Thursday, June 23, 2022

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 


PS : Did you like this post ? Thank you for sharing it on your favorite social media channel !

Tuesday, June 14, 2022

Schweizer Finanzmuseum celebrates its 5th Anniversary

In its Permanent Exhibition the Swiss Finance Museum explains the origins of the economic system and the role of the stock market. This unique museum is home to a collection of 10,000 historic securities from more than 150 countries. 

Key historical pieces, combined with interactive videos and animations, historical film recordings and interviews, tell the story of the development of our modern financial economy. The museum, since 2017 located at the new headquarters of SIX in Zurich, celebrates its 5th Anniversary.

Schweizer Finanzmuseum
view on the Permanent Exhibition 
image courtesy Schweizer Finanzmuseum

The museum welcomes the public to its Open Day on July 2, 2022 from 11 am to 3 pm with a dedicated program : 
  • 11 am - 12 pm: Combined tour (permanent and special exhibition), in German
  • 12h30-1 pm: Guided tour through the special exhibition Sport & Geld, in German
  • 1 pm -1h30 pm: Guided tour through the special exhibition Sport & Geld, in English 
  • 2 pm - 3 pm: Combined tour (permanent and special exhibition), in German

Participants of the Open Day should register here

This stunning 500 Lire share from Pirelli, printed by the Milan-based security printer Brevetti Calcografia e Cartevalori was issued in 1947. It is one of several antique shares on display in the Sport & Geld special exhibition. Pirelli, one of the top tyre manufacturers in the world, sponsored sport competitions since the start of the 20th century. Its financial backing was/is important to e.g. the FIA Formula One World Championship, football club Inter Milan, the Chinese Super League (football), the Hungarian Grands Prix (motorsport) and the Alpine World Ski Championship. 
image courtesy Schweizer Finanzmuseum 

The current special exhibition Sport & Geld shows why money plays such an important role in sports. Using the sports of Formula 1, tennis, equestrian sports, soccer and skiing, the exhibition gives a glimpse of the financial aspect of physical exercise. Sport & Geld can be seen until July 15, 2022. On display here are a dozen historical shares. 

The museum then closes for the conversion up to and including August 25, 2022. Its new special exhibition Banks in Transition: from Counters to Apps will features securities as well.  The opening of this new exhibition is planned for the end of August.

More info can be found here (German), or there (English).


Sunday, June 5, 2022

The smallest company in terms of equity capital, is it ?

How much money do you need to start up a company ? How much money do you need to organize an airline ? Apparently, not that much.

Here is a share certificate from Croydon Airways Limited. The company was organized with a capital of only £100. 

The world's first airport air traffic control system with control tower and radio position-fixing procedures was developed at Croydon Airport. During the interwar period Croydon Airport was UK's only international airport, the home base of Imperial Airways. 

Former Surrey Flying Services pilot Tim Woods founded Croydon Airways in 1936. The business owned two De Havilland Dragonfly airplanes. Flight services to Paris were provided. 

The company's capital was divided into 100 £1 shares. Take a look at the certificate's image above. The certificate bears serial number 1 and represents 50 shares. In other words, it stands for 50% of the company's capital. 

The Croydon–Le Bourget route (to Paris) was then the busiest in the world. Yet, the company was already in receivership the next year. Undercapitalization may have been the reason.


Do you know of shares from even smaller capitalized companies ?

Previous posts