Veissid Auctions features 850 lots of antique stocks and bonds .. tomorrow!

My apologies for the timing, but here is a late incoming announcement for the Veissid Auctions' event that ends tomorrow. The auction features 850 lots of scripophily representing all parts of the world. 

Some examples:

This share from The Melbourne and Suburban Railway Company was issued in 1859. The vignette features a surveyor and a miner, a train approaching a bridge and a real-estate development map. The embossed company seal depicting a train is stunning. L(ot)37 starts at GBP60.

This 25 shares certificate in the Roodepoort United Main Reef Gold Mining Company was issued in 1900. The company registered in the South African Republic, then an independent Boer republic. Two years later, after the Second Boer War, the British Empire annexed the republic which became the Transvaal Colony. L243, a Waterlow & Sons print, may be acquired from GBP100. 

Yukon is the westernmost of Canada's three territories. Yet, the Yukon Gold Company was incorporated in the state of Maine, with a capital stock of $25,000,000. The company conducted hydraulic mining operations on Bonanza Creek, Klondyke River and Hunker Creek, Klondyke Gold Fields, Yukon Territory. This 100 shares certificate was issued in 1910 and printed by the New York Bank Note Company. L601 starts at GBP80. 

Scottish scripophily is not that common. This Campsie Public Hall Company share was issued in 1904 to Miss Anna B. Patton, then a Glasgow resident. The company ran a library and reading room. Printed by Gilmour & Dean somewhere in the 1800s century, L530 starts at GBP25.

There is a lot more to discover, so quickly have a look at Veissid Auctions here. 

F.L.

Boone's 69th auction spans now 2 days. Among the stars are Ferdinand de Lesseps Suez Canal certificates and a 16th century loan from Antwerp.

Mario Boone scheduled its next sale of antique stocks and bonds for 5 and 6 November 2022. That's right, the auctioneer applies a new event format which starts in Antwerp with an international bourse on Saturday morning. The live auction kicks off at 2 PM in the same venue. On Sunday, the second part comprises of a internet/mailbid auction. 

Altogether more than 1700 lots will be hammered in Boone's upcoming auction.  This is an opportunity to see many stunning certificates like this one. Noted security printer Charles Crabbé produced this 1902 share from the Paris-based Crédit National Assurances. L(ot) 353 starts at €100.

Latin America is excellently represented. More than 300 lots fill several chapters : Latin America lot range 534-556 , The Carribbean Collection L729-861, Venezuala Collection L862-965. All of these are scheduled on Saturday, and then there is another Latin America chapter, L1518-1580, on Sunday.  

Some of the interesting items are :

• The Cuban Central Railways Ltd £100 debenture from 1899 shows two small vignettes and is rare, L544.
• Lots 806 through 828 includes several Panama Canal certificates.
• L887 shows a frontal view of a steamship on a Orinoco Steamship Company bond printed in 1902 by the International Bank Note Co. from New York.
• The Société de Recherches de Temascaltepec (Mexique) was organized to mine for silver in Temascaltepec. L1569

L548 in the auction is a share in the Syndicat des Placers Guyanais. The company was formed in 1913 to dig for alluvial gold and diamonds. An overseas department of France in South America, French Guiana's currency is the euro. Gold mining, often done illegally, is still one of its main industries today. Bidding starts at €200.

Included in the sale are several certificates signed by or issued to historic figures, such as:

• members from the Rothschild banking family, L402 through 415, 
• Paul Kruger, President of the South African Republic, L296
• L499 shows the signature of Robert Surcouf, the French slave trader and privateer who raided British ships
• A Nederlandsche Handel-Maatschappij share issued to the Dutch King Willem III, L441.

The auction catalog's Autographs index refers to many more personalities, including Ferdinand de Lesseps !

On March 23, 2021, container ship Ever Given gets stuck in the Suez Canal and disrupted global trade for six days. The consequences were incalculable: industries were impacted with shortages, e.g. of semiconductors. The non delivering of food resulted in price rises and livestock shipments were suspended.

The Suez Canal connects the Mediterranean Sea to the Red Sea. It was constructed by Ferdinand de Lesseps' Suez Canal company between 1859 and 1869.  

Boone offers a set of printer proof bonds from the company's 1879/80 loan, all different and unique. One of these is corrected by Ferdinand de Lesseps himself, and personally signed by him. His handwritten signature in scripophily is of the highest rarity. The set of certificates deserves a place in any top collection highlighting France, Egypt, Canals & Transport, and even World History. Start price €10,000 .

