots. This is a later share issue, with
Founded 1919 with Luxemburg, Belgian and a capital of 1,1 billion francs (in 1920: 110
French capital to take over the Luxemburg- million francs).
and Aachen-based factories and mines of the 3 June 1957 VF EUR 100
Rhein-Elbe-Gelsenkirchener Bergwerks A.G. 327 EMAILUX S.A.
The first President was Eugène Schneider of G.D.LUXEMBOURG : LINTGEN. Action de
the French Schneider conglomerate, but also F1000. orange, yellow. #1250. No 829. Pretty
ARBED was an important shareholder and piece, with vignettes of tools. This company
merged into the latter in 1937. was the successor to Fonderie Nilles and
4 December 1919 VF EUR 200 manufactured cookers, stoves and other
322 HAUTS-FOURNEAUX ET ACIERIES DE enameled goods. With border vignettes of
DIFFERDANGE ST.INGBERT-RUMELANGE hammers and other metal-working tools.
G.D.LUXEMBOURG : LUXEMBOURG. Action The factory was at Lintgen, route de Mersch
de F1000. purple, black. #110000. No 73362. and the Co. had a shop in Luxembourg City.
Generally somewhat worn condition. 19 February 1924 EF EUR 50
Company formed in 1920 to take over the 328 RHEINELBE UNION DEUTSCH-LUXEMB.
assets in Luxembourg, Lorraine & Saarland of BERGWERKS-UND HÜTTEN A.G.
the Deutsch-Luxemburgische Bergwerks- G.D.LUXEMBOURG : GELSENKIRCHEN. 7%
und Hütten-A.G. and the Société de Mortgage Gold Bond of $1000. orange,
Rumelange-St.Ingbert. Became part of Arbed black. No 4914. The Rheinelbe Union
in 1967. regrouped the Gelsenkirchener Bergwerks-
16 February 1920 F-VF EUR 20 325 FONDERIE NILLES S.A.
A.G., the Deutsch-Luxemburgische
323 HAUTS-FOURNEAUX ET ACIERIES DE G.D.LUXEMBOURG : LINTGEN. Obligation
Bergwerks-und-Hütten-A.G. and the
DIFFERDANGE ST.INGBERT-RUMELANGE Nominative de F500. brown, olive. #155. No
Bochumer Verein für Bergbau und
G.D.LUXEMBOURG : LUXEMBOURG. 5% 109. Only 155 issued. This company
Gußstahlfabrikation. In 1926, it issued this
Obligation de F500. green, orange, black. manufactured cookers, stoves and other
$25 Mio. loan in New York. The Deutsch-

37
Luxemburgischen A.G. was founded in 1901 Holdings in various mining companies, proceeds of the loan were for "the service of
to take over the Differdinger Hochofen especially Portuguese. the war".
A.G./S.A. des Hauts Fourneaux de 1952 EF EUR 20 Hand signed by Sir Robert Howard (1626-
Differdange and the Bochumer Zeche 1698) as Secretary to the Treasury and
Dannenbaum AG. Allegorical vignette of 3 auditor of the Exchequer. He helped to bring
miners. Printed by American Bank Note Co. William of Orange to the throne and as
Uncancelled. instrumental in establishing the newly
1 January 1926 VF-EF EUR 200 founded Bank of England while continuing
his work on currency reform which led to the
great re-coinage of 1696 "giving England the
strongest currency in Europe as quoted on
the financial market in Antwerp". On reverse
also signed by Josiah Diston (1667-1737),
director of the Bank of England and its
deputy governor (1721-3). He was also
director of the East India Co. Also signed by
Joseph Morewood, a noted merchant in
London. A very early, scarce and interesting
English government bond.
25 June 1697 VF EUR 1.500
332 HAUTS-FOURNEAUX ET ACIERIES DE
STEINFORT, S.A. DES (3 types)
G.D.LUXEMBOURG : STEINFORT. 1. 4,75%
Obligation de F1000, 1950, brown-red. 2.
Action, 1955. 3. 4,75% Obligation de F1000,
1956, blue. See lot 320. The capital and
interest on these bonds were guaranteed by
S.A. John Cockerill.
1950-1956 EF EUR 300
329 INTERMINES S.A., SOC. D'INTERETS
333 COMICHIM S.A., CIE. POUR L'INDUSTRIE
MINIERS EN EUROPE CENTRALE
MINIERE ET CHIMIQUE
G.D.LUXEMBOURG : LUXEMBOURG. Action
G.D.LUXEMBOURG : LUXEMBOURG. Action
de Capital de F100. blue, green. No 6598.
de F1000. green, yellow, black. #60000. No
The company owned the entire share capital
54438. Formed to participate in companies
of the Sächsisch-Böhmische Zinnbergbau AG,
in the fields of metals, minerals, mineral and
of Bad Elster (Sachsen). Share expressed in
chemical products. Printed in Brussels.
French francs.
1960 EF EUR 20
15 April 1931 EF EUR 20
334 SOFICOMIN S.A. HOLDING
G.D.LUXEMBOURG : LUXEMBOURG. Action
de F1000. red. #30000. No 1898. Founded
1968 as Société financière pour le commerce
et l'industrie.
28 February 1969 VF-EF EUR 20 337 GRAND SURREY CANAL
335 METALLURGIQUE ET MINIERE DE GREAT BRITAIN : LONDON. Transfer of 4
RODANGE-ATHUS S.A. (2 types) Shares - a transaction of £460. black on
G.D.LUXEMBOURG : RODANGE. 1. 10 Actions vellum. No 518. Folds. Est. by an Act of
Ordinaires, 1973. 2. Action, 1975. 1945 saw a Parliament on 21 May 1801 with the power
fusion of the S.A. Angleur-Athus with S.A. to raise £60,000 by issuing shares, and an
John Cockerill. In 1973 Cockerill ceded its additional £30,000 if required. The Grand
Athus division to Métallurgique et Minière Surrey canal was constructed in south
de Rodange and the name was changed to London between 1801 and 1826, starting at
Métallurgique et Minière de Rodange-Athus. the Thames. Its main purpose was to bring
In 1978 Arbed becomes a major shareholder. transport cargo, primarily timber to the
1973, 1975 UNC EUR 30 Surrey Commercial Docks. It closed
330 MINIERE ET METALLURGIQUE DE See also lot 166. progressively from the 1940s to the 1970s.
RODANGE S.A. GREAT BRITAIN First time we see scripophily from this canal
G.D.LUXEMBOURG : RODANGE. Action 336 EXCHEQUER LOAN company.
Privilégiée de F1000. red, yellow, black. GREAT BRITAIN : 8% Bearer Bond for £5. 31 October 1812 VF-EF EUR 200
#100000. No 5877. The company owned 7 black. No 91199. Two small pin-holes and 338 LONDON AND MANCHESTER
coal-mines, not only in Luxembourg but in folds. Embossed seal. EQUITABLE LOAN CO.
Saulnes and Hussigny (France), and Athus Loan issued by Act of Parliament in the VIII GREAT BRITAIN : Cert. of 5 Shares. black. No
and Aubange (Belgium), and also blast- year of Reign of King William III (in the 391-95. This bank was founded with a capital
furnaces, steelworks and rolling-mills in the Netherlands known as King William of of £500,000 and was considered one of
Rodange area. Orange), being 1697. This was at the end of many bubble companies founded just before
1 October 1936 VF EUR 50 the Nine Years' War, also known as the War the Panic of 1825 - leading amongst others
331 SOFIMINES, SOCIETE FINANIERE DES of the League of Augsburg between France to the closing of 6 London banks and 60
MINES S.A. HOLDING and a European-wide coalition led by William country banks in England.
G.D.LUXEMBOURG : LUXEMBOURG. Part III. The Treaty of Ryswick (20 September 12 February 1825 EF EUR 200
Sociale. red, black. #32000. No 6850. 1697) ended the War. The bond specifies the

38
(which flows into the English Channel), giving Lovely vignette of company seal showing the
a short route from the Thames to the factory and the landscape of South Wales.
Channel. The canal exists today, for pleasure Founded 1850 and taken over by the
use only. Fine large printed seal of the Pontypridd Gas Co. in 1893.
company, with coats-of-arms, and red wax 12 April 1852 VF-EF EUR 50
wafer seal, in good condition. One of the
most attractive of English canal pieces.
17 December 1831 EF EUR 100

341 HULL AND SELBY RAILWAY CO. (2 types)


GREAT BRITAIN : 1. Cert. of £12.10 Share,
black. 2. Cert. of £25 or half Share, blue.
Arms of the two towns. Left side trimmed
into print, as usual for these certs. The line 344 OMNIBUS DE LONDRES, CIE. GENERALE
339 ALLIANCE BRITISH & FOREIGN LIFE & GREAT BRITAIN : PARIS. Action de F100=£4,
opened in 1840, connecting Hull with the
FIRE ASSURANCE CO. unissued. Serie 1. blue, black. #200000. The
Leeds and Selby Railway. Leased to George
GREAT BRITAIN : LONDON. Transfer company was formed in Paris in 1851, but
Hudson's York and North Midland Railway in
indenture of 40 Shares. black. Folds and one became an English company in 1856. It
1845 and taken over by the North Eastern
repaired tear. With this certificate, Lionel bought out most of the other London bus
Railway in 1854.
Rothschild purchases from Richard Holbert businesses, and drove another competitor
1845 VF EUR 80
Smales 40 shares of the Alliance British and off the road. The share is splendid, with a
Foreign Life and Fire Assurance Co. It cost wide border of the best-known sights of
him £300. Both buyer and seller signed, but London, all named, and the British arms in
in case of the purchaser, another member of the underprint. The border showing the
the Rothschild family signed for Lionel sights reminds us of the paper of Omnibus
Rothschild. The company was formed in de Paris, formed at the same time. The less
London in 1824 by Nathan Rothschild and decorative shares of the English company
Moses Montefiore. The company is now part are better-known. At its height the English
of the Royal & Sun Alliance Insurance Group. company owned 1300 vehicles and 17,000
11 January 1832 VF EUR 200 horses, and carried 96.000.000 passengers
per year. A magnificent piece important to
the history of London public transport.
Scarce printer proof (no issued pieces are
known to us).
1855 VF-EF EUR 500

342 STOCKTON & DARLINGTON RAILWAY


GREAT BRITAIN : Debenture, unissued. black.
Fold. Famous pioneer railway company. This
bond was previously unknown to us, issued
or unissued. The proceeds were to be used
to alter the railway line in the parishes of
Egglescliffe and Stockton-on-Tees and to 345 LONDON BRIDGE RAILWAYS TERMINUS
increase the capital, and to invest in the HOTEL CO. LTD
340 WEY & ARUN JUNCTION CANAL CO. Middleborough Dock. GREAT BRITAIN : LONDON. Share of £5.
GREAT BRITAIN : SURREY. GUILDFORD. 1 1852 VF-EF EUR 200 black. #20000. No 5811. Fine vignette of the
Share. black. No 897. Formed in 1813 to 343 PONTYPRIDD GAS LIGHT AND COKE CO. hotel and street-scene. The hotel is no
build a canal linking the river Wey (a
GREAT BRITAIN : WALES. PONTYPRIDD. longer there.
tributary of the Thames) to the river Arun Share of £10. black on blue paper. No 408. 1 February 1860 VF-EF EUR 50

39
351 YORKSHIRE INSURANCE CO. LTD. 354 WAR LOAN
GREAT BRITAIN : Fire Policy. black, green. No GREAT BRITAIN : LONDON. 3,5% Bond of
2649450. Large underprint (in green) of the £100. Serie B. brown, black. No 286252.
magnificent York cathedral. Printed seal of "The Lords Commissioners of
15 February 1922 EF EUR 10 his Majesty's Treasury' and printed signature
352 NORTHOLT PARK RACECOURSE LTD. of N.V. Warren Fisher who signed the Bank
GREAT BRITAIN : Cert. of 50 Ordinary Shares of England Banknotes at that time.
of £1. red. No 54. The racecourse opened in In 1917, to finance the cost of WWI, the
1929 as the national centre for a new type of British government floated a huge bond
horse racing - pony racing, or trotting. The issue, the so-called 5% War Loan. It was
1,5 mile racecourse, located on the west side scheduled for repayment in 1947, although it
of London, was the brainchild of Sir William could be prepaid any time after June 1, 1929.
346 YNISARWED RESOLVEN COLLIERY CO. Bass and Viscount Lascelles. The Empire Cup By 1932, due to the Depression, government
GREAT BRITAIN : Share of £25. black. #2000. was run here each year and was televised revenues were low. Just the interest on this
No 1505. Folds. Vignette of a coal cart. This from 1938 onwards. The racecourse was single bond issue absorbed 40% of all the
Welsh coalmine was already working in the requisitioned for military use during World money collected from income tax. In late
1840s. This company was founded in 1867 War II. Soon afterwards, the complex was 1931 there was a run on the pound. Soon
and remained in business until 1875. demolished to make way for housing. Its after, the Bank of England injected immense
Reopened by Ynysarwed Colliery Co. in 1906 seating was re-erected at Brands Hatch amounts of liquidity into the banking system.
and final closure in 1955. motor racing circuit in 1955. First time in our As a result, interest rates for loans fell to 2%.
1 May 1873 VF-EF EUR 50 auctions. In June 1932 Chancellor of the Exchequer
347 BEACONSFIELD CLUB 16 November 1927 EF EUR 20 Neville Chamberlain announced a conversion
GREAT BRITAIN : LONDON. Debenture of offer for the entire 5% Loan into this new
£100. black. #300. No 4. A London issue without any specific maturity (so in
gentlemen's club, est. 1880 and disbanded effect a perpetual bond) - it was announced
circa 1887-8. The club was formally linked to as a matter of patriotic duty. In the end 98%
the Conservative party. Named in honour of of the War Loan holders accepted the
Benjamin Disraeli, 1st Earl of Beaconsfield. conversion. The bond we offer is cancelled.
April 1883 EF EUR 40 1 December 1932 EF EUR 150
348 LEGAL & COMMERCIAL INSURANCE
CO., LTD.
GREAT BRITAIN : LEEDS. Cert. of 10 Shares of
£1. black. No 41. Folds. First time we see
scripophily from this insurance company. 353 DAILY MAIL TRUST, LTD
The company capital amounted to £250,000. GREAT BRITAIN : Cert. of 6 Ordinary Shares
Located in Park Row, Leeds. of £1. blue, green. No 27443. The Daily Mail
29 April 1908 VF EUR 20 newspaper was launched in 1896 by Harold
and Alfred Harmsworth as a mid-market 355 STROUDWATER NAVIGATION
national newspaper. It was incorporated in GREAT BRITAIN : Share. black on blue paper.
1922 and became first listed on the London No 22. Folds. Pen-cancelled. The
Stock exchange in 1932 - the year this Stroudwater Navigation is a canal linking
certificate is issued. Today, the Daily Mail Stroud to the Severn Estuary in England and
and General Trust plc. is one of Europe's Wales. It was authorised in 1776 and opened
largest media conglomerates with interests in 1779. The company continued to pay
in national and regional newspapers, dividends until 1922, and was not finally
television and radio. The company also has abandoned until 1954. The Company of
extensive activities outside the UK. Its Proprietors however, was not disbanded,
flagship product, the Daily Mail newspaper, and the canal company continued to
sells more than 2 million copies per issue, generate income for many years through the
349 CONTINENTAL AND COLONIAL giving it the 12th highest circulation of any sale of water and some monies produced by
EXPLOSIVES LTD newspaper in the world. First time we see property holdings. In 2001, the Cotswold
GREAT BRITAIN : LONDON. 5 Shares of £1. scripophily of this company. Canals Partnership was established, amongst
brown, black. No 6331. Large format with 25 November 1932 VF EUR 200 others representing the shareholders in the
fold. Text in English and French. Printed in original company.
Paris. Production facilities for explosives in 16 March 1949 VF EUR 50
the London area, but also in Lisbon, Portugal.
First time we offer scripophily from this
company.
27 March 1912 EF EUR 100
350 SNOWDOWN COLLIERY, LTD
GREAT BRITAIN : Founders' Share of 1
Shilling. green. No 697. Folds. Attractive
vignette of a coal mine (above ground). Est.
1908 with a capital of £251,250 and
liquidated 1925. The mine was in Kent, 9
miles from Dover. After approx. 10 years, 356 PENINSULAR & ORIENTAL STEAM
about half a million ton of coal had been NAVIGATION CO.
won. GREAT BRITAIN : LONDON. £11 of Deferred
3 July 1913 VF EUR 30 Stock. black. No 77606. Best known as P&O.
Its routes go back to 1822 when Brodie

40
McGhie Willcox, a London ship broker, set up records that in his time the tailings were 361 BUDAPEST-NEUPEST-RAKOSPALOTAER
a shipping line between England and Spain being worked over, and Pausanias speaks of ELEKTRISCHE STRASSENBAHN AG (2 types)
and Portugal. In 1837, the then-called the mines as a thing of the past. The ancient HUNGARY : BUDAPEST. 1. Actie über 200
Peninsular Steam Navigation Co. won a workings, consisting of shafts and galleries Kronen, 1917. 2. Genuss-Schein, 1929.
contract to deliver mail to the Iberian for excavating the ore, and washing tables Founded 1894 to operate a 42km tramway
Peninsula, and in 1840 they acquired a for concentrating the ore, may still be seen network.
contract to deliver mail to Alexandria, Egypt. at many locations. There were well 1917+1929 VF EUR 50
The present company, Peninsular and engineered tanks and reservoirs to collect 362 DR. JUST GLÜHLAMPEN UND
Oriental Steam Navigation Co. was rainwater for washing the ore since ELECTRICITAETS FABRIK AG
incorporated in that year by Royal Charter. abundant supplies from streams or rivers HUNGARY : BUDAPEST. 25 Aktien zu je 200
Mail contracts were the basis of P&O's was impossible at the site. The mines were Kronen. yellow, black. No 1493401-25. Left
prosperity until WWII. The company also reworked in the 19th and early 20th century border shows some small edge-tears. Est.
became a major commercial shipping line by two French and Greek companies, but 1921 to manufacture light bulbs. Text in
and passenger liner operator. Through mainly for lead, manganese and cadmium. Hungarian, French, German and English.
several acquisitions, its fleet reached a peak Extremely rare share of a truly important October 1923 VF EUR 20
of almost 500 ships in the mid 1920s. After mine. See also lots 98, 99 and K&K Monarchy.
1945, the passenger market declined to India 22 March 1898 VF-EF EUR 350 ITALY
but boomed to Australia. In 1972 P&O
absorbed the British-India Steam Navigation
Co. In 1987 they took over the European
Ferries Group Plc and renamed the company
P&O European Ferries. In 2006, P&O was
taken over by Dubai Ports World for £3.9
billion, however, the P&O brand has been
retained. Scripophily of P&O is extremely
rare.
27 November 1951 VF EUR 100

359 ROYAUME DE GRECE - EMPRUNT 1920 363 CEDOLA DI CREDITO


GREECE : 5% Obligation de 5 Drachmes. Serie ITALY : black on blue paper. Per ducati 50.
B. brown. No 61077. Folds. Text in Greek Issued in accordance with the Royal Edict of
only. The total loan amounted to 1,5 million 24 August 1806 (Kingdom of Naples under
Drachmes. Coat-of-arms of Greece. Napoleonic occupation). Signed by the
1920 VF EUR 10 Minister of Finance. Pen-cancelled.
1807 VF EUR 50

357 BARROW-IN-FURNESS ASSOCIATION


FOOTBALL CLUB
GREAT BRITAIN : BARROW-IN-FURNESS. 1
Share of 10 Shilling. black. #16000. No 2027.
The club was founded in 1901, and has in the
past been in the top leagues on English
football. These days it plays at a lower level.
Barrow is an industrial town in the north of 360 TITAN, S.A. DE CIMENTS
Lancashire, northwest England. GREECE : ATHENES. 10 Actions de Drs.100,
9 September 1965 EF EUR 50 unissued. brown, black. Folds. Text in Greek
See also lots 16, 22, 27, 67, 88, 89, 90, 92, and French. Lovely share with 5 different
93, 94, 96, 101, 175, 176, 201, 220, 395, 402, vignettes of industrial buildings. This cement
469, 555, 556, 565, 568, 571, 581, 582, 584, factory was est. 1902 in Elefsina and became
595, 597, 601, 609, 622, 624, 660. a limited company in 1911. Today, Titan
GREECE Cement Company is active in 13 countries
358 MINES DU LAURIUM, CIE. FRANCAISE and employs over 5000 people. Not seen
GREECE : PARIS. Cert. d'Inscription de Part de before by us.
Fondateur. pink, black. No 18624. Large 7 December 1935 VF-EF EUR 50
format, folds. HUNGARY
Laurion lies on the coast, east of Athens.
After the battle of Marathon, Themistocles
persuaded the Athenians to devote the
anticipated revenue derived from a major
silver vein strike in the mines of Laurion circa
483 BC to expanding the Athenian fleet to
200 triremes, and thus laid the foundation of
the Athenian naval power. Towards the end
of the 5th century, the output fell, but the
mines continued to be worked ; Strabo

