Showing posts with label Turkey. Show all posts
Showing posts with label Turkey. Show all posts

Tuesday, September 26, 2023

IBSS surprises members with full publications of Drumm & Henseler scripophily catalogues

The International Bond & Share Society is an association of people interested in scripophily. The society was founded in 1978 as a non-profit organization with the aim to promote, encourage and develop all aspects of scripophily. 

With members all over the world, the society publishes its flagship publication Scripophily three times a year.

Over a timespan of several months a small group of members cooperated in obtaining the copyrights of the pioneering Drumm & Henseler catalogs, digitizing those works, and making them available to its members as downloadable publications.  

The following catalogues can now be found on the IBSS site :



Italian Railways, by Drumm, Henseler, Witula



Ottoman Empire and Turkey, by Drumm, Henseler, Glasemann



Russian City Bonds, by Drumm, Henseler



Russian Railway Bonds, by Drumm, Henseler


You can find the publications here, but you must be logged in as a member to access this information. Still not a member ? Then this will help you out

F.L.



Saturday, January 23, 2021

Scripophily Puzzle No. 4 - solution

In Puzzle No. 4 we were looking for a novel. This time, three scripophily detectives gave the correct answer. "A bit too easy" I was told. 

In order to solve the puzzle, I provided you two visual cues : details from the designs of a bond and a share certificate. Let's have a look at them.




The first image shows a logo consisting of the interlaced letters W and L flanked by two lions and a banner underneath. The banner shows some words. Click the image to enlarge it. You can't distinguish all the words but Compagnie, des, Lits and Européens must be clear.

Googling these words brings up links to the Compagnie Internationale des Wagons-Lits. In the Google Images results pane you'll find a similar logo, and likely, an image of one of the company's bond certificates like the one shown here.




The Compagnie Internationale des Wagons-Lits et des Grands Express Européens, in short CIWL, was founded by the Belgian Georges Nagelmackers in 1872. His business pioneered in luxurious on-train catering and sleeping car services. CIWL operated the famous long-distance Orient Express that originally ran from Paris to Constantinople (Istanbul).




The second image shows a fragment from a share certificate. We can read [H]ôtel de Constantinople, and you can also detect a stamp that mentions Société Française des Grands Hotels Internationaux. All-knowing Google tells us that we are talking about the Pera Palace Hotel in Istanbul. 

The Pera Palace was built in 1892 for the CIWL. The company needed a suitable hotel at the final destination of its Orient Express. Among its famous guests were : Mustafa Kemal Atatürk, Ernest Hemingway, Queen Elizabeth II, Alfred Hitchcock and Jacqueline Kennedy.




Using the words Wagons-Lits and book, or even novel, in your next Google search yields many results to multiple publications. So does Pera Palace combined with the words book or novel. Obviously, both are popular subjects.

A better idea was to search for the combination of all these words : Wagons-Lits, Pera Palace and novel, or, even better, Orient Express and novel. The outcome leads you to the solution : Murder on the Orient Express, a novel written by the English writer Agatha Christie.




Christie's famous book appeared in 1934. It brings the story of Hercule Poirot, a Belgian detective, who returns from the Middle East on the Orient Express. The train is stopped by heavy snowfall and a murder is discovered. Poirot's trip home to London is interrupted to solve the murder.

Agatha Christie stayed on several occasions at the Pera Palace from 1926 through 1932. It is said that she wrote there Murder on the Orient Express in her favored room, 411. Did you know you can still book her room for your stay in Istanbul ? 

Did Agatha Christie ever travel on the Orient Express ? As a matter of fact, yes, she did, more than once. Her first journey on the Orient Express was in late 1928, only a few months before a blizzard, near Cherkeskoy, Turkey, stranded another Orient Express for six days. And in December 1931, when Christie returned from her husband's archaeological dig at Nineveh, aboard an Orient Express, sections of railway track were washed away by heavy rainfall flooding. 