The 16-18th century chapter counts more than 50 lots of shares, bonds and related financial documents. Among these "prehistorics" are 

• bonds from the Flemish cities Antwerp, Aalst and Oudenaarde (L480, L482, L484)
• a 1759 share in the Compagnie Royale Prussienne de Bengale , L511
• whaling and canal companies, L486 & L514
• 18th & early 19th century French privateer companies, L489 through L499, and an American one, L533
• a collection of 108 French lotteries issued between 1699 and 1828, L501
• a put option certificate of the Bank of England as early as 1730, L516

An amazing discovery is L480, an Antwerp city bond for 100 Carolus Guilders from 1558. Issued on vellum, it has a large Antwerp city seal in red wax showing 'Het Steen', the still existing 13th century castle. The bond was part of a loan granted in 1555 by Charles V, Holy Roman Emperor and King of Spain.

At the start of the 16th century Antwerp belonged to the Habsburg Netherlands, then part of the Holy Roman Empire. The city was a major shipping base for Spanish and Portuguese merchants importing sugar and raw produce from overseas. Antwerp became the main business centre around the Atlantic. Its wealthy bankers lended money to governments in Europe.

Between 1555 and 1556, Charles V split his empire into an Austro-German and a Spanish branch. As a result of Charles's abdications, the Habsburg Netherlands were left to his son Philip II of Spain. Thus became Antwerp part of the Spanish Netherlands. 

During these decades war with France was never far away. Also the Catholic Church in the Spanish realm had to be defended against the upcoming Protestant Reformation. The loan was raised to finance the construction and maintenance of the fortifications of Antwerp, the so-called 'Spaanse omwalling' (Spanish ramparts). These were built on order of Charles V from 1542 onwards.

€5000 is the start price for this top item that has witnessed a florishing but turbulent Flemish and Spanish 16th century.

As usual the sale includes a large chapter of USA scripophily, presented in both the Saturday and Sunday sessions of the auction. 

• There is an opportunity to buy a Southern State Bonds Collection as a single lot (L649-L728). When there is no buyer then the collection will be regrouped by state, each one then offered as one group lot. In turn, these, when not sold, will be split into single item lots. 
• US railways are plenty. You can find an interesting review on this chapter on Coxrail News and Announcements, see here     

The National Glass Company from Pittsburgh, Pa., was a short-lived glass trust. It owned several factories in places like Dunkirk, Ind., Cumberland, Md. and Marietta, Oh. They specialized in colored table glassware and decorated lamps. This $1000 bond from 1901, a Western Bank Note print, starts at €50. L1708

It is impossible to address all items in this sale, but there is a way to find out more about them. Here are the auction details :

• Dates
• 5 November 2022, Antwerp Crowne Plaza Hotel
• International Bourse 8h30-12h 
• Live auction 14h-18h30
• 6 November 2022, mailbid and online auction
• Further info : 
• online catalog & bidding, see here 
• or via the Invaluable platform (large images), see there 
• and the PDF version of the catalog can be found here 

Even if you are not a collector 5 November 2022 is an opportunity to see some great antique securities. The venue is the Antwerp Crown Plaza. The public bus stops right outside the place and takes you in 10 minutes to Antwerp Central Station. 

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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HSK's upcoming auction in Hamburg features more than 1100 lots of historic securities

28 May is the day when HSK's 41st auction takes place in Hamburg. This time HSK brought together more than 1100 scripophily lots. Bonds and shares from Berlin real estate developers, the Wolfgang Tartz collection, are part of many top-quality items included in this sale.

The event starts with a talk by Claus Müller titled The beginnings of the Russian mining industry in Ukraine, financed with foreign capital. After the auction a collector's bourse precedes a joint dinner.

From the American auction section,  L(ot) 62 is a rare bond from The Colorado Bonanza and Union Tunnel and Mining Company issued in 1891. The company was founded that year to dig for Colorado gold in Gilpin County. The upper vignette shows its mining operations near Bates Hill and Maryland Mountain. Remarkable, a cross-section of that same view tells us about the Bonanza and Union tunnels that were to be excavated. 

Scripophily from all continents is represented in the auction. Major sections are dedicated to America and Germany with in particular Bremen & Niedersachsen, Hamburg, Schleswig-Holstein & Mecklenburg-Vorpommern.

Some noteworthy items from the European section :

• L256 is a 1886 share in the Compagnie Générale des Bateaux Parisiens with riverboat vignette. The company operated commuter riverboat services around Paris. 
• Illustrated with a Roman! pyramid, L298 is a lovely share certificate from the Public-Auto SA per il Servizio delle Automobili da Piazza in Roma e Altrove, a public transport company in Rome.
• The Manchester Race Course Association share from 1848 features a detailed vignette of the company's grandstand, L287. 

