Thursday, October 27, 2022

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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Wednesday, September 21, 2022

Over 1500 lots of historic securities go on the block in FHW's upcoming sale, including an amazing share from Frederick the Great's Chinese trading company !

Freunde Historischer Wertpapiere (FHW) has scheduled its next sale for October 8, 2022. This time the auctioneer selected more than 1500 lots of historic bonds and share certificates. Major sections have been reserved for scripophily from Germany, the German DM era, USA and a series of more than 200 lots from other countries worldwide.



One of the highlights in the sale is this share in the Hippodrom-A.-G. Frankfurt am Main. The company was founded in 1897. Its main building was used to promote equestrian sports in public events and festivities and had the largest indoor riding arena of Germany. Allied bombing destroyed the hippodrome during WW II. Reportedly only four of these shares were discovered in the 1980s. L(ot) 756 in the auction is expected to realize €2,800. 


The German chapter presents over 750 lots from the pre-DM period and covers all regions and branches. A dedicated Deutschland Top 20 section, lot range 748-767, bundles the high-end items.  The auction also includes the Klaus H Reifenrath Collection consisting of 69 rare Kux and mining shares from the Siegerländer Erzrevier mining area.



The auction includes several shares designed in Art Deco. This one, issued in 1922 by the Mechanische Buntweberei J. Sim. Fleißner Aktiengesellschaft, a textile company from Münchberg, illustrates one of the company's modern fabric designs. L730 starts at €100. 


All lots are well-illustrated with high quality images on the Invaluable online platform. However, the Top 20 section includes even more in-depth information with extra illustrations in the catalog's PDF version (links see further below). 

Some examples from the German chapter  :
  • The Central-Afrikanische Seeen-Gesellschaft operated gold mines and saltworks in the African Great Lakes region, then part of German East Africa. Seeen is German for lakes. This 1000 mark share was issued in Hamburg, 1902 and starts at €900, L384.
  • The 1855 share from the Steinkohlenbau-Verein zu Rochlitz, a coal mine company, shows the city of Rochlitz, gnomes at work and an explosion in their mine, mined rock with imprints of fossilized plants and lots more. Extremely rare, this is in my opinion the most awesome German share certificate. L763, a top item, starts at €9,000.
  • L926 starts at €320. The share from the Sundwiger Eisenhütte Maschinenbau-Actiengesellschaft displays a lovely Jugendstil design.

Time to highlight the absolute top item in the auction.



Four years after Frederick the Great became King in Prussia he annexed in 1744 the independent city-state of Embden (Emden), then the most important trade port on the North Sea. Eager to give Prussia a share of the Asian trade similar to the V.O.C. or the British East India Co., Frederick the Great granted the privilige in 1751 to found the Emden Trading Company
The company, also known as the Königlich Preußische Asiatische Compagnie in Embden nach Canton und China (Royal Prussian Asiatic Company in Emden to Canton and China) was allowed to conclude contracts with foreign Asian rulers in the name of the King of Prussia. The Emden company owned four ships that made six voyages to Canton bringing back tea, porcelain and other goods. 
The company operated independently - the king's main interest was filling the Prussian (war) treasury - and became the first modern German stock corporation, i.e. without state influence.


The share, L760 in the auction, issued in 1752 for 500 Reichsthaler in Friderichs d'Or is the oldest German share known. 
It is also the oldest share in the German language. A complete translation of the text on the obverse, as well as a hint on its non-German provenance, can be found in the latest issue of Scripophily magazine, No. 119 August 2022. 
The clipping shown here says [..the Company's ships which shall sail] to Canton in China as well as other places in India .. . The document must be the oldest known share mentioning the word China as well. Start price €50,000.


The sale's Deutsche Mark section comprises of more than 230 lots, including a Top 20 chapter. To mention a few : L1146 is a 20 shares certificate in the Erste Kulmbacher Actienbrauerei AG (EKU), 1990, showing the company's logo with crown and prize medals, €75; L1249 Teutoburger Wald-Eisenbahn-Gesellschaft, Hamburg, 1951, unissued share, starts at €200. 



The Aachener Kleinbahn-Gesellschaft and the Rheinischen Elektricitäts- und Kleinbahnen AG merged in 1942 into the Aachener Strassenbahn und Energieversorgungs-AG (ASEAG). The company provided local public transport in the Aachen city region. During the Battle of Aachen, 1944, Allied troops used tramcars loaded with explosives and ammunition as rolling bombs on the sloping routes from Siegel and Grundhaus to the city center, which, however, caused little damage. This share, from 1954, shows a high voltage power pole and tram car in the underprint. Bids for L1088 are welcome from €40 onwards. 


The USA section features more than 200 lots. Here are some interesting examples to look for:
  • L1429 is stock certificate in the Lamb's Run Oil Company coming from an old collection. Printed by Chandler from Philadelphia, 1865, it shows two vignettes of early oil derricks. The company was incorporated in Venango County, Pennsylvania where the biggest oilboom sparked only a few years earlier. €100
  • Confederate States of America, 8% $100 bond from 1862, large vignette of the city of Richmond and portrait of C. G. Memminger, L1378, €300
  • €380 may buy you a Laramie, Hahns Peak and Pacific Railway Company 100 common shares certificate issued in 1912. The company was incorporated in Wyoming. The shares of this company are illustrated with 3 vignettes of a locomotive, lumberjacks and miners at work, Cox cat nr LAR-083-S-51. L1430



This share from the Compañia Ron Bacardi can be found in the sale's Ausland section (foreign countries). The company was founded in 1862 in Cuba and became worldwide known for its white rum and derived cocktails such as the Cuba Libre and the Daiquiri. The share depicts bats, the company logo, a bottle of Bacardi rum and many of its prize medals won at contests. It is issued to Emilio Bacardi y Rossell, great grandchild of Facundo Bacardi Massó, founder of Bacardi, and grandchild of Emilio Bacardi Lay, mayor of Santiago de Cuba. Note that the certificate was issued in 1955 during the Cuban Revolution. The Bacardi family left the country in 1960 after the government confiscated the company's assets in 1960. L102 starts at €150. 


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


F.L.


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Monday, September 5, 2022

Puzzling scripophily - No. 7

Unleash your detective skills !

Puzzle No. 7 is about a remarkable person. The correct solution reveals this person's first and last name.

The following three visual clues may help you solve the puzzle. These are images of antique stock certificates.
  • How to take part ? Submit your reply in the comments section of this post, or in any other way.
  • What's in it for you ? The first correct answer yields eternal fame.
  • When will the solution be revealed ? Check this particular blog post.




image courtesy HWPH 





Good luck and have fun !

F.L.



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