Belgian Association for Scripophily exists 40 years

The Belgian Association for Scripophily, in French: Association Belge de Scriptophilie (ABS), in Dutch : Belgische Vereniging van Scriptophilie (BVS), is a non-profit society that was founded 40 years ago in 1980. Ever since, the society's members gather once a month, to share news and discuss findings in our field of collection.

Two years ago member Denis Sagaert took the initiative to publish a free scripophily newsletter. More than reason enough to have a talk with him ! For the occassion, Denis choose the images for this post.

Alfred Van Neste (1874-1969) created the design for the founders share in the Société Anversoise de Cartonnages & Biseautages. The company, founded in 1899, was a book producer and publishing company from Antwerp. Van Neste, a landscape painter, illustrator and engraver, became one of Antwerp's most known poster designers. Click the image to enlarge and discover several illustrations from stages in early book production. The drawings are so prominent that the Art Nouveau elements in the border nearly escape our attention. Just below the rooster in the upper left corner you'll find 'SACB', the company's cypher (an interlacing or placing together of letters).

FL Denis, welcome to our virtual studio. How did you become a collector of antique securities ?

Denis I bought my first old shares in 2004 at a flea market in Brussels. As an  asset manager I was already very familiar with bonds and shares, but I had no clue about 'scripophily'. Two years later, I read a newspaper article written by the chairman of the Belgian society. I then became a member.

FL Do you collect certain themes ? 

Denis Yes, my main themes are Belgian-Russian shares, Belgian tramways and Belgian mining companies.

The Solvay company is a global player in the chemical and pharmaceutical business. The brothers Ernest Solvay and Alfred Solvay founded the company in 1863 to produce sodium carbonate by the Solvay proces. The vignette on the left is derived from the company's 50th anniverary medal made in 1913 by Belgian sculptor and medalist Victor Rousseau. In 1938 a similar, much larger bronze plaque made by Rousseau, was delivered for the Solvay memorial monument in Rebecq, the birthplace of the brothers. This bearer share dates from 1967, the year of Solvay's first public offering of shares to the public.

FL Denis, can you tell something about ABS/BVS ?

Denis Our association was founded in 1980 when scripophily was still a young hobby. ABS/BVS is a non-profit organization. Once a month we gather in Jezus-Eik, close to Brussels, and hold an auction for members. Occasionally, non-members are allowed to take part in a special auction either on-site or through submission of email bids. Also, people who still own some old cancelled bonds and shares, can contact our chairman for value estimations. They can also consign their 'non-valeurs' for sale at the club auction.

FL How many members does the society has ? 

Denis We have about 25 members.

FL I've seen that the newsletter is mainly written in French. Do most members speak French ?

Denis There are a little more French speakers. We have a small group of members from France! But there is no big difference with the number of Dutch speakers.

Banker André Langrand-Dumonceau founded in 1863 the Banque de Crédit Foncier et Industriel. From the 1850s through the 1860s Langrand-Dumonceau tried to build a major Catholic financial group in Europe to counterbalance the so-perceived Jewish dominance in the financial sector. He became manager of tens of financial companies. He founded Royale Belge, one of the largest Belgian insurance companies. Pope Pius IX, King Leopold of Belgium, Napoleon III of France, and other European notables supported Langrand-Dumonceau's activities. However, by 1870, his financial empire collapsed and he fled to the USA. Langrand-Dumonceau signed this 1863 certificate for 20 shares of 500 Francs. 

FL Denis, the society has an interesting website. What does it offer ?

Denis The site hosts a very extensive online database of antique securities (*). Of course, you can find information about our club and our hobby. In case of a 'special auction', we put the auction catalog online as well.
(*) Editor's note: you can search among more than 40,000 bonds and shares

FL You decided to publish a newsletter. What is it about ?

Denis We have a lots of resources on Belgian business histories, like the Moniteur and Recueil Financier year books. We bring topics on Belgian scripophily. In cases where a foreign company has a Belgian connection, eg. through its shareholders, then we might bring topics on foreign corporations too. In all cases, the content should be a combination of financial history and known bonds and shares.