In scripophily, we have seen bonds and shares that were issued to or signed by famous authors like Ernest Hemingway and Mark Twain. Wouldn't it be a baffling mystery if a share issued to Agatha Christie would turn up in suspicious circumstances ?

To conclude, scripophily detectives DB and RS provided a correct answer, but is was SC who was the first to solve puzzle no 4.  Great job everyone. You are now entitled a portion of "eternal fame".


F.L.


PS 

 


Friday, March 27, 2020

Connoisseurs of British railway securities will be thrilled at Boone's next scripophily auction

The 64th auction of Mario Boone takes place online with an exceptional range of high quality collectibles. Nearly 1,700 antique stocks and bonds spanning 4 centuries of financial history represent about 100 countries.

Boone's next auction is set for 4 April 2020. Included are many genuine founder shares from famous companies. This is one from the Assicurazioni Generali Austro-Italiche. 


The very first share from the world famous Generali insurance company

Following the Napoleonic Wars, Trieste became the main trading port and shipbuilding centre of the Austrian Empire. There insurance expert Joseph Lazarus Morpurgo founded the Assicurazioni Generali Austro-Italiche in 1831. His company provided insurances against risks of marine and land transport, flood, fire, and much more, hence the name GENERALI.  One of its notable employees was writer Franz Kafka who worked for Generali in Prague in 1907 and 1908. This is Generali's share number 1, issued in Trieste, 1832, and signed by Morpurgo. Lot 943 in the auction is a top item for any scripophily collector of insurance companies or Italian/Austrian finance history. 


Connoisseurs of British railway securities will be thrilled. More than 120 lots come from an old collection that illustrates the rich and pioneering history of British railways. Even if you are not into railway scripophily, this is an exceptional opportunity to check out this series (lot range 789 through 914). Let me mention here a few of these gems :
  • L793 Blaydon, Gateshead & Hebburn Railway, stunning vignette; 
  • from Ireland, L804 River Line, Cork Blackrock and Passage Railway
  • L803 Clarence Railway, 1828!; 
  • L809 Durham and Sunderland Railway, rare, wax seal;
  • Another stunning vignette can be seen on a Liverpool and Manchester Railway certificate, 1826!, L845. 
  • L877 comprises a share from as early as 1804 - eighteen hundred and four !!! - issued by the horse-operated Oystermouth Rail-Way or Tram-Road. This company commenced to carry passengers in 1807. 



Monmouthshire Railway and Canal Company share transfer certificate with large vignette of train and barge approaching bridge

The Monmouthshire Railway and Canal Company operated a canal and a network of railways in south-east Wales. It started as the Monmouthshire Canal Navigation and opened canals from Newport to Pontypool and to Crumlin from 1796. The unusual large vignette on this 1854 share transfer certificate shows a train and a horse-drawn barge nearing a canal bridge. Click to enlarge image, L869 in the auction. 


Auctioneer Boone provides an extensive catalog for this sale with every lot described in detail (download link see below). Among the nearly 1,700 antique securities you'll find hundreds of little masterpieces. Their designs reflects the art style in vogue and often include vignettes from illustrators. Some examples :
  • L422 Comptoir de la Bourse de Bruxelles, illustrated by Charles Posch
  • Constand Montald's work can be seen on L443, Grands Magasins à l'Innovation, Bruxelles 
  • Oriental elements are abundant on L384 Société Foncière de Syrie
  • L691 Gewerkschaft "Deutsche Nickel-Gesellschaft" displays a super mining vignette
  • My favorite Art Deco share is the 100 Gulden share from the Nederlandsche Bakkerij-Centrale, Amsterdam, 1917, a work by Johan Rudolf Bonnet created before he went to live in Bali, L972


multicolor printed share in the Anatolian Rug Manufactoring Company from Greece

A little masterpiece is this 25 shares certificate from The Anatolian Rug Manufacturing Co. Ltd., Athens, dated 1924. Printed in multicolor by Aspiotis Brothers, banknote printers from Corfu, the share is adorned with oriental elements and shows carpet knotters at work. Despite their obvious activities, the scene is filled with silence. Click the image to enlarge, one of them noticed your attention. L924 in the sale


The catalog's comprehensive country index lists nearly 100 countries. In particular large sections (each containing between 40 and 250 lots) are Belgium, France, Germany, UK, Romania, Russia, Sweden, Australia, Netherlands Indies and the USA. Scripophily from less obvious, often exotic places, like British North Borneo, Iraq, Djibouti and Suriname is present as well.