The Eidgenössische Bank AG, aka Banque Fédérale SA, Zürich, was one of the most important Swiss commercial banks. It became part of the Schweizerische Bankgesellschaft (SBG) in 1945 (later UBS). The sale features two of the company's sought-after share certificates. L260, dates from 1893, see image, and  L261, from 1917. 

Before I discuss the Berlin real estate developers collection, let me point out some interesting German certificates :

• L881, a "Stamm" (Kux, mining share) in one of the earliest mercury mining companies from Germany is a top item in HSK's auction. The share in the Quecksilberwerke am Lemberg, issued in 1846, shows excavation activities, the smelting of mercury ore, and is adorned with leaf scrollwork in beautiful blue printing. Check the word 'STAMM' in detail : each letter is designed as a trunk (another meaning of the word STAMM). A very rare, small work of art.
• Carosseriewerke Schebera Aktiengesellschaft from Berlin dealt in automobiles and produced car bodies. The 1922 specimen share, L692, illustrated with a horse carriage and two of the company's automobiles, bears the facsimile signature of Jacob Schapiro, car dealer, taxi entrepreneur and stock market speculator, who became a large shareholder of Daimler-Benz.
• Art Deco enthousiasts will love L941, a 1923 issued share from the Textil-Kunst Aktiengesellschaft from Dresden.

Architect Ludwig Richard Seel designed the city hall for Königsberg, known today as the Russian city of Kaliningrad. Seel is known for building the Parliament and Ministry of Justice in Tokyo. Königsberg's city hall, completed in 1912 and illustrated on this Stadthalle Königsberg share from 1907, included concert halls, a restaurant and a cafe. During the Nazy era, many artists lived in Königsberg to work independently of state control. The building was destroyed in World War II. Restored in the 1980s, it is now home to the Kaliningrad Regional Museum of History and Arts. L930 

The Wolfgang Tartz Collection counts over fifty bonds and shares from Berlin real estate development and property companies.  The collection was assembled over a period of many decades. Lot range 570 through 624.

Between 1750 and 1850 Berlin's population tripled to over 400,000 people. In 1871 Otto von Bismarck unified Germany. Berlin, the capital of the new German Empire, became the center of politics on the European continent. Von Bismarck created a favorable investment climate for the city's development. A large numbers of industrial workers and their labour unions, bankers, entrepreneurs, scientists and artists made Berlin a thriving but fast growing city. By 1910 the number of Berliners amounted to 2,000,000. 

The public square and transport hub of Alexanderplatz is recognizable from afar thanks to Berlin's nearby 368m heigh Fernsehturm. With hundreds of thousands of passers-by and visitors  Alexanderplatz is the most visited area of Berlin. 

Founded in 1912, the Aktiengesellschaft Alexanderplatz managed a number of houses at Alexanderplatz and nearby, including Hotel "Alexanderplatz". This 1000 Reichsmark share from the same year is part of the Wolfgang Tartz collection. L572 

There is a lot more to discover in the sale, so here are the details :

• Date : 28 May, 2020
• Location : Hamburg
• Further info, see here; PDF catalog see there; live bidding is possible through connect.invaluable.com/dwa 

Though called a share certificate (Anteil-Schein) this is an interest-free lottery bond from the still existing Ski-Klub Oberstaufen. It was issued in 1920 for "the purpose of building a first class ski jump". Since the 1960s several international slalom competitions were held in Oberstaufen won by champions like Vreni Schneider and Ingemar Stenmark.  Note the logo with skis. L902 in the auction. 

F.L.

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April sees a new Spink London auction of world bonds & share certificates

SPINK's Bonds and Shares Department has put its latest sale of 2022 online. The auctioneer offers over 600 antique securities from all continents. This online auction ends at 11AM, April 19, 2022. One of the highlights in the auction is this China Mercantile Co. share from the Qing dynasty, L(ot) 102.

The China Mercantile Co. was founded in 1903 as a trading and holding company. The company owned a bank, a porcelain factory, and an export freight company. San Fransico was one its major destinations. The company traded in Chinese and oriental products, tea, silk goods, baskets, brooms, brushes, brass goods, jewelry and art goods. This $20 shares certificate, printed in London by Gilbert & Rivington, dates from 1905 and shows two flags : the Qing dynasty flag with dragon, and possibly the company flag. Rare, L102 

Scripophily from the UK is richly represented. More than 170 lots are divided in separate sections: aviation, bridges/docks/piers, commercial & industrial, hotels & entertainment, mining, motors & cycles, railways & engineering, shipping & shipbuilding. Some of the many interesting items are: 