41
364 BANQUE DU TAVOLIERE DE FOGGIA shares - see next lot). Not seen before by us. közuti-vaspalya-tarsasag (=Public Railway
ITALY : NAPLES. 3,5% Obligation de 500 30 June 1913 VF EUR 60 Society of Buda). Text in Hungarian and
Ducats=F2200. black. #6000. No 1247. Folds German. Fold and four cancellation holes.
and a little staining. Text in French. Long Decorative border. 4-page document plus
format, thin paper. The bank was formed in coupon sheet (first 2 coupons cut). Operated
1834 with 2 series of shares. The first series a very early horse-drawn tramway line in
was reserved for citizens of the Kingdom of Buda (the western part of Budapest): from
the Two Sicilies, but the second series was Lanchid to Zugliget. Merged in 1878 with its
converted to obligations for sale to Pest counterpart to form the Budapestei
foreigners. The bank was formed, apparently Közuti Vaspalya Tarsasag (Royal Budapest
with a loan from François van Aken of Iron Road Co.). Not seen before by us.
Brussels (probably connected with the Gent 368 COMMERCIO DELL'INDICATORE 11 December 1868 VF-EF EUR 900
textile family of this name), to supply funds STRADALE ED AFFINI, SOC. PER IL
for the 'censitaires' of Naples to pay their ITALY : TORINO. 5 Azioni da L.100. green,
'cens' to the state. These were apparently black. No 731-35. See previous lot, similar
landowners, with a tax to pay. Interest on condition.
the bond was payable in Naples, Paris or 30 June 1913 VF EUR 80
Antwerp (from Joseph Le Grelle). Early date. 369 DEBITO PUBBLICO DEL REGNO D'ITALIA
25 April 1835 VF EUR 100 ITALY : ROMA. Bond of 1000 Lire 5%. blue,
green. No 260853. Portrait of King Vittorio
Emanuele I.
20 September 1935 EF EUR 20
370 REPUBBLICA ITALIANA DIREZIONE
GENERALE DEL DEBITO PUBBLICO 373 GROSS-PRIESEN-WERNSTADT-AUSCHA,
ITALY : ROMA. Titolo de 5000 Lire. green. No LOCALBAHN
34341. Vignette of the Italian Parliament k.k.MONARCHIE : WIEN. Stamm-Actie über
building. 200 Gulden OE.W. green, black. #2500. No
1977 EF EUR 10 542. Central fold. Founded 1889 and active
See also lot 171. until at least 1917.
21 February 1890 EF EUR 110
AUSTRO-HUNGARIAN
365 MINIERE DE BORGO-FRANCO, CIE. MONARCHY
ITALY : BRUXELLES. Action de F100. blue,
olive. #10000. No 1068. Folds, one small
edge-tear (repaired) and a little wear.
Attractive border with vignette of the mine
buildings and the surroundings. Co. founded
1901 in Belgium with a capital of 1 million
francs. Mined for silver-lead, copper,
bismuth and arsenic in Borgofranco d'Ivrea,
Province of Turin. Not seen before by us.
1901 VF EUR 100 371 PESTER ZUCKERFABRIKS VEREIN
366 MINES DE GROTTACALDA S.A. k.k.MONARCHIE : PEST. Ganze Actie über
ITALY : PARIS. Part Bénéficiaire. green, black. Gulden 1000. grey, black. No 31. Folds. Large
No 3082. Vignette of 4 miners at work. A format, with text in Hungarian and German.
sulphur mine in Sicilia (province of Enna) Separate coupon sheet with one coupon cut. 374 LAIBACH-STEIN, LOCALBAHN
with a history going back to the 17th Very early date - according to our records no k.k.MONARCHIE : WIEN. 4% Schuldver-
century. Production ended in the 1970s. earlier sugar share has ever been seen from schreibung über 200 Gulden Ö.W. green,
18 November 1912 VF EUR 20 the Austro-Hungarian Empire. The company black. #2500. No 3. Serie 574.Line opened in
was formed in Budapest on 1 August 1844 1890.
with a capital of 300.000 Gulden. It was set 12 July 1893 EF EUR 120
up by major Hungarian landowners, often 375 HAUTS-FOURNEAUX, MINES ET FORETS
nobility. Through the company’s refinery, EN CROATIE, S.A. DE
they could process their sugar beet k.k.MONARCHIE : BRUXELLES. Action de
production into sugar. Not seen before by F500. green, pink, black. #5000. No 1501.
us. Central fold and small stain. Large format.
1 July 1845 VF-EF EUR 1.500 Owned mines (iron, copper), forests and
367 COMMERCIO DELL'INDICATORE blast furnaces in Beslinac (Croatia) and the
STRADALE ED AFFINI, SOC. PER IL surrounding villages.
ITALY : TORINO. 1 Azione da L.100. pink, 22 March 1900 VF EUR 20
black. #1000. No 109. Folds with two 376 FREISTÄDTER STAHL- UND EISENWERKE
repaired splits. Vignette of piece of k.k.MONARCHIE : FREISTADT I. SCHL. Aktie
equipment as manufactured by the über 200 Kronen. purple, black. No 14867.
company, probably for the car industry. We Central fold. Successor company of the
believe they made street signs, and perhaps Robert Pollak firm in Teschen/Cieszyn at the
also street lights (the first electric traffic light Polish/Czech border. Built parts for the car
was developed in 1912 in the U.S.). Founded industry. Taken over by
1913 with a capital of 100.000 Lire (so only 372 BUDA STRASSEN-EISENBAHN-GES. Mannesmannröhren-Werke in 1921 and
1000 shares, including certificates of 5 k.k.MONARCHIE : BUDAN. Actie über 200 liquidated 1924.
Gulden O.W. green, grey. No 882. Budai 1 December 1907 VF-EF EUR 80

42
379 LA COMPAGNIE HOLLANDAISE DES uitgestelde Schuld van Fl.500. olive, black.
INDES OCCIDENTALES - VOC No 1926. Folds with repaired edge-tears.
NETHERLANDS : Etat des Fonds. black. Dutch Formed in 1869 to build a line Boxtel-
East India Co. (VOC). Table printed in Paris Gennep-frontier at Goch-Büderich. Taken
indicating the VOC company capital, annual over by Staatspoorwegen in 1919, and by
dividends/share price evolution from the Deutsche Reichsbahn in 1925. Rare type.
1679/1723 until 1774. 16 June 1891 VF EUR 70
1774 VF EUR 50

377 ÖSTERREICHISCHE AG DER HOTELS UND


KURANSTALTEN ABBAZIA
k.k.MONARCHIE : AUSTRIA. WIEN.
Stammaktie 400 Kr. Serie B. blue, black. No
17555. Operated an elegant Adriatic Sea 380 GROOT-BOEK DER NATIONALE SCHULD
resort in Abbazia, popular with wealthy NETHERLANDS : AMSTERDAM. 2,5%
Austrian visitors. It was known as the Certificaat van 800 Gulden. black. No 1676.
Austrian Riviera. Abbazia is now Opatija, Folds. Certificate representing 800 florins of
Croatia. Dutch Government debt. Issued by a
1 November 1910 EF EUR 70 consortium of banks led by Ketwich en
See also Austria, Czechoslovakia, Hungary, Voombergh en Wed. Willem Borski.
Poland,… 383 NEDERLANDSCHE CENTRAAL-SPOOR-
1 January 1827 VF EUR 100
WEG MAATSCHAPPIJ
MONACO
NETHERLANDS : UTRECHT. Schuldbekentenis
groot Fl.250. Serie 4. yellow, black. No 6997.
Folds and one small edge-tear, repaired.
Unusually attractive Dutch railroad share
printed in Utrecht. Shows the cities of
Utrecht and Zwolle, shipping scenes, train, a
windmill and much more. Bond issued by the
Ned. Centraal-Spoorweg Mij. This company
was founded in 1860 to build and exploit the
Utrecht-Amersfoort-Zwolle-Kampen line as
well as some secondary connections. Since
1885, the Nede. Rhijnspoorweg-Mij. controls
the company. Nationalised in 1919. The
prettiest Dutch railroad certificate we have
378 GRAND HOTEL MONTE CARLO, LTD. ever seen. First time in our auctions.
MONACO : MONTE CARLO. Cert. of 50 shares 1 July 1894 VF EUR 80
of £1. red, black. No 310. Generally worn 384 ZUID-AMERIKA LIJN
certificate with many folds and slight edge- NETHERLANDS : AMSTERDAM. Oprichters-
damage. The Monte Carlo Grand Hotel is still Aandeel. black. No 18. Founders’ share of a
today a splendid hotel located between the shipping company established to connect
Grand Casino and the Mediterranean Sea. 381 VEREENIGDE RHEDERIJ the Netherlands with the South American
Not seen before by us. NETHERLANDS : AMSTERDAM. Aandeel east coast. Taken over by the Kon.
19 April 1898 F-VF EUR 50 Fl.1000 Nederl. Cour. black. #300. No 206. Hollandsche Lloyd in 1908 which in 1981
See also lot 122. became part of Nedlloyd.
Generally worn condition. An 8 page (partly
THE NETHERLANDS bounded) share certificate of a company that 13 July 1899 EF EUR 20
owned 3 sea-going ships (Henriette & Henri,
Edams Welvaren and de Nederlanden). The
main destination was the Dutch colony of
Suriname. Dividend notes on the last page
until 1866. A very early Dutch shipping
share. Only 300 shares issued.
27 February 1830 F-VF EUR 400
382 NOORDBRABANTSCH-DUITSCHE
SPOORWEG-MAATSCHAPPIJ
NETHERLANDS : ROTTERDAM. Bewijs van

43
385 NEDERLANDSCHE TRUST-MIJ. VOOR but the brand name 'Van Houten' is still used
GOUD- EN ANDERE MIJNWAARDEN today by the Swiss chocolate company Barry
"WILHELMINA" Callebaut.
NETHERLANDS : AMSTERDAM. Cert. Prov. January 1922 VF EUR 60
d'Action de F12=Frs25=M.20=£1. black. No
3155. Text in French, but company name
also in Dutch. The company was formed to
invest in gold-mining and other mining
securities. While the share has been seen
before, this provisional certificate is new to
us.
2 November 1902 VF-EF EUR 50

389 GEMEENTE AMSTERDAM PREMIE-


LEENING (CONCERTGEBOUW - ARTIS)
NETHERLANDS : AMSTERDAM. 3% Obligatie
groot Fl.100. grey, black. No 3. Striking art-
déco design, with abstract underprint and
arms of the city. The Fl.300.000 proceeds of
the loan were to be divided between the
Concertgebouw concert-hall and orchestra
(Fl.200.000) and the Artis zoo (Fl.100.000).
Hole-cancelled. Extremely rare.
386 ZEEVISSCHERIJ MIJ. "HORIZON"
1 May 1933 VF EUR 90
NETHERLANDS : 's-GRAVENHAGE. Aandeel
Fl.500. green, buff, yellow. No 23. Folds.
Attractive vignette of a sail ship at sea, also
company flag. A beautiful Dutch fishing
share. 392 LEVER BROTHERS & UNILEVER N.V.
1 October 1918 VF-EF EUR 90 NETHERLANDS : AMSTERDAM/ROTTERDAM.
387 ZEEUWSCH-VLAAMSCHE TRAMWEGMIJ Cert. van gewone Aandelen Fl.1000. blue,
NETHERLANDS : TERNEUZEN. Aandeel van yellow, green, black. No 109303. Folds.
500 Gulden, unissued. green, buff, red. Formed 1894 as Lever Brothers Ltd; name
#3000. No 2421. Founded 1911 and survived changed to the above in 1934. Owned large
until 1978 as a provider of public transport in interests in soap, margarine, edible oils, food
central and eastern Zeeuws-Vlaanderen. The products and allied industries in many
company operated several tramlines until countries. In 1937 the company merged with
1949 after which it made the switch to Unilever, and all activities of both companies
buses. Crossed the border to Zelzate and within the British Empire were allocated to
Moerbeke. the British company, and the rest of the
2 March 1921 UNC EUR 20 world to a Dutch company of similar name.
Factories and processing plants worldwide.
390 LUTINE, BERGING GOUD- EN
The company still exists, but in a different
ZILVERLADING
form. Extremely rare.
NETHERLANDS : AMSTERDAM. Bewijs van
1 September 1942 VF EUR 50
Ontvangst. blue, red, buff, black. No 72.
Folds. The English frigate 'Lutine', loaded
with gold and silver, sailing to Hamburg, sank
off the Dutch island of Vlieland in 1797.
Since that date, many attempts have been
made to salvage treasure from the wreck,
388 VEREENIGDE NEDERLANDSCHE and a great amount has been recovered. This
ZWITSERSCHE CHOCOLADEFABRIEKEN N.V. colourful share was from an attempt to
NETHERLANDS : WEESP. Aandeel Fl.1000. discover further treasure, using two local
Serie A. brown. #970. No 242. Text also shipping companies.
partly in German. The chocolate producer 23 August 1933 VF EUR 140
operated in Weesp (Noord-Holland). The city 391 VEREENIGING "ROTTERDAMSCHE
still holds an annual 'Chocolate Festival' in GOLFCLUB"
November. The company, then known as NETHERLANDS : ROTTERDAM. Obligatie
'Van Houten' has a history going back to Fl.500. green, black. No 31. Folds. Opened in
1770 in Amsterdam. Production moved to 1933 with 9 holes, today known as Golf club
Weesp in 1850. The factory closed in 1971 Kralingen.
1 April 1933 VF EUR 150

44
393 BOUVY ZOUT N.V. We know of its shares from the 1930s, but
NETHERLANDS : AMSTERDAM. Bewijs van this earlier type seems rarer. Renamed
600 Aandelen elk groot Fl.1000. purple. Cement Szczakowa in 1952. Today,
#600. No 1 t/m 600. Central fold with one Szczakowa is a district of the city of
small repaired tear. This one certificate Jaworzno, Upper Silesia.
regroups the entire company capital of 1923 VF EUR 60
600.000 NLG (600 shares of 1000 NLG each).
It is issued to the investment company
Bouvy. The salt company became part of the
Akzo Nobel concern.
31 December 1968 VF EUR 150
394 STICHTING VRIENDEN PSV
NETHERLANDS : EINDHOVEN. Cert. van een
obligatie op naam, specimen. red, olive,
black. Small format. Unissued (specimen
stamped) bond from one of the legal entities
of the PSV Eindhoven football club. The club
was founded 1913 as Philips Sport
Vereniging and is since many years the
leading Dutch football team, together with
Ajax Amsterdam.
4 September 1995 EF EUR 30
See also lots 2, 3, 432, 433.
NORWAY
395 NORWEGIAN STATE AND MUNICIPAL
POWER CONSORTIUM 398 PIERWSZA FABRYKA LOKOMOTYW W
NORWAY : LONDON. Scrip Certificate for POLSCE S.A.
U.S.$1000, specimen. blue, black. Temporary POLAND : VARSOVIE. Action de 50 Zl. brown,
certificate of a $1000 bond issued by the green, yellow, black. No 3984577. Folds.
Sira-Kvina Kraftselskap in London (marketed Design shows a locomotive, Mercury and a
by the Hambros Bank). Sira-Kvina dove. The factory was in Chryzanowa, near
Kraftselskap is an electric power producer Jankovica, Silesia. It was founded in 1919,
active in Kvinesdal and Sirdal, Norway. and produced 150 locomotives a year. The
20 January 1965 UNC EUR 30 artistic share is designed by Jozef Mehoffer,
402 MUNICIPALITY OF DANZIG
POLAND one of Poland's most influential painters in
POLAND : DANZIG/LONDON. 7% Mortgage
the early 20th century. A rare & wanted
Loan of £100. orange, black. No B3457.
share.
Folds. Very large format bond, printed by
1923 EF EUR 400
Bradbury, Wilkinson. Decorated with a fine
vignette of the Danzig waterfront, with the
famous mediaeval crane. The crane was
operated by men in a treadmill on each side.
1 September 1925 EF EUR 350

396 VESTA, LEBENSVERSICHERUNGS-BANK


AUF GEGENSEITIGKEIT
POLAND : POSEN. Antheil-Certifikat über 100
Thaler. black, buff. No 436. Generally
somewhat worn condition, with folds,
repaired tears and small piece of top border
399 FIRLEY, FABRIQUE DE PORTLAND-
missing (outside printed part of the
CIMENT DE LUBLIN (2 types)
certificate). Text in German and Polish. Arms
POLAND : VARSOVIE. 1. 10 Actions de 500
of the Polish King. 403 MANUFACTURE DE CHAPEAUX A LODZ
Marcs Polonais, 1921, purple, green & black.
Formed Posen/Poznan 1873. The city was ANC. HERMANN SCHLEE S.A.
2. 1 Action de 500 Marcs Polonais, 1923 (8th
part of Prussia (and later Germany) from POLAND : LODZ. Action de Zl.1000. olive,
issue), green & yellow. Both have a central
1815 until 1918, later Polish. The life black. #2400. No 2310. A hat manufacturer
fold and some minor edge-damage. Of
insurance company is named after Vesta, the from Lodz, Poland's textile capital. 3rd series,
similar design. Vignette of a beer keg at the
Roman Goddess of the hearth fire, or, in the bringing the number of shares issued from
top.
broader sense, the private households. One 1800 to 2400 and hence the company capital
1921+1923 VF EUR 60
of very few early Polish shares and extremely to 2,4 million Zloty.
400 TEPEGE, TOWARZYSTWO DLA
rare. 1929 EF EUR 50
PRZEDSIEBIORSTW GORNICZYCH
1 October 1873 F-VF EUR 700 404 PREMIOWA POZYCZKA ODBUDOWY
POLAND : KRAKOW. 20 Shares of 1000 Mk.
397 PETROLES DE VOLANKA-BORYSLAW KRAJU
red, black. No 15621. A mining company.
POLAND : ANVERS. Action Privilégiée de POLAND : WARSZAWA. Obligacja ZT.2000.
1923 EF EUR 20
F100. green. #4200. No 4139. Fold. Founded Serie 1. pink, black. No 16. Heavy central
401 SZCZAKOWA, SPOLKA AKCYJNA
1898. Active in Galicia, today Poland. Only folds. Polish government bond issued soon
FABRYKI PORTLAND CEMENTU
once before in our auctions. after WWII to reconstruct the country.
POLAND : KRAKAU. Actie von Mp.1000. pink,
23 July 1898 VF-EF EUR 50 1946 VF EUR 20
black. No 52248. Portland cement factory.

45
See also lots 376, 431, 474 and K&K format, with vignette of the hotel, roses, (Vouzela).
Monarchy. leaves, etc. The hotel also operated a casino. 9 April 1927 VF EUR 20
PORTUGAL Extremely rare - only once before offered by 412 COMETAIN S.A., CIE. MINIERE DES
us, in 1992. ETAINS
23 November 1888 VF EUR 200 PORTUGAL : BRUXELLES. Part Sociale. blue.
#40000. No 2594. Old-style tape on the right
border to hold the coupons attached.
Founded 1927 with mining concessions
called Cabeça de S. Goncalo Joao (Vizeu) and
Conto Miniero de Castelo, both in Portugal.
See previous lot - this firm surely succeeded
the Soc. Minière de la Vouga.
1929 VF EUR 10
413 PORTUGAL, CIA DE SEGUROS S.A.
PORTUGAL : LISBOA. 5 Acçoes de Esc.
100$00, unissued. blue. Founded 1884.
1929 EF EUR 20

405 MERCADO DA PRACA DA FIGUEIRA S.A.


PORTUGAL : LISBOA. Acçao de Rs.45$000.
red. #5000. No 4855. Central fold. The
company was formed 1882 to operate the
market in the main square of the city of
Figueira do Foz, near Oporto. Vignette of
ladies selling market produce, and a border
of arabesques, but dividend and
amortization stamps up to 1927 do cover 409 PLUMBARIA S.A.
much of the face as well as the reverse. PORTUGAL : ANVERS. Action de Jouissance. 414 CAMINHOS DE FERRO PORTUGUESES
9 May 1883 VF EUR 50 brown, buff. #1300. No 639. Central fold and PORTUGAL : LISBOA. 6% 5 Obrigaçoes F500.
some faint brown spots. Co. founded 1900 to Cat. 240 E2. brown, yellow. No 440379-83.
take over the assets of the Co. Mineira e Trimmed bottom border. Central fold.
Metallurgica do Braçal (Portugal) – land Owned or leased almost all railways in
inwards from Leiria. Flowery border. Portugal, prior to nationalization in 1975.
12 December 1900 VF EUR 30 Fine border design, showing amongst others
the central station in Lisbon. Text in
Portuguese and French.
1 July 1932 VF EUR 50
415 SEGUROS NAUTICUS, CIA DE
PORTUGAL : LAURENCO MARQUES. 1 Acçao
de Esc.100$00. brown, yellow. No 163936.
Beautiful insurance share showing an old
Portuguese caravel. The company provided
marine insurance and was founded in 1943.
21 May 1958 EF EUR 30
See also lot 349.
ROMANIA
406 JARDIN ZOOLOGICO E D'ACCLIMACAO
EM PORTUGAL S.A.
PORTUGAL : LISBOA. 1 Acçao de Rs 20$000.
Serie 1. black, olive. No 2347. Folds with a
little discolouration, as usual. One of the
most attractive and popular of all zoo pieces,
and always in demand. Marvelous border of
'action shots' of various wild animals,
reptiles and birds. Very large format, design 410 BANCO DO FAYAL
by Carvalho. This 1884 share is much rarer PORTUGAL : HORTA. 5 Acçoes de
than the later - similar looking - 1904 share. Esc.100$00. green, blue. No 22306-10. Folds,
15 May 1884 VF EUR 200 a few small holes and a little staining. Rare 416 SUCRIERE DE ROUMANIE, SOC.
407 GIDADE DE LISBOA certificate of a bank on Faial Island, Azores. ROMANIA : PARIS. Obligation de F500.
PORTUGAL : CAMARA MUNICIPAL. Horta is the island's capital. Attractive and green, black. #750. No 174. French-owned
Obrigaçao de Reis 10$000. black. No 7970. complex border with vignette of tools but but growing sugar-beet in Romania. Early
Folds and some faint staining at the right. also of two birds of prey. date for Romanian scripophily.
Small format. A Lisbon city bond. Arms of the 31 May 1924 VF EUR 150 29 September 1876 EF EUR 90
city. 411 MINIERE DE LA VOUGA S.A., SOC. 417 INSTITUTULUI DE CREDIT SI ECONOMII
1 June 1887 VF EUR 40 PORTUGAL : BRUXELLES. Action de Capital de TIMISIANA
408 HOTEL CLUB CALDAS DAS FELGUEIRA F500. blue, yellow. #4000. No 733. Tear at ROMANIA : TIMISOARA. Nominative share
PORTUGAL : LISBOA. Acçao de Rs.100$000. the bottom right, repaired. Owned for 200 Cor. brown, black. No 5811. One
Serie 2. black. #600. No 318. Folds and slight concessions in Cabeca de St. Gonçalo Joao small edge-tear (repaired). Large format.
edge-damage at the bottom. Very large (Vizeu) and Conto Mineiro do Castelo Striking design with large vignettes of

46
peasant man and woman, cherubs, classical 423 VILLE DE MINSK
figures with train, vines, machinery, RUSSIA : BELARUS. MINSK. 4,5% Obligation
cornucopia, etc. Issued to Ionel de de 500 Rbls. Serie 3. brown, black. No 57.
Mocsonyi, of the illustrious Mocioni family. See previous lot, also of the third series. One
1 October 1910 VF EUR 100 small edge-tear and central fold.
1912 VF-EF EUR 1.600

418 UZINELE DE FIER SI DOMENIILE DIN


RESITA S.A.
ROMANIA : BUCURESTI. 5 Actions
Nominatives de Lei 500. brown, black. No
1450756-60. Large format piece with text in
Rumanian and French. Striking border of a
heavy chain - probably one of the company's
main products. Wide and detailed view of
the steel-works. A minimum of 60% of the
424 VILLE DE MINSK
shares must be held by Rumanian citizens.
RUSSIA : BELARUS. MINSK. 4,5% Obligation
June 1926 VF-EF EUR 20
de 100 Rbls. Serie 3. red, brown, black. No
240. Central fold. Also third series.
1912 VF-EF EUR 1.400

