bond and share certificates of the world- 15018

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STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

69 Southampton Row, Bloomsbury, London WC1B 4ETwww.spink.com

BONDS AND SHARECERTIFICATES OF THE WORLD

29 MAY 2015

LONDON

£25

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BANKNOTES

24/25 June The Numismatic Collector’s Series Sale New York 3228/9 July World Banknotes London 1502816 August Banknotes of South East Asia Sale during the International Exhibition Singapore 1503827 August The Numismatic Collector’s Series Sale Hong Kong CSS1729/30 September World Banknotes London 150091 October World Banknotes London 1500914 November The Numismatic Collector’s Series Sale Hong Kong CSS19

SALE CALENDAR 2015

The above sale dates are subject to change

Spink offers the following services:– VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS –– SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

STAMPS

16 May Gems of Chinese Imperial Post in Taiwan Hong Kong CSS1616 May The Philatelic Collector’s Series Sale Hong Kong CSS1219 May Western Australia from the Vestey Collection London 1502420 May Swaziland, The Award-Winning Collection formed by

Peter van der Molen, RDPSA, FRPSL London 1503520/21/22 May The Philatelic Collector’s Series Sale London 1502317 June The “Lionheart” Collection of Great Britain and British Empire – Part V London 1503915/16 July The Philatelic Collector’s Series Sale London 1502615/16 July The Philatelic Collector’s Series Sale New York 15121 July Postal History and Historical Documents London 1503717/18 August Stamps and Covers of South East Asia Sale during the International Exhibition Singapore 1502717/18 August Antique Maps Sale during the International Exhibition Singapore 1504026 September The Philatelic Collector’s Series Sale Hong Kong CSS14