• L258 is a stock certificate in the Southport and Cheshire Lines Extension Railway, issued in 1890, with vignette and embossed seal of early locomotive. 
• Shares certificates from The Fairey Aviation Company Limited are rarely seen. The company built biplane torpedo bombers and other aircraft. Its share, L282 in the sale, was issued in 1956, a year before Fairey built the Rotodyne vertical takeoff airliner. 
• Roach River Oyster Fishery Company, Limited, 1913, vignette and fine embossed seal of fishing boat, L406 

The UK Mining section consists of 51 lots. This is L323, a 5 shares certificate from the St. Gennys Mining Company, St. Gennys, North Cornwall. Printed on vellum and issued in 1835, this is an early and striking example of using guilloches as a security printing feature. 

The auctions includes stocks and bonds from Africa, Asia, Europe, Oceania, and South America. Dedicated sections contain scripophily from the USA, Confederate States of America, Canada, Australia and New Zealand. 

New Zealand counts 17 lots in the sale. This is L65, a bilingual 5 shares certificate from 1904 in The New Zealand Consolidated Gold Mines, Limited. Maori warriors adorn this print by Eden Fisher & Co. 

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

• Location : this is an Internet only sale
• Date:  Apr 19, 2022, 11 AM
• Further info : see here , PDF catalog there 

F.L.

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FHW presents unique stocks and bonds from the Austro-Hungarian Empire

FHW's upcoming auction takes place on February 26, 2022 in Wolfenbüttel, Germany. The town is home to both the world-famous Jägermeister distillery and the headquarters of the Freunde Historischer Wertpapiere.  

The sale includes 1910 lots of scripophily: antique share certificates and bonds from all continents will go under the hammer. Large sections include the Austro-Hungarian Empire, USA, Germany pre 1945, Germany DM era, Russia and the Baltic States, and China.

The Zillertal Railway is one of the most popular attractions in Tyrol. Its line opened in 1902 and runs along the Ziller river between Jenbach and Mayrhofen. Tourists and railway enthusiasts from all over the world enjoy a ride with the company's steam operated trains. This founder share, issued in 1903, designed in lovely Art Nouveau style, features vignettes from Jenbach, Zell am Ziller and Fügen. L(ot) 497 in the auction, Zillerthalbahn AG, starts at €1,500

The k. u. k. Doppelmonarchie, aka the Austro-Hungarian Empire, existed between 1867 and 1918. The "kaiserlich und königlich" refers to "imperial (Austria)" and "royal (Hungary)".  The state comprised Austria, Hungary and parts of todays Italy, Serbia, Croatia, Romania, Slovakia, Czech Republic, Poland and Ukrain. As such it was the second-largest country in Europe after the Russian Empire at over 620,000 km2. 

The sale features 350 k.u.k. lots including a lovely Zillerthalbahn share, image shown above. Some more examples from other Austro-Hungarian certificates are:

• Actiengesellschaft der Liesinger Bräuerei, share from 1872, wide vignette of the brewery buildings, L153. 
• Several hotel companies are included in the the k.u.k. section such as 
• L164, Actien-Gesellschaft Hotel Goldenes Lamm, 1872, lodgings vignette in the underprint 
• US President Theodore Roosevelt once stayed in the Hotel Krantz, L272 and L273
• The luxury Grandhotel Pupp is located in Karlovy Vary (Karlsbad), Czech Republic, and can be admired in the movies Last Holiday, starring Queen Latifah, and Casino Royale, with James Bond. L274 
• Railway collectors will appreciate the tens of railway companies that are included in this section. Some examples are: 
• Grazer Tramway-Gesellschaft, L264, 
• Innsbrucker Mittelgebirgsbahn, L279, and, 
• one of the highlights in the auction, L310, K. K. Priv. Prager Eisenbahngesellschaft, Prague, share from 1828, one of the oldest railway companies in continental Europe.

Included in the Austro-Hungarian section is this Spar- und Kredit-Verein des Janus share. This bank was formed by the Janus wechselseitige Lebensversicherung-Anstalt, a mutual life insurance business, to provide financial services to its members. The amazing vignette shows a portrait of Janus with the two faces. This Roman god controlled the beginning and ending of conflicts. The certificate, issued in 1914, was produced by M. Salzer, one of the oldest printing companies of Austria. Matthäus Salzer (1799-1878) expanded the printing works of the Salzer family into a factory. He bought in 1866 the Carl Ueberreuter printing house. L430 in the auction starts at €200 

The auction includes two German scripophily sections presented by more than 400 lots : 

1. Germany before 1945, lot range 1142 through 1429, and 
2. Germany after 1945 'DM era', range 1430 - 1620. 
3. On top of that you can add the "50% vom letzten Ausruf" section, range 695 - 1141, which contains many German items unsold in previous auctions but now listed at 50% of the original start price.