422 VILLE DE MINSK


RUSSIA : BELARUS. MINSK. 4,5% Obligation
de 1000 Rbls. Serie 3. green, black. No 155.
Central fold and a little edge-damage at the
left border (outside the printed part of the
bond). Third series of the 1899 loan (which
419 KEREN - HAYESSOD (2 types)
amounted to 1.493.000 roubles – see
ROMANIA : BUCURESTI. 1. Cert. de Lei 1000,
previous lot). Printed date of the bond (to be
blue & yellow, 1923. 2. Cert. de Lei 6000,
seen on the back) is 1912. The loan was
green, 1926. Both have different design but
issued in 3 series, with the first and the 425 VILLE DE MOSCOU 1896 XV
same purpose: to collect money to fund the
second series each for an amount of 500.000 RUSSIA : MOSCOU. 4,5% Obligation de 500
rebuilding of (Jewish) Palestine.
roubles and the third one for the remaining Rbls. Cat. D/H 2059c – rarity 10. blue, brown,
1923+1926 VF EUR 100
493.000 roubles. For each series, three black. #200. No 10. Part of a 1 million
420 DATORIA PUBLICA A ROMANIEI
denominations were issued: 100, 500 and roubles loan to finance city water works.
ROMANIA : BUCURESTI. 5% Titlu de 5000
1000 roubles. First time we offer this type. Only 200 bonds of 500 roubles were ever
F.Aur, 10 Obl. de F500. pink, black. No 2782.
1912 VF EUR 2.000 issued.
Large format, with one repaired tear.
Decorative Romanian government bond with 1896 VF EUR 100
2 women: a peasant lady and a woman with
shield and sword.
January 1929 VF EUR 10
RUSSIA – city & state
421 VILLE DE MINSK
RUSSIA : BELARUS. MINSK. 4,5% Obligation
de 1000 Rbls. Serie I. red, black. No 280.
Folds and a few pin-holes. First Series. Not in
D&H. Arms of Minsk. The capital of Belarus.
At this time the city had 91.000 inhabitants,
of which more than half were Jews. Part of a
loan of 1.493.000 roubles. Loan issued in
1899 but the bond was printed in 1900. This
type & denomination (Serie I, 1000 roubles)
has only once before been seen by us.
1899 VF EUR 2.000

47
426 VILLE DE MOSCOU 1892 (1896) XVII this specimen is even more as this is the first 432 RUSSISCHE FONDSEN IN BANK-
RUSSIA : MOSCOU. 4,5% Obligation de 1000 one we have ever seen. ASSIGNATIEN
Rbls. Cat. D/H2061c. red, black. No 77. Part 1898 VF-EF EUR 2.000 RUSSIA : ST-PETERSBOURG. AMSTERDAM.
of a 7 million roubles loan to finance city 6% Certificaat 1000 Rbls. black. No 2283.
water works. Fold and a few repaired edge-splits. Long
1896 VF EUR 100 format, with text in Dutch and French. Loan
raised by a group of Amsterdam banks for
the Russian public debt.
24 January 1825 VF EUR 50

430 VILLE DE ST-PETERSBOURG 433 GRAND LIVRE DE LA DETTE PUBLIQUE


RUSSIA : ST-PETERSBOURG. 5% Obligation de DE RUSSIE
100 Rbls. Cat. 2115a – rarity 10. brown, RUSSIA : AMSTERDAM. 6% Rente Perpetuelle
427 VILLE DE MOSCOU 1896 XX for 1000 rbls. Serie 4. black. No
RUSSIA : MOSCOU. 4,5% Obligation de 1000 black. #12000. No 5116. Generally
somewhat worn condition with many 118827/69694. Trimmed borders. As almost
Rbls. Cat. D/H2064c. red, black. No 375. always with these type of bonds, both the
Large but repaired tears (old-style tape) in creases and pin-holes. Enforced right border.
Oldest known city loan of St. Petersburg, face and the reverse are mostly covered by
the bottom half of the certificate. Part of a 2 interest stamps up to 1916. Very early date.
million roubles loan to finance the good for 2,9 million roubles. Issued to
finance the construction of the Alexander 9 June 1829 VF EUR 300
construction of schools and a cemetery.
1896 F-VF EUR 100 Bridge across the river Neva.
428 VILLE D'ODESSA 1902 1875 F-VF EUR 500
RUSSIA : ODESSA. 4,5% Obligation de 500
Rbls. Cat. 2105 B – rarity 10. blue, black. No
54266-70. Pin-holes at the top. Odessa, in
the Ukraine, was the main Soviet port on the
Black Sea.
1903 VF EUR 40

434 GRAND LIVRE DE LA DETTE PUBLIQUE


DE RUSSIE
RUSSIA : 6% Rente Perpetuelle 500 Rbls.
431 VILLE DE VARSOVIE Serie 3. black. No 152341/32581. In excellent
RUSSIA : WARSZAWA. 4,5% Obligation de condition, without the usual stamps.
500 Rbl. Cat. D/H 2194b – rarity 10. blue, 1846 EF EUR 150
black. #600. No 37440. Trimmed left and
right borders and some old-style tape on the
back. 6th city loan. The fine view of the new
market, with customers shopping there, and
the meat, fish, fruit and vegetables, show
the purpose of this loan. Text in Russian &
Polish.
1899 F-VF EUR 250

429 STADT POLTAVA 435 GRAND LIVRE DE LA DETTE PUBLIQUE


RUSSIA : POLTAVA. 5% Bond of 1000 DE RUSSIE
Roubles, specimen. Serie 1. Cat. D/H 2130c. RUSSIA : 6% Rente Perpetuelle 500 Rbls.
red, black. Issued to finance street lightening Serie 3. black. No 167512/37767. Subscribed
and construction of buildings. Poltava is a by Hope & Co., Ketwich & Vroombergh &
city in central Ukraine today. It probably is Veuve Borski. Text in French on one side and
best known as the place where Tsar Peter Russian on the reverse. The Russian side
the First defeated the Swedish army in 1709, shows the imperial eagle. Wider border than
marking the end of Sweden as a great power unusual, and only one stamp! In above
and the rise of Russia as one. The issued average condition.
bond is extremely rare (D/H rarity 10) but 1878 VF-EF EUR 150

48
440 BANQUE FONCIERE DU
GOUVERNEMENT DE KHERSON
RUSSIA : UKRAINE. ODESSA. 4,5% Lettre de
Gage de 5000 Rbls. Serie 5. black, grey. No
10847. With pretty vignette of harvesting,
also coat-of-arms. Kherson is an important
city in southern Ukraine, and a major port on
the Black Sea and Dnepr River (although
blocked by ice in winter). It exports much of
Ukraine's wheat production.
1898 VF-EF EUR 50
441 BANQUE FONCIERE DE KHARKOV
RUSSIA : UKRAINE. KHARKOV. Action de 200
Rbls. green, black. No 44353. Founded 1871.
Name in Russian, French and German.
438 LOT OF 84 RUSSIAN CITY, RAILROAD Stamps on the face.
AND GOVERNMENT LOANS 1902 VF-EF EUR 30
RUSSIA : 1-8. Emprunt 5% de la Ville de
436 RUSSIAN STATE LOAN (“CHINESE BAKOU, 1910, Obligation de 189 Rbls. 9-11.
LOAN”) XI et XVII Emprunts réunis de la ville de KIEW
RUSSIA : 4% Bond of 5000 RM=2315 Rbls. 1909, Obligation 5% de 187,50 Rbls. 12.
blue, pink, buff, black. No 5337. At the end Emprunt de la ville de MOSCOU de 1910,
of the 19th century, Chinese resentment of Obligation de 100 Rbls. 13. Same, Obligation
foreign grew into the 'Boxer Rebellion'. de 500 Rbls. 14. Emprunt de la ville de
When this was put down by European YALTA, 1911, Obligation de Rbls 187,50 = Frs
armies, China was compelled to pay 500 = £19.16.10. Plus 16 railroad bonds and
compensation to the countries whose assets 54 Imperial Government bonds. Full detail
in China had been destroyed. Russia was one on request.
of those countries and was to receive some Various dates VF EUR 200
£19.000.000 over 20 years. The Russian
government issued a loan, to be serviced RUSSIA - finance
from those Chinese payments. This bond is
part of that loan. Colourful piece.
1902 VF EUR 50

442 ESTLÄNDISCHE ADELIGEN GÜTER-


CREDIT-VEREINS
RUSSIA : REVAL. 4% Lettre de Gage de 500
Rbls. purple, blue, black. No 32294. Text in
Russian, Estonian and German. First time we
see an issue from 1902.
1902 VF EUR 200

439 WILNAER HYPOTHEKEN BANK


RUSSIA : LITHUANIA. Lettre de Gage 4,5%
1000 Rbls. Serie 8. red, black. No 42245.
Decorated with the arms of the city - a
knight on horseback. The city, as Vilnius, is
now in Lithuania, which uses the same arms.
437 GOUVERNEMENT IMPERIAL DE RUSSIE 1908 EF EUR 50
RUSSIA : ST.-PETERSBOURG. Cert.
d'Inscription Nom. d'obligations. black. No
1644. Vertical fold with some staining,
pinholes and somewhat tired condition. This 443 BANQUE DE COMMERCE DE SIBERIE
sort of certificate was issued by the Russian RUSSIA : ST-PETERSBOURG. 10 Actions de
government to holders of bonds who wished 250 Rbls. red, black. No 7581-90. Some edge-
to have the bearer bonds in the security of damage at the left, and pin-holes. Attractive
their own name. The certificate has coupons design, showing Siberian hunters, miners,
which were redeemed in the same way as silk-merchants and Chinese traders. Text in
those on the original bond. Arms of Russia. Russian and French. Founded in 1872 but
This piece was issued in respect of 2 bonds apparently very successful in the early years
of the 4% Russian Consolidated Railway of the 20th century, as it increased its capital
Loan. Printed for issue in St. Petersburg, in 1905, 1906, 1907, 1909, 1910 and 1912.
manually altered to Petrograd. Text in This year (1905) and high denomination is
French. Coupons paid until 1918. uncommon.
15 September 1916 F-VF EUR 200 1905 F-VF EUR 70

49
bank. #30000. Left borders shows a lot of small
1916 EF EUR 350 holes and lower left corner is missing. A
separate new/replacement coupon sheet for
the years 1907-1918 is attached - also
specimen.
One of the great Russian railway companies.
Founded by the Paris bank Crédit Mobilier
(bank of the famous Pereire brothers).
Formed to build lines St. Petersburg-
Warsaw, Moscow-Nizhny Novgorod,
Moscow-Feodosia and Orel-Libava, a total of
4300km. By 1863 the first two lines were
completed. In 1868 the company took over
the management of the Nicolai Railway
(Moscow-St.Petersburg). Specimen from
Imprimerie Dupont with design by Catenacci,
with marvelous classical-style detail, of
(glamourized) views of St.Petersburg and
Moscow, forests, industry, and little angels
444 BANQUE RUSSE DU COMMERCE ET DE hard at work in fields and factories, and a
L'INDUSTRIE fine underprint too. Text in Russian on the
RUSSIA : ST.PETERSBURG. 1 Action de 250 front, and French and English on the back.
Rbls. brown, black. #20000. No 4275. Large This is the 1859 I, 1st issue.
vignettes of Mercury, and a goddess with a 1 April 1859 F-VF EUR 1.500
gear-wheel. Text in Russian and French. 450 CONSOLIDATED 3RD.
1910 VF EUR 100 RUSSIA : ST-PETERSBOURG. Bond of 1250
445 BANQUE FONCIERE DE BESSARABIE- Rbls 4%. Serie 3. Cat. D/H 1010C. red. #7149.
TAURIDE No 379501-600. Slight edge damage at the
RUSSIA : ODESSA. 4,5% Pfandbrief über 1000 bottom and right border. Text in Russian,
Rbls. Serie 35. red, black. No 78131. Upper French, German and English.
left corner missing (outside the printed part 1890 VF EUR 20
of the certificate). Decorative border of 448 NIZHVOLSEL AGRARIAN CREDIT BANK 451 GRAND RUSSIAN RAILROAD CO.
grapes, hops, maize, etc. Text in Russian, SOCIETY RUSSIA : ST-PETERSBOURG. 4% Bond of 625
some German & French, name only in RUSSIA : SARATOV. Founder Share of 100 Rbl.Mét.= 100£ = 1200 Fl. Cat. D/H 1023.
English & Italian. Roubles. green, black. No 8421. Folds, a little green, black. No 23271. Text in Russian and
1913 VF EUR 30 staining at the top and some paper missing on the back in English and French. The total
at bottom left and right, between the share loan amounted to 15.625.000roubles.
and the coupons. Tape at the back to 1890 VF-EF EUR 30
reinforce the folds. Very decorative, though
relatively small, share with agrarian themes.
Co. capital 1,5 million roubles. Established
after the Revolution and famine to stimulate
the agrarian produce by providing credit to
the farmers around Saratov, Astrakhan,
Kalmykien and Stalingrad/Volgograd. First
time seen by us.
1923 F-VF EUR 250
RUSSIA - railroads
452 C.D.F. DU SUD-EST, CIE. DES
RUSSIA : ST-PETERSBOURG. 5 Actions de
Jouissance de 125 Rbls. blue, black. No
100411-15. Formed 1893 as a merger of the
Gryazy-Tsaritsin and Kozlof-Voronezh-Rostov
446 CREDIT IMMOBILIER DE LA VILLE DE companies. Text in Russian, French, German.
KHARKOFF, SOC. DE First time we offer this particular type.
RUSSIA : UKRAINE. KHARKOV. 5% Lettre de 1897 VF EUR 100
Gage de 1500 Rbls, specimen. Serie 3. 453 LIBAU-HASENPOT NARROW GAUGE
brown, black, red. Text in Russian and RAILWAY
French. Rare piece and in excellent RUSSIA : LATVIA. LIBAU. 5% Bond of 1000
condition. Rbls. red, black. No 75. Two large stains at
1914 EF EUR 500 the lower left, otherwise in very fine
447 CREDIT DU GOUVERNEMENT DE condition. Est. 1896 to build a 46 km line
PETROGRADE, SOC. DE between Libau (today Liepaja in western
RUSSIA : PETROGRADE. 5% Obligation de Latvia) to Hasenpot (Aizpute). The total loan
1000 Rbls. red, black. No 29257. Text in amounted to 880.800 roubles and bonds of
449 GRAND RUSSIAN RAILWAY CO.
Russian, French and English. Founded 1906. 100, 500 and 1000 roubles were issued. This
RUSSIA : ST-PETERSBOURG. 1 Obligation
First Series, 19th issue. First time we offer is the first time we see this top
4,5% of 500 Silver Rbls, specimen. Serie 1.
scripophily from this local government credit denomination. Not in D/H.
Cat. D/H 4/1016ab. green, brown, black.
1898 F-VF EUR 2.000

50
with Vladikavkaz ; expansion followed in
later years.
1911 VF-EF EUR 1.500
457 C.D.F. DE FERGHANA, CIE. DU
RUSSIA : PETROGADE. 4,5% Bond of 187,50
Rbl. Cat. D/H 1015. purple, black. #54000. No
263670. Text in Russian and French.
1914 EF EUR 10
RUSSIA - mining

463 CHARB. DE MIKHAILOVKA, S.A. DES


RUSSIA : BRUXELLES. 5 Actions de F100.
brown, red. No 32866-70. Fine large vignette
of the mines, deep-mine and open-cast, with
railway, factories and more. Very decorative
piece, with attractive border, too.
Mikhailovka, northwest of Kharkov was, and
still is, a rich mining area, with coal and
458 CHARB. DE BIELAIA (DONETZ) S.A. copper in particular. This new company
RUSSIA : UKRAINE. BRUXELLES. 5 Actions de (founded 1900) took over the assets of the
F100. red, green. No 8956-60. Folds. S.A. des Charbonnages réunis du Midi de la
Founded 1895 to mine for coal in the Donetz Russie, consisting of 1602 deciatines (1
region. This 5-share certificate is very rare. deciatine = 270 acres) of land in
1895 VF EUR 50 Slavkanoserbsk (near Mikhailovka) which the
459 CHARB. REUNIS DU MIDI DE LA RUSSIE Charb. réunis had bought from Princess
RUSSIA : BRUXELLES. Action de F500. purple, Maria-Alexandrowna Dolgorouki in 1876.
black. #17000. No 7408. Folds. Large format. The Prince, Alexis Sergewitch Dolgorouki,
Owned coal mining concessions in was involved in this company and brought in
Slavkanoserbsk (near Mikhailovka). Its assets the mining concession for the land which the
were taken over by the S.A. des Russian authorities had granted to him. First
Charbonnages de Mikhaïlovka (see lot 463). time we see this '5-share' type.
454 C.D.F. SECONDAIRE DE NOVOZYBKOF 1899 VF EUR 20 1900 VF-EF EUR 1.000
RUSSIA : ST-PETERSBOURG. Action de 100 460 INDUSTRIE MINIERE DU TEREK, S.A. D' 464 CHARB. DE VARVAROPOL (DONETZ) SA
Rbls. brown, black. #10000. No 2927. RUSSIA : TEREK. Action de 187,5 Rbls. blue, RUSSIA : HAINAUT. CHARLEROI. Titre de
Company formed 1898 to build a branch line black. #21332. No 10948. In near perfect participation bénéficiaire. red, green. #2000.
from Novozybkov to Novgorod-Seversk, in condition. Text in Russian and French. Terek No 292. Trimmed right border. Operated a
Chernigov district, in the far north of is a river in Georgia and Russia starting in the coal mining concession in Alexandrovka,
Ukraine. Text in Russian, French, German. Caucasus and flowing into the Caspian Sea. Slovianoserbsk (south-eastern Ukraine).
1900 VF EUR 1.200 1899 EF EUR 20 1902 VF EUR 30
455 MOSKAU-KASAN EISENBAHN-GES.
RUSSIA : MOSKAU. Bond of 2000 RM 4%.
Cat. D/H 1054C. red, black. #8000. No 6790.
Trimmed bottom. Text in Russian, German
and Dutch.
1901 VF EUR 20

461 MINES D'OR DU KATCHKAR S.A. DES


RUSSIA : BRUXELLES. 10 Actions Privilégiées
de F100. green. No 115831-40. Formed to 465 CHARB. REUNIS DU NORD-DONETZ A
acquire 88 concessions for coal in the MARIEVKA, S.A. DES
Chelyabinsk area, in the Ural Mountains. The RUSSIA : BRUXELLES. 5% Obligation de F500.
design shows two Russian miners. First time blue. #9000. No 3164. Part of a 4,5 million
we see this type. francs loan. Founded 1896 to mine for coal
456 WLADIKAWKAS EISENBAHN-GES.
1897 VF EUR 100 in the Marievka region today known as
RUSSIA : ST.-PETERSBURG. 4% Bond of 500
462 MINES D'OR DU KATCHKAR S.A. DES Mykhailo-Laryne, Ukraine.
Rbls., specimen. Serie 2. Cat. D/H 1171b.
RUSSIA : BRUXELLES. Action de Capital de 1905 EF EUR 50
green, black. No 0000. Central fold. No
F100. red, buff. #75125. No 1312. See 466 MINIERE NOUVELLE DE KRIVOI-ROG
issued pieces of this issue are known to us.
previous lot, but this is a later, undecorated RUSSIA : PARIS. Action Privilégiée de F100.
No details or photo in Drumm. Text in
issue. blue. #20000. No 525. Probably the
Russian, French, German. Highest rarity. The
1 April 1923 VF EUR 20 successor company of the Minière Joltaia-
company was founded in 1885 to link Rostov

51
Rieka with various properties in the 471 CREDIT FONCIER DE LA VILLE DE ST. chairman of Borsigwerke in Berlin - the
Ekaterinoslav district of the eastern Ukraine. PETERSBOURG (3 types) world's second largest producer of
Krivoi Rog is a major industrial centre, with RUSSIA : ST. PETERSBOURG. 1. 4,5% locomotives. He founded this Russian
very rich iron ores, also copper ore and Obligation de 5000 Rbls, 1908, blue & black. metallurgical plant close to Donetz, in the
brown coal. Iron foundries and related 2. 4,5% Obligation de 1000 Rbls, 1907, heart of the local mining industry. The
factories have grown up on the ore deposits. brown & black. 3. 4,5% Obligation de 500 company was fully vertically organized with
8 January 1905 EF EUR 40 Rbls, 1908, green & black. The bank was blast furnaces, iron and steel foundry, rolling
467 INDUSTRIE HOUILLERE DE LA RUSSIE founded as early as 1861. The 5000 roubles mills and engineering works. As such, the
MERIDIONALE, SOC. D' issue is extremely rare. company provided the mining companies in
RUSSIA : GORLOVKA. Action Priv. de 100 Rbl. 1907+1908 VF-EF EUR 200 the region with all technical equipment they
blue, black. #12500. No 4591. Formed 1872. needed (steam engines, steel constructions,
Text in Russian and French. pumps, mining tools,...). Nationalized by the
1907 VF EUR 20 Soviets in 1917. Rare type.
468 INDUSTRIE HOUILLERE DE LA RUSSIE 1906 VF-EF EUR 100
MERIDIONALE, SOC. D'
RUSSIA : GORLOVKA. Action Priv. de 100
Rbls. blue, black. #25000. No 14446. See also
previous lot. Share issued as part of a capital
increase from 2,5 million roubles to 3,75
million roubles.
1909 VF EUR 20

