Antwerp Hilton hosts Boone's auction of historic share certificates.

Mario Boone's 72nd auction features more than 1500 lots of scripophily from all over the world. The word scripophily is a contraction of the English word “scrip”, a certificate entitling ownership right, and the Greek word "φίλος" (philos), meaning "friend". It refers to the field of collecting of antique stocks and bond certificates.

This 1905 share from the Grands Magasins du Printemps tells us what this famous department store from Paris stood for: "Bon Marché - Qualité -Nouveauté - Élégance", in English: Cheap - Quality - Novelty - Elegance. Today a chain of department stores, Printemps offered high quality goods at prices affordable for the middle class. The store pioneered with discount sales to clear outdated stock, and used window models to display the latest fashions. L(ot) 350 in the auction starts at €200 

Two auction catalog volumes are available online and can be downloaded separately as PDF documents. Nearly all of the 180 pages in the main catalog include color images and background stories of the certificates to be hammered. For easy retrieval purposes, search indexes help the collector on his quest for engravers, artists, security printers, Belgian provinces, more than 80 countries and an equal number of special interest themes. 

The TOP 80 auction highlights are documented in a separate volume with bigger pictures and more detailed descriptions. 

This fascinating share in the merchant frigate Le Saint Philippe was signed by its captain Jean Daragorry in 1746. At this time it was the practice to finance the fitting-out of a ship on a one voyage at a time basis.  Le Saint Philippe, equiped with 18 6-pound ball cannons and a crew of 80, sailed under Spanish flag to Campeche and Tabasco in Mexico. At this date, France and Spain were at war with England over the Austrian Succession. Lot 786 is one of the Top 80 highlights of the sale and is expected to realize at least €2,400. 

The auctioneer managed to present some old collections that now have become available to the market including Belgian coal mining, British Railroads, Belgian Trams in Italy, Chile and Brazil. Some of these (check the catalog) are first offered as a complete collection in one single group lot. Only if no bids are received for the complete collection the individual certificates will be auctioned one by one. 

The auction features a few airline stock certificates. This is L1518, a nominative share from the Navegação Aérea Brasileira, issued in Rio de Janeiro, 1941. The certificate is listed at a €50 start price, a steal if you ask me, but it may be hammered as part of a collection of 393 Brazilian securities, L862, that is first offered as a single group at €7000. 

The Boone auction will take place at a new venue, the Hilton Old Town hotel in the heart of Antwerp. It was built in neoclassicism style in 1859 and served as a hotel and department store. You might want to spend a weekend in Antwerp because the day after the auction a scripophily bourse is organized by Guy Bertrand at the same place.

This stock was issued in 1918 to Elizabeth Huidekoper, the wife of Henry P Kidder, co-founder of Kidder, Peabody & Co. A regular donor to charity causes she also made gifts to the Boston Museum of Fine Arts. The certificate is also signed by Alice Evelyn Hay Wadsworth, known for her "Wadsworthy" tactics. Both women were high-society figures. The Woman Patriot Publishing Company was a publisher of The Woman Patriot, a "National Newspaper for the Home and National Defense Against Woman Suffrage, Feminism and Socialism". L1218, a rare stock representing a remarkable era in the field of women’s rights and American suffrage, starts at €240. 

There is a lot to discover, so here are the auction details :

• Location: Antwerp, Belgium (new venue: Antwerp Hilton Old Town)
• Date:  27 April, 2024 
• Further info: online catalog & bidding, see here on the auctioneer's website, or via the Invaluable platform, see there. The two PDF catalogs can be downloaded from the auctioneer's site.

F.L.

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Spink's summer scripophily sale brings us to New Zealand, Mexico and beyond

Precisely 496 lots of scripophily will go on Spink's E-block. At stake are antique stocks and bonds from all continents. Large sections are reserved for scripophily from Australia, New Zealand, Great Britain, Latin America and the USA. This online sale already took off at 17:00 June 16. The bidding window closes on Jul 5 at 11:00. 

This is L(ot) 182 from the European section. The Société Française de Phonographes "La Fauvette" was incorporated in 1900 in Paris. The company's major product was "La Sirène", an early cylinder gramophone player that could play "Ideal" (large format) cylinders with a duration of up to 12 minutes.  La Sirène is depicted on this 1902 share, together with a fauvette (warbler bird). 

