Scripophily magazine 98

It's only a matter of one or two weeks before you can expect the next issue of Scripophily magazine in the mailbox. For those who are not subscribed, here is an overview of the stories from the last August issue :

• The Anderson Motor Company
• $100,000 Denomination Chinese 1937 Liberty Bond print inconsistencies , about counterfeit Chinese bonds
• Rarity Key System , a joined communication by several auction houses 
• The bonds issued under the forced loans of Jérôme Bonaparte , a story on Westphalia Kingdom finance 
• Rafting Scripophily , highlights early timber logging and transport companies in the US
• Embossed British revenue stamps , did you know about the junction between British revenue stamps and stocks and bonds?
• Charles A Stoneham & Co mining curb brokers , a story on a remarkable mining stock brokerage firm
• Sensation at 5 centimes in 'Le Petit Journal', an updated article about this famous French newspaper company 
• An early IBM predecessor company, about the Computing-Tabulating-Recording Co
• China's Historic Foreign Bonds, by J M Thompson and M D Perry , book review 
• Pictorial Stock Certificates - Lithography and Engravings for the Graphic Art Collector, by B Brown , book review 
• Cox's Corner : We're not getting any younger , tips about specializing your collection
• other periodical topics : society matters, news, bourse reviews, auction reviews, events calendar, member classifieds, book reviews, interviews and lots of pictures of collector friends and scripophily

Did you know about the previously rare Suez canal company
where about 50 hoard certificates recently appeared?
Read about it in Scripophily magazine Nr 98 Aug 2015
-
image from Wikipedia:
Suez Canal from 1881 Young Persons' Cyclopedia of Persons and Places

Scripophily magazine is a publication from the International Bond & Share Society.

F.L.

Related links

• International Bond & Share Society (IBSS)
• IBSS on Facebook 

Archives International Auctions - part XXX

Lot 524 Larchmont Yacht Club

10 Year 5.5% $250 Gold Debenture specimen, New York, 1926

-

Founded in 1880, the club has hosted since 1885 the yearly Larchmont Race Week, 

an event featuring hundreds of boats competing and racing in Long Island Sound. 

The certificate's photo vignette shows the 1917 Larchmont Yacht Club’s flagship VARUNA.

It was the first yacht fitted out with the (Guglielmo) Marconi rig. The Varuna proved 

that the Marconi rig was the fastest. Because of the physics of how force is generated by 

wind blowing past a sail, tall thin sails give better performance upwind.

Archives International Part XXX

U.S., Chinese, Asian & Worldwide Banknotes, Coins, Scripophily, 

Historic Ephemera & Security Printing Ephemera

• Dates
• Dec 11 session one
• Dec 14 session two
• Dec 14 session three (internet and absentee bidding)
• Place : Fort Lee, NJ 
• Further info : see here

F.L.

The Brussels Stock Exchange .. on stocks

Brussels has a fascinating stock exchange building. 

Have you already had the opportunity to run up and down 

the large stairs at the entrance between the two giant stone lions. 

And did you admire the impressive pediment?  

How did the building get there in the first place?

Banque Auxiliaire de la Bourse
detail from the certificate below
double-click image to enlarge

By decree of Napoléon

The first stock exchange in Brussels was established in 1801 under the government of Napoléon in Belgium. The former Saint Augustine Convent was chosen for the original premises. After the convent buildings were sold, the exchange continued its business in the national mint, the Hôtel des Monnaies. When the mint re-opened in 1820, the brokers rented a house on the Rue Guillaume, now called the Rue Léopold. By the 1850s that building was becoming too small for the growing activity.  

Banque Auxiliaire de la Bourse
founder's share, 1895 Brussels
printed in blue color tints by Lith de la Cote Libre

Architect Léon Suys designs a larger building

In 1858, no fewer than 11 petitions for building a new and larger stock exchange building were handed to the city council. It was the eclectic design of the Belgian architect Léon Suys that was chosen for the new exchange. The building could be entered through several imposing doorways under the decorated pediments.  

Banque Auxiliaire de la Bourse
detail from the certificate above
Also the renewal coupon depicts the exchange.