472 RJASAN-URALSK EISENBAHN-GES.


RUSSIA : ST-PETERSBOURG. 4,5% Bond of
469 NERCHINSK GOLD CO.LTD 500 Rbls. Cat. D/H 1186b. blue, black. No
RUSSIA : Cert. of 25 shares of £1. purple. No 125636. Central fold. The line was built to
4175. Folds. The Nerchinsky mine was the link Moscow to the steppes region of Central
first silver and gold mine discovered in Asia, and was doubtless of military, as well
Russia, it was under the rule of Tsar Peter as commercial, importance. This was a
The Great (1702). This company was formed purely internal loan and as such much rarer
1901 to acquire mining rights over 6000 than the foreign bonds issued by this
square miles in eastern Siberia. Liquidated railroad in earlier years. Drumm/Henseler
1911. Text in English, some Russian. mentions the loan (for an amount of 10
11 February 1907 VF EUR 150 million roubles) but had not seen any bond.
470 MINIERE ET METALLURGIQUE DU For us as well, it is the first time we can offer 475 DOCKS DE LA BALTIQUE S.A.
TAMBOV S.A., SOC. a bond from this loan. In excellent condition. RUSSIA : LILLE. Action de Jouissance. red,
RUSSIA : BRUXELLES. Action Privilégiée de 1916 EF EUR 1.000 green, black. #1200. No 593. Colourful piece
F250. red, green. #22000. No 21873. Owned 473 CHANTIERS NAVALS ET CONSTRUCT- of this company, formed to develop docks
a concession of approx. 175 hectares of land IONS MECANIQUES, SOC. RUSSO-BALTIQUE and warehousing in Russian ports, not only
in the village of Sokolsk, near the city of RUSSIA : ST-PETERSBOURG. Cert. Provisoire on the Baltic Sea but on the White and Black
Lipetsk in the Don basin. pour 1 Action de 100 Rbls. Blue, black. No Seas also. The ports are listed in the border
16 October 1911 EF EUR 10 634. Large format with fold and a few splits, of the shares: Reval (=Tallinn, Estonia),
RUSSIA - various outside the printed part of the certificate. St.Petersburg, Riga (Latvia), Rostoff,
Text in Russian and French. Company Taganrog, Odessa and Nicolaieff (both
founded in 1912. In 1913, the company Ukraine), etc.
capital amounted to 10 million roubles. It 1880 VF-EF EUR 50
had its premises in Riga and was the 476 PANORAMAS & DIORAMAS
successor company of the Russian Company HISTORIQUES DE RUSSIE S.A.
for the Manufacture of Shells and Munitions RUSSIA : PARIS. Obligation de F500. brown,
of War. yellow. #1000. No 454. A most unusual
1913 VF EUR 30 panorama piece, with text in French and
474 METALLURGIQUE DE KRAMATORSKAIA Russian. Scenes of Russian military life, in
RUSSIA : UKRAINE. WARSCHAU. Action victory and defeat, with cannon, cavalry,
Privilégiée de 250 Rbls. red, black. No 12713. flags, drums, etc. The panorama was at rue
Text in Russian, Polish, French, German. Neuve des Capucines, Paris. As the statutes
Founded 1899 by August Paul Ernst von on the back of the certificate explain, the
Borsig (1869-1933) who has also signed this company also had an office in St. Petersburg.
share. He was a leading German industrialist, 1 August 1881 EF EUR 300

52
produced pig iron as well as metal objects
and machinery. First time we see scripophily
of this company. Only this one piece was
recently found.
1897 F-VF EUR 1.000

481 USINES DE CONSTRUCTION DE


MACHINES HARTMANN, SOC. RUSSE DES
RUSSIA : ST-PETERSBOURG. Action de 150
Rbls. brown, buff, black. #60000. No 42838.
Central fold. The vignette of a locomotive
evidences the company built locos. Text in
Russian and French. Signed by Hartmann.
This is a piece from the 1899 capital increase
(to 9 million roubles).
1899 VF EUR 70

477 CONSTRUCTIONS DE LOCOMOTIVES ET


MECANIQUES, SOC. RUSSE DE
RUSSIA : ST-PETERSBOURG. Cert. Provisoire 5
Actions de 125 Rbls, specimen. blue, black.
Repaired edge-splits and one larger tear
(also repaired). Large format, with text in
Russian and French.
Company founded 1895 with a capital of 3,5 479 ALLUMETTES EN RUSSIE, S.A.
million roubles. It is the oldest certificate of INDUSTRIELLE & COMMERCIALE DES
one of Russia's biggest locomotive factories. RUSSIA : ANVERS. Action Privilégiée de F100.
The founders were the French brothers blue, green. #3500. No 129. A match maker,
Stephan and Philippe Bouche who had financed with Belgian capital.
received an order from the Russian State 1898 EF EUR 50
Railroads to deliver 480 locomotives. These
were to be build in Russian by this company. 482 USINES DE CONSTRUCTION DE
While the management was seated in St. MACHINES HARTMANN, SOC. RUSSE DES
Petersburg, the factory itself was built in RUSSIA : ST-PETERSBOURG. 5 Actions de 150
Kharkov and became operational in 1897. By Roubles Or. blue, black. No 52506-10. Pin
1908, the company employed 2200 people holes. See previous lot. We can add that the
and had a turnover of 4,5 million roubles. company produced not only locomotives,
Between 1900 and 1917, 15% of all Russian but also textile machinery. Linked with the
locomotives were built by this company: German company 'Hartmann' from
2300 locos. Its major competitors were Chemnitz.
"Kolomna", "Brjansk", "Sormovo", "Putilov" 1899 VF EUR 80
and "Hartmann". The company still exists
today as Kharkov Works for Transport
Machines V.A. Mayschev. Only piece known
to us.
1895 VF EUR 2.500
478 USINES METALLURGIQUES ET
MECANIQUES D'ISTIA, SOC. DES 480 CONDUIT D'EAU CASPIEN, SOC.
RUSSIA : ST-PETERSBOURG. 10 Actions de RUSSIA : AZERBAIJAN. BAKU. Action de 250
250 Rbls. red, black. No 6681-90. Right Rbls. green, black. #4000. No 3073. Company
borders shows several splits, partly repaired name only in French and German, otherwise
and some discolouration. Folds and a few all in Russian. Company formed to acquire
pin-holes. Text in Russian (front), English and and exploit the pipelines taking water from
German (back). Company founded 1872 and the Caspian Sea to the Caucasus, supplying
by 1897 the company capital amounted to 2 the oilfields of Sabunchakh, Romanakh and
million roubles. Operated blast furnaces and Balakhanakh.
forges in Istia (Pronsky District, Ryazan) and 1899 VF-EF EUR 500

53
483 USINES DE CONSTRUCTION DE Diesel patent. By 1908 the company 488 NAPHTE DE BAKOU, SOC. DU
MACHINES HARTMANN, SOC. RUSSE DES turnover amounted to 1,5 billion roubles and RUSSIA : PETROGRAD. Action de 100 Rbls.
RUSSIA : ST-PETERSBOURG. 10 Actions de counted a workforce of 860 men. During brown, buff, black. No 12736. Text in
150 Roubles Or. red, black. No 55361-70. See WWII the company made the T34 Tank. Russian, French and German. Company
previous lots. A little staining and creases. Today the company is known as OAO RUMO. founded 1874 but this is the oldest type we
Top denomination. 1899 EF EUR 900 remember seeing (the shares of later capital
1899 VF EUR 150 increases are more common).
1906 VF EUR 100

484 ACIERIES D'ALEXANDROVSK, SOC. DES


RUSSIA : ST.-PETERSBOURG. 10 Actions de
250 Rbls. Serie 3. red, black. No 19241-50.
Folds and some small edge-splits at the left. 486 CIMENTS & GRANDES BRIQUETERIES DE
Text in Russian and French. Originally MOSCOU S.A., SOC. DES
founded in 1825 by the Russian State as a RUSSIA : BRUXELLES. Obligation de F500.
ship wharf at the Neva River in northwestern black, buff, pink. #4000. No 769. Central fold
Russia. The company was named after and trimmed left border. Cement and brick
Alexander Nevsky (1220-1263, proclaimed company, successor of the V.K.
Sinat of the Russian Orthodox Church, Prince Chapochnikoff & V. Tchelnokoff & Co. Rare 489 LAMINOIRS DE CUIVRE ET DES
of Novgorod and regarded as the key figure bond. CARTOUCHERIES DE TOULA, SOC. DES
of medieval Russia). The company made the 15 November 1901 VF EUR 50 RUSSIA : ST-PETERSBOURG. 10 Actions de
first Russian-built steamships (1827) and Rbls.187,50=F500=M405=£19.16.4. brown,
submarines (1838). From 1843, the company red, black. No 29021-30. Generally
shifted towards the production of railroad somewhat worn condition. The company
material, from rails to rolling stock. So did it was formed 1898 to roll copper sheets and
play an important role in the construction of produce cartridges for guns. Text in Russian
the Nikolai Railroad. Turned into a share- and French. Scarce high denomination.
based limited company in 1879. The 1906 F-VF EUR 500
certificate we offer - a type we had not seen
before - is part of the 2nd capital increase,
doubling the capital to 5 million. High
denomination.
1899 VF EUR 800

487 USINE MECANIQUE DE DEBALTZEVO


RUSSIA : EKATERINOSLAW. Action de 250
Rbls. green, black. No 812. A little staining at
the bottom. Text in Russian and French.
Debaltsevo is in the Donetsk region, of
eastern Ukraine, and is still today a very
important centre of engineering and metal-
working.
1905 VF EUR 50

490 LAMINOIRS DE CUIVRE ET DES


CARTOUCHERIES DE TOULA, SOC. DES
RUSSIA : ST-PETERSBOURG. 5 Actions de
Rbls.187,50=F500=M405=£19.16.4. brown,
485 RIGAER EISENGIESSEREI UND blue, black. No 27441-45. See previous lot, in
MASCHINENFABRIK, VORMALS FELSER & CO somewhat better condition.
RUSSIA : RIGA. Aktie 500 Rubel. Serie 4. blue, 1906 VF EUR 500
black. No 2729. Folds. Text in Russian and 491 LAMINOIRS DE CUIVRE ET DES
German. Company capital: 1,6 million CARTOUCHERIES DE TOULA, SOC. DES
roubles. Est. 1874 by German engineers Karl RUSSIA : ST-PETERSBOURG. Action de
Felser, William Weer and Prof. Karl D. Lowis. Rbls.187,50=F500=M405=£19.16.4. brown,
Became a limited company in 1891. Built green, black. No 38389. See previous lots,
steam engines, pumps, boilers, tubes, etc. but this is a later issue.
This Riga-based factory was one of the very 1912 VF-EF EUR 20
first in imperial Russia to use the Rudolf

54
497 ST. PETERSBURG-VOLGA WOOD
INDUSTRY CO.
RUSSIA : ST. PETERSBURG. Prov. Share of
7500 Roubles, specimen. purple, black.
Company founded in 1911 with a capital of
300,000 roubles divided into 3000 shares of
100 roubles each. This provisional certificate
was for 75 shares. Decorative border. Not
seen before by us.
1911 VF-EF EUR 1.000
492 CONDUITS D'EAU A KIEW, SOC. DES 498 FLACHS- UND JUTE-MANUFAKTUR, A-G
RUSSIA : UKRAINE. KIEV. Action de 100 Rbls. RUSSIA : ST-PETERSBURG. Aktie von 100
green, black. No 15892. Bottom right suffers Ruble. green, black. #26528. No 20927.
from water staining with brown spots and Formed in 1898 to build and operate
weakened paper. Text in Russian & French. factories in Riga, Warsaw and other cities, to
Founded in 1872 to install water-pipes in manufacture sacks and other flax and jute
Kiev, to bring water from the river Dnepr. products. Text in Russian and German. The
This share is part of a 1896 capital increase company's principal offices were in
bringing the company funds to 1,8 million St.Petersburg and Riga.
roubles. Certificate printed in 1907. 495 KIEV COFFEE HOUSE 1912 EF EUR 40
1907 F-VF EUR 100 RUSSIA : UKRAINE. KIEV. Founder Share of 10
493 USINES DE CONSTRUCTION DE Roubles. green. No 33. Large vertical fold on
MACHINES A KOLOMNA, SOC. DES the right. A delicate design, with a vignette
RUSSIA : KOLOMNA. Action de 125 Rbls. of the interior of this elegant coffee-house,
brown, black. #80000. No 16861. Formed to and a border of columns and a little
acquire and enlarge an existing Russian- Mercury. Issued to Bronislav Michailovitch
owned machine-building business near Kositzkij. Coupons paid until 1917. Colourful
Moscow. The underprint of a locomotive and rare share.
suggests one of the types of work. Text in 1907 VF EUR 400
Russian and French.
1907 VF EUR 20

499 TRANSMISSION ELECTRIQUE DE LA


FORCE DES CHUTES D'EAU, SOC.
496 CAOUTCHOUC, GUTTA, BALATA, SOC. RUSSIA : ST. PETERSBOURG. Cert.Prov. pour
INDUSTRIELLE DE (2 types) 25 Actions de 150 Rbls. purple, black. No
RUSSIA : PARIS. 1. Part de Fondateur, Série 24926-50. Text in Russian and French. The
A, brown & green. 2. Obligation de F100 5%, name in English is The St.Petersburg
Série A, green. The two certificates are, upon Company for Electric Transmission of the
issue, taped together on the left border, as a Power of Waterfalls. Est. 1897. We read that
thin book. Most unusual. The bond has 10 one idea was to use the waterfalls of Imatra
coupons cut, but the share none. We believe (near Itae-Siitola, today Finland). High
the company was active in the Russian denomination.
494 ALLGEMEINE ELEKTRICITÄTS- rubber industry, but cannot guarantee. 1912 EF EUR 100
GESELLSCHAFT, RUSSISCHE GES. 22 July 1909 VF-EF EUR 100
RUSSIA : ST-PETERSBURG. 5% Obligation von
1500 Rubel. purple, black. No 73. Text in
Russian and German. Small hole in upper left
corner. The Russian subsidiary of the giant
AEG was founded in 1901 to build a tramway
in Kiev. The German parent dates from 1887;
it was formerly the 'Deutsche Edison-
Gesellschaft für angewandte Elektrizität'. In
1905 the Russian company took over the
Elektrische Gesellschaft 'Union' of Riga. The
company had divisions in Moscow, Kiev,
Rostov, Kharkov, Warsaw, Odessa and Riga.
Its main business was the construction of
electric tramway lines and electric power
plants. This bond is part of a 1,5 million
roubles loan.
1907 VF EUR 900

55
500 TRANSMISSION ELECTRIQUE DE LA roubles. First time we see scripophily from 505 USINES POUTILOFF, SOC. DES
FORCE DES CHUTES D'EAU, SOC. this company. RUSSIA : PETROGRADE. 5 Actions de 100
RUSSIA : ST. PETERSBOURG. Cert.Prov. pour 1913 EF EUR 1.000 Rbls. Serie 2. green, yellow, black. No 65401-
10 Actions de 150 Rbls. red, black. No 8801- 05. Founded by Nikolai I. Putilov (1816-
10. See previous lot. 1880), a noble from Novgorod in 1867 to
1912 VF-EF EUR 90 provide rails for the Nikolai Railroad. Grew
into an important industrial concern
exploiting mines and producing various
metal products. Perhaps best known for its
weapon manufacturing business, already
famous in the late 19th century, but also
during Soviet times. First time we can offer
this type.
1915 VF-EF EUR 200

501 SOKOL, NORTHERN WOOD PULP AND


PAPER MANUFACTURING CO.
RUSSIA : ARCHANGEL. 5% Bond of £50.
brown, black. No 487. Folds. A paper
manufacturer. Text in Russian, English,
French. The name 'Sokol' means hawk or
falcon, perhaps a common bird in the region.
The company was founded in 1897 by Albert 506 RUSSIAN COMPANY LTD FOR OPTICAL
Surkov. The company's main wood and AND MECHANICAL MANUFACTURES
cellulose factory was in Archangel, but the RUSSIA : PETROGRAD. 50 Shares of 100 Rbls.
company had warehouses in Moscow, St. red, black. No 1001-1050. Text in Russian,
Petersburg and Rostov on Don. The company French and English. The capital value of this
is today known as the 'Association certificate was 5000 roubles. If the whole
Sokolbumprom'. Not to be confused with the capital was issued in this form, only 240
more common red £100 bond. The type we certificates were created. The company was
504 BANQUE FONCIERE DE ST-
offer here, has not before been seen by us. founded in 1913 by General Alexander
PETERSBOURG-TOULA
1912 VF-EF EUR 300 Petrovitch Möller and Konstantin
RUSSIA : ST.PETERSBOURG. Lettre de Gage
Konstantinovitch Rakusa-Suschevskij (the
500 Roubles 4,5%. Serie 9. blue, black. No
latter has signed this share). Main
12097. Trimmed left border. Text in Russian,
shareholders were the Russo-Asiatic Bank
English, French and German. Lists all the
(led by Alexej Putilov!) and the French
regions where the bank operated - not just
Schneider-Creusot concern. The latter
St.Petersburg and Tula. Unusual
owned 68% of the shares. The company
denomination.
produced photographic equipment and
1898 VF EUR 100
cameras. Later known as the Leningrad
Optical and Mechanical Manufacturers, in
short: LOMO. It still is a famous camera
maker but also sells microscopes, laser
equipment and other high-tech equipment.
Since many years, we only know of 2 pieces.
1916 EF EUR 1.200
507 V.I. ASMOLOV & CO. TOBACCO
FACTORY
RUSSIA : ROSTOV ON DON. Prov. Cert. for 50
Shares of 100 Rbls. yellow, black. No 93001-
502 SOKOL, NORTHERN WOOD PULP AND
50. Folds, also a heavy central fold with tears
PAPER MANUFACTURING CO.
and some paper loss at the right and left,
RUSSIA : ARCHANGEL. 5% Obligation de
mainly outside the printed part of the
£100. red, black. #950. No 467. Two small
certificate. This tobacco producer was
edge tears, repaired. See previous lot.
founded as early as 1857 by Wassilij
1912 VF EUR 50
Iwanovitch Asmolov in Rostov sur le Don. At
503 BALTIC PORT CO. FOR WAREHOUSES
that moment, the company had 8 people
RUSSIA : ST. PETERSBURG. Provisional Cert.
employed. The factory changed from
for 20 Shares of 100 Roubles. purple, black.
handicraft to mechanical production in 1862.
Folds. Specimen. Company capital: 560.000

56
In 1871, the firm turned into a limited 509 V.I. ASMOLOV & CO. TOBACCO No 471101-200. Central fold with 2 repaired
company: Tobacco Co. W.I. Asmolov & Co. In RUSSIA : ROSTOV ON DON. Prov. Cert. for 1 edge-tears.
1908, the company processed 1700 tons of share of 100 Rbls. brown, green, black. No 1919 VF EUR 500
tobacco, had a workforce of 1900 men and 499582. Folds. Issued in 1919, just before
realized a turnover of 2,5 billion roubles. the Red Army conquered Rostov-Don.
Nationalised after the Revolution. Today 1919 VF EUR 500
known as the "Donskoj Tabak". In this and
the following lots, we offer a wonderful
collection of different certificates issued by
this company between 1917 (company
capital: 18 million roubles) and 1919 (capital:
50 million roubles). All are extremely rare.
1917 F-VF EUR 500

513 GEOFIZIKA SHARE CO., formerly F.


SCHWABE CO.
RUSSIA : MOSCOW. Subscription Share of
100 Roubles. red, black. No 21334. Folds.
510 V.I. ASMOLOV & CO. TOBACCO The company history goes back to 1837
RUSSIA : ROSTOV ON DON. Prov. Cert. for 10 when the Swiss Theodor/Fjodor Schwabe
Shares of 100 Rbls. green, black. No 497811- founded his company in Moscow to
20. Central fold. manufacture optical and physical and
1919 VF-EF EUR 500 geodetic devices and medical tools. Became
a limited company in 1912 as "F. Schwabe
Co.". Five years later, in the midst of World
War I, the 'German' company name was
changed - hence the issue of this certificate.
Nationalised in 1919 and known until today
as the "Geophyusika-Kosmos".
1918 VF-EF EUR 300

511 V.I. ASMOLOV & CO. TOBACCO


RUSSIA : ROSTOV ON DON. Prov. Cert. for 50
Shares of 100 Rbls. brown, yellow, black. No
508 V.I. ASMOLOV & CO. TOBACCO 491351-400. Fold and two repaired edge-
RUSSIA : ROSTOV ON DON. Prov. Cert. for tears.
100 Shares of 100 Rbls. green, black. No 1919 VF EUR 500
100601-700. Folds.
1917 VF EUR 500

514 NOVGOROD COOPERATIVE UNION CO.


RUSSIA : NOVGOROD. Subscription Share of
5000 Roubles. buff, black. No 59. Generally
somewhat worn condition with strong marks
of water staining. This cooperative, founded
1917, still exists today under the name "Obl-
Potreb-Sojus". The company produces,
transports and sells agrarian consumer
goods and provides credit to small local
producers. Issued to the Waldai'sche Union
of Credit and Savings Cooperative. While
issued in 1918, we do note 2 red tax stamps
512 V.I. ASMOLOV & CO. TOBACCO showing Tsarist symbols (double eagle and
RUSSIA : ROSTOV ON DON. Prov. Cert. for the Tsar crown). Never seen before by us.
100 Shares of 100 Rbls. green, olive, black. 1918 F-VF EUR 300

57
Rico or Rich Mine, has a long and important
history.
A royal decree from 1557 allowed Mosen A.
Boteller to start the mining explorations. By
1564 the silver mine was fully equipped
(including houses, hospital,...) with up to
1300 miners, mostly slaves imported from
the Spanish colonies. Pozo Rico was as such
the first and most important mine in
Guadalcanal (province of Sevilla). It was even
said that the silver to be found in Pozo Roco
would match that of the famous mines in the
Spanish Americas (especially Peru). It was
515 HUILERIES DE ROUBAIX ET D'ODESSA also technologically very advanced, and
RUSSIA : 59 NORD. ROUBAIX. Part de served as a technical laboratory for the other
Fondateur. green. No 1289. Decorative Spanish mines, especially overseas. So they
border with a little staining at the right. already had a steam engine in use by 1606 !
Company founded 1912 to make vegetable (Patented by D. Jeronimo Ayanz y
oil in France but also in Odessa. The Russian Beaumont).
Revolution of course seized the Odessa Throughout the centuries, many different
factory. companies have mined in Pozo Rico, all with
2 July 1919 VF EUR 50 ups and downs. For instance, in the mid-19th
See also lots 11, 397. century, the "La Vigilancia" company and in
SPAIN the early 20th century "El Socorro y la
Prueba". Mining in Pozo Rico definitively
stopped in 1967, after no less than 400 years
of digging.
The share of the "Compania del Pozo Rico"
that we offer is undated. Yet, we discovered
that this French-financed company was
founded in 1768 to exploit the mines of Pozo
Rico. In 1775, the company engaged Juan
Martin Hoppensack, a German mining
engineer, as new manager. Nevertheless, the
company stopped its activities in 1778. As
such, this company fills the gap between two
516 REAL COMPANIA DE SAN FERNANDO
known mining companies in the Guadalcanal
DE SEVILLA
district: in the early 18th century, there is
SPAIN : ANDALUCIA. SEVILLA. Accion. black.
the Compania de las Reales Minas de
No 3769. The Sevilla shares are the finest of
Guadalcanal (founded 1727, shares known
the superb 18th century trading company
dated also 1727), and in the late 18th
shares of Spain.
century the Reales Minas de Cazalla y
The company was formed in 1747, with
Guadalcanal (the so-called Hoppensack-
rights to trade with all of Spanish America,
share), founded 1795 by the same
except Caracas and Havana, and to develop 518 LOAN OF THE ROYAL CONSULATE OF
Hoppensack who thus made a come-back
the textile industry of Castile. After almost CADIZ
but this time as company president.
40 years of activity, corruption and poor SPAIN : CADIZ. Emprestito 3000 Reales
The value is expressed in pesos and reales de
trading-practices brought the company to an vellon. black. No 117. Part of a loan of 2
plata. The latter currency was used in Spain
end in the 1780s. million reales to be raised by the City of
from 1642 until 1808. Coat-of-arms of the
The piece is one of the greatest classics of Cadiz (of a total of 8 million), needed by the
Bourbon King Charles III, who was King of
scripophily. The very complex design shows king for negotiations with the government of
Spain from 1759 until 1788. Part of his policy
the city and port of Seville, under the Algeria. The loan paid 8% interest, and
was to strengthen the contacts with France.
protection of San Fernando, on one side. payments to 1822 are shown. The bond,
And this matches the signatures on the
Opposite is Neptune and a fine ship. Above, engraved by Josef Rico, is very decorative. At
share: 2 of them (director and treasurer)
in medallions, are San José, the Virgin of the top are Mercury and Flora, with the arms
look French, while the third one is clearly a
Carmel and San Isidoro. There is so much of Cadiz. At the bottom are sailors, anchor
Spanish name. The certificate has a
else - see photo. The share is generally in and other marine symbols, very appropriate
completely different look than the shares
extremely fine condition, with a fully intact to the port of Cadiz. At the sides are strange
known of other 18th-century Spanish
paper seal. If you ask us, this is, on a creatures indeed - part woman, part fish,
companies. The style and wording are very
worldwide level, the prettiest of all 18th part bat. Stained at the bottom half. Only
reminiscent of the French Compagnie des
century shares. two pieces known to us.
Indes shares, and a few other French shares
15 December 1753 EF EUR 4.000 5 August 1816 F-VF EUR 500
of the period: a long and small vertical
517 COMPANIA DEL POZO RICO 519 EMPRESA DEL NUEVO MOLINO Y
format with 6 dividend coupons to be cut.
SPAIN : Accion de 100 pesos de a 10 reales SIERRA MECANICA DE ARANJUEZ
Also, it is printed on thin paper, not on
de plata. black. No 3546. Minor edge- SPAIN : MADRID. Accion de 20.000 rs.vn.
vellum. Only one other piece is known to us,
damage at top border (far above the first black on brown paper. No 2. Small stains
and sold in our March 2007 auction for 5700
coupon). over much of the certificate. Large format
EUR.
An exceptionally rare Spanish 18th century with creases. Decorative border and vignette
1768 VF-EF EUR 5.000
share, not reported in Kipfer, Torrente, or at the top showing several products, tools,
any other source. Yet, the mine itself, Pozo etc. of the grain industry. The company