Spink's upcoming sale features many bonds and shares from Australia, New Zealand, and even one from the British Solomon Islands. A few examples : 

• L5 is 5 shares certificate in The Railway Construction and General Development Company (Tasmania) from 1901. 
• The Butcher's Reef North Gold Mining Company, Bear Hill, New South Wales, shares, 1889, bold red, purple and gold printing, L11
• The share from the South Australian Oil Wells Co shows a large vignette of an oil field. The company operated in Gippsland, Victoria, and reported test drills in the 1940s at a depth of over 4,000 feet. L29

New Zealand is represented by more than 40 lots, several from gold mining companies. L76, a share from The Maoriland Gold Mines Ltd, was issued in 1896. 

The British chapter consists of several sections: railways, canals and shipping, government, banking and insurance, bridges, commercial, industrial, mining, automobiles and cycling, newspaper and publishing. Let's mention some entries:

• Railway enthusiasts will love the 1875 issued share in The Gorsedda Junction and Portmadoc Railways Company, Wales. Rare, L228 depicts a double-ended steam locomotive, a "double Fairlie".  
• L290 contains lots of history: a share in The London Clinic and Nursing Home Ltd from 1929. The London Clinic is one of the UK's best private hospitals and has treated many famous names such as Charlie Chaplin. It was here that Chilean dictator General Augusto Pinochet was arrested in 1998. 
• L264 consists of a group of three shares in the Associated Newspapers Ltd. Today known as DMG Media. This media holding publishes the Daily Mail, Metro, New Scientist, the Irish Daily Mail and many more. 

The Normal Powder and Ammunition Company Ltd, ordinary shares, 1898, company logo with rifles and canon repeated in the embossed seal, L292, click image to enlarge 

The USA chapter is split into 5 sections: automobiles and aviation, commercial and industrial, government, mining and railways. Here are some of the interesting lots noted :

• The Duquesne Incline Plane Co., Pittsburgh, PA, incorporated in 1876 with a capital of $40,000 consisting of 800 shares of $50. This certificate, from 1877, was issued for 20 shares. The company built a funicular on Mount Washington that ran at a grade of up to 30.5 degrees. L480 
• Several $1000 6% Territory of Florida bonds from 1838, several vignettes, are offered. L360 through L368.
• L440 is a $5 Class B stock certificate in The North Carolina Gold Mining and Reduction Company, Philadelphia 1882, uncommon vignet of miners at work and railway bridge.

A section of 60 lots includes scripophily from Argentina, Brazil, Columbia, Cuba, Honduras and many more Latin American countries. Several Mexican railway certificates will pass in review, including this Ferrocarriles de Toluca á Tenango y San Juan, 1907. It is part of a trio, each one printed with a distinct denomination and in different colours, but all with the same great locomotive vignette. L331 

There is lots more to discover in this sale, so here are the details :

• Location : this is an Internet only sale
• Date : Jun 16 17:00 - Jul 5 11:00, 2022
• Further info : see here 

F.L.

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Crossing Latin America by rail with SPINK

SPINK's Bonds and Shares Department has put its last sale of 2020 online. The auctioneer offers over 600 antique securities including an impressive set of bonds and shares from Latin American railway companies.  This online auction ends at 11 AM GMT on Dec 15, 2020.

Several bonds and shares from South American railroads are ready to be hammered at Spink's scripophily auction. The Central Argentine Railway issued this share in 1911. Railway construction started in 1863 with the building of the terminus in Rosario. Nearly 100 years later the Juan Perón administration nationalized the British owned railways in 1948. L(ot) 394 in the auction was printed by Waterlow and Sons. 

Spink and Son Ltd specialises in the auctioning of stamps, coins, banknotes, medals, autographs, books, wines and more. This time antique stocks and bonds from many countries go on the block. 

The Mexican International Railroad Company was formed in 1882 to link the Southern Pacific to the Mexican Central Railway. In 1910 the business was acquired by the government controlled National Railways of Mexico. This £100 specimen bond from 1897 was printed by American Bank Note Co., L435 

Major sections in the auction include Africa, Asia, Europe, Great Britain, the Americas, and the United States. Special interest themes that can be discovered are : Russian oil, American mining, Norway, British automobile builders, and more. 

The British entertainment section includes some historical items from the theatre, film and television world. Let's take a look at lot 335, a group lot of two specimen bonds from the Alexander Korda Film Productions Ltd company. Film director and producer Alexander Korda (1893-1956) became one of the leading figures in the British film industry. He founded London Films and became owner of British Lion Films. World famous is The Third Man which he produced in 1949.  