Not Belgian but English entrepreneurs start building

In 1866, an agreement was made between the city council and the (English) Belgian Public Works Co Ltd for the cleansing and overvaulting of the Zenne river and the erection of  the new stock exchange building. The overvaulting made possible the construction of a wide traffic axle between the north and south railway stations. Along this axle, the mayor J Anspach wanted the construction of prestigious buildings: the new exchange would be the crown jewel. BPWC contracted the Waring Brothers, English entrepreneurs in public and railway construction, for the building of the exchange.  In 1868 on average, 99 workers and 26 horses were employed on the construction site every day.

Comptoir International de Banque et de Change
detail from the share below

Léon Suys sees a way out during the Franco-German war

In 1869, after the completion of the foundations and the substructure of the building, the architect Suys took over the Warings’ job, becoming both architect and builder. In 1870, the supply of building stone from the French quarries in Anstrude and Ravière was interrupted by the Franco-German war. A solution was found: the quarries on the English Isle of Portland could provide stone of similar colour and quality. The City of Brussels took over the management of the project after BPWC went into liquidation in 1871.  Finally in 1873, King Léopold II and Queen Marie-Henriette attended the inauguration ceremony. The building was completed in 1874. 

Comptoir International de Banque et de Change
preferred share of 100 Francs, 1901
splendid Art Nouveau design, printer unknown.

Léon Suys' stock exchange is rarely seen on share certificates

So much for a little of the history. Only a few share certificates are known with a vignette of the Brussels stock exchange.  I still know only four types of certificates:

• Banque Auxiliaire de la Bourse, part de fondateur, 1895
• Comptoir International de Banque et de Change, action privilégiée de 100 Francs, 1901. An action ordinaire is also known
• Société Financière Liégeoise, action de capital de 500 Francs, 1925, best known in unissued form
• CODEP-Banque Nagelmackers, bon de caisse, 1995, large underprint of the stock exchange, no further details known, unfortunately no image available

I would be very interested to hear about other types.

F.L.

Société Financière Liégeoise

share of 500 Francs, 1925, issued (rare)

printed by H. Wolf from Liège

References

• Ter Beurze, by Geert De Clercq (in Dutch and French), pub. Tijd 1992, ISBN: 9069660814 

PS : This article is based on the one written for the May 2006 issue of Scripophily magazine, published by IBSS.

Brussels Stock Exchange post card, around 1900

La Belle France under the hammer

Lot 400 Compagnie Générale des Services Publics de Paris et la France

This 1906 founder's share shows the map of France in the underprint 

surrounded by not less than 10 coats of arms of French cities : Paris, Marseille, 

Toulouse, Bordeaux, Rouen, Nice, Nantes, Lyon, Lille and St. Étienne.

double-click image to enlarge

Next Friday and Saturday, Mario Boone's 55th international auction of antique stocks & bonds will take place in the heart of Brussels (Hotel NH Carrefour de l'Europe). I've announced this event in my previous post. This time, I want to bring to your attention a special collection to be auctioned during the happening.

Lot 368 : Société de Constructions de Levallois-Perret
Certificat nominatif d'actions de 100 Francs, issued 1939
Formed Paris, 1893, as successors to Compagnie des Etablissements Eiffel
Rarity indication R10 (3-5 pieces known)

Société de Constructions de Levallois-Perret
detail from the certificate above
1866 Gustave Eiffel set up his own engineering office
 at 48 Rue Fouquet in Levallois-Perret. The street
was later renamed into Rue Gustave Eiffel.

France, a Walhalla in scripohily
There is no other nation that has left us so many decorative bond and share certificates like France. For many years, I've been studying auction guides, and I don't think that other countries count more artists, engravers or lithographers. I started to believe I had a good idea of what French scripophily could offer. Boy, am I wrong ! Splendour .. amazement .. rarity .. significance .. these are words that instantly crossed my mind when flipping through this collection's catalogue.