58
owned a grain mill as well as a mechanical 521 AGUAS DE BARCELONA LADERA earthenware and porcelain factory in 1841.
saw machine. Located in Aranjuez, a town 42 DERECHA DEL BESOS, CIA. GEN. AN. DE Became a limited company in 1899. The
km south of Madrid at the confluence of the SPAIN : BARCELONA. Accion de 250 Pts. Serie factory continued its activities until 1982.
Tagus and Jarama rivers. Early date. Not A. green, brown, black. No 8191. Large- Very attractive large format share showing
seen before by us. format, with several repaired tears. Splendid the Monastery in combination with
1 January 1831 F-VF EUR 100 litho illustrated with floor plan and view of numerous chimney stacks and kilns, the
the factory. Seville Cathedral and more. Transfer notes
1 April 1881 F-VF EUR 120 until 1975. First time seen by us.
522 MINES DE L'ANDALOUSIE S.A., SOC. 31 October 1899 EF EUR 100
NOUVELLE DES
SPAIN : BRUXELLES. 10 Coupures d'Action de
F25. brown, yellow. No 1329. Gold mine
company financed with Belgian company,
but operating the Comte de Malartic
concession in the Penaflor municipality
(Seville province).
1 March 1890 EF EUR 20

525 AZUCARERA ALAVESA S.A.


SPAIN : VITORIA. Accion de 500 Pts. green,
orange. #6000. No 2257. Creases and a few
small edge-splits, also some brown spotting
523 MINERA JOVEN MATILDE, SOC. at the bottom. Formed 1900 in the Basque
ESPECIAL city of Vitoria to build a sugar-beet factory at
SPAIN : CARTAGENA. Accion, Cuarto 4. black. Salvatierra (in the Basque province of Alava).
No 53. Folds with small central split. Est. Decorative piece, showing the factory, and
1856 to mine (probably lead or iron ore) in scenes of harvesting the sugar-beet, also
Cartagena, Murcia. Transfer notes until 1920 flowers and leaves.
evidencing the long life of this company - 26 March 1900 VF EUR 50
quite unusual for these early Spanish mining
ventures.
15 December 1896 VF EUR 50
520 LA CONSTANCIA CANAL O GRAN
ACUEDUCTO CUBIERTO
SPAIN : VILLANUEVA Y GELTRU. Accion Nom.
de 200 Esc. black. No 415. Central fold.
Attractive piece, issued in a small town near
Barcelona, to finance its water supply by a
covered aqueduct. Pretty border with
526 ELECTRICA VITORIANA S.A. (3 types)
vignettes of the town, and showing the
SPAIN : VITORIA. 1. Accion Privilegiada de
fishing and agriculture on which the town
250 Pts, brown & green. 2. Accion de 250
lives. Beautifully engraved.
Pts, green & orange. 3. Obligacion
1 January 1872 EF EUR 200
Hipotecaria de 500 Pts, green, brown &
black. The shares have a horizontal design,
the bond is of vertical format. All show a
light bulb and an underprint of an electric
generator.
1900 VF-EF EUR 100
524 PICKMAN S.A. FABRICA DE LOZA EN LA
CARTUJA DE SEVILLA
SPAIN : SEVILLA. Accion de 3.000 Pts. green.
#600. No 134. Founded 1841 by the British
ceramist Charles Pickman using the premises
of the Carthusian Monastery of Santa Maria
de las Cuevas on the right bank of the
Guadalquivir River. The monks had been
driven out the monastery by Napoleon's
troops in 1810. Pickman set up the

59
527 MINERA LA ATILANA, SOC. (2 types) capital of 10.250.000 pesetas. Provided The artist responsible for this beautiful share
SPAIN : BILBAO. 1. Accion de 250 Pts. 2. electricity to the local farming community. is Carlos Ruana Llopis (1878-1950), a well-
Accion duplicada de 250 Pts, green & black. Design by R. Soler. Not seen before by us. known Spanish painter (especially of the
Both of same design (slight difference in 3 January 1907 VF-EF EUR 70 bullfighting theme) and designer of posters
colour). Large vignette of a woman holding a 531 OLOT & GERONA, CIA DEL FERROCARRIL and book covers. He also worked in
pick. Founded 1901 with a capital of 4 SPAIN : BARCELONA. 4% Obligacion de 500 Hollywood (making movie posters and as an
million pesetas. Mined in Linares, Andalucia. pts. Cat. 7360 B. orange, black. #5000. No adviser of bull fighting scenes,...). This
The duplicada issue is new to us. 4062. Formed in 1909 to acquire the English auction contains several Spanish shares
1901 VF-EF EUR 60 company which built the original line from designed by Llopis – a most interesting
528 VIZCAYA, DE BILBAO A DURANGO, CIA Gerona (Costa Brava) to Olot, further inland. collection in itself (see further). Probably a
DEL FERROCARRIL CENTRAL DE Line closed 1969. Decorative underprint. printer proof.
SPAIN : BILBAO. Accion de 250 pts. Cat. 9620 14 September 1909 VF EUR 30 8 October 1918 F-VF EUR 80
A1. red, yellow. #26100. No 2181. Jugendstil
border. Est. 1880 to better link the port of
Bilbao with its hinterland.
4 November 1903 EF EUR 30

534 TRANSITOS, SOC. GENERAL DE


SPAIN : VALENCIA. Accion Nom. de 5000 Pts,
unissued. brown, black. #12. Another printer
proof designed by Llopis, with train, ships at
532 TORRAS-HERRERIA Y CONSTRUCCIONES sea and an allegorical female. This shipping
SPAIN : BARCELONA. Accion de 1000 Pts, company was founded in 1918 in Valencia.
unissued. Serie A. brown, black. #10000. Seriously stained, but no edge-damaged as
Long format piece, with stains and edge- printed on thick paper. The entire company
splits (repaired), all mainly outside the capital (60.000 pesetas) was divided into 12
printed part of the share. Trimmed bottom. shares.
529 INDUSTRIAS DEL CUERO ARMADO S.A. Very fine large view of the company’s work - 1 June 1918 VF EUR 80
SPAIN : BARCELONA. Accion de 500 Pts. blue, from building factories to restoring statues 535 NAVIERA SEVILLANA S.A., CIA.
red. No 401. Very decorative share with a on columns. A lovely lady offers a laurel SPAIN : ANDALUSIA. SEVILLA. Accion de 1000
naked boy standing in the midst of a flowery wreath to the company. The company was Pts. brown. #5000. No 2239. Est. 1919 with a
design. Also a globe. This was a leather founded in 1918 (the date of this share) and capital of 5 million pesetas. The company
business. Printed on thick paper. survived until at least the 1960s. Likely a owned 3 ships and was liquidated in 1926.
30 July 1904 VF EUR 70 printer proof. 1 December 1919 EF EUR 30
29 January 1918 F-VF EUR 50

536 DROGAS Y PRODUCTOS QUIMICOS


BOFILL, S.A.
SPAIN : BARCELONA. Accion de 500 Pts,
533 TRASMEDITERRANEA S.A. unissued. green, orange, buff. #400.
SPAIN : BARCELONA. Accion Nom. de 500 Wonderful Jugendstil design with 3 different
Pts, unissued. orange, buff, black. Trimmed vignettes, each time with the classic woman-
530 ELECTRO-AGRICOLA ANDALUZA S.A. bottom border and damaged right border flower motive. A drugs and chemicals
SPAIN : VALENCIA. Accion de 500 Pts, with many splits, affecting some of the company. Today known as Grup
unissued. yellow, black. #2500. A little folded coupons. Very attractive share with a large Carbelonesa. Printer proof.
and minor stains above the printed part of vignette of a young sailor at the banks of the 2 January 1920 VF-EF EUR 120
the share. Remains of taped paper on the harbour and a big passenger ship on the 537 COSTA Y SERNA S.A.
back. Unissued and likely a printer proof. background. An important shipping SPAIN : ALBACETE. Accion de 500 Pts,
Attractive vignette of the power plant company, today part of the Acciona Group. unissued. green, black. #1000. Large format
alongside a river and farmers with cattle. Lines from Spain to the Canarian Islands, the share. Design by Llopis, showing a sitting
Also a light bubble. Founded 1906 with a Baleares and northern Africa. Hermes waiting together with goods to be

60
transported and a lorry just entering the liquidation by 1991. A printer proof. 542 ESPANA-S.A. CIA NACIONAL DE
premises. The company worked in Albacete, 30 September 1926 VF EUR 120 SEGUROS
Castilla-La Mancha. SPAIN : MADRID. Accion de 500 Pts,
19 July 1920 EF EUR 120 unissued. green, black. #10000. One small
tear near the top. Attractive large format
printer proof share with a Queen and her
lion amidst the Iberian Peninsula. The border
shows the coat-of-arms of 50 Spanish
regions. The insurance company was
founded in 1928 with a capital of 5 million
pesetas. Design by Llopis.
24 August 1928 VF EUR 50

540 INDUSTRIAS DEL HIERRO MIGUEL


IGUAL S.A.
SPAIN : VALENCIA. Accion Nominativa de
1000 Pts, unissued. Serie A. green, brown.
#2000. Strong art-déco design of men
carrying iron bars, and small vignette of a
man at a furnace. Printer proof design by
Llopis. Est. 1926 with a capital of 2 million
pesetas.
1926 VF-EF EUR 60
543 CENTRO TECNICO DE FUMIGACION Y
SANEAMIENTO, S.A.
SPAIN : MADRID. Accion Ordinaria de 500
Pts, unissued. brown, blue. #4000. Large
format share with trimmed border and a few
edge-splits. Printer proof by Llopis. Design of
a large ship and a train, both being cleaned
by the company equipment. The company
538 TERMO-ENERGIA S.A. was founded in 1929 with a capital of 4
SPAIN : BARCELONA. Tit. Prov. de acciones million pesetas. First time we see scripophily
de 500 Pts, unissued. brown. Design of from this company. Lovely piece.
electrical plant and a naked man stoking a 9 December 1929 VF EUR 100
furnace (looks like dangerous job!). 544 LA PROVEEDORA DE UTRILLAS S.A.
1920 VF EUR 50 SPAIN : ULTRILLAS. Accion de 25 Pts. red,
541 CLUB DEPORTIVO ALAVES green. No 548. Probably served the local
SPAIN : VITORIA. Bono de 25 Pts Nominales. mining industry. Utrillas is a village located in
blue, green, black. No 895. Underprint of the Teruel, Aragon.
club flag. This Basque football club was 1934 EF EUR 20
founded in 1921. It is based in Vitoria-
Gasteiz and currently plays in the Segunda
Division B. In their top season, 1999-2000,
Alaves reached the final in the UEFA Cup,
losing 5-4 to Liverpool in extra time.
1 December 1927 EF EUR 100

539 FERRER PESET S.A.


SPAIN : VALENCIA. Accion de 1000 Pts,
unissued. Serie D. brown, black. Large
format. Several edge-splits, outside the
printed part of the certificate. Trimmed 545 VITORIANA DE ESPECTACULOS S.A.
bottom border. Beautiful share, with Hermes SPAIN : VITORIA. 5 Acciones de 250 Pts,
looking at a ship at the Valencia port. Also a unissued. green-grey, buff, black. Large
steaming train. Design by Carlos Rueno format with vignette of the cinema building,
Llopis. Ferrer-Peset was founded in 1916. A est. 1931. Located in Vitoria-Gasteiz, the
year later, its fleet consisted of at least 17 capital city of the province of Alava and of
steamships. The company worked together the autonomous region of the Basque
with the Co. Trasmediterranea (see lot 548) Country in northern Spain.
and was later working from Barcelona. In 1931 EF EUR 50

61
548 TRASMEDITERRANEA S.A. 552 IMMOBILIERE DE LA RUE DE LA TOUR-
SPAIN : MADRID. 1 Accion de 500 Pts, MAITRESSE, S.A.
unissued. Serie E. green. See lot 539. A little SWITZERLAND : GENEVE. Action de F500.
brown staining, otherwise in very fine blue, black. #2000. No 1885. Heavy folds
condition. with some discolouration at the bottom.
25 June 1942 VF EUR 80 Founded Geneva, 1897. Arms of Geneva and
549 VALENCIA, CIA DE TRANVIAS Y view of the Tour-Maitresse. There are
FERROCARRILES DE, S.A. currently 5 companies of this name in
SPAIN : VALENCIA. Una Accion de 500 Pts. Geneva, each with the name and a house
green. #8000. No 3438. Vignette of a tram. number on the rue de la Tour-Maitresse.
Co. founded 1917 as a merger of 2 earlier Which, if any, is a successor to the company
Valencia tramway companies. The company issuing this share, we cannot say.
electrified the network. Nationalised in 1897 VF EUR 50
1964.
6 June 1942 VF EUR 20
550 COMISION ADMINISTRATIVA DEL
PUERTO DE PUERTO DE SANTA MARIA
SPAIN : PUERTO DE STA. MARIA. 5%
Obligacion de 1000 Pts. Serie B. brown,
546 ELECTRA DEL CABRIEL S.A., LA green. #10000. No 8932. Wide view of the
SPAIN : UTIEL. Accion Preferente de 1000 port of Santa Maria, Cadiz. The company
Pts, unissued. Serie B. blue, yellow, orange. operated the port.
Wonderful printer proof share with a large 13 December 1950 EF EUR 20
vignette of a viaduct across the Cabriel River
in a mountainous scenery. The electricity
company was founded in 1932 had was
based in Utiel, a municipality in the Valencia
Community.
1935 VF-EF EUR 100

553 GRAND HOTEL (vormals) BEAU-RIVAGE


SWITZERLAND : INTERLAKEN. Partial-
Obligation Fr.1000. green, red, black. No
651. Central fold. Fine vignette of the hotel
and surrounding area (the Alps, the River
Aar), slightly overtaped with a paper with
new interest specifications (1945). Mortgage
bond issued by the hotel owner: Herrn
Albert Döpfner. Still a stylish hotel today.
547 AGUAS POTABLES Y RIEGOS S.A. 12 November 1904 VF EUR 100
551 REAL BETIS BALOMPIE CLUB DE FUTBOL
SPAIN : VALENCIA. Accion de 1000 Pts,
SPAIN : SEVILLA. 6,95% Obligacion de 500
unissued. Serie C. blue, red. #1870. Strong
Pts. Serie B. brown, green. #32000. No 9651.
Jugendstil design, especially at top left. Also
Brown border with footballs, cups, etc.
a classic rural vignette at the bottom right.
Green underprint of football pitch. Almost all
The company provided drinking and
football club pieces are rare, and this one
irrigation water in the Valencia region. Est.
certainly is. A major Spanish first division
1923. Printer proof.
club. Brown border with footballs, cups, etc.
1 January 1935 VF-EF EUR 100
Green underprint of football pitch. Real Betis
Sevilla was founded in 1907. Won the Copa
del Rey in 1977 and 2005. Spanish champion
in 1935.
22 February 1962 EF EUR 100 554 ALLIANCE ARTISTIQUE CATHOLIQUE -
SWITZERLAND GORGE-BOEHLER & CIE.
SWITZERLAND : LA CHAUX-DE-FONDS. Action
de F100. blue, buff, red. #7500. No 2597.
Folds. A catholic artistic association located
in Chaux-de-Fonds, a city in the canton of
Neuchâtel.
24 December 1910 VF-EF EUR 50
See also lots 301, 388.
TURKEY/OTTOMAN EMPIRE
555 EUPHRATES VALLEY RAILWAY CO. LTD
TURKEY : LONDON. 10 Shares of £20. black.
No 24561. One cancellation hole.
Prior to the building of the Suez Canal, the
British Government was always thinking

62
about a route to India without sailing all branch from Banias to Nawa (40km). The issued to repay a loan of 1888, issued under
round Africa; In 1836 it funded an expedition concession also required the company to an agreement with Deutsche Bank to pay for
to explore the possibility of using start a shipping service and fishing industry military supplies purchased from Germany.
steamboats on the river Euphrates from on Lake Tiberias (Sea of Galilee). The share This, like the 1888 loan, was repayable from
Syria to the Persian Gulf. was issued to the London company which fishing, hunting and other revenues. Text in
In the 1850s the possibility of better rail links built the line. The reason for the line was French and Turkish. Very decorative
in the area were considered. Russian partly political - a British desire to stop the underprint. Printed G&D.
expansion in Persia presented a threat to region being dominated by the Germans and 1 May 1903 VF EUR 100
Britain's position in the Middle East, and a French. However, little work was done, and
plan arose for a 'Euphrates Valley Railway' to the line was never completed.
link the Mediterranean to the Gulf. One idea 30 September 1893 VF-EF EUR 90
was for a railway from the Mediterranean to
the Euphrates, then a shipping route; the
other was a railway along the whole route.
The German/Ottoman suggestion of a
Bagdadbahn (which was later built)
adversely affected the plan. There was
however Jewish support for the proposal.
The suggestion was that the Euphrates River
line could be built from Palestine/Syria, with
Jewish construction teams, who would then
settle there, or that land on either side of 559 CHIRKETI-HAIRIEI-HAMIDIE, S.A.
the line in Mesopotamia could become a OTTMANE PRIV. DE NAVIGATION A VAPEUR
Jewish homeland, in both cases giving TURKEY : SALONIQUE. Titre Provisoire de 5
Russian Jewry an alternative to emigration to Actions de 5 Ltq. brown, pink. No 6941-45.
the USA. This company was founded in Large format. Folds. Sirket-i Hayriye-i
London to construct the railway, but as far as Hamidiye. Text in Turkish and French. The
we know the works never started, probably company offered shipping services at
because of both international political Salonica, in the gulfs of Salonica and
pressure and lack of sufficient financial 557 C.D.F. SMYRNE-CASSABA ET Cassandra. The whole of this area became
means for such a big project. PROLONGEMENT, SOC. OTTOMANE DU part of Greece after 1912. Most of the
This share is not listed in the reference books TURKEY : CONSTANTINOPLE. 1 Obligation de founders were members of the Hayriye Co.
about Ottoman scripophily. It is the oldest F500=LT22 4%. blue. No 70258. Folds. Ismir- management. First time we a provisional
piece from the Ottoman region we have Kasaba Demiryolu ve Temdidi Osmanli share certificate of this company.
ever seen. This 10-share type is new to us. Sirketi. In 1891, the Ottoman government 14 September 1906 VF EUR 300
4 July 1856 EF EUR 500 wished to acquire the English owned railroad
between Izmir and Kasaba. Hence, this
company was formed in 1894 with a capital
of 16 million francs. The company paid 36
million francs to the previous English
owners, bought the railroad and took over
the operation of the 266-kilometer network.
In order to finance this, the newly formed
company issued bonds in 1894 and 1895.
This is one of the latter one, and extremely 560 CINEMAS ORIENTAUX, LES
rare. Text in Turkish, French & English. TURKEY : CONSTANTINOPLE/BRUXELLES.
1 July 1895 VF EUR 150 Action de Capital de F100. blue, buff. #1000.
No 573. Company formed in Brussels in 1910
to acquire and operate cinemas in other
countries, especially in Constantinople
(Istanbul), Turkey. Underprint of company
logo.
1910 EF EUR 80
561 ANKARA ANONIM TÜRK SIGORTA
SIRKETI
TURKEY : ISTANBUL. Insurance Policy. green,
red. No 22759. Folds and several edge-splits
at the right border, partly repaired.
Underprint of a soldier’s statue.
27 August 1956 VF EUR 10
See also lot 95.
(former) YUGOSLAVIA
562 BANK FÜR DIE KRAJINA A.-G.
556 SYRIA OTTOMAN RAILWAY COMPANY YUGOSLAVIA : BIHAC. Actie über 100 Kr.
TURKEY : LONDON. 1 Preference Share of olive, black. No 174. Text in German, Serbo-
£20. black on green paper. No 4636. Croatian and Slovene. The company name is
558 GOUVERNEMENT IMPERIAL OTTOMAN
Vignette of agricultural products, crescent & also in an Arab (?) language. Bihac is a town
TURKEY : CONSTANTINOPLE. 4% Obligation
star, etc. The line was to be built from Acre in the north-western part of Bosnia and
de F500=M408=£22. brown, pink, green,
to Damascus, via Haifa (185km), with a Herzegovina.
black. #60000. No 4015. Large format bond,
24 July 1913 EF EUR 50