The printed (PDF) catalog contains indexes on themes and German regions. The online sites provide key word search functions. I tried the word Magdeburg and found more than twenty lots such as L943, a rare 200 Thaler share from 1872 in the Magdeburger Brückebau-Anstalt in Buckau bei Magdeburg with corner vignettes of bridges.

Vignettes on antique securities often display smoking chimneys alluding to productivity and profitability. Being a child of its time, this specimen share from the MEMBRAN Aktiengesellschaft für Finanzinformationssysteme delivers the same message by means of a then expensive desktop computer system with two diskette disk drives. Issued in 1987, Berlin, L1558 is part of the 200 lots counting DM era section.

In its auctions FHW features top American items, especially scripophily from railroad companies. This time the USA section includes about 300 lots.  Some examples are : 

• a rare Colorado Northern Railway Company share, L1698, with vignette of a train exiting a tunnel, starts at €500
• Civil War Major General Grenville Mellen Dodge who later became the Union Pacific's chief engineer signed the Denver, Texas and Forth Worth Railroad bond, rare, L1711
• L1769, Chicago and Oak Park Elevated Railroad Company, stock certificate from 1908, great vignette of steam train on elevated track

From the USA section, this share in The Defender Gold Mining Company not only looks spectacular but tells a surprising story as well. Incorporated in Colorado the company prospected in the Cripple Creek gold district. It was founded in 1895 when the American sloop Defender defeated its British challenger, the Valkyrie III, in the America's Cup race. The share shows the winner, the "Auld Mug" trophy, shipping ropes and the company name, all of them in gold-print. L1706 in the sale 

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

• Date : 26 February, 2022
• Further info, see here; PDF catalog see there; live bidding is possible through https://connect.invaluable.com/dwa/  

F.L.

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SPINK UK's first scripophily sale of 2022 presents Australian gold mines, British stone companies, American cattle businesses and lots more

SPINK UK launched its e-auction of world bonds & share certificates. 601 scripophily lots go on the block. The online sale started earlier this week, and its bidding window closes on Jan 31 at 12:00. The Down Under chapter in the sale consists of more than 50 lots. 

The Australasian Gold and Finance Corporation Ltd registered in 1896. The company dealt in mining properties in Western Australia, Victoria and Waihi, New Zealand. This share from 1897 has an exceptional vignette of a prospector with kangaroos and emus. L(ot) 39 in the auction starts at £50.

Here are some more Australian examples: 

• L16 Melbourne and Suburban Railway Company, 1859, vignette of surveyor and navvy presenting train on bridge, riverboat and map, embossed seal with train 
• The Central Australian Ruby Mining and Prospecting Co., Ltd, 1888, L45 
• Along the Howqua River archaeological quarry sites from the Taungurong people were found. The river area would later be mined by the Chief of Howqua Gold Mining Company, L48 
• Kelly's Freehold Gold Mining Company, Rutherglen, Victoria, 1898, wide vignette of mining operations, L65

The Canadian section features this £100 bond from the Toronto, Grey and Bruce Railway Company issued for 999 years in 1884. People bought these certificates which could be traded on the securities market. Though due in 2883, the Canadian Pacific Railway recently repaid the outstanding bonds. At £60, L385 is expected to attract buyers. 

A section of 30 Russian lots includes many Maikop oil certificates. 

About 150 lots of British bonds and shares, divided over several sections, represent themes such as canals, shipping, railways, mining, sports and entertainment. Some British examples :

• Several slate, stone and granite companies are offered, such as the Hard Stone Firms Ltd, see image below.
• The Grimwith Lead Mining Company, certificate for 2 ordinary shares, 1867, mines at Appletreewick, near Pateley Bridge, Yorkshire, embossed seal, fine vignette of mine entrance, L277
• A high denomination share of £10,000 in the Wheal Stackhouse Mining Company, L302, was issued in 1836, Truro. The company operated tin and copper mines in St. Enoder, Cornwall.
• The Crystal Palace housed the Great Exhibition of 1851 in Hyde Park, London. It became a symbol of progress, L317 and L318
• Lot range 185 through 194 consists of 18th century South Sea annuities

The Hard Stone Firms, Limited was formed in 1897 with offices in Bath. The company owned granite quarries in Cornwall and Devon. Cornish granite was used for the Eddystone Lighthouse located on the dangerous Eddystone Rocks, roughly 15 miles south of Plymouth. The rocks submerge below the surface of the sea. The lighthouse appears both in the vignette and in the embossed seal. L278 in the auction.