Lot 360 : Société de l'Ascenseur de la Terrasse de Saint-Germain-en-Laye
Share of 100 francs, 1899, Paris

Société de l'Ascenseur de la Terrasse de Saint-Germain-en-Laye
detail from the certificate above
design by Ch. Lapierre and engraving by A. Napier
printed by Imprimerie G. Richard

La Belle France
In this special auction 500 French stocks and bonds will be sold separately. The collection was brought together over a period of 25 years by an European collector, wishing to stay anonymous. Auctioneer Mario Boone says : “In my view, the greatest joy that comes with being an auctioneer is the privilege that one gets to see, catalogue and research truly superb collections such as this one. Despite being a leading auctioneer of French scripophily since many years, I have never before come across so many rarities and novelties as in this collection. That we can auction this collection, which has been built and treasured for decades, is deeply honouring.”

Lot 291 : Revillon Frères
500 francs share, Paris 1908
The company had fur shops in Paris, London, New York,
Moscow, Montreal and elsewhere
Only two pieces known according to the auctioneer

Revillon Frères
detail from the certificate above
grandiose design by A. Antigue
printed by Imp. Lahure

À chacun son goût

The collection covers three centuries, all major industries and themes and is also geographically most interesting. It includes not only, as mostly seen, Paris-issued shares, but also many pieces from other French cities and departments. Besides French colonial shares, the auction contains sections with French companies operating in Australasia, Asia, Africa, Europe, Latin and North America including California Gold Rush certificates. 

Lot 171 : Société Anonyme pour l'Amélioration, l'Education et
la Vente des Chevaux de Luxe de Race Française
Action de 1000 Frances à un quatre centième, 1837

Société Anonyme pour l'Amélioration, l'Education et la Vente 
des Chevaux de Luxe de Race Française
detail from the certificate above
Design and lithography by Ferdinand Séré
Printed by C. Adrien from Paris

Practical info 

• Auction date: 30 October & 1 November 2015 
• Place: Brussels, Belgium
• Further info, see here  

Lot 82 : Entreprise de Déchargement des Ports de Paris
100 Francs share, 1924, Paris
printed by Imp. Spéciale pour Titres

100 Words to improve your French scripophily skills

If you start collecting stocks and bonds from France, you need to learn a bit of French. Many words can easily be understood because they are written similarly to the corresponding word in English. Some examples : automobiles, fruits coloniaux (colonial fruit), banque (bank), compagnie (company), edit (edict), funiculaire (funicular) and navigation.

However, other expressions are less obvious to derive. Here is a list of 100 French terms that you will observe sooner or later on those nice papers. You will also find out that the French language often provides words that are pleasant to pronounce, e.g. tuilerie and messagerie fluviale. 

F.L.

Lot 361 : Société Pyrénéenne d'Entreprises
500 Francs share, 1919, Paris
The company was founded in 1919 to make dams,
hydroelectric facilities and bridges in the Pyrenees.
printed by Union des Arts Graphiques

Mario Boone - Auction 55

BEKSA was jointly set up by Sabanci and the Belgian Bekaert company 
in Turkey for the production of steel cord. The auction contains 
several specimens from the Sabanci business empire. 

Seeing this BEKSA share certificate brings back some nice memories. 
Ten years ago, I had the opportunity to visit the plant in Izmit.

double-click image to enlarge

The certificate on the cover is a 1778 share of 1000 Livres in the Compagnie de la Guyane.
The company was granted a monopoly concession for trading slaves by the King of France.
The share belonged to Jean Lafaurie (1914-2008), the former Conservateur of the 
Cabinet de Medailles of the National Library in Paris. 

Practical info 

• Auction dates: 30 October & 1 November 2015 
• Place: Brussels, Belgium
• Further info, see here 
• Tip for 2 Nov : International Scripophily Bourse, on the same place, which you may want to combine with this exhibition.

F.L.

Archives International Auctions Part XXIX

One of the first offerings of the Herzog collection : 

Lot 323 James's Port Whaling Company

1837 Share certificate in the 

'Ship Washington and her outfits for her voyage'

double-click image to enlarge

Archives International Part XXIX

U.S. & Worldwide scripophily, banknotes, coins, ephemera, 

artifacts, artwork, autographs and U.S. bonds & documents

Date & Place : 

• Session one : 24 October, 2015, Museum of American Finance, New York City
• Session two ; 29 October, 2015, Fort Lee, NJ
• Further info : see here

Tip : Session one of the auction takes place in conjunction with the Wall Street Collector's Bourse at the Museum of American Finance, Wall Street, NY.

F.L.