63
565 UNITED GRAND LODGE OF ANCIENT, Chapter of Royal Arch Masons of England"
FREE AND ACCEPTED MASONS OF ENGLAND with a document admitting a person into the
GREAT BRITAIN : LONDON. Initiation Order, dated 1936, with several masonic
Certificate. black. No 1111. Folds. Extremely symbols. Secondly: "Supreme Council of the
beautiful engraved document with columns, XXXIII. Degree" which states that a person is
globes and various masonic symbols, also an Expert Master of the Symbolic Lodges and
coat-of-arms. Printed on vellum. Early date. is installed as Knight of the Sword, from 1945
24 May 1862 EF EUR 100 and showing the double eagle. Thirdly:
"Order of the Temple, province of North and
East Yorkshire", again a membership
certificate, dated 1946 with a large
illustration of an armored knight holding a
torch.
1936-1945 VF EUR 100
ARGENTINA

566 UNION, SOC. CIVILE (3 types)


FRANCE : 69 RHONE. LYON. Action
563 TAPRED, TERETNO I AUTOBUSNO Nominative de F100. 1. Action F100, 1865
PROMETNO D.D. (capital: 100.000 FRF). 2. Action F100, 1875
YUGOSLAVIA : ZAGREB. Share of 1000 Dinar. (capital increase to 130.000 FRF). 3. Action
blue, olive. No 298. Two black ink stains. Text F100, 1931 (capital: 265.000 FRF). The
in Slovene and Serbo-Croat. Vignettes of two company owned the masonic temple at rue
different trucks. Small format, but rather Ste-Elisabeth, Brotteaux, Lyon. The objective
nice share of this transport company. was to buy a piece of land in Brotteaux, and
1931 VF-EF EUR 60 build a house on it. The two oldest shares
show an underprint of the Temple. The 1931
share has a damaged upper left border.
1865-1931 VF-EF EUR 150

569 STATE OF BUENOS AYRES


ARGENTINA : Bond for Public Debt. black.
Folds. News of the French Revolution and
the American Revolutionary War brought
liberal ideas to Latin America. After the
French seized power in Spain, Buenos Aires
formed its own junta on May 25, 1810 and
invited the other provinces to join. It
564 ROYAUME DE YOUGOSLAVIE 567 RITE MACONNIQUE ECOSSAIS S.A., SOC. declared its independence in 1811. Military
YUGOSLAVIA : BELGRADE. 7% Cert. de 25 FONCIERE DU campaigns led by General José de San Martin
Obligation de FF.1000, specimen. Dark- FRANCE : PARIS. Action de F500. black, between 1814 and 1817 made
green, buff. Folds. Attractive government green. #600. No 72. Vignette of double- independence increasingly a reality. In 1816,
bond with text in French and Serbo-Croat. headed eagle. Est. 1886 but the history of a Congress gathered in Tucuman and finally
Printed by Chaix in Paris. Only 3707 of these the "Rite écossais" goes back to 1801 when issued a formal declaration of independence
'25 bonds' certificates were to be issued, and two brothers founded the "Scottish Rite" in from Spain. The United Kingdom officially
we have never seen any. Vignette of the Charleston, USA. Today it is one of the most recognized Argentine independence in 1825,
Yugoslavian Coat-of-arms, also in underprint. popular freemasonry groupings around the with the signing of a Treaty of Friendship,
1 June 1931 VF-EF EUR 100 globe. Only this one share is known to us. Commerce, and Navigation on February 2.
See also lot 377 and K&K Monarchy. 10 February 1888 VF EUR 200 This allowed Argentina and its states to raise
FREEMASONRY finance on the London capital market, and so
led to the Baring loan, of which this is a part.
The loan soon went into default, and
remained there until 1857, when a
settlement was reached.
Arms of Argentina. Issued to Messrs. Baring
Brothers of London. Text in English and
Spanish. Hand signed by "Don Manuel H. du
Aguirre", President of Buenos Ayres, also
endorsed and signed by the British Consul
there. Extremely early date for South
568 LOT OF 3 ENGLISH FREEMASONARY American scripophily. Scarce.
CERTIFICATES 13 January 1830 VF EUR 700
GREAT BRITAIN : All three of large format, 570 PROVINCE OF BUENOS AIRES
with folds, and of different designs. Fist we ARGENTINA : BUENOS AIRES. 4,5%
have "The Supreme Grand and Royal Schuldverschreibung M408=£20, Lit. C.

64
green, brown, black. No 6555. Very large known to collectors) and an underground Vignettes of the port and a ship in the port.
format bond, with text in German, English railway. Text in French and English. Large format,
and French. Fine allegorical vignette of 30 April 1928 VF EUR 30 with folds.
industry, commerce, agriculture, etc. Printed 24 July 1909 VF EUR 100
by Giesecke & Devrient. The loan was raised
to repay the loan of 1906 for the
reorganisation of the Banco de la Provincia.
There were very few loans for South America
raised in Germany.
November 1910 VF EUR 100

573 REPUBLICA ARGENTINA, CREDITO


ARGENTINO INTERNO 1934
ARGENTINA : PARIS. 4.5% Cert. Provisioire de
100 Pesos, unissued. purple, buff, black.
Folds. Coat-of-arms of Argentina. Text in
Spanish and French. Printed by Chaix in
Paris. First time we see a bond of this loan.
We believe this to be a possibly unique
printer proof.
24 July 1935 VF-EF EUR 200
See also lot 151.
BERMUDA
574 BERMUDA RAILWAYS INVESTMENT CO.
BERMUDA : Preferred Share of £1 each. blue.
No 75. Folds and a few pin-holes. This is the
first issued scripophily we can offer from the
Islands of Bermuda, the British Overseas
Territory in the North Atlantic Ocean.
Bermuda had a 22-mile-long railway
between 1931 and 1948 (but no more trains
today). The line crossed the whole island,
from Somerset to St. George's. It was built
571 CITY OF BUENOS AIRES upon the decision to ban all cars from the
ARGENTINA : LONDON. 5% Bond for £100. island - Bermudians were afraid cars might
purple, pink, black. #13000. No 10590. Folds drive tourists away. 577 STATE OF BAHIA
and some minor edge damage outside the 30 July 1931 VF EUR 30 BRAZIL : LONDON. 5% Bond for £20. blue,
black. #50000. No 10797. Folds and pin-
printed part of the bond. Coat-of-arms of the BOLIVIA
city. Very large format bond, part of a holes in upper left corner. Large format
575 NUEVA COMPA¥IA LIPEZ, SOC. MINERA
£2,500,000 loan marketed by Baring bond, with text in English and French.
BOLIVIA : SUCRE. 1 Accion de Bs.1000. green,
Brothers in the UK. At the time of this bond Vignette of a ship loading in the port of
black. #5721. No 542. Some staining at the
issue, Buenos Aires was working on a metro Bahia. Printed by Bradbury, Wilkinson. This
bottom, but outside the printed part of the
system (the oldest underground system in £1,000,000 loan has been fully repaid, and
share. Folds. Vignette of a miner with mining
the Southern Hemisphere), so we guess the very few pieces have survived. 67 coupons
tools. Although Bolivia has always been a
proceeds of this loan were to finance these included.
very rich mining country, very few shares -
major subway works. In those days, 22 April 1913 VF EUR 100
especially 19th century - have become
Argentina was the world's 10th wealthiest 578 C.D.F. SAO-PAULO & RIO-GRANDE S.A.
available to collectors, perhaps because
nation per capita. First time seen by us. BRAZIL : RIO-DE-JANEIRO/PARIS. 5%
there were few Bolivian companies. Only 60
20 November 1913 VF EUR 500 Obligation de F500. red, buff, black. #59259.
of the 1000Bs purchase price was paid by the
572 FERRO CARRIL TERMINAL CENTRAL DE No 505899. Large format with folds.
buyer.
BUENOS AIRES S.A. Attractive border with 2 frontal vignettes of
5 August 1886 VF EUR 40
ARGENTINA : Cert. for 5 Preferred Shares of a locomotive. Text in French, Spanish and
$100 Gold. Serie A. purple, black. No 214.
BRAZIL English. Part of a 29.629.500 francs loan.
Folds. Hole-cancelled. Text in Spanish & 576 GOUV. DES ETATS UNIS DU BRESIL Operated a 139km line between Santos and
English. Company formed 1906 in Buenos BRAZIL : PERNAMBUCO. 5% Obligation de Jundiahy and a 108km line in Bragantina
Aires, and taken over in 1949 by the F500. purple, black. No 78522. 40 million (part of the State of Para). The railway forms
Argentine Government. Owned the B.A. francs loan raised to finance works in the the natural means of transport to and from
Central Ry, the B.A. Lacroze Tramways (well- port of Recife (State of Pernambuco). the sea of most of the exports and imports

65
of the State of Sao Paulo. In the 1910s it Alfred Lowenstein, to hold his various of fighting (1835-1845). Porto Alegre is the
carried two-thirds of the world's coffee investments in Brazilian tramways and capital and largest city of Rio Grande do Sul.
supply. It was reported that the railway electric power. Rare piece. First time seen by us.
produced more revenue per mile than any Undated VF-EF EUR 80 8 July 1935 F-VF EUR 50
railroad in the Western Hemisphere. CANADA
1 April 1913 VF EUR 30

584 NEW BRUNSWICK AND CANADA


RAILWAY AND LAND CO. (LTD)
CANADA : Class C Land Share. blue. No 262.
Printed by Waterlow & Sons with embossed
seal of a loco. Each share gave right to 5
acres of land. Co. founded to build a line
579 C.D.F. SAO-PAULO & RIO-GRANDE S.A. from St. Andrews northwest through
BRAZIL : RIO-DE-JANEIRO/PARIS. 5% Charlotte and York counties to Debec,
Obligation de F500, unissued. red, buff, Carleton County, near the Maine border. The
black. #185000. Folds. See previous lot, but main line was completed in 1862 and branch
this is an earlier bond issue, part of a 92,5 lines followed in 1866 and 1868. Early date
million francs loan. Same design. This is in for a Canadian railroad share.
our view a possibly unique printer proof or 15 February 1857 EF EUR 50
an unissued reserve stock.
1 April 1908 VF EUR 100

582 UNITED STATES OF BRAZIL


BRAZIL : LONDON. 5% Scrip Certificate for
£20. red. No 331700. Issued by N.M.
Rothschild & Sons in London as a temporary
certificate for the issue of the 5% Brazil
government bonds of 1931. Not seen before
by us.
1 October 1931 EF EUR 100
585 NOBLESSE GOLD MINING CO.
CANADA : BRITISH COLUMBIA. ROSSLAND.
Shares of 10 cts. green, black. No 2. Cert.
No.2 for 10,000 shares issued to a Mr.
Schmittendorf (surely of German origin).
Decorated with three mining vignettes.
22 March 1897 EF EUR 60

580 MANAOS TRAMWAYS & LIGHT CO. LTD.


BRAZIL : 5% Debenture of £100. blue, black.
#3000. No 264. Formed 1909 to acquire from
the State of Amazonas a 60-year concession 583 PREF. MUNICIPAL DE PORTO ALEGRE
to operate the tramway and lighting in the BRAZIL : PORTO ALEGRE. 3,5% Apolice de
city of Manaos. Bankruptcy and liquidation 50$000. green. No 219. Big central split,
in 1921. Manaos is famous as the city on the repaired. Text in Portuguese.
Amazon River, in the heart of the jungle. Fine The left half of the bond shows a large
view of one of the company's trams. vignette of three horse-backed riders with
31 December 1909 EF EUR 80 swords and the date 1835 - this refers to the 586 MTS. SICKER AND BRENTON MINES
581 BRAZILIAN TRACTION, LIGHT & POWER Farroupilha Revolution, a Republican CANADA : BRITISH COLUMBIA. VICTORIA.
BRAZIL : 5 Ordinary Shares, specimen. green, uprising that began in Rio Grande do Sul in Shares of 25 cents. black, red seal. No 2098.
black. Central fold and one tiny edge-tear. 1835. The leaders were the generals Bento Unusual vignette of a wooden bridge across
Text in English and French. Vignette of an Gonçalves da Silva, Antonio de Sousa Neto a river in a forest. Larger format than most
angel on a globe. Printed by Waterlow & and the Italian fighter Giuseppe Garibaldi - Canadian scrip. Cert. for 1000 shares. Mount
Sons. The company was founded 1912 in the 3 men we see on this bond. The rebels Sicker is a a small mountain on Vancouver
Canada by the Belgian-British financier surrendered to imperial forces after 10 years Island, B.C. Copper, gold and silver was

66
discovered by three American prospectors COLOMBIA the entire island. This, of course, did not
on Mount Sicker and over the next years, 591 CORTADA DE SAN ANTONIO ETAT happen until 1900, after the Spanish-
several mines were discovered with copper D'ANTIOQUIA (COLOMBIE), SOC. DE LA American war, so it is unlikely that the
being the principal mineral. Most mining had COLOMBIA : BORDEAUX. Action de F500. bondholder received his money. Map of
ceased by 1909. buff, black. #2650. No 2118. Gold mining in Cuba, also on the reverse. Lady with arms of
18 June 1908 VF-EF EUR 80 the province of Antioquia - Sables Aurifères Cuba, and an Indian lady carrying fruit. High
du Bas-Nus. denomination.
1 February 1890 VF-EF EUR 40 1 December 1872 VF EUR 300

587 PEACE RIVER LAND AND INVESTMENT


CO., LTD
CANADA : Shares of $100. orange, black. No
229. Vignette of a buffalo. Owned 100,000
acres of fertile agricultural land in the Peace
River district, northeastern British Columbia.
The company was founded at a time many
new settlers were establishing themselves in
this region.
17 April 1914 EF EUR 50
588 WAINWELL OILS LTD
CANADA : Shares with no par value. gold,
black. No 9222. Cert. of 2500 shares. 594 CUBA RAILROAD CO.
Vignette of a large oilfield in Alberta. Taken CUBA : NEW JERSEY. JERSEY CITY. 5% Gold
over by Peninsular Petroleums in 1987. Bond of $1000. green, black. No 3765. A few
18 June 1929 EF EUR 40 pin-holes. Formed 1902 in USA by the US-
589 ANGLO WESTERN OILS LTD owned Cuba Co. as a holding company for all
592 GREAT NORTHERN CENTRAL RAILWAY
CANADA : 100 Shares. blue, black. No 122. its Cuban railroad interests. The Cuba Co.
OF COLOMBIA
Formed 1931 to look for oil in central held 60% of the shares. Owned and operated
COLOMBIA : 5,5% Mortgage Bond of £20.
Alberta, amongst others near Turner Valley. the main line (built by the Cuba Co.) running
red, green, black. #73920. No 20690. Very
Lack of initial success and lack of funds, the the length of the country, from Santiago in
large format with folds. The company's line
company went into liquidation by 1939. In the southeast to Santa Clara in the west-
ran 117Km from Puerto Wilches, on the
1943, the leases were bought by Eric Harvie. centre, where it linked to Havana. In 1926
Magdalena River, to the city of
Large oil reserves were at last found and became part of Ferrocarriles Consolidados
Bucaramanga. The bonds were secured on
Harvie got Imperial Oil interested to buy him de Cuba (the company controlling most lines
the line, but to be repaid from the revenues
out. Harvie became overnight a rich man - in the eastern half of the country).
of the customs on Colombia's Atlantic coast.
his fortune was estimated about $120 Nationalised by Castro 1960. Coupons 15-36
The company was formed London 1907 and
million. He used his fortune largely for attached.
liquidated 1920, on purchase of the line by
philanthropic uses (Glenbow Foundation, 1 July 1910 VF-EF EUR 150
the Colombia Government, which
Calgary Zoo, Banff Centre of the Arts) and
reconstructed it and renamed it the F.C.
was made an Officer of the Order of Canada.
Central del Norte. The line is now closed.
19 September 1931 EF EUR 40
Vignette of a locomotive.
590 SOGEMINES LIMITED
27 May 1909 VF-EF EUR 200
CANADA : 5 Common Shares, printer proof.
purple. Large vignette of an open-pit mine. CUBA
Text in English and French. This was a
Canadian-incorporated investment and
holding company, closely linked to the Royal
Bank of Canada and the Belgian Société
Générale. Sogemines had interests in
amongst others the Canadian cement 595 UNITED RAILWAYS OF THE HAVANA
industry. The company was basically a AND REGLA WAREHOUSES, LTD. (2 types)
vehicle of the Société Générale to re-invest CUBA : 1. Warrant for £10 Ordinary Stock,
their profits from their Belgian Congo orange & black. 2. Warrant for £100
operations. Later renamed Genstar Materials Ordinary Stock, blue & black. Cut to bottom
593 REPUBLICA DE CUBA
Ltd. and now known as Building Products & border. Text in English and Spanish. Formed
CUBA : NEW YORK. 7% Bono de 1000 Pesos
Concrete Supply LP, located in Winnipeg. 1898 to take over the railway and port
en oro. Serie C. blue, black. No 862. Central
Only scripophily we have ever seen of this business of an existing company. The rail
fold and some discolouration. The loan was
company. network, in western Cuba, was expanded to
raised in New York by Cubans wanted to
195. EF EUR 30 a length of 1200 miles by the 1920s. First
See also lots 581, 608. establish a republic independent of Spain.
time we offer these warrants.
Repayment would be made one year after a
14 March 1912 VF EUR 100
Republican government was established in

67
DOMINICAN REPUBLIC 598 USINES CENTRALES DE LA lies in Haiti. The river is used for irrigation,
GUADELOUPE, SOC. mostly for the area's important rice crop,
FRENCH ANTILLES : PARIS. Coupon and the Peligre Hydroelectric Dam situated
representing 1/10me d'une Action. brown, on it produces the country's supply of
black. #2400. No 1612. Thin paper with hydroelectricity. Extremely rare.
heavy folds, with splits - largely repaired. By 25 March 1897 VF EUR 400
far the oldest certificate we ever seen from HONDURAS
Guadeloupe - a French overseas department
in the Caribbean. The company operated 4
sugar facilities on Guadeloupe: usine
Zévallos, usine Marly, usine Bellevue and
usine Grande-Anse. The company made
good profits and merged with the Crédit
596 REPUBLIQUE DOMINICAINE colonial in 1863. Only piece known to us.
DOMINICAN REP. : BRUXELLES. Scrip of £1, 1 April 1853 F-VF EUR 200
printer proof. black. No 51616. Fold. Text in HAITI
French. Temporary bond certificate to be
given by the Dominican Republic to 601 HONDURAS RAILWAY LOAN (3 types)
European investors upon the public issue of HONDURAS : LONDON. Printer proofs. black.
a 2.75% government loan. Printed on silk or 1. 10% Bond for £20 as part of a £1 million
cotton paper as part of the production loan, 1867, text in English and French,
process, hence a possibly unique printer printer proof. 2. Obligation de 300 francs as
proof. part of a 62.252.700 francs loan, 1869, text
1 October 1897 EF EUR 100 in Spanish and French, printer proof. 3. 10%
EL SALVADOR Bond for £100 as part of a £2.5 million loan,
1870, text in English, printer proof. Folds.
Between 1867 and 1870, the Honduras
Government raised loans to build a railway
across Honduras from Puerto Caballo, on the
599 INDEMNITE DE ST. DOMINGUE - Caribbean, to the Bay of Fonseca, on the
GOUVERNEMENT D'HAITI - CAISSE DES Pacific. Repayable from the profits of the
DEPOTS ET CONSIGNATIONS line. However, Honduras defaulted in 1872
HAITI : PARIS. Cert. de Liquidation pour F350. and these loans were subject of serious
black. No 5570. Folds. Under the treaty fraud - little of the money raised ever
between France and the republic of Haiti reached the railway projects in Honduras,
(the former French colony of St.Domingue), and perhaps the whole could be called a
Haiti was to pay, over a 30-year period, 60 fraud. The line was finally completed in 1897
million francs to those French with claims by an American group. Remark that these
against the Haitian government. This is a three bonds are printer proof certificates,
certificate of entitlement to F350 to be printed on what seems to be silk or cotton
received when the payments were made by paper, used those days in the printer's
Haiti. The reverse shows that payments were production process. Something special for
indeed made in certain years. Border of oak- the advanced collector.
leaves. Rare and early piece. 1867-1870 VF EUR 300
7 April 1841 VF EUR 200 MEXICO
597 REPUBLIC OF SALVADOR LOAN OF 1889
EL SALVADOR : LONDON. Deposit Receipt of
a 5% Bond for £100, specimen. black. A
Bradbury, Wilkinson specimen. Document to
be issued by the Council of Foreign
Bondholders. This receipt was to be
exchanged with a £100 5% mortgage
debenture stock of the Salvador Railway Co.
2 May 1899 EF EUR 80
FRENCH ANTILLES

600 ARTIBONITE, CIE. FLUVIALE ET


AGRICOLE DE L'
HAITI : PARIS. Cert. d'Inscription d'Actions
Nom. de F500. pink, black. No 39. Central
fold and little edge damage. Company 602 REPUBLICA MEXICANA, DEUDA
formed 1882 in Paris to develop the use of CONSOLIDADA
the Artibonite River and its agricultural MEXICO : MEXICO. Bond of $1000. purple,
potential. The river is 320 km long, and is black. No 2128. Folds and several small edge-
Haiti's longest and most important river. Its tears. Serie 6a. Lettra F. Decorative bond of
sources are in the Cordillera Central in the 1000 pesos Fuertes. A new coupon sheet
Dominican Republic, but most of its length attached.
31 December 1885 F-VF EUR 1.000

68
traditional Indian system of land tenure that city banks (which were headquartered in
combines communal ownership with Mexico City) faced no branching restrictions.
individual use. The ejido consists of This bank played a key role in the Banco
cultivated land, pastureland, other Central System of Mexico, a banknote par
uncultivated lands, and the fundo legal redemption and clearing system for other
(town site). In most cases the cultivated land payments that operated in Mexico from
is divided into separate family holdings, 1899 until its collapse in 1913. Beautiful
which cannot be sold although they can be certificate showing amongst others different
handed down to heirs. Mexican country scenes. This is an unissued
This company was formed to manage and specimen certificate and as such not seen
operate the whole hacienda area. Shows a before by us.
very large, detailed and interesting map of 15 October 1903 EF EUR 400
the area east of Mexico City, which includes 607 EXPLOTACION Y FRACCIONAMIENTO DE
the hacienda, its railway, etc. Xico is now a TUPATARO, S.A.
large suburb of Greater Mexico City. MEXICO : MEXICO. 1 Accion Preferente de
603 FERROCARRILES DEL DISTRITO FEDERAL 15 December 1897 VF EUR 80 $100. brown, pink. #16200. No 3480.
DE MEXICO, LA CIA DE Vignette of an allegorical woman with bee-
MEXICO : MEXICO. 6% Bono de Primera hive in an agrarian setting. Part of the
Hipoteca de $100. brown, black. No 9996. business empire of Luis Barroso Arias. Rare
Attractive, large format mortgage bond with piece.
4 different engraved vignettes. Text in September 1909 VF EUR 20
Spanish and English. Its parent company was 608 MEXICO NORTH WESTERN RAILWAY
the Mexico Tramways Co. MEXICO : 10 Shares of $100. brown, black.
31 December 1896 VF EUR 100 No 6835. Fine vignette of a speeding train.
Part of the Pearson group, with interests in
many Latin American utilities. Formed in
Canada 1900 to acquire several railway
companies in the Chihuahua/Sierra Madre
area, and operated 370 miles of track.
1 April 1910 EF EUR 20