The USA is the largest country represented in the auction. Several American sections cover themes like railways, mining, oil and turnpikes. This time there is also a nice series of livestock scripophily. Some examples with great vignettes: L570 Dale Land and Cattle Co. (Texas), L573 Lea Cattle Co. (New Mexico) and L576 North Moccasin Live Stock Co. (Montana).

L582 in the sale is this $1000 bond from the Union Cattle Company. Issued in 1886 it shows off its cow breed and the company's cow brand embossed in the gold seal. 

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

• Location : this is an Internet only sale
• Date : Jan 18 12:00 - Jan 31 12:00, 2022
• Further info : see here 

F.L.

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American mines, British rails, and lots more, are going on the block at Spink

SPINK's latest timed scripophily auction went live and ends at 11 AM BST on August 10, 2021. This online sale presents more than 500 lots of antique bonds and shares from all continents.

The Keystone Gold Mining Co. incorporated in New Jersey, 1888. This share, printed by Stewart, Warren & Co., shows a remarkable vignette of an arch with a prominent keystone locking the other stones in place. The company's mines were located at Miquel County, Colorado. L(ot) 474 in the auction 

The sale includes an impressive section of more than 70 American mining stocks and bonds. Some noteworthy examples :

• The Indian Queen Mining and Milling Company, 1881, mines at Esmeralda County, Nevada, vignette of native American woman, L447 
• The Klamath Placer Mining Company, $500 6% Gold Bond, vignettes of mine site and native American on horseback, 1902, L478, only 240 issued 
• The Helena Mining Company, certificate for 3000 shares of $10, 1891, fine vignette of mountain peak with train in valley, mine in Leadville, Colorado, L424

It was Sir Edward James Reed, Chief Constructor of the Royal Navy, who suggested the founding of The Channel Tubular Railway Preliminary Company Ld., in French : Société Préliminaire du Chemin de Fer Tubulaire de la Manche. The company planned the construction of a railway tunnel through the Channel to connect England with France like today's Eurotunnel. The project failed due to political considerations. This 5 Parts de Fondateurs, issued in London, 1892, with Reed's signature, shows the cliffs of England and France, and a train traveling through a tube across the Channel. L151

SPINK's British offerings cover themes like banking, mining, motor cars, but also less obvious ones like golf and horse racing. Here are some interesting certificates from the railway section :

• Parsonstown and Portumna Bridge Railway Company, £10 shares, 1861, then part of Great Britain, a rare Irish railway company with no happy ending (check catalog), L170 
• L148 is a certificate for 40 shares, issued Edinburgh, 1846, in the British and Irish Union Railway Company 
• London, Brighton, and South Coast Railway, 5% preferential £50 share, 1847, L165, rare  

 

The Australian Agricultural Company was formed in 1824 with a capital of £1 million and a grant from the Crown of 1 million acres of land in New South Wales. The company became one of the largest exporters of coal from the Colony and built its own railways - the first one in Australia - to serve its pits. Convicts formed a major employee type of the  AACo. The company still exists today operating feedlots and farms covering about 1% of Australia's land. It is listed on the Australian Stock Exchange as AAC. This early Australian share, with a Golden Fleece embossed seal, is one of the auction highlights. L2 

To conclude this post, here are some interesting items from the catalog's other sections :

• L95, Paarl Kohinoor Developing Syndicate, £25 share, ca 1889, South Africa, diamond mining, rare
• L297, and L298, are shares from The British Honduras Syndicate Ltd, 1890s, banana business, large and gorgious vignette !
• L138 is a 1916 bond from The Holy Synod of The Empire of Russia 
• Watertown and Madison Railroad Company, 2nd mortgage bond $1000, locomotive vignette, fine scrollwork, rare US railroad scripophily, L410

Gustave Doré, born in Strassbourg, France, was a succesful painter and illustrator. The exhibition of his work in London, 1867, led to the foundation of the Doré Gallery in Bond Street, London. The building became later Sotheby's London headquarters ! This share from 1890 shows a vignette of the artist. L251 

You can find more of these fascinating stocks and bonds in the SPINK online catalogue. Here are the auction details : 

• location & date : online only, this timed auction ends on : 10 Aug 2021, 11:00 AM BST
• online catalogue see here  

F.L.

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Watermarks in Scripophily – part 1 Introduction

This article is an introduction into a lesser known aspect of securities : watermarks. If you don’t know what a watermark is then hold a banknote toward a light source. Against the light a design appears, at least this is the case on many banknotes. 