The auction features over 60 lots of scripophily from the African continent. This share in the Abyssinian Corporation was issued in 1918. The British company was involved in trading activities with the Ethiopian Empire, then ruled by Empress Zewditu. Frederick Lugard, then Governor-General of Nigeria, signed the share as Director. His wife, the journalist and writer Flora Shaw coined the country's name "Nigeria", derived from the Niger river. Vignette of elephant and lion head, rare, L12 

The sale also provides an interesting cross-section of British motor cars and cycles. Here are some of the highlights with lot numbers : 

• British Motor Company Ltd, preference shares, 1898, signed as director by Harry Hewitt Griffin, cycling journalist, editor of Bicycling News, and director of the New Beeston Cycle Co, L302
• Argylls, Ltd, 1909, Scotland's largest car manufacturer before World War I, motor car vignette, L289 
• Clément, Gladiator and Humber (France) Ltd, £1 shares, 1897, company in 1903 divided to form Clement Talbot in England and Clement Gladiator in France, L310

The British Motor & Engineering Company was based in Caversham, Reading where they produced four models between 1905 and 1907. One of these was a 6.5 h.p. two-cylinder two-seated car that sold at £105.  L303 

There is a lot more to discover! So, here are the sale's details : 

• Location : online auction only
• Date : ends on 15 December, 2020 at 11:00 AM
• Further info : see Spink's online catalogue with full color images here 

F.L.

The Great Northern Central Railway of Colombia was founded in 1907 and planned a first rail section between Puerto Wilches and Bucaramanga. This rare 5.5% £20 Mortgage bond, 1909, one of the South American railway certificates in the sale, illustrates the coat of arms of Colombia and a locomotive. L432 

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Scripophily magazine uncovers the stories of historic and artistic securities

Scripophily magazine brings you into the world of antique stocks and bonds. Buckle up! Compelling stories, business plot twists and memorable personalities won't let you go during your reading journey. You'll find out about today's discoveries. Reports from the auction markets will keep you up-to-date. So, if you are serious about this matter, then this is the magazine you are looking for.

Scripophily was first published in 1982 under the name The Bond & Share Society Journal. On the occasion of the magazine's 100th edition, editor Max Hensley testified :

"The magazine appears on high quality paper, articles are longer and brought with more images in full color. Every issue was produced .. without paying a penny for content".

That's right, all content is created voluntarily by enthousiastic people from the hobby, three times a year.

Issue 108 brings over 50 pages of scripophily news, in depth articles, pictures of collector friends, auction reports and more than 100 high quality images of stunning, historic or rare stocks and bonds. Here is a summary on the topics brought in the latest issue :

• Swiss railway scripophily on Youtube 
• Newsletter about Belgian scripophily 
• Herzog Collection on the IBSS website 
• Mexican scripophily sources 
• New book on US railways by Terry Cox 
• New book on the Wogau Empire (Russia) by Erik Meyer 
• Playwright Neil Simon 
• The shipyard from Gdansk 
• Saved at the last minute, a story on share adventures
• Donating collections, do's and don'ts 
• "A L'Innoviation" inferno (Belgium) 
• Borki train disaster (Ukraine) 
• Cattle ranching in the US 
• Barcelona Traction, Light and Power Co 
• Survival rates on US Mining scripophily 

Is this a free magazine? No. Good stuff is never for free. But a 1-year subscription full of excitement only costs £20 or $32 or €25. The magazine is published by the International Bond and Share Society, the leading international organization for collectors, dealers and auctioneers in this field. More info : https://scripophily.org/membership/join/ 

F.L.

Related links

• What is Scripophily, a quick introduction  
• What is a share, what is a stock certificate ? 
• Scripophily Journals available to the public from the International Bond & Share Society

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Archives International Auctions reaches exciting milestone

Archives International Auctions (AIA) has something to celebrate! To mark their 50th auction anniversary, Bob Schwartz, President of AIA, and his dedicated team is holding a two-day sale of rare and captivating banknotes, scripophily, autographs and historic ephemera.

The event happens on 3 Dec at the Collectors Club, 22 East 35th Street, New York City, and 4 Dec at the company offices, Fort Lee, New Jersey. Scripophily collectors and enthusiasts will see over five hundred lots of antique bonds and shares going on the block. Several of these originate from the John E. Herzog Collection.

Wells Fargo Mining Co. stock certificate from 1876, designed by Grafton Tyler Brown (1841-1918). 
Lithographer Brown was the first African American artist depicting the Far West. His work has been displayed in several exhibitions at the Oakland Museum, Walters Art Museum Baltimore, the Smithsonian American Art Museum and the Metropolitan Museum of Art, New York. Bids on this authentic financial artwork from California are welcomed from US$650. Lot 56 in the auction. 