FL Denis, was there a particular reason to start the newsletter ?

Denis Well, in the first place, we hope our members find it interesting, but publishing a newsletter is also a great way to give visibility to our association. The number of collectors in Belgium is diminishing. Hopefully, we can attract new members with this project.

L'Ikelemba was an agricultural and trading company, especially in rubber. The company's assets were located in the Ikelemba river bassin, in today's Democratic Republic of the Congo. The Lithographie du "Messager de Bruxelles" produced this share from 1898, a great example of a chromolithograph. Instead of using techniques like intaglio printing (e.g. engraving) or raised relief (wood-cut), this printing process was based on a flat surface printing method. The drawing was made on a special stone. By means of chemicals, ink was attracted by the drawing and repelled from the surrounding areas. In the case of multiple colors, separate stones were used for each color. A single print went through the press separately for each 'color' stone. The big challenge was to keep the resulting color prints aligned to form a unified image.  

FL I can't resist asking the next question, I'm a bad person, but what is your favorite certificate ? 

Denis Hm ... one of my favorites is a L'Ikelemba, action de dividende, from 1898 and extremely decorative.

FL Denis, I want to thank you for this interview and wish you success with the newsletter. 

Related links

• Interested collectors can subscribe to the free ABS/BVS newsletter by contacting the society at scripophilybe@gmail.com 
• Association Belge de Scripophilie (ABS), Belgische Vereniging van Scriptophilie (BVS) 

F.L.

American scripophily in London

SPINK UK's latest auction went online last week and ends on March 17, 2020. Exactly 330 lots of intriguing antique bonds and shares will go on SPINK's E-block.  

SPINKS' sale bulks with stunning vignettes on securities printed for pioneering American companies. The Greyhound Motors Corporation, later renamed the Greyhound Motor Car Company, was one of the first companies that designed a little sports car, the "Trinca Patent Body", an idea by Frederick Trinca. L(ot) 196 in the auction, this $10 shares certificate from 1920 invites bidders from $120 onwards.

At stake in this auction is scripophily from many themes such as automobiles, aviation, shipping, railroads, finance, coal, iron and gold mining, oil companies, government and municipal loans, and more. The securities have something in common : they made American history.

The Sunflower Gold Mining Company from Colorado Springs was founded during the Cripple Creek Gold Rush. This gorgious share, L240, dates from 1897

Spink and Son Ltd was founded in London in 1666. The company specialises in the auctioning of  stamps, coins, banknotes, medals, bonds & shares, autographs, books and wines. When specialist Mike Veissid joined SPINK in 2008 the company set up the Bonds & Shares Department. 

The Lewis and Clark Centennial and American Pacific Exposition and Oriental Fair from 1905 took place in Portland, Oregon. It was set up to celebrate the centennial of the Lewis and Clark Expedition, the first American expedition to cross the western part of the US. The exposition was a major success and welcomed from June through half October, nearly 12,000 visitors per day. L306

The auction features several shares issued to or signed by famous personalities. A stock certificate for 100 shares in the Irving Trust Company is issued to, and signed on the reverse by IBM founder Thomas J. Watson, L206. An East End Electric Light Company stock certificate from 1893 is issued to and signed on the reverse by electrical pioneer George Westinghouse, L295. A temporary share in The Edison Portland Cement Company, likewise but Thomas Alva Edison, L296.

After being a school teacher for about a year Caleb Davis Bradham (1867-1934) started his own drug store. His 1893 recipe for "Brad's Drink" used kola nut extract, vanilla and "rare oils" and would become world famous as Pepsi-Cola. This Pepsi-Cola Company share was issued in 1922 to C. D. Bradham and signed by him on the reverse. Rare, bids for L317 start at $1,000.