Watermarks can be seen on official documents, banknotes, stamps, cheques and also bonds and shares. When you investigate a new entry for your collection, you want to look for a watermark. 

However, most certificates don’t show watermarks; no wonder that many collectors overlook this feature. Yet, now and then you will be surprised by what emerges from the dark side. 

image 1a. The shortlived Nira Valley Sugar Co had a factory at Malegaon in Maharashtra, India. It operated a narrow gauge railway at its sugar cane mill. This share was issued to Maharaja Ganshyamsinhji Ajitsinhji of Dhrangadhra, Bombay, 1920.  

image 1b. Viewed against a window on a sunny day, the share reveals in the lower border a watermark of the paper manufacturer "STANLEY". The four black dots in the corners of the ‘watermark’ image are the silhouettes of little magnets used to hold the certificate in place on a semi-transparant screen when photographed. Click image to enlarge

Watermarks were first developed as the paper manufacturer’s hallmark. Early Italian paper manufacturers from the 13th century started experimenting with this idea. Watermarks that were created by the paper makers themselves are a first category of watermarks in scripophily. See image 1a en 1b as an example. 

How are these things created ? Watermarks are drawings created in paper during the paper manufacturing process. They are produced by having a design raised on the rolls through which the paper pulp is passed during manufacture. 

The designs applied on the rolls cause density variations in the produced paper. In turn, these density variations make an image or a pattern appear in the paper in the form of various shades of lightness and darkness.

image 2a. The Tambracherry Estates & Wynaad Gold Mining Co Ltd had mining operations in the Indian state of Kerala but eventually purchased estates for the cultivation of coffee, tea, and the like. £1 shares, London, 1882.  

image 2b. Written upwards along the right border, a watermark shows “WATERLOW & SONS”, the printer of this certificate. The watermark image was taken on a cloudy day, hence the darker appearance.

Printers of banknotes realized that watermarks in notes could be used as an extra anticounterfeiting device. Halfway through 17th century Stockholms Banco was the first bank that applied a watermark in a banknote; it revealed the word ‘BANCO’. 

Later, security printers adopted the technique and occasionally applied tailor-made watermarks that identified the printing house. This type of watermarks forms a second category. See the Waterlow & Sons example, images 2a & 2b.

In addition to watermarks from paper manufacturers and printers, governments and companies have issued certificates that were produced with customized watermarks. In most cases these comprise the name of the issuer, or the latter’s coat of arms or logo. This is a third category of watermarks in scripophily. As an example, see images 3a en 3b. 

image 3a. Some issuers of securities ordered their own watermark. Here is a Reserve Bank of India certificate for Rs100 issued in 1935. 

image 3b. The entire watermark design almost forms a share on its own including the name ‘RESERVE BANK OF INDIA’ in front of large sun with rays, and a triple line border, all around the certificate. Click image to enlarge

There is little scripophily literature that addresses these features. I know of two books : World War II Remembered, by C Frederick Schwan & Joseph E Boling, and Alexander Kipfer’s Historische Wertpapiere der Spanischen Königlichen und privaten Handelsgesellschaften des 18. Jahrhunderts. 

The comprehensive Schwan/Boling volume describes numismatics, in the broadest sense, including bonds, issued by the WW II powers, and where applicable watermarks are described or illustrated. You can find more details on this work here.

Kipfer’s book describes the securities of the 18th century Spanish trading companies. Also here a handfull of these have been identified as bearing watermarks. 

images 4a and 4b. The Real Compañia de Filipinas took over the Real Compañia de Comercio Establecida en Barcelona in 1785. As a result the company obtained a trade monopoly with the Philippines. Depending on the paper that was used, some of its 250 pesos shares from 1785 display a watermark, others don’t. Alexander Kipfer spotted the stylishly elaborated letters 'AF' on some shares from this company. 

The Schweizer Finanz Museum provided the left image. The other one  was taken from the Alexander Kipfer's book with permission of the publisher Haag & Herchen GmbH.

I'm planning some follow-up articles for later to illustratie the variety that exists in these watermarks on bonds and shares : 

• Watermarks by paper manufacturers
• Watermarks by printers
• Watermarks by companies & governments
• Watermarks that really stand out

image 5a. and 5b. Examples from the third category, custom watermarks used by companies or governments, can be astonishing. 

This Indian Post Office 5-Year Cash Certificate for 20 Rupees, 1935, shows off its watermarks created in several shades of dark and light. You can detect a repeating pattern made up of the words GOVT of INDIA and the Star of India emblem. Joe Boling, co-author of WW II Remembered, identified the dark letters as the British royal cipher, GRI, which stands for Georgius Rex Imperator, or George, King (of Britain) and Emperor (of India). Click image to enlarge

If you have a certificate with a remarkable watermark, then you can email me an image. But be carefull while handling the certificate. You don't want to end up with a torn corner or a heavy fold.