Chile's Government Junta proclaimed Chile as an autonomous republic within the Spanish monarchy in 1810. Eight years later Chile declared its independency in 1818 which would only be recognized in 1844. The Anglo Chilian Mining Association, formed in London, 1825, is one of the earliest companies formed in the new state. L1519 in the auction.


It is impossible to mention all items in this sale, but there is a way to find out more about them. Here are the auction details :
  • Location : Internet only
  • Date : 4 April 2020
  • Further info : 

F.L.

PS This auction also includes the first part of a unique collection of Indonesian scripophily (ca. 250 lots! ). Find out more about this here .




Boone's 64th auction catalog includes also an index of collecting themes (besides countries). The sports entry refers to more than 20 shares, including this French 1911 share in the Olympic Tennis Club de Wimereux, Boulogne-sur-Mer. Lot 610 

Tuesday, August 28, 2018

The Drumm Ottoman Collection comes up for sale

For the first time in its existence THE reference collection of Ottoman and Turkish scripophily is going to be auctioned. The event takes place on 15 September 2018 and is organized by HWPH Historisches Wertpapierhaus AG. Place to be is Würzburg, Germany. 


Smyrna Cassaba railway specimen bond from 1894

This 1894 specimen bond from the Smyrna Cassaba railway is one of the 274 certificates from the Drumm CollectionThe Ottoman Government sold the Smyrna Cassaba concession to Georges Nagelmackers, founder of Wagons-Lits, known for the Orient Express trains. 


Ulrich Drumm gathered over several decades the collection of 274 certificates from the Ottoman Empire and the Turkish State. It will be sold as a single group lot, lot 682 in HWPH's upcoming September auction. The collection formed the basis for the Drumm, Henseler, Glasemann catalogue Ottomanisches Kaiserreich und Türkei - Aktien und Anleihen, 1854-1938. The catalogue has been the standard work for Ottoman scripophily collectors since its year of publishing. 




Drumm founded Freunde Historischer Wertpapiere in 1974 with Alfons W. Henseler. This company specialized in auctions for antique stocks and bonds. FHW also started the publication of a magazine for collectors, the Zeitung für Historische Wertpapiere

Between 1975 and 1986 Drumm's company launched the Historische Wertpapiere series of reference catalogues. After publishing volumes on "Russian Railways", "Chinese Shares and Bonds", "Russian City Bonds" and "Austrian Railways", Vol 5 "Ottoman Empire and Turkey" appeared in 1983. The last volume in the series included "Italian Railways".



This certificate is illustrated and identified in the Drumm catalogue under entry TR1265c. Issued in 1910, Constantinople, it is an extremely rare 10 shares certificate from the Banque de Turquie pour favoriser le Commerce et l'Industrie.  



In the 19th century the Ottoman Empire included for some time parts of the Balkan, Greece, Palestine, Syria, Iraq, Egypt and Algeria. The Société du Chemin de Fer Ottoman de Jaffa à Jérusalem et Prolongements issued this 500 Francs bond in 1894. This is one of the certificates that Drumm added to the collection after the catalogue appeared.


Auctioneer Matthias Schmitt has high expectations of this exceptional collection. Included are many rare and important securities from the Ottoman Empire and the early Turkish state. More, after the publication of the book, Drumm extended the collection. Schmitt adds :
Just take these three examples (illustrated in this post), the combined value of these three certificates alone already make up for 20% of the ask price.