American scripophily is more than substantially present in this auction. Some of the highlights :

• L(ot)1, a 1795 Philadelphia and Lancaster Turnpike share signed by William Bingham is the opener of the sale. 
• Geyser "Old Faithul" can be admired on a Yellowstone Park Association share from 1887, L59. 
• L62 comprises of a spectacular specimen share and bond, 1865, from The Norfolk and St. Nazaire Steam Navigation Company. Included is a mockup and the orginal artwork of the vignettes, a steamship between globes. Bids invited from $325. 
• Historic, L108, a $20 bond from 1898 issued to finance the Spanish American War including the purchase of the Philippine Islands from Spain, is expected to realize at least $8,000.  
• Aviation history can be found in L792, share number 1 in the Aviation Corporation of America, a Pan Am predecessor. 

A game changer in technology, Thomas Edison signed this Edison Phonographs stock certificate from the Roaring Twenties. This rarity, L114 in the auction, can possibly be purchased from $500 onwards. 

AIA's anniversary sale includes exceptional items from the John E. Herzog Collection. Mr. Herzog started collecting in the late 1950s. After being active in the stockbroking business, he became Chairman of the R. M. Smythe & Co. numismatic auction company. John Herzog is also the founder of the Museum of American Finance. Here are some of the many Herzog items featured in the sale :

• An early and scarce Havana Railroads Company bond from 1850, L23, will interest collectors of Cuban scripophily. 
• L7, and L775 through L778 are early Amercan stock options (rights to buy or sell at a specified price), e.g. L776, a 1880 option for selling 100 Pacific Mail Steamship shares, signed by financier and railroad executive Russel Sage.
• Suffragist and abolitionist Lucy Stone (1818-1893) signed the Providence and Worcester Railroad Co share, see L780. 

From the Herzog Collection : Dominion of Canada "Fourth War Loan" of 1917, specimen bond, printed by the American  Bank Note Co., Ottawa, vignettes of King George V and Queen Mary of Teck,  L16 

Museum-caliber scripophily from the 18th century makes this an outstanding AIA sale. These 'Pirates of the Caribbean'-era certificates are rare, historic and often produced as copper engravings on vellum with paper seals. Several lots in this auction segment also originate from the Herzog Collection :

• The Danish West Indies was a Danish colony in the Caribbean, consisting of the islands of Saint Thomas, Saint John and Saint Croix. From 1778, a bond from the Royal Danish West Indian Company with large vignette of Neptune, Mercury and the Royal Standard of Denmark, is estimated between $400-800. L25 in the auction.
• L27, a share in the Compagnie des Fosses a Charbon de Monsieur Le Marquies de Traisnel, one of the earliest French coal mining companies, dates from 1781 and bears the coat of arms of the Marquess.
• The Svenska Ostindiska Companiet, the Swedish East-India Company, traded Swedish steel and timber for tea and porcelain from the Far East. With the American Revolutionay War, when France, the Dutch Republic and Spain joined forces against Britain and blocked trading from China, the company briefly became one of the only suppliers of tea in Europe. A bond from 1782, L47, starts at $425.

Bidding on this spectacular share from the Real Compañia de San Fernando de Sevilla, ca 1748, L43 in the auction, starts from $1,500. This Spanish company controlled the trade, especially in precious metals, with various parts from South America. The share has an engraved view of the city of Seville, but there is much more to discover: click the image to enlarge. 

Besides the fact that scripophily from many countries is represented, auctioneer Bob Schwartz also points out the rich assortment from Mexico :

This is one of the largest offerings of specimen and issued scripophily bonds and shares from Mexico that we have offered ever in auction. It includes items from a serious Western collector as well as specimens never offered previously from the ABN Archives.

Aquí algunos ejemplos

• At the end of the 19th century, the Compañia Limitada de Ferrocarriles del Distrito operated a large part of the Mexico City street railway network. L906, a 100 Pesos specimen stock from the 1880s, large vignette of horse-powered street railway in front of the Metropolitan Cathedral, accepts bidding from $150.
• L893 Banco de Nuevo Leon, Monterrey, extremeley rare specimen share from 1900
• L931 República Mexicana, Bono Hipotecario del Ferrocarril Nacional de Tehuantepec, £200 Sterling=4080 German Reichsmark, 1890 specimen bond, $280 start price

The Banco Internacional é Hipotecario de Mexico was founded in 1882. This 6% specimen bond for 100 Mexican Dollars, 1905, scarce, starts at $325. L899 in the auction. 