Related link : AIA XXIX on Coxrail News 

Exhibition : Behind the Numbers

The Brussels Stock Exchange was created by a decree of Napoleon in

1801. More, in 1807 he legalized the existence of limited companies.

Brussels Stock Exchange, 2006
Source : Ben2, Wikipedia

Discover the world of the stock exchange 

In Behind the Numbers, you can discover the secrets and the functioning of the stock exchange in the historical Bruxelles stock exchange building itself. On display are remarkable objects lent by a dozen of Belgian and foreign institutions, including a handful of authentic US stock certificates, a number of 19th century Belgian bond and share certificates (facsimiles) and one facsimile of the oldest stock from the Westfries Archives in Holland (see also here).

Learn and experience about the numbers

The exhibition, an initiative by TREETOP ASSET MANAGEMENT, consists of three parts:

1. What is the stock exchange ? provides non-specialists with the prerequisite keys for reading, in order to help follow the rest of the exhibit.
2. A history of stock exchanges shows the evolution of the stock exchange in parallel with economic development, in Europe first, later worldwide. 
3. How does the stock exchange work ? shows how the stock exchange forms as part of the economy, and how it benefits those who use it.

Christophe Gaeta, the scenographer of the Antwerp Red Star Line Museum, did the scenography for this exhibition as well. Gaeta created three immense cylinders, encircled by ticker tape, to evoke the constant whirlwind of stock market information. Inside the cylinders, visitors will be able to discover surprising interactive and entertaining installations (video mapping). Furthermore, the artist Charles Sandison reveals his artistic view on the stock exchange in a special piece of art 'The Mirror Room'.

The front certificate on display here, is a 1920 Ansonia Clock Company stock certificate.
This clock manufacturing business started in Ansonia, Connecticut, in 1851. It moved
to Brooklyn, New York, in 1878 and produced hundreds of clock models. After WWI
the company faced fierce competition. In 1929 the majority of the machinery and tooling
were sold to the Soviet government's US trading company Amtorg, just before the
stock market crash. The parts, machinery and key skilled workers were shipped out of
the USA to form the basis of the clock and watch industry in Moscow,  e.g.: Poljot.
Source: Wikipedia; Copyright picture: Serge Marteaux

Practical info

• Place: Brussels Stock Exchange building, Place de la Bourse, Brussels
• Duration : 4 September - 8 November 2015
• Opening hours: Tuesday to Sunday, 10 am to 6 pm. Last admission at 5 pm.
• Ticket price:  € 8, free entrance for young people (0 to 18 years), students and schoolgroups
• More info, see here (English), here (French) or here (Dutch)

F.L.

Tip : interested in antique stocks and bonds ?
On 1 November the Boone's international bourse of antique stocks and bonds takes place at the Bruxelles NH Carrefour de l'Europe Hotel, by foot less than 10 minutes away from the exhibition. See more there.

HWPH - Auction 39 and 40

HWPH Auction 39

cover: Preussische Boden Credit Actienbank

Share of 200 Thaler, Berlin, 1873

printed by Preußische Staatsdruckerei

Lot 105 in HWPH Auction 39

Potosi, La Paz & Peruvian Mining Association

Consolidated Share of £ 15, London, 1827

design with early lathe work printing by John Ellis

--

One of the first Bolivian mining companies as 

Bolivia's independence was proclaimed on July 10, 1825. 

double-click images to enlarge

The coat of arms of Bolivia depicts
the Potosi silver mountain with a sun rsing above it.

HWPH Online Auction 40

cover: Ushitschko Akzionarsko Druschtwo "Zlatibor"

5 Shares of 200 Dinar

Uzice, Yugoslavia, 1921

• Date: 17 October 2015  - Auction 39 ;  19 October 2015 - Auction 40
• Place: Auction 39, Wiesbaden, GERMANY
• Further info, see here

F.L.

#‎scripophilychallenge

detail from the share certificate below
signature of the artist Tomasz in lower right border
double-click image to enlarge

Collector gems on Facebook

Last week a collector friend tagged me in a Facebook post. I was pleasantly suprised reading that he "nominated" me for the #scripophilychallenge. Cool. The idea is that, once nominated, you post an image of your favorite bond or share certificate on Facebook, explain briefly why you like it, and, important, that you nominate three other collector friends. Certainly an opportunity to discover what more scripophily gems are out there. Sounds like fun, doesn't it.