605 ESTADOS UNIDOS MEXICANOS


MEXICO : MEXICO. 5% Bond of $500=£100.
Serie 3I. green, black. #20000. No 129885. 20
million pesos loan issued by the dictator
president Porfirio Diaz to consolidate the
public debt, including railway subsidies.
Printed by Waterlow. Vignettes of the
Mexican eagle and snake, and large ladies
representing justice, commerce and the arts.
No coupons.
1 April 1898 VF EUR 180
604 NEGOCIACION AGRICOLA DE XICO Y
ANEXAS S.A.
MEXICO : MEXICO. 1 Accion de $100. blue, 609 CAJA DE PRESTAMOS PARA OBRAS DE
brown, green, red, blk. #30000. No 20926. IRRIGACION Y FOMENTO DE LA
Large format. Formed 1897, Mexico City, to AGRICULTURA
exploit the agricultural hacienda of Xico y MEXICO : MEXICO. 1 Accion de 100 Pesos.
Anexas, which lay, for those who know the red, black. No 27493. Text in Spanish,
city, just east of Lake Xochimilco. English, German and French. Large format.
Early pre-Hispanic history refers to the area Serie C. Printed by Waterlow. Coupons 7-50
around the Cerro de Xico and the Island of attached.
Xico as most of the area was underwater 12 July 1910 EF EUR 100
until relatively recently. The modern
development began in the 19th century
when Porfirio Diaz ordered the draining of
Lake Chalco which devastated the
economies of the former coastline
communities. 606 BANCO CENTRAL MEXICANO S.A.
The Mexican Revolution tried to compensate MEXICO : MEXICO. 25 Acciones, unissued.
these communities by the creation of ejidos, Serie B. red, black. Folds. Founded 1899 as a
the two largest being Estacion Xico with 507 private bank in Mexico City. Despite being a
hectares and San Miguel Xico with 250 privately owned bank, it acted as the Mexico
hectares. These ejidos, as well as the City correspondent for state banks. State
present-day city, rest almost entirely on banks were prohibited from establishing
former lakebed. The ejido was (and still is) branches outside states or regions under
village lands communally held in the Mexican bank law. In contrast, the so-called

69
610 PETROLEO, CIA MEXICANA DE Dreyfus, who actually formed the company, 616 INGENIO DE AZUCAR BUEN PASTOR
MEXICO : MEXICO CITY. 1 Accion de 500 were financiers from Alsace, who in 1862 PERU : LIMA. 1 Accion de 100 Soles. green.
Pesos. green, brown. No 4265. Vignette of founded the Banco Nacional del Peru, and #3000. No 373. Central fold. Attractive sugar
an oilfield. were well-placed to make an agreement share with large vignette showing sugar cane
1929 EF EUR 50 with the Government over guano. planting, a train, the sugar distillery and an
PANAMA 1 November 1871 VF-EF EUR 150 allegorical lady.
August 1901 VF EUR 60

613 REPUBLICA DEL PERU


PERU : LIMA. 6% Bond 500 Soles. Serie B. 617 CALSILICA, CIA DE LADRILLOS
green, black. No 646. Arms of Peru, and PERU : LIMA. Acciones de 1 Libra. green,
611 CANAL INTEROCEANIQUE DE PANAMA vignette of a lady 'Liberty'. The loan was buff, black. No 575. Owned a brickworks in
S.A., CIE. UNIVERSELLE DU raised for the construction of a customs- Lima. Vignette of the works, and bricks being
PANAMA : PARIS. Cert. d'Inscription Nom. house at the port of Callao. Three large 'fired'. Also a border in art
d'Obligations à lots. red, green. No 23866. cancellation holes. nouveau/Jugendstil. Folds and very small
Folds. Subscription certificate for a loan of 27 July 1875 VF EUR 120 splits, also several small holes.
720 million francs. We believe this piece is 1 October 1907 VF EUR 80
part of the liquidation process of the Co.
Universelle du Canal Interoceanique de
Panama which had already started in 1894.
13 January 1949 VF EUR 50
PERU

614 BANCO DEL COMERCIO DEL PERU


PERU : LIMA. 1 Accion de 1000 Soles,
unissued. black. #4000. Printed in Lima and
what we offer is a previously unseen b/w 618 DOMUS ITALICA, S.A.
printer proof. Large vignette of the Peruvian
PERU : LIMA. 5 Acciones Preferidas de 10
landscape with train, village and mountains Soles. red, black. No 62803-07. Photo
and another vignette with a ship at sea.
vignette of the Colegio Antonio Raimondi, a
31 December 1882 VF EUR 90
Lima high school. Raimondi (1826-1890) was
a prominent Italian-born Peruvian
612 NEGOCIACION DREYFUS HERMANOS Y geographer and scientist and is today a
CA. popular historical figure in Peru with many
PERU : PARIS. Accion de 1000 Soles. blue. No museums, schools, cultural institutions, etc.
160. Folds. Scene of the coast, with large named after him.
numbers of sea-birds (also fruit grown with 14 June 1930 VF EUR 80
the fertilizer), also more sea-birds, and
Indian miners. Very decorative piece, and
unusual theme. Although issued in Paris, text
is in Spanish.
615 REPUBLICA DEL PERU
An important source of chemical fertilizers
PERU : LIMA. Obligacion del Tesoro, 500
around 1870 was the deposits of guano (sea-
libras oro, unissued. black on yellow paper.
bird excrement), mined on the Pacific coast
Vignette of a train and coat-of-arms of Peru.
of South America. The thick beds of guano
Small format. A printer proof (evidenced by a
had accumulated over millions of years. This
stamp). We have not seen this Treasury note
company mined those deposits. The
before, issued or unissued.
company was formed with the cooperation
19.. VF EUR 60
of the Société Générale de France, with the 619 CONSORCIO MINERO DEL PERU S.A.
aim of producing phosphate fertilizer for PERU : LIMA. 1 Accion de 10 Soles Oro. blue,
French agriculture. The company's activities orange, black. No 353. Central fold and a
led to a scandal from the environmentalists little staining at the right border. Vignette of
of the day, who felt that the birds were 2 miners at work.
being disturbed by the mining. However, the 10 January 1944 VF EUR 60
main reasons for the company's closure 620 LIMA GOLF CLUB, S.A.
were the war between Peru and Chile, on PERU : LIMA. 1 Bono de S/o.250. brown,
the guano grounds, and the fast-growing black. No 413. Two perforation holes. The
production of nitrate fertilizer from nearby golf club was founded in 1923/24.
Chile. The brothers Auguste and Maurice 21 April 1970 EF EUR 20

70
VENEZUELA Harlem RR in 1862/3, and became its
President. This title passed after his death to
his son, William H, and in turn to his son,
Cornelius Jr. from 1886. William Henry
Vanderbilt (1843-99) was a real estate
entrepreneur & railroad executive. Son of
'the Commodore', and inherited the bulk of
his fortune. President of New York Central &
Hudson Railroad and Michigan Central
Railroad.
20 October 1873 VF EUR 100

621 VENEZUELA, CIE. DE


628 KNOX AND LINCOLN RAILROAD CO.
VENEZUELA : 44 LOIRE-ATLANTIQUE.
USA : ROCKLAND. Transfer Cert. of 2 Shares.
NANTES. Intérêt de F1000. black. No 126.
black. No 27. Vignette of a train.
Large vignette of a view of the Venezuelan
Commenced service from Woolwich to
coast, and border of tropical plants, fruits USA - railroads Rockland in 1871. Leased by Maine Central
and birds. Also, strangely, an African kudu
625 JEFFERSONVILLE RAIL ROAD CO. Railroad in 1891.
antelope! The company was formed to
USA : INDIANA. JEFFERSONVILLE. Cert. of 8 September 1874 EF EUR 20
establish maritime trade between France
two tenths Shares. black. No 331. Formed 629 DUBUQUE AND SIOUX CITY RAILROAD
and Maracaibo, leading in particular to the
1849 to build a 6-mile line. In 1862 became USA : IOWA. Cert. of 20 Common Shares of
exploitation of vast properties on the banks
part of the Jeffersonville, Madison & $100. black. No 4950. Chartered 1860 to
of Lake Maracaibo, and establish a
Indianapolis RR Co., becoming part of the build a line of 142 miles from Dubuque to
mechanical sawmill there. Only 700 shares
Pennsylvania RR in 1873. Uncancelled. Iowa Falls IA. Leased in 1867, and later
issued - this one to the Count Gustave de
20 January 1851 VF EUR 20 acquired by, Illinois Central RR. Signed by
Montessuy (mayor of Juvisy-sur-Orge and for
Morris K. Jesup. Signatures hole-cancelled.
many years an important French diplomat).
Cancelled stamp does not touch name or
The company's head office was in Nantes.
vignette of passenger train.
This is the earliest scripophily we have ever
24 April 1879 VF EUR 30
seen from Venezuela. Certainly extremely
rare.
15 September 1838 VF EUR 900

626 GRAND JUNCTION RAIL ROAD AND


DEPOT CO.
USA : MASSACHUSETTS. 6% Bond of $1000. 630 ANGAMAR MOTOR CO. OF NEW YORK
black. #450. No 419. Folds. Inc.1847 to link USA : NEW YORK. Cert. of 5 Shares of $50.
the railroads entering the city from the north black, gold seal. No 174. Very attractive
and west with its depots and wharves at East share with 4 different corner vignettes and a
Boston, and for this purpose built a 9-mile tram in the center. Founded (and signed as
622 VENEZUELAN INDIA RUBBER TRUST LTD President) by Eugene H. Angamar to build an
VENEZUELA : GUERNSEY. Warrant for 5 railroad. Income was much lower than
expected, and the company was wound up experimental smokeless and noiseless motor
Shares of £1. red. No 52466-70. for street cars. A successful test took place in
12 February 1905 VF EUR 70 in the late 1850s. The large engraving of the
Port of Boston is very high quality, and a Chicago, making 20 miles with but one
623 ESTADOS UNIDOS DE VENEZUELA charge of hot water and steam. Extremely
VENEZUELA : CARACAS. 3% Billete de Bs.500. second vignette shows the city from the sea.
Square format. Uncancelled. rare.
Serie 5a. blue, black. No 421. Folds and pin- 5 February 1879 VF-EF EUR 50
holes. Coat of arms of Venezuela. Long 1 November 1853 VF EUR 60
627 NEW YORK AND HARLEM RAIL ROAD 631 ALLEGHENY AND KINZUA RAILROAD
format bond. USA : NEW YORK/PENN. 5% First Mortgage
2 January 1906 VF EUR 200 USA : NEW YORK. Cert. of 100 Shares of $50.
black, orange. No 17097. Many cancellation Gold Bond of $1000. green, black. #500. No
624 AMARILLA GOLD MINES LTD. 242. Several lines for forestry on NY/PA
VENEZUELA : Debenture of £25. blue, black. holes, also through the signatures. Signed by
William H. Vanderbilt, as president. Various border area. Completed 1890. Defaulted
#1240. No 52. Large format bond. Founded 1892 & receiver appointed. Large format
1932 to acquire 2 alluvial concessions over vignettes of train, dog, sailors, etc. Cornelius
('The Commodore') Vanderbilt bought a piece with vignette of train emerging from a
19 sq. miles in Bolivar, Venezuela. tunnel. Uncancelled.
1 October 1935 VF-EF EUR 30 controlling interest in the New York &
1 February 1890 EF EUR 60

71
pen-cancelled. Vignette of a train in a 637 ST. CROIX AND LAKE SUPERIOR
station. Operations started in 1899. MINERAL CO.
27 July 1905 VF EUR 40 USA : BOSTON. 1 Share. black. #1200. No
659. Founded by wealthy Bostonians in 1845
to finance the explorations of geologist
George W. Brownell to find copper deposits
alongside the river Kettle and St. Croix River
and Falls, Minnesota. Early date.
4 April 1845 VF EUR 50

635 COLLECTION OF 17 EARLY RAILROAD


PIECES
USA : 1. Canajoraie and Catskill RR, unissued,
638 AURIFERE CIE. UNIVERSELLE DES MINES
183x. 2. Boston, Clinton and Fitchburg RR,
D'OR DE LA CALIFORNIE
1875. 3. Georgia RR & Banking Co., 1858. 4.
USA : CALIFORNIE. Action de F10, 2ème
Demoine Navigation and RR Co., 1855. 5.
Emission. black on orange paper. #6000. No
Boston & Providence RR, 1869. 6. Greenville
2/9358. An example of a French company
& Columbia RR, 1860. 7. Cairo RR Co., 1886.
investing in the new California goldfields. In
8. Boston, Hartford and Erie RR Co. Bond,
its prospectus, Aurifère said its F10 shares
1866. 9. Lackawanna RR Co., 1855. 10.
would surely earn F450 per year for 6 years,
County of Luzerne - Borough of Scranton
without counting 'extra dividends'. It bought
bond, 1864. 11. Indiana Southern Railway
4 machines, each equal to 80 men, to work
bond, 1866. 12. Broadway Surface RR, 1884.
the new mines. Far from earning the
13. Boston, Clinton & Fitchburg RR bond,
expected big profits, the company seems to
1873. 14. Western Maryland RR bond, 1868.
have disappeared by 1851/2.
15. Flint and Pere Marquette Railway bond,
1850 EF EUR 50
1868. 16. Blue Ridge RR bond, 1869. 17.
Columbus, Chicago & Indian Central Railway,
1868. Where no 'bond' is mentioned, the
certs are shares. Small but interesting
collection of 19th century railroad pieces.
Various dates VF-EF EUR 200

632 SAN PETE VALLEY RAILWAY CO.


USA : UTAH. 4% First Mortgage Gold Bond of 639 STANDARD OIL CO.
$1000, specimen. brown, black. Folds with a USA : OHIO. CLEVELAND. Cert. of 125 Shares
few tiny edge-splits. Vignette of a speeding of $100. black. No 58. One of the best-
passenger train. Attractive American known pieces in scripophily, partly for its
Banknote Co. specimen. The San Pete Valley importance in the history of international
Railway was a narrow-gauge railroad business, and partly for its JOHN D.
organized in 1874, but not put into 636 WESTERN NORTH CAROLINA RR - STATE ROCKEFELLER signature, one of the richest
operation until 1882. Converted to standard OF NORTH CAROLINA (81 pieces) men the world has ever known. His
gauge in 1897. The railroad was owned by a USA : 6% Bond of $1000. black, blue. We signature, as President of the company, is
group of English investors, who also owned offer 30 of the 1868 bonds and 51 bonds exceptionally clear, as is that of HENRY M.
the nearby mines (San Pete Coal and Coke dated 1869. Large format with vignettes of FLAGLER, as secretary (both are pen-
Co.) and stone quarries to transport the coal the state capitol, and female figures. This cancelled).
from the settlement of Manti to Nephi, series of bonds was denounced by the state Rockefeller (1839-1937) began his business
where the railroad was to connect with the government, who refused to repay them. career in 1855 as a bookkeeper, at a wage of
Utah Southern Railroad. Became part of the Most of the money raised disappeared into $3.50 per week. In 1863 he joined Andrews,
Denver & Rio Grande Railroad in 1908. Apart private pockets; very little reached the state Clark & Co, and in 1865 took over the
from this one specimen we offer, no other treasury. company. In this manner, at the age of 26 he
scripophily of this railroad is known. 1868+1869 VF EUR 800 controlled the world's largest oil-refinery, at
1 July 1893 VF EUR 90 Cleveland. Only five years later, along with
633 FAIRMOUNT PARK AND HADDINGTON
USA – mining & oil his brother William, his friend Henry M.
PASSENGER RAILWAY CO. Flagler, and two others, he founded the
USA : PENNSYLVANIA. PHILADELPHIA. Cert. Standard Oil Company of Ohio. In the
of 15 Shares of $50. green, black. No 59. following years he steadily acquired all the
Vignette of one of the company's electric other oil-refineries in Cleveland, then the
streetcars. A Philadelphia streetcar service. centre of the American oil industry. Capital
Signatures hole-cancelled. increases followed in 1872 and 1875, and
May 1895 VF EUR 30 the shares known to us come from this later
634 INDIANAPOLIS SOUTHERN RAILWAY issue. By 1878 Standard Oil controlled 90%
USA : INDIANA. INDIANAPOLIS. Cert. of 1 of all American refining capacity. To be able
Share of $100. olive, black. No 84. Hole- and to expand outside Ohio, it was necessary to

72
alter the form of the company, and this led
to the formation of the Standard Oil Trust.
Flagler worked with Rockefeller in Standard
Oil until 1883, when he left the oil industry
to concentrate on the development of
Florida, building railways and other
infrastructure, allowing it to start to develop
into what it is today. A great piece by all
means.
6 May 1875 VF-EF EUR 1.500
647 MOHAWK GOLD BAR LEASING &
640 JUANITA OIL CO.
MINING CORPORATION
USA : CALIFORNIA. LOS ANGELES. Cert. of
USA : NEVADA. GOLDFIELD. Cert. of 300
200 Shares of $1. black, red, silver, green. No 650 STATE OF MISSISSIPPI
Shares of $1. orange, green, black. No 445.
1648. Small format share, with a silver seal USA : MISSISSIPPI. 6% Bond of $1000. black.
Folds with a small splits (repaired). One
and green underprint of an oilfield. Owned No 614. Damaged seal and generally
punch-hole at the top border (outside the
land in San Diego County, Point Loma and wrinkled paper. Issued by the state of
printed part of the cert.). Vignettes of the
Los Angeles, also a leasehold in McKittrick Mississippi to provide $1,5 million capital for
American eagle with the Flag, a Mohawk-
and Summerland. the Planter's Bank of the State of Mississippi.
Indian and a bison. Est. 1906 with leases
25 January 1901 EF EUR 20 The bank failed and the state has always
called February, Gold Bar and Spearhead - all
in the Goldfield District, Nevada. First time failed to honour its debt. Signed by State
we see scripophily from this company. governor Abram M. Scott.
27 November 1906 VF EUR 200 1833 F-VF EUR 100
USA - various

641 WYONA IRON AND COPPER CO.


USA : COLORADO. DENVER. Cert. of 50
Shares of $1. gold, black, gold seal. No 62.
Several pin-holes. Large gold underprint of a 648 STATE OF CONNECTICUT
woman and man separated by a coat-of- USA : CONNECTICUT. Bond of 9 pounds 47 651 BANQUE DES ETATS-UNIS
arms. Owned claims known as the My Queen shilling. black. No 12630. Cut-cancelled and USA : PARIS. 6% Obligation de F2530=£100.
and Kicker Lodes, in Bridger and Battle Lake some tape on the back. Treasury Bill of 1782 Serie 1A. black. No 814. Folds with 3
Mining District, Carbon County, Wyoming. for money owed to a former soldier in the repaired splits. Certificat d'Obligation,
15 October 1901 VF EUR 50 'Connecticut line' in the War of déposée pour la liquidation de l'Emprunt
642 MASSASOIT MINING CO. Independence. The amount was due for 1839.
USA : UTAH. Cert. of 100 Shares of $1. gold, repayment in 1784. Interest was paid each Signed by Baron Alphonse de Rothschild.
black. No 109. Vignette of Abraham Lincoln. year and the capital also, when due. Signed Alphonse was the grandson of Mayer
The company owned mines at Salt Lake by Peter Colt. Ref. Anderson CT19. Amschel Rothschild (1746-1812), the
County, Utah. 1 June 1782 VF EUR 100 founder of the house. Mayer's five sons
18 April 1905 EF EUR 40 established themselves in different
643 LONGFELLOW GOLD MINING AND European cities, to continue and expand the
MILLING CO. family business. Jacob (known as James)
USA : NEVADA. GARDNERVILLE. Cert. of 40 (1792-1868) went to Paris, and founded the
Shares $1. black, gold. No 499. Mined in the Paris bank in 1817. In due course he had an
Pine Nut Mountain Range, Nevada. eldest son Alphonse (1827-1905). Alphonse
Succeeded in 1922 by the Detroit Gold had a great impact on the Paris banking-
Mining Co. Attractive share with 3 mining scene, and was particularly renowned for
vignettes. supporting new industries and new
20 January 1908 EF EUR 30 inventions. Also he encouraged the spread of
644 MUSICK MINING CO. Paris finance around the world - his view was
USA : OREGON. PORTLAND. Cert. of 400 649 PHILADELPHIA AND LANCASTER far more international than those of most of
Shares of $1. black, gold, gold seal. No 108. TURNPIKE ROAD the Paris banking world. Capital repayment
Three mining vignettes. Mining operations in USA : PENNSYLVANIA. PHILADELPHIA. 1 stamps on surrounding coupons.
Lane County, Oregon. Share. black on vellum. No 178. The 1 July 1859 VF EUR 100
1900 EF EUR 30 company was founded by William Bingham
645 VALLACITOS HYDRAULIC GOLD MINING in 1792. From the beginning it was a great
USA : ARIZONA. Cert. of 110 Shares of $1. commercial success, leading to a fever of
orange, black. No 189. Folds with small road- and bridge-building in the following
splits. Vignette of an allegorical woman with years. In 1899 the state of Pennsylvania took
light bulb and more. down the toll-gates and abolished the
1 November 1915 VF EUR 20 payment of tolls. The share was printed on
646 ARKANSAS EXPLORATION CO. vellum, and counts as the second-oldest
USA : MINNESOTA. MINNEAPOLIS. Cert. of American share with a vignette (of a horse-
652 LIFE SAVING RAFT CO.
200 Shares of $1. green, black. No 777. Folds drawn wagon on the road). A very fine piece
USA : NEW YORK. Cert. of 100 Shares of $10.
with a few small splits. Panoramic view of of this very desirable share. Signed by W.
olive, black. No 115. Manufactured a raft for
oilfields in Arkansas. Bingham.
saving life from sinking ships, and perhaps
2 January 1925 VF EUR 20 16 March 1795 EF EUR 400