Another theme from the sale that deserves attention is Mandatory Palestine. You can find most of these certificates in lot range 943-969, e.g. L968, a Solelboneh (Jewish Workers Cooperative Association) share issued in 1925 with a strong Art Deco design.

"Palestine Foundation Fund, Keren Hayesod Sacrifice Bond, for the upbuilding of Palestine as a homeland for the Jewish People ...To the investor, it (the investment) will yield no return in money .." 

Established in 1920 Keren Hayesod is the official fundraising organization for Israel. With donations raised throughout the world, it brought tens of thousands of Jews fleeing Europe to Eretz Yisrael. This 1922 specimen bond shows a vignette of Theodore Herzl, who promoted Jewish immigration to Palestine to form a Jewish state. Historic and very rare, L32, starts at $800. 

AIA has always been a strong auctioneer in US Railway stocks and bonds, many of these originating from the American Bank Notes Archives. This sale continues tradition, just get a look online on these pearls :

• A great setting of steamboats, ferries and sailboats sailing under the Brooklyn Bridge is shown on a Union Elevated Railroad Company of Brooklyn specimen bond from 1887. L67 is estimated around $700-1,200, bidding can start at $575. No sales recorded for over 10 years on Coxrail.
• Issued in 1844 is L73, a very rare stock certificate from the Danville & Pottsville Railroad Company with vignettes of Benjamin Franklin and Stephen Girard, probably the only one known.
• Starting at $120, a $1000 specimen bond from The Saint Paul Minneapolis and Manitoba Railway Company, Montana Extension, will certainly interest Montana collectors. L1093.

Texas and Pacific Railway Company $1000 specimen bond, 1888, with stunning graphics. 

Click image to enlarge. L64 in the sale starts at $425. 

Of course, there is much more to tell about this auction, but the most interesting way is to see for yourself. So here are the auction details :

• Dates & locations
• December 3, 2018, Collectors Club, 22 East 35th Street, New York City 
• December 4, 2018, Archives International Auctions, Fort Lee, New Jersey 
• Further info : see here , live and absentee bidding here and a downloadable PDF catalogue there 

F.L.

Digest of scripophily readings XII

New online scripophily articles and references, November 2013

Taiwan Stock Museum
About one year ago, the Taiwan Stock Museum (TSM) was opened officially to the public in Taipei. The museum was created by the Taiwan Depository & Clearing Corporation (TDCC) following the completion of the company's move to a paperless depository of securities in July 2011. The museum, which includes an interactive multimedia hall, shows artifacts and many stocks and bonds that have witnessed the historical development of Taiwan's stock market.
Related links :

• The Taiwan Stock Museum , entirely in Chinese 
• An online article in English from the TDCC, see here 
• A coverage on the TSM by Culture TW, see here, with a photo gallery there 
• TSM's interactive wall 

NONVALEURS on Tumblr

Hans-Georg Glasemann, author of many books and articles, see for example here, is also the writer of many scripophily related posts on his NONVALEURS blog on Tumblr. You'll find out that Mr. Glasemann's topics cover all themes worldwide. Most articles are written in German, here is one of my favorites about Papua New Guinea, but occasionally you can detect stories written in English, like this one about early attempts to connect France and the UK by means of a railway tunnel. Tumblr is a social-media blogging platform, so you can "Follow" the NONVALEURS blog and never miss a post !

Scripophily Magazine

In addition to the online sources above, the latest August 2013 No.92 issue of Scripophily magazine, published by the International Bond and Share Society , contains the following stories :

• Speculation mixed, about speculation phenomena in scripophily
• Collectors' clearinghouse - Hetty HR Green
• Cox's Corner : Sharing information and knowledge
• Dr Fred S Pearson and the Infrastructure Revolution, about infrastructure and railway investments in the US, Canada and Mexico
• Britain's National Debt, a coverage of 17th, 18th and 19th century loans, payment orders and annuities
• Scripophily at the New York Stock Exchange, about the NYSE archives
• Consolidate What ? a story on John Peirce's railway ventures
• Inspection of the vignettes on a share of the Chicago & Northwestern Railway Company, amazing what there is to see !
• Tasker L Oddie - Prospector & Politician, a US gold mining story
• An Interesting Mystery, about Chester Pennsylvania banks 
• other periodical topics : society matters, news, bourse reviews, auction reviews, events calendar, member classifieds, book reviews

F.L.

Signed the Guest book yet ?