A detailed list of the items (lot 682) is available on request from the auctioneer :

  • Further info : HWPH's 50th Public Auction, see here, the Drumm Collection, see there  
  • Location : Würzburg, Germany
  • Date : 15 September 2018 


F. L.



Tuesday, March 15, 2016

Scripophily 99 reveals the first scripophilist in the history of mankind

The last issue of Scripophily magazine, No. 99, released in December 2015, features again articles with high scripophily content. Some statistics :
  • number of pages : 32 pages
  • number of bond and share images : 64
  • number of auction reports : 32
  • number of authors and reporters : 15

To me, the big surprise in this issue was the story on the first scripophilist. Most introductory texts in the hobby speak of early collectors in the 1970s. I've always thought that the oldest scripophilist (a collector or researcher of antique stocks and bonds) was Grover C Criswell. Criswell published his book Confederate and Southern State Bonds in 1961, that is 55 years ago. 

But in this issue, Scripophily author Max Hensley brings us the story of his findings in a California archive. The author tells us ... 
(the archive) contains what I believe to be the first documented intact US scripophily collection. I'm not talking about the usual accumulations of stocks assembled by archivists into 'collection' files, or accumulations from lawyers, trust companies, corporations and others who acquired their certificates in the ordinary course of business rather than by any collecting impulse.
The article contains lots of details on the collection, and is a fascinating read. You can actually feel the author's excitement in this scripophily adventure. The bottom line is that this first collector has a name, Andrew J Moulder, and that he was collecting in the 1890s or even sooner. This dates our hobby more than 125 years back from today. A must read to any serious collector.

Scripophily 99 front cover depicts 1854 Cocos Island Treasure Company share
Scripophily 99's front cover depicts a startling
1854 Cocos Island Treasure Company share,
one of the treasures in the Moulder Collection.
double-click image to enlarge

What's else in the magazine ? Here's, an overview of the other stories in Scripophily's last December issue :
  • The road ahead, a statement for the near future by IBSS chairman Martin Zanke
  • Herzog Collection debuts at Wall Street Collectibles Show
  • John Herzog on selling his collection, interview with the man himself
  • The Wall Street vignette
  • Let me entertain you with antique stock certificates - by Fred Fuld III, book review
  • The Stockton & Darlington Railway
  • Oldest Siemens share certificate
  • French colonial companies, interview with Alain Léger
  • The first US scripophilist ?
  • Hotel Arcadia - Santa Monica California
  • 50% growth in worldwide auction sales - four months to Nov 2015
  • Ottoman Railways
  • Cox's Corner : More catalogs please
  • 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
Scripophily magazine is a publication from the International Bond & Share Society.

F.L.

Related links

Wednesday, October 21, 2015

Mario Boone - Auction 55



BEKSA was jointly set up by Sabanci and the Belgian Bekaert company 
in Turkey for the production of steel cordThe 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.

Saturday, October 5, 2013

Reference catalogue : Les Tramways Belges




  • Title : Les Tramways Belges - Catalogue des Titres de Sociétés Belges de Tramways dans le Monde, in English: Belgian Tramway Companies - Catalogue of Belgian Tramway Companies in the World
  • Author : Luc de Voghel, Alain Roba
  • ID : no ISBN number; published 1986 by Alain Roba
  • Languages : French
  • Number of pages : 71
  • Images : over 220 small black and white images
  • Index : 1. Chronological (main classification), 2. Geographical classification,


This book is the work of two Belgian pioneers in scripophily : Luc de Voghel and Alain Roba. The work consists of a list of Belgian tramway companies operating in Belgium and abroad and their bonds and shares. Bearing in mind that the list was compiled 37 years ago, it counts more than 150 of such companies. More than 220 certificates are depicted in, according to our modern standards, a not so good quality. Interesting to know, entries were derived from the collections of both authors, but also from another scripophily pioneer : collector Erik Boone.

The companies mentioned were operating in the following countries : Argentina, Belgium, Bulgaria, China, Czechoslovakia, Egypt, France, Germany, Greece, Hungary, Italy, Netherlands, Persia, Poland, Rumania, Russia, Siam, Spain, Tunisia, Turkey, Yugoslavia. 