73
the only share issue of this theme. Fine 656 STATE OF LOUISIANA - NEW ORLEANS, took the opportunity to start a taxicab
vignette of the life raft with shipwrecked MOBILE AND CHATTANOOGA RAIL ROAD service in New York and charge so-much per
sailors, pleased to see a ship. Issued a year USA : NEW ORLEANS. 8% Bond of $1000. mile. He imported 65 gasoline-powered cars
after the Civil War at a time the American brown, black, purple seal. No 563. Folds. from France and founded the New-York
economy (and thus the shipping business) Three vignettes - a pelican feeding her chicks Taxicab Co. to operate them. The cars were
started to flourish. Extremely rare. (symbol of the state), and two heroic ladies painted yellow to be visible from a distance.
25 June 1866 VF-EF EUR 400 for Agriculture and the Arts. By 1908 the company was running 700
653 HACKETTSTOWN NATIONAL BANK 24 April 1871 VF EUR 100 taxicabs. In the following years, competing
USA : NEW JERSEY. HACKETTSTOWN. Cert. of taxicab companies were founded, but this is
40 Shares of $50. black. No 27. Trimmed left a share from the first 'modern' New York
border. Large farming scene on top, also an taxi company! The lot includes some
allegorical woman and a beehive. The bank company correspondence, with directors'
was founded in 1855. reports and an accounts statement.
1 January 1866 VF EUR 50 21 February 1911 VF EUR 100

657 CORPORATION DE L'EGLISE


CATHOLIQUE ROMAINE DU DIOCESE DE LA
654 AMERICAN MERCHANTS UNION NOUV.-ORLEANS
EXPRESS CO. USA : LOUISIANA. NOUVELLE-ORLEANS. 5% 661 UNITED STATES TREASURY
USA : NEW YORK. Cert. of 1 Share of $100. Obligation de F100. Serie 2. black. #2000. No USA : War Bond Certificate. multicolour.
black. #180000. No 640. Fine action vignette 2059. Unusual piece, from a loan raised in Lovely certificate featuring 22 charming
of a freight carriage leaving the port. Signed Europe by the Roman Catholic diocese of multi-colored Disney characters as border.
as president by William Fargo. Fargo (1818- New Orleans. Interest and capital were These type of bonds were given to
81), born Pompey, New York, was one of payable at Paris, Lyon, Marseille, Bordeaux purchasers of WWII war bonds.
three owners of Wells & Co. (1844-50), first and Brussels. Coat-of-arms of the diocese. 13 December 1942 EF EUR 100
express firm west of Buffalo; secretary Signed by the archbishop of New Orleans.
(1850-68) of American Express, which was 31 December 1876 VF EUR 50
formed by merger of Wells & Co. with two 658 NEW YORK REAL ESTATE
other firms in 1850. Organised Wells, Fargo IMPROVEMENT CO.
& Co. for express business between New USA : NEW YORK. 6% First Mortgage Bond of
York and California (1852). Wells, Fargo $500. brown, black, gold seal. No 222. Large
merged with Pacific Express Co. in 1869. In format with folds and small splits. Vignette
1868 American Express merged with of downtown NY.
Merchants Union Express Co. to form the 1 January 1890 VF EUR 30
company issuing this share, and Fargo 659 CITY OF PROVIDENCE - STATE OF
became president. It changed its name back RHODE ISLAND AND PROVIDENCE 662 PLAYBOY ENTERPRISES, INC.
to American Express Co. in 1873. PLANTATIONS (2 types) USA : NEW YORK. Common Shares of $1.
26 December 1868 VF-EF EUR 200 USA : PROVIDENCE. 1. Sewer Loan Bond blue, grey. No CB2099. The Playboy Empire
$1000, 1892. 2. Highway Loan Registered was born in 1953, when Hugh Hefner was
Bond $1000, 1894.Both with historic 'What refused a pay rise of $5. He used his savings
Cheer' vignette. to buy the rights to the famous Marilyn
1892+1894 VF EUR 50 Monroe calendar, and put together the first
issue of Playboy magazine on his kitchen
table of his Chicago apartment. Later the
company was formed and has been around
ever since. Facsimile signature of Hugh
Hefner.
15 November 1982 VF EUR 50
655 STATE OF ARKANSAS
USA : ARKANSAS. LITTLE ROCK. 7% Bond of 663 LOT OF 83 CONFEDERATE BONDS
USA : This group includes the following
$1000. red, black. No 233. Vignette of a
bonds as catalogued by Criswell:
train, also coat-of-arms of the State and 2
Confederate Bonds: 1xCr.5, 2xCr.8, 1xCr.54,
lady portraits. Folds with small splits at the
2xCr.62, 1xCr.78, 2xCr.82, 1xCr.83, 1xCr.86,
top. Extremely rare.
14xCr.88, 2xCr.95A, 1xCr.101, 6xCr.102,
1 April 1870 VF EUR 200
660 NEW-YORK TAXICAB COMPANY LTD. 10xCr.121, 3xCr.124, 22xCr.125, 13xCr.144C
USA : Cert. of 120 Deferred Shares of 1 and from the State of North Carolina:
Shilling. brown. No A440. Folds with small 1xCr.62L. Most in very fine condition. Feel
splits - repaired. The first taxicab company in free to contact us if you need more info on
New York City was the Samuel's Electric this (or any other) lot.
Carriage and Wagon Co. (1897), renamed Various dates VF EUR 1.500
the Electric Vehicle Co. in 1898. In early See also lots 28, 30, 100, 163, 166, 289, 291,
1907, the company collapsed. Harry N. Allen 593, 594.

74
Detailed Index on Themes
BEFORE 1800 102 177 178 179 180 181 DIAMONDS 91 POLICY (insurance) 285 351 561
182 183 184 185 186 187 188 336 379 ELECTRICITY 25 29 35 59 86 100 145 159 226 PORCELAIN 524
516 517 518 648 649 228 229 362 367 368 494 499 500 526 PRINTING & THE PRESS 116 133 134 224
AGRICULTURE 2 5 32 45 46 47 52 54 63 72 73 530 538 546 581 230 233 254 256 279 353 501 502 662
97 103 112 129 153 241 249 252 289 FILM 98 122 560 661 PROPERTY 54 60 72 95 267 446 552 604
519 530 587 600 604 607 609 FISHERY 85 137 245 386 556 PUBLICITY 134
AVIATION 149 208 FOOD 5 42 54 72 85 108 111 112 120 129 RAILROADS 14 15 16 20 24 31 39 54 71 80 89 99 118
ARMS – MILITARIA 238 319 349 354 476 153 171 240 241 243 245 247 250 253 156 157 158 201 206 294 295 296 297
489 490 491 505 661 280 281 371 388 392 416 515 519 525 298 299 300 301 302 341 342 361 372
ASSOCIATIONS 103 107 109 119 191 347 616 373 374 383 398 414 449 450 451 452
514 GAS 159 226 227 343 453 454 455 456 457 472 474 481 482
AUTOS 60 138 143 144 149 155 207 208 GOLD & SILVER MINES 12 90 92 96 483 493 528 531 549 555 556 557 572
209 210 211 228 352 376 563 660 358 385 390 461 462 469 517 522 585 574 578 579 584 592 594 595 597 601
BANK & FINANCE 8 10 13 32 37 41 51 64 94 95 586 591 624 638 642 643 644 645 647 603 608 625 626 627 628 629 630 631
105 110 141 166 169 177 178 188 191 HEALTH RESORTS 164 242 257 265 276 632 633 634 635 636 656
192 193 194 253 289 331 338 364 382 377 RELIGIOUS, CHURCH 554 657
396 410 417 439 440 441 442 443 444 HOLDING COMPANIES 331 334 RESTAURANTS-CAFES 239 495
445 446 447 448 471 504 562 595 606 HOTELS 54 72 275 336 345 377 378 408 ROADS 197 293 367 368 649
614 651 653 658 495 553 RUBBER 44 63 496 622
BEER 239 244 282 284 IMPORT/EXPORT TRADE 23 30 72 134 516 SALTMAKING 393
BRICKS 128 486 617 INSURANCE 33 189 190 285 339 348 351 SHIPS & SHIPYARDS 4 65 83 125 142 151
BRIDGES – TUNNEL 187 293 520 396 413 415 542 561 160 161 196 199 200 203 204 212 223
CANALS 61 78 79 160 195 198 202 293 337 JUDAICA/ISRAEL/PALESTINE 419 440 555 286 291 293 355 356 381 384 390 473
340 520 555 611 556 475 484 503 505 518 533 534 535 537
CASINOS 257 275 408 LEATHER - FUR-TRADE 403 529 539 548 550 556 559 576 600 621 652
CEMENT, SAND, CONCRETE 360 399 401 MASONIC565 566 567 568 SHOPS - MARKETS 7 154 258 266 273 280
486 590 MEDICINE 287 513 543 405 503 595
CEMETERY 269 METAL & ENGINEERING INDUSTRY 60 81 114 SPORTS 124 135 136 255 263 264 268
CERAMICS 524 130 131 140 148 165 167 172 209 222 270 272 352 357 391 394 541 551 620
CHEMICALS 115 235 238 287 333 393 225 231 232 236 237 292 293 303 304 SUGAR 1 5 108 111 112 241 250 253 281
513 536 305 306 307 308 309 310 311 312 313 371 416 525 598 616
CITY & STATE BOND 11 14 15 17 18 19 20 21 22 314 315 316 317 318 320 321 322 323 TELEPHONE & TELEGRAPH 22 24 58 163
24 27 28 40 55 57 87 88 100 101 104 107 163 324 325 326 327 328 330 332 335 375 TEXTILE 36 38 49 150 170 223 482 498 516
173 175 176 178 186 288 289 290 292 376 398 418 470 473 474 477 478 481 THEATRE 257 259 277 545
336 354 359 363 369 370 380 389 395 482 483 484 485 487 489 490 491 493 TOBACCO 146 174 175 176 479 507 508
402 404 407 420 421 422 423 424 425 505 513 540 544 641 509 510 511 512
426 427 428 429 430 431 432 433 434 MINES (not gold, silver, coal) 9 12 48 50 54 60 62 TOURISM 262
435 436 437 438 518 558 564 569 570 65 66 75 76 93 94 106 126 152 162 214 218 TRAMS 25 54 89 118 156 157 205 361 387
571 573 576 577 582 583 593 596 597 219 220 221 222 283 293 302 309 310 549 580 581 633
599 602 605 613 615 623 636 648 650 311 312 314 317 318 328 329 330 331 TRANSPORT 43 54 143 344 654
655 656 659 661 663 333 350 358 365 366 375 400 409 411 UNIVERSITY – SCHOOL 265 278 554 618
CLOCKS & WATCHES 506 412 458 459 460 464 466 467 468 470 WATER 77 164 242 276 480 492 520 521
COALMINES 34 48 54 106 113 117 127 132 523 527 544 575 586 590 612 619 637 547
152 162 168 213 214 216 217 220 309 641 WINE & ALCOHOLS (not beer) 5 53 112 246
310 311 312 314 317 318 330 343 346 MUSIC 121 389 248 251
350 400 458 459 463 464 465 467 468 PAPER 147 224 254 WOOD 68 73 139 146 234 236 375 497 501
COLONIES 3 38 40 42 43 44 45 62 63 65 68 69 70 PERFUMERY & SOAP 274 502
72 73 74 75 76 82 84 87 PETROLEUM 56 67 138 155 215 397 480 ZOO, CIRCUS, LEISURE 389 406
COMPUTER & OFFICE EQUIPMENT 166 488 588 589 610 639 640 646
CONSTRUCTION & BUILDING 139 532 617 PHOTO & PANORAMA 122 260 261 271 476

Belgian Provinces
ANTWERPEN 17 18 63 68 74 102 105 109 120 300 365 375 411 412 458 459 461 463 NAMUR 113 117 293
126 138 144 148 151 154 155 177 397 465 470 486 522 560 596 OOST-VLAANDEREN 103 104 107 111 125
409 479 HAINAUT 108 112 127 128 131 150 306 136 139 142
BRABANT 20 23 31 66 69 70 71 72 73 75 76 102 464 WEST-VLAANDEREN 102 129 137 138 142
114 115 116 118 119 121 122 124 130 LIEGE 106 123 132 140 143 162 164 167 153 159 160 161 165 166
133 134 135 141 145 146 147 149 156 LIMBURG 110 152
157 158 163 168 219 221 293 298 299 LUXEMBOURG 330 332

Original Autographs of Famous People


BINGHAM, William 649 JESUP, Morris K. 629 ROTHSCHILD, Lionel 339
FARGO, William 654 ROCKEFELLER, John D 639 VANDERBILT, William H. 627
FLAGLER, Henry M. 639 ROTHSCHILD, Alphonse D. 732

Important Artists & Engravers


CATENACCI, H. 449 LLOPIS, Carlos Ruano 533 534 537 539 540 MUCHA, Alphonse 266
CRABBE, Charles 41 542 543 SIMON, F. 383
GRANDSIRE, Pierre-Eugène 199 200 MEHOFFER, Jozef 398 TORTOLERO, Pedro 516
LECLERC, L. 25 44
Well-known Printer Companies (complete list on www.booneshares.com)
AMERICAN BANKNOTE CO 28 166 289 328 CHAIX 12 25 39 40 43 77 78 87 201 205 224 241 GIESECKE & DEVRIENT 16 558 570
594 608 627 636 662 257 266 275 294 295 358 557 564 573 SKIPPER 13 209 466 496 567
BRADBURY, WILKINSON & CO. 55 175 176 578 579 600 WATERLOW & SONS 14 15 19 93 94 101 313
395 402 572 576 577 580 595 597 COTE LIBRE 23 72 117 135 146 458 459 314 581 584 605 609
465 486 WIESSENER 344 416

75
CENTRUM VOOR SCRIPTOPHILIE B.V.B.A. - Kouter 126 - B-9800 DEINZE - BELGIUM
Kantoor van Gerechtsdeurwaarders M. Brackeva, F. Boelens, R. De Becker, J. Huybrechs, K. Huybrechts, E. Megroedt – Grétrystraat 29 –2018 Antwerpen

VEILINGSVOORWAARDEN
1. De verkoper garandeert dat hij rechtmatige eigenaar is van het te veilen goed of daarover op rechtmatige wijze beschikken kan. Ook garandeert de verkoper dat hij
op geen enkele wijze ook op de hoogte is van het feit dat het te veilen goed op een onrechtmatige manier verworven werd en dat geen enkele derde partij rechten over
het te veilen goed kan laten gelden (verpanding, onderpand, etc.). De verkoper is volledig verantwoordelijk voor zijn verklaringen.
2. De verkoop van het te veilen ingeleverde goed, geschiedt enkel bij bemiddeling in naam van en voor rekening van de verkoper. Het veilinghuis is gemachtigd om
alle rechten van de verkoper te behartigen, volgens zijn gegeven orders en, in geval van een effectieve verkoop te handelen in naam van en voor rekening van de
verkoper. Voor het tijdstip van de volledige betaling van de verkochte goederen door de koper blijven de goederen eigendom van de verkoper, na dit tijdstip worden de
goederen eigendom van de koper. Op geen enkel moment wordt het veilinghuis eigenaar van de goederen.
3. De veiling heeft plaats bij opbod tegen kontante betaling met een opgeld van 18,15%. Dit percentage is samengesteld als volgt :
- 15 % commissie op de prijs waartegen een lot is verkocht
- 21 % B.T.W. op deze commissie.
4. De echtheid van de goederen is door de expert gegarandeerd. In geval van betwisting dient het stuk binnen de 8 dagen na de in ontvangstname worden
teruggezonden aan het veilinghuis.
5. In geval van rouwkoop, zal het lot in kwestie onmiddellijk opnieuw geveild worden.
6. De in de cataloog vermelde prijzen zijn startprijzen en er zal geen enkel lager bod aanvaard worden.
7. De geschreven kooporders zullen zorgvuldig en zonder kosten uitgevoerd worden. De eventuele verzendings- en verzekeringskosten zijn ten laste van de koper.
8. Schriftelijke biedingen dienen te geschieden in euro.
9. Onmiddellijk na de toewijzing zijn de verkochte goederen, die met de meeste zorg bewaard blijven, voor rekening en risico van de koper, en is elke reclame
uitgesloten.
10. Schade of verlies bij levering door derden (vb. postmaatschappij) is voor risico van de koper.
11. Antwerpen wordt aanvaard als de plaats waar alle verplichtingen worden afgehandeld. In geval van betwisting zullen beide partijen zich neerleggen bij de
beslissing der Antwerpse rechtbank.
12. De instrumenterende gerechtsdeurwaarder beslecht in laatste aanleg alle geschillen nopens deze verkoop oprijzende.
13. Verder gelden alle normale gangbare wettelijke voorwaarden.
14. B.T.W.-plichtige inzenders-verkopers en kopers dienen zich te schikken naar de gewijzigde en aktuele B.T.W.-richtlijnen van 2 januari 1995 (Nr. E.T. 76, E.T.
10.187, regeling voorzien in art. 58 §4 B.T.W.-Wetboek).
15. Ingeval van gelijke bieding geldt de respectievelijke voorrang van de schriftelijke bieding, vervolgens de telefonische bieding, en vervolgens de bieding in de zaal.
16. De beschrijvingen in de catalogus zijn naar best vermogen opgesteld. Eventuele fouten zijn geen reden tot annulatie van de aankoop.
CONDITIONS DE VENTE AUX ENCHERES
1. Le vendeur garantit qu’il est le propriétaire légitime du bien à vendre aux enchères ou qu’il peut en disposer légitimement. Le vendeur garantit également qu’il n’a
d’aucune manière connaissance du fait que le bien à vendre aux enchères aurait été acquis illégitimement, et qu’aucune tierce partie ne pourrait faire valoir des droits
sur le bien à vendre aux enchères (gage, sûreté, etc...). Le vendeur est entièrement responsable de ses déclarations.
2. La vente du bien mis aux enchères ne se fait que par l’entremise, au nom et pour le compte du vendeur. La maison de vente aux enchères est autorisée à défendre
tous les droits du vendeur, suivant les ordres qu’il a donnés, et en cas d’une vente effective, à agir au nom et pour le compte du vendeur. Jusqu’au moment du
payement intégral des biens vendus par l’acheteur, ceux-ci restent la propriété du vendeur; à partir de tel payement les biens deviennent la propriété de l’acheteur. A
aucun moment la maison de vente aux enchères n’est propriétaire des biens.
3. La vente a lieu aux enchères moyennant payement au comptant avec une prime de 18,15 %. Ce taux est composé comme suit :
- 15 % de commission sur le prix auquel un lot est vendu,
- 21 % de T.V.A. sur cette commission.
4. L’authenticité des biens est garantie par l’expert. En cas de contestation, la pièce doit être renvoyée à la maison de vente aux enchères dans les huit jours de la
réception.
5. En cas d’offre incorrecte ou non voulue, le lot en question sera immédiatement remis en vente.
6. Les prix indiqués dans le catalogue sont les enchères de départ; aucune offre inférieure ne sera acceptée.
7. Les ordres d’achat par écrit seront exécutés soigneusement et sans frais. Les frais éventuels de transport et d’assurance sont à charge de l’acheteur.
8. Les enchères écrites doivent être formulées en euro.
9. Immédiatement après l’adjudication les biens vendus, seront gardés avec le plus grand soin, pour le compte, aux risques et périls de l’acheteur. Toute réclamation
est exclue.
10. dommages ou perte pendant la livraison part des tiers (p.ex. la poste) est au risque de l’acheteur
11. Anvers est accepté comme le lieu où toutes les obligations doivent être exécutées. En cas de contestation, les deux parties s’inclineront devant la décision du
Tribunal d’Anvers.
12. L’Huissier de Justice instrumentant tranche en dernier ressort tous litiges pouvant naître à propos de cette vente.
13. Pour le reste toutes les conditions légales courantes seront d’application.
14. Les exposants-vendeurs et acheteurs assujettis à la T.V.A., devront se conformer aux directives modifiées et actuelles de la T.V.A. du 2 janvier 1995 (N° E.T. 76,
E.T. 10.187, règlement prévu à l’article 58 § 4 du Code de la T.V.A.).
15. En cas d’offre identique, la priorité est donné au offre écrit avant l’offre par téléphone. L’offre par téléphone a priorité sur l’offre dans la salle ;
16. Les descriptions dans le catalogue sont rédigées avec le plus grande soin. Des erreurs éventuelles ne pourront jamais justifier l’annulation de l’achat.
AUCTION TERMS AND CONDITIONS
1. The seller guarantees that he is the rightful owner of, or may legitimately dispose of, the goods being offered by auction. He guarantees also that he has no
knowledge whatever to the effect that the goods offered by auction have been acquired unlawfully, and also that no third party can claim any rights (pledge, collateral,
etc.) over those goods.
2. The sale of the goods is made by the auction-house as an agent, acting in the name of, and for account of, the seller. The auction-house is authorised to protect all
the seller’s rights, in accordance with the sales instructions given to him, and, in the event of an effective sale, to act in the name of, and on behalf of, the seller. Until
the goods sold are paid for in full by the buyer, they remain the seller’s property; only after receipt of payment in full do the goods become the property of the buyer.
The auction-house will at no time be the owner of the goods.
3. The sale takes place by auction, against payment in cash, with a premium of 18.15%. This premium is made up as follows:-
- 15 % commission on the price for which a lot is sold;
- 21 % V.A.T. on this commission.
4. The authenticity of the goods is guaranteed by the expert. Should any dispute arise, the item has to be returned to the auction-house within eight days of receipt.
5. In the event of an incorrect or unintentional bid, the lot in question will immediately be offered again for auction.
6. The prices in the catalogue are starting-prices, and no lower bid will be accepted.
7. Written buying orders will be executed carefully, and without charge. Any charges for postage and insurance will be for the account of the buyer.
8. Written bids are to be made in euro.
9. With immediate effect after the sale of the lot, the goods (which will be kept with the greatest care) are for the account of the buyer and at the buyer’s risk. No
complaints will be accepted.
10. Damage or loss during the process of delivery by third parties (eg mailing companies) is at the risk of the buyer.
11. Antwerp is accepted as the place where all obligations are to be met. In the event of a dispute, both parties agree to comply with the decision of the Antwerp courts.
12. The Process-Server acting in the matter will finally settle all disputes in connection with this sale.
13. On other matters all normal current legal terms and conditions will apply.
14.Sellers and buyers subject to V.A.T. must comply with the amended current V.A.T. instructions dated January 2, 1995 (No.E.T. 76, E.T. 10.187, rules laid down in
section 58 § 4 of the V.A.T. code).
15. In case of ex-aequo bid, the absentee bid has priority over the telephone bid. The telephone bid has priority over a bid in the room.
16.The descriptions in the catalogue are made as good as possible. Any errors are no reason to cancel the purchase.

Copyright : Any person wishing to use descriptions, or any other information, from this catalogue must obtain prior permission in
writing from Centrum voor Scriptophilie BVBA.

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