The Copper Handbook - a manual of the copper mining industry of the world

image by Boone Shares

Following is a list of the elements with which copper is found chemically united in nature. This list includes 29 of the 77 elements known to science at this writing. Following the name of each element is its chemical symbol and atomic weight, as now figured by the best authorities : 

Aluminium Al 27.1

Antimony Sb 120

Arsenic As 75

Bismuth Bi 208.3

Calcium Ca 40.1

Carbon C 12

Chlorine Cl 35.45

Cobalt Co 59

Copper Cu 63.6

Hydrogen H 1.01

Iron Fe 56

Lead Pl 206.9

Manganese Mn 55

Nickel Ni 58.7

Niobium Nb 93.7

Nitrogen N 14.04

Oxigen O 16

Phosphorus P 31

Platinum Pt 195

Selenium Se 79.2

Silicon Si 28.4

Silver Ag 107.93

Sulphur S 32.06

Tellurium Te 127.5

Tin Sn 119

Tungsten W 184

Uranium U 240

Vanadium V 51.4

Zinc Zn 65.4

Excerpt from The Copper Handbook 1903, Vol. III for the year 1902, page 27

More than 2000 copper mines in all parts of the world

Scripophily auctioneers and a few blessed collectors use the book for researching companies. The 1903 issue contains 2207 company profiles. Most of the mines included are located in the USA, others are active in the following countries: Argentina, Austria, Australia, Algeria, Bolivia, Canada, Chili, Cuba, France, India, Italy, Ireland, Japan, Mexico, Norway, Peru, Portugal, Rhodesia, Russia, South Africa, Spain, Sweden, Turkey, UK and much more, even Sudan and New Caledonia. Many company descriptions span tens of lines, sometimes several pages. As an example, I included the profile of the Parrot Silver and Copper Company:

Parrot Silver and Copper Company
shares of 10 Dollars, issued in 1904, Butte, Montana
printed by Western Banknote Company, Chicago
In the Copper Handbook Vol. III the company
was ranked 25th in the list of largest copper producers.
double-click image to enlarge

PARROT SILVER & COPPER CO. - MONTANA
Mine office: Butte, Silver Bow Co., Montana. Harry A. Galway, superintendent. Has a stock issue of 230,000 shares, bulk of which is held by the Amalgamated Copper Co. This company is mixed up to some extent in the litigation that is so unpleasant a feature of mining operations in Butte. Principal mines are the Little Minah and Parrot, opened circa 1884. Company holds 19 claims in all, mostly well located. A barren zone occurs at a depth of about 1,000' , but good ore bodies are found below. Production is at the rate of about 12,000,000 pounds yearly. The ores carry fair values in silver and gold, as well as copper. Mine employs 300 to 400 men, when working full force. The Little Minah mine has a 1,000' two-compartment shaft connected underground with the Nipper. The Parrot mine is about 1,700' deep, main shaft having 3 compartments to 400' level and 4 compartments below, connected underground with Colusa-Parrot, Never Sweat, Nipper and Original mines.

detail from the Parrot Silver and Copper Company's stock certificate
vignette of a brainy parrot claiming his ingot (I want a parrot like that)

This book is encyclopedic

Do you know the meaning of following terms or expressions? Watch out! I can not pronounce some of these words I. Don't hurt yourself in the act.

• pertenencia: one mineral claim in Mexico; area, one hectare or 2,471 acres
• cutting down: when a shaft is enlarged, work begins at the top, and the work of enlargement is called cutting down
• dognacskaite: a sulphide of bismuth and copper; carrying about 12% copper; from Hungary
• pinching out: the narrowing of a vein to extinction

When was the first copper shipment from the Australian continent ? Answer: 1843

What was the world's largest mine in the early 1900s ? Answer: The Anaconda Copper Mining Company, Butte, Montana, producing more than 100,000,000 Pounds in 1901.

Reference catalogue : Cox's North American Railroads

                                        

2nd Edition, 2003
double-click image to enlarge

• Title : Collectible Stocks and Bonds from North American Railroads - Guide with prices, second edition
• Authors : Terry Cox
• ID : ISBN 0-9746485-0-7, published by TCox & Associates Inc., 2003
• Languages : English
• Number of pages : 546
• Images : about 225 black and white images 
• Indexes : alphabetically, additional index on the key words and phrases from the chapters
• Still available, see here.

This superb reference catalogue covers stocks and bonds from companies that built, or planned to build, railroads in the USA, Canada, Mexico, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Puerto Rico, Cuba, Jamaica and other Carribean Islands. 