The work concludes with an overview of Belgian tramway companies whose certificates were not surfaced yet on the collector's market at the time (1986). 

F.L.

Thursday, April 11, 2013

Book : Edouard Empain

Edouard Empain, Belgian captain of industry, is known for building the Paris Métro and the district of Heliopolis in Cairo. In this book, author Jacques Simar brings us the story of Baron Empain and an overview of the industrial empire that Empain built up all over the world.

cover of the book Edouard Empain - de l'empire industriel .. aux titres de collection

double-click to enlarge image

from left to right:

Ateliers de Constructions Electriques de Charleroi
The Cairo Electric Railways and Heliopolis Oases Company
Chemins de Fer du Congo Supérieur aux Grands Lacs Africains
Compagnie de Chemin de Fer Métropolitain de Paris

background:

Edouard Empain ( 1852 - 1929 )

  • Title : Edouard Empain, Esprit Fécond, Entrepreneur Conquérant, English : Edouard Empain, a first rank entrepreneur from Belgium
  • Author : Jacques Simar
  • ID : no ISBN number, published by The Scripophily Center, 2013, see here
  • Languages : French, but a good summary in English and Dutch is provided
  • Number of pages : 107
  • Images : about 100 color images

Chapters
  1. Premières années et premiers défis 1852 - 1881  (English: first years and first challenges)
  2. Développement de l' empire 1879 - 1929 (development of the business empire)
  3. Le système Empain ( the Empain system )
  4. La collection des titres Empain ( the collection of Empain scripophily )
  5. Summary in Dutch
  6. Summary in English
  7. Remerciements (Thanks)
  8. Annexes : sociétés du groupe Empain ( Appendices : companies of the Empain group )
  9. Source des illustrations ( source of illustrations )
  10. Notes
Chapter 2, being the largest one, gives us an overview of the activities and realizations of Empain's  companies in the Ottoman Empire, Chili, Syria, Netherlands, Russia, Spain, China, Belgian Congo and, of course, Belgium, France and Egypt.

The book is richly illustrated with images of shares and bonds of companies active in railways, banking, metal works, electric power, gas distribution, chemical industry, tourism and hotels, canals, real estate, shipping and mining. Several of the certificates depicted are very rare.

What else is there in the book ? Well, the work includes also : 
  • an overview diagram of the Empain family dynasty
  • several maps : routes of the Tramways du Caire, the concession of the Cairo Electric Railways and Heliopolis Oasis company, the railway network of Belgian Congo, routes of the Lung-Hai railway in northern China
  • long term stock charts of companies
  • classifications of the companies in the Empain group by country and in chronological order

A reference catalogue as well
Chapter 4 contains a reference catalogue section. Included are the stocks and bonds of the Empain companies surfaced in scripophily so far.  More than 500 securities from about 110 companies are represented  and ordered by country. Interesting, each entry contains a value indication between 1 and 5.

A book that fits in your laptop bag. Top !
Still available from the publisher, see here, at 30 Euro.

F.L.

NB : 
What is your favorite share depicted in the book ?
Mine is the 500 Francs bond from 1895 issued by the Tramways de Kischinew.

Wednesday, August 18, 2010

Reference catalogue : Ottoman Empire and Turkey, Share certificates and Bonds, 1854-1938




  • Title : Historische Wertpapiere, Band V, Ottomanisches Kaiserreich und Türkei - Aktien und Anleihen, 1854-1938
  • Authors : Drumm, Henseler, Glasemann
  • ID: without publication number, published by Freunde Historischer Wertpapiere, 1983
  • Languages : German, introductions also in English and French
  • Number of pages : 237
  • Images : black & white, on average 1 per 2 pages
  • Indexes : alphabetic, but main ordering consists of 2 sections : 1. shares (by date), 2. bonds (by date)
This catalogue includes certificates from private companies and issued by the Ottoman state.