Compagnie de L'Ouémé-Dahomey
100 Francs share, Paris 1899
my "scripophilychallenge"

This is how it works 

According to the rules of the game, you have three days to react after you've been tagged in a #scripophilychallenge message. 

1. Use the hashtag #scripophilychallenge in your post, that way others can click it and find all related posts.
2. Upload your image and tell something about it.
3. Nominate three other collector friends. Tag them in your post like this: type @ and then type the friend's name.
4. Ask them to post their favorite certificate and nominate three more people within three days . 

Facebook stock certificate specimen
Source: U.S. Securities and Exchange Commission

Be careful

Basically, the game is an online chain letter which contains a message that attempts to convince the recipients (the nominated ones) to make a number of copies of the message and then pass them on to a number of recipients. The scripophily community on Facebook isn't a big one, so be careful, try to nominate friends who have not been nominated yet. Otherwise, your friends might end up getting nominated ten times a week for the entire season.

F.L.

IBSS Mail Bid Auction - October 2015

The International Bond and Share Society, sets its next (members only) auction date to 2 October 2015. This auctions counts more than 200 lots, representing about 40 countries and an equal number of themes. 

Paleis voor Volksvlijt te Amsterdam

in English: Amsterdam Crystal Palace

Share of 2.5 Gulden, 1869

lot 138 in the auction

double-click image to enlarge

--

Founded 1856 to exploit a building for national and international exhibitions

 of industry, theatrical and musical performances. The palace, based on 

Paxton’s Crystal Palace in London, was completed near the Frederiksplein 

in Amsterdam, 1864. Erected with glass and iron, it was the creation of 

Cornelis Outshoorn. Unfortunately, a fire destroyed this building on 18 april 1929.

(Description: Boone catalogue 2009 March)

--

The Dutch word "Volksvlijt" can be interpreted as diligence by the people.  By the 

mid 19th century, modern society urged people to hard work because labor promoted 

health and gave joy to life. However, early socialist beliefs soon stated that the concept 

of "hard work" was only a means to create more wealth for the people in the upper classes.

Amsterdam Crystal Palace, ca. 1890s

Source: Jacob Olie , via Wikimedia Commons

Practical auction info :

• Date : October 2, 2015
• Place : not applicable, this is a mail bid auction only
• Auction catalogue can be downloaded here, where also the images of the lots can be viewed.

F.L.

Archives International Auctions - Fall Auction 2015

lot 908 Pennsylvania Edison Company

Successor to Pennsylvania Utilities Company

First Mortgage Sinking Fund Gold Bond, Series A, specimen, ca. 1920s

The auction includes four more "Edison" named scripophily lots.

Archives International Part XXVIII

U.S. & Worldwide Banknotes, Coins, Scripophily, 

Historic Ephemera & Security Printing Ephemera

This auction contains approximately almost 600 lots of scripophily.

• Date : 17 September, 2015
• Place : Fort Lee, NJ 
• Further info : see here

F.L.

Syria

view of the city of Damascus and the Umayyad Mosque

Millions of Syrian families have left their destroyed country in search for better human conditions. So far, a few hundred thousand parents and children made a dangerous journey to Europe in order to find a better life. There are many more to come. Few of Europe's national leaders recognize the current scale of this tragedy and realize how the refugee problematics will evolve. These capable politicians are prepared to take fully fledged measures. Bravo Germany, "a strong country will manage", indeed.

Other European politicians do not dare to take the right decisions. They forgot that, long ago, our great-grandparents were also, in times of war, on the run with children and elderly. And our great-grandparents sought and found protection in European countries too.

Yes, this is not the usual scripophily post, but I feel upset about how slow some of our national leaders are addressing the situation. They should be aware that the decision whether or not to provide shelter, relief and care, is not a political but a humane one.

F.L.