Included are: mainline railroads, short line railroads, narrow gauge railroads, horse railroads, tourist railroads, electric railroads, street railroads, traction railroads, subways, tramways. The edition lists about a phenomenal 18000 different certificate entries with price indication. Several "Quickfind Charts" help you to find certificates from companies that issued tens of varieties.

I bought the 1st edition of the book, I believe it was in 1998. When in 2003 the 2nd edition appeared I purchased that one as well without the slightest hesitation. Though I am not a collector of these railroad certificates, I have used the books exhaustively. Just look at the images of both editions, you'll see the fold and cracks in the front covers. Why? Well, the book contains so much more and useful stuff for any  collector of American shares and bonds in general.

What is a CUSIP number ? Do you know the difference between cumulative preferred stock and assessable stock? The answers on these questions and many more are given in the book. You will find information on quantities of certificates, price evolutions, terminology, security engraving, lettering on securities, denominations, paper, underprints and overprints, scams, rarity, autograph aspects, a list of 300 biographical entries, and more ..

Chapters preceding the actual catalogue section :

• Purpose of this guide
• Background on stock certificates
• Background on bond certificates
• Background on railroad-related certificates
• Miscellaneous information about certificates
• General information about railroad companies
• Revenue stamps and imprints
• A discussion of prices
• Use this price guide to your benefit
• What about selling your certificates
• Explanation of catalog numbering system
• Categories of information recorded
• Selected references
• How to help correct and expand this guide
• Glossary of common terms used on stocks and bonds
• Autographs found on railroad stocks and bonds

The book is only a part of a bigger project realized by the author : Coxrail is the online version including a  searchable database on the catalogue entries. Here you find new additions, images, updated price information, serial numbers recorded and again lots more for the railroad scripophily enthusiast. Terry Cox is also working on a third edition, as you can see here , but that meticulous and time-consuming labour is still in progress. 

F.L.

Further information : Terry Cox's Coxrail 

1st edition, 1995
double-click image to enlarge

Digest of scripophily readings VII

New online scripophily articles and references, October 2012

HPax - Hankes market index for German scripophily

Ulrich W. Hanke is no stranger to German collectors of stocks and bonds. In his German blog, Hankes Historische, Hanke follows the news on the German scripophily scene including auction and eBay results but also highlights the more modern securities. You may also want to read about him in this online interview.
As far as I know he is the first one to publish a market index for the German high end scripophily market. The HPax, Historische wertPApiere-indeX (English: historical securities index), is calculated twice a year and is based on the ten most expensive items sold by auction by the HWPH and FHW auction houses. See the chart here.
It is a matter of time when others may conceive similar indexes for other regions, e.g. Asia, or market segments, such as American gold mining certificates. A great idea!

Banking history of Northern England

In 1894 E. Wilson & Company publishes the book A History of Banks, Bankers and Banking in Northumberland, Durham, and North Yorkshire. It is written by Maberly Phillips. As the subtitle indicates, this worthy volume illustrates the commercial development of the north of England from 1755 to 1894 with numerous portraits, facsimiles of notes, signatures, documents, et cetera.

Chapters:

• Banking in London
• Banking in Scotland
• Incidents prior to Provincial Banking
• Provincial Banking (8 chapters spanning the period 1755 - 1894 )
• Coining and clipping, tontines and lotteries.
• Bank Reviews
• Index

Interesting for us: in 300 pages hundreds of banks are reviewed.  Furthermore, the book is illustrated with close to a hundred images of early coins, clipped coins, forged assignates, banknotes, document signatures, portraits, engravings ..  When did we stop making books like that? A must read for anyone interested in English banking history and early and counterfeit money. Yes, there is an online version. You can see it here , the PDF-link is at the left.

Scripophily Magazine
In addition to the articles above, the brand new August 2012 No.89 issue of Scripophily magazine, published by the International Bond and Share Society, contains the following stories :

• The Oldest Mining Scripophily
• Speculations Roll On (Mexico, Westphalia, Brazil)
• The Nineteenth Century UK Bicycle/Infant Motor Industry Investment 'Bubbles'
• Strasburg Retrospective
• Joseph R De La Mar - The "American Monte Cristo" (US mining & gold mining)
• The Texas Pacific Land Trust and the Saga of Certificate No.390 (railways, land property, oil)
• The Central of Georgia (US railroad and shipping)
• Self-Referential Scripophily: Mary Ann Gold and Silver Mining Co., Nevada Territory
• other periodical topics : News, Bourse Reviews, Book Reviews, Auction Reviews, Events calendar, Member Classifieds, Update Membership Directory Supplement, Club Auction  

Tip 1 : This issue has been put online as free download, see here. If you are still not a member, time to check out the magazine by yourself !