F.L.

This article was published in Scripophily magazine No. 113, August 2020.

You might be interested to read : Watermarks in Scripophily - part 2 Paper manufacturers 

Previous posts

• (Finnish scripophily) Book : Osakekirjat Kertovat 
• Taxonomy of a certificate : Iowa Union Telephone and Telegraph Company 

Antique securities up for sale at SPINK's Autumn 2020 Bonds and Shares auction

Spink and Son Ltd specialises in the auctioning of stamps, coins, banknotes, medals, autographs, books, wines, bonds and shares. Their latest sale went online earlier this week and ends at 11 AM, Sep 22. Over 650 lots of antique securities will go on the block. 

The auction features many historic and decorative share certificates. This one, L(ot) 564 in the auction, is from The Bluebird Copper-Gold Mining Company Ltd. The print features a great vignette of a mountain bluebird which lives in open country across western North America. Click the image to enlarge. 
P. H. Franklin from Salt Lake City founded The Bluebird Copper-Gold Mining Company Ltd in 1901. He signed this 1902 share as president. Other co-founders were M. J. True, Jos. Kittinger and F.A. Fox, all three from Buffalo, NY, and C.S. Hutchinson from Syracuse, NY, the location of the principal office. Operations took place at Milford, Beaver County, Utah. 

At stake in this sale are historic and vintage stocks and bonds from many countries. Main sections include British canals, civil engineering, docks & harbours, piers, bridges and railways, as well as Irish railway scripophily and stocks and bonds from American mining and railroad companies. 

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 vignette on this 1852 share certificate shows a train and a horse-drawn barge nearing a canal bridge. L120 in the auction. 

The auction features over 250 bonds and shares from British railways, canals, docks & harbours, and pier and bridge companies. Some examples :

• Historic is L119, a share in the company 'for making the rivers Mercy and Irwell navigable from Liverpool to Manchester, in the County Palatine of Lancaster', dated 1724 ! Ten years later small boats were able to sail from the centre of Manchester through to the Irish Sea. Printed on vellum, extraordinary lettering, red wax seal with sailing ship and paper revenue stamps, genuine signatures, in other words lots to enjoy. 
• A red paper seal depicting a bridge adorns The Hoarwithy Bridge Company share from 1855. L333
• Two shares from the Vauxhall Bridge company, L362 and L363, parade a stunning copper seal. The first iron bridge over the Thames river opened in 1816.
• L283 St. Helen's and Runcorn Gap Railway, early share from 1830 
• Train watchers can be spotted on The Leeds and Thirsk Railway Company share from 1846, L227 

A series of 23 Irish lots follow, most of these consisting of scarce railway securities. The following Newry Navigation Company share offers a splendid vignette and a great story.

Francis Jack Needham, Earl of Kilmorey (1787-1880), purchased this share in 1834. Lord Kilmorey had married Jane Gun-Cuninghame in 1814. He became High Sheriff of Down. Over fifty years old  Francis Jack became the legal guardian of the twenty year old Priscilla Anne Hoste. She was the daughter of the late Admiral Sir William Hoste and Lady Harriet Walpole. The Earl and Priscilla quickly became lovers and ran off together. A year later, in July 1844, they had a son, Charles. The Earl acknowledged his son and gave him his surname. He housed his wife and his beloved Priscilla in adjoining houses connected with a tunnel. L392, Newry Navigation Company 1834, £50 share issued to Francis Jack Needham, Earl of Kilmorey. 

The second half of the sale counts over 250 lots from North, Central & South America.  A selection from the catalog :

• Atrato Mining Company, Colombia, 1880, unique vignette of river dredging activity, detailed map of South America in embossed seal, and more to see, L428 
• L415, Bolivia Trading Company, 100 shares of $10, 1902, large llama vignette 
• L433 is a rare Consolidated External Debt of Costa Rica £100 bond from 1886 
• Puget Sound, Chelan and Spoke Railway Company, share certificate from 1910 with triple pane vignette 
• Stock ticker vignettes are seldomly seen, but here is one on the Electric Reporting Company share from 1884, L624 

The Guayabillas Mining Company operated near Yuscaran, Honduras, where the Spaniards found gold and silver in its foothills in 1746. L439 in the sale

Make sure you check out online more of these wonderful securities. Here are the details :

• Location : this is an Internet only auction
• Date : Sep 2 15:00 - Sep 22 11:00.
• Further info and online catalog: see here 

F.L.

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