Société Foncière de Syrie
Share of 500 Francs, Paris, 1923
design by Lucien Leclerc
Source: Wertpapierwelt
double-click image to enlarge

Société Ottomane du Chemin de Fèr de Damas-Hamah et Prolongements
Share of 500 Francs, Constantinople, 1901
Printed by Chaix, Paris
Source: Wertpapierwelt

Société Anonyme de la Fabrication Ciments et de Produits Constructives
Nominative share, 1950, Aleppo
Source : Boone Auction Sep 2006

Syrian Ottoman Railway Company Limited
One preference share, 1893, London
Source: Wertpapierwelt

Tramways et Électricité de Damas Société Anonyme
share of 500 Francs, Brussels, 1928
printed by J. Verschueren
Source: Wertpapierwelt

Fabrication de la Bière, Société Anonyme Syrienne
Share of 200 Syrian Pounds, 1959, Aleppo
Source : Boone Auction Sep 2006

Exhibition : Can luxury be a sin

Luxury is necessary. Luxury brings progress, and 

it exists everywhere in al layers of the society. 

Whether or not you agree with the above bold statements, 

this exhibition may teach you a lot about yourself 

more than any other scripophily exhibition before.

Image courtesy by Wertpapierwelt

What is luxury? 
Kann denn Luxus Sünde sein - Can luxury be a sin, the new temporary exhibition from Wertpapierwelt, examines various aspects of this age-old question. On display are not only objects that can be assigned to individual aspects of luxury but also about 50 shares and bonds of companies that "produced" luxury. The exposition investigates the complexity of the subject along with all its social and economic facets. Dagmar Schönig, curator of Wertpapierwelt, clarifies Visitors will find out what different emotions that the mere word luxury evokes in each and every one of us .

John Mackintosh & Sons, Limited
10% cumulative preference shares of one pound, specimen
printed by Waterlow & Sons, London
Image courtesy by Wertpapierwelt
double-click to enlarge

Digital information at your fingertips

A premiere for scripophily exhibitions, visitors can make use of the Wertpapierwelt app on their Apple or Android smartphone.  The app was created as a digital museum guide in German, English and French. Visitors can also borrow a tablet-pc and walk through the room. Whenever they are interested in learning more about a specific item, they can photograph the QR-code attached to it and get all the information including the high resolution images of the exhibited stocks and bonds.

Wertpapierwelt's app can be used
on Apple and Android devices.

Wertpapierwelt
Wertpapierwelt is run by the Stiftung Sammlung historischer Wertpapiere (Foundation "Collection of Historical Securities"). The museum is located in the town of Olten, only a one hour's drive away from Zürich, Bern and Basel.

John Mackintosh and Sons, Limited
detail from the share certificate above
Mackintosh started producing Toffee-De-Luxe chocolate sweets in 1917.
Today we still know Rolo and Quality Street goodies,
which Mackintosh brought to the market in the 1930s.
Image courtesy by Wertpapierwelt

Practical exhibition info :

• Place to be : Wertpapierwelt Museum, Baslerstrasse 90, Olten, Switzerland
• Opening hours : Tuesdays and Wednesdays, 9:30 a.m. to 5:00 p.m
• Entrance: free entry for ages under 10, CHF 8.00 for ages under 18 and CHF 10.00 for adults; free entrance with the Swiss Museum Pass
• Special arrangements possible for groups and guided tours, see here 

Wertpapierwelt's one-minute teaser video.

The 9-minute movie can be seen here on the museum's YouTube channel.
The Swedish singer/actress featuring in it, is the very special Zarah Leander .
The original song title is “Kann denn Liebe Sünde sein” (Can love be a sin). 

For the video the museum adapted the song's lyrics and 
had a professional singer to dub it.

F.L.


Two tips for visitors with extra time:
1. Can luxury be a sin is actually a part of a threefold exhibition. These are the two permanent sections :

• Shares & Co - How financial instruments work, displays the multifaceted nature of financial instruments and their workings.
• The Story of capitalism – How shares changed the world is devoted to the origin and spread of the joint stock company throughout the last 400 years.

2. A fictitious trading workplace has been setup with two PCs having access to the collection's database. The database contains both the fronts and backs of all the approximate 10,000 securities in the collection.

Related links

• Further info about the exhibition : in English, German and French
• Wertpapierwelt museum 
• More on CoinsWeekly | MünzenWoche 
• An earlier interview with curator Dagmar Schönig