Tip 2 : Also this issue includes a 2-For-1 admission coupon for the Checks and Balances exhibition, see here,  at the Museum of American Finance, open through November 2012.

F.L.

Signed the Guest book yet ?

Digest of scripophily readings IV

New online scripophily articles and references, June 2012 

Museo Financiero

The Museo Financiero (English: Financial Museum) is an online museum, set up as a blog in the Spanish language. This virtual museum, displaying lots of Spanish shares and bonds, will eventually house three sections :

• Spanish financial institutions
• Hispanic-American financial institutions
• Spanish railways

So far, only the Spanish financial institutions section is finished and open to the online public, but nevertheless it is already impressive. Many old shares and bonds from Spanish financial institutions are listed here together with a historical background note. The material is also browsable in a chronological way. There is further no indication who has been putting together all this great. Maybe you can tell ? You can find this online museum right here. A perfect activity on a Sunday afternoon.  

Our painters and sculptors, engravers, designers

Nos Peintres et Sculpteurs, Graveurs, Dessinateurs is a French book by Jules Martin, published by Ernest Flammarion in 1897. It contains hundreds of portraits and biographies of artists that were noted on artistic events like those from Société Nationale de Beaux-Arts and the Société des Artistes Français. An online PDF version can be found here.

Some of the artists included have been working on the designs of bond and shares: Auguste François Gorguet, Alphonse Mucha, ... Maybe you can recognize others as well. One of the pages in the book refers to a second volume, but I could not locate a digital version of it.

Scripophily from the first canals

During the I.B.S.S. breakfast meeting in Antwerp, 11th March 2012, member Dr Peter Christen gave a very informative talk about the history of canal building and financing, in particular the French Canal du Midi. The presentation can be downloaded here from the IBSS website. Much more on canal scripophily from France, Sweden, Germany, USA, Egypt, Greece and Panama can be found on the speaker's own web pages, see here. Thank you for sharing, Peter !


China to become the world's largest art and antiques market

For the past two years now, and even longer, one of the most popular songs played on the scripophily radio is: China, China, China. Besides the speculation on the redemption of some Chinese government bonds, several international auction results show also that 'true' Chinese scripophily, I mean not related to speculation, has been in strong demand both internationally and locally. Specific auction results in this field are highlighted in the latest Scripophily magazine. You'll understand that it is only a matter of time for China to dominate the scripophily market after reading this article on CoinsWeekly. 

double-click to enlarge

Scripophily Magazine

In addition to the articles above, the brand new April 2012 No.88 issue of Scripophily magazine, published by the International Bond and Share Society, contains the following stories : 

• The World's Oldest (oldest bond dated 1485) 
• Million Pound Bond Sets Price Record 
• Warning: Rampant Speculation Continues (speculation in Mexican bonds and shares) 
• The Ampersat and The Bond (the @ symbol on bonds throughout history) 
• US Savings Bonds De-Materialise 
• Mackay Before He Was Mackay (mining & gold mining USA) 
• Scripophily in Finland 
• Dr Richard C Flower and the Famous Spenazuma Scam (gold mining USA) 
• Cox's Corner #13 - Solving problems with collectibles 
• other periodical topics : News and Reviews, Auction Reviews, Events Calendar, Update Membership Directory Supplement, Member Classifieds 

This time, the magazine includes a 2-For-1 admission coupon for the Checks and Balances exhibition at the Museum of American Finance.

F.L.

P.S. Signed the Guest book yet ?

Under the volcano

The smallest volcano in Mexico is the Cuexcomate, with an elevation of only 13 meters (43 feet).  This inactive volcano is regarded as the smallest one on Earth. As a tourist you can visit it and even descend into the 8 meter wide crater. The Pico de Orizaba, is the largest Mexican volcano with a height of 5636 meters (18490 feet). Its last eruption took place in 1687. After the African Kilimanjaro it is the 2nd most prominent volcanic peak in the world. Did you know that Mexico counts more than 40 volcanoes ?   In the last 25 years no less than 5 different volcanoes erupted :

1982 El Chichón

1986 Tacaná
1993 Socorro
2006 Popocatepetl
2009 Colima

For sure, volcanic eruptions are part of life in Mexico now and they were so in the past. The $100 share of the Compañia Guayulera Mexicano, dated 1906, shows a Guayule planter at rest on a hot windless afternoon. A large volcano dominates the setting.