The largest section in the sale is formed by a contingent of 137 American railway securities. Some highlights here : L45 Aspen Short Line Railway Company, 1889 specimen bond; L52 The Baltimore and Ohio Railroad, $10,000 bond, 1902, signed by George Eastman (Kodak) on reverse. A top example of American steel engraved vignettes can be found in L158, a 1853 $1000 bond from the Virginia Tennessee Rail Road Company.

This 1884 stock certificate in The Atlantic-Pacific Railway Tunnel Co shows a railway tunnel through a mountain (click image to enlarge). Note the gold seal which is embossed with a frontal view of a train coming out of a tunnel. Bidding on L48 starts at $70.

There is much more to discover for yourself in the other sections of the online catalog as well, e.g. shipping and oil.  Here are the sale's details

• Location : online auction only
• Date : ends on 17 March, 2020 at 1:30 PM
• Further info : see Spink's online catalogue with full color images here
• Note: The sales takes place in London, bids are mentioned in USD.

F.L.

Societăți pe acțiuni românești în Austro-Ungaria - Hârtii de Valoare Istorice - Colecția Alois Weil

Societăți pe acțiuni românești în Austro-Ungaria is a brand new volume on antique securities from Romanian companies formed in the Austro-Hungarian Empire (1867-1918), more specifically in Transylvania.

The book, a large format, multicolor, hardcover publication was put together by authors Alois Weil, Gabriel Căsap and Ion Chirescu. It is illustrated with share certificates, mainly from financial companies, from the Weil collection.

Transylvania is a region in central Romania. The term is also used to refer to a larger area that includes parts of Crișana and Maramureș, and the Romanian part of Banat. Up through the 19th century Transylvania was an agricultural society. The Austro-Hungarian Compromise of 1867 (Ausgleich) made Transylvania a part of the Kingdom of Hungary. At the end of World War I Transylvania was united with Romania.

Here's a picture from the book's table of contents (in Romanian), click image to enlarge. Notice the bound bookmark produced with the colors of the flag of Romania.

The authors presented their book on February 10, 2020, in the presence of hundreds of Phd students and invited guests, in the „Lucian Blaga” Central University Library, Cluj-Napoca. The event also featured an exhibition of shares of banking companies from Transylvania.

The Allgemeine Versicherungsbank Transsylvania AG is one of the companies that is discussed in the book. This share was issued on Jun 21, 1918, only a few months before Transylvania became a part of Romania Dec 1, 1918. Illustrated are the coats of arms of the seven provinces of Transylvania. 
image courtesy : BooneShares, auction Oct 2018 

Some more details about the book :

• Title :  Societăți pe Acțiuni Românești în Austro-Ungaria - Hârtii de Valoare Istorice - Colecția Alois Weil, in English: Romanian Joint-Stock Companies in Austria-Hungary - Historical Shares and Bonds - Alois Weil Collection
• Authors : Alois Weil, Gabriel Căsap and Ion Chirescu
• ID : ISBN 978-606-93235-9-5, publised by Art Group-România, under the aegis of Museum of Romanian Records, 2019
• Languages : Romanian, with a summary chapter in English and German
• Number of pages : 349
• Images
• nearly 200 large color images of share certificates 
• about the same number of detail images and vignettes from these securities 
• over 200 enlarged images of signatures seen on the securities
• many postcards of company premises, pictures of significant business people, and the like
• Index : no index, but one of the chapters contains a table with the details of 185 banking institutions organized as joint-stock companies

The stunning certificate illustrated on the left is from Plugarul, s.p.a. în Cacova, a credit company that serviced the agricultural sector. 'Plugarul' is Romanian for plowman. The share is signed by Ioan Opreanu, president of the Cacova parish committee (see signature in detail).

Click image to enlarge

Company entries in the book are grouped by historical period. Each company is discussed in its historical context. Most shares are illustrated together with enlarged images of the signatures of the company officers who signed them, each one briefly identified and described.

This is a top work for anyone interested in Romania, Austria-Hungary, banking, and of course, artistic designs in scripophily !


F.L. 

Related link

• scripophily from Siebenbürgen (German for Transsylvania), thank you for the tip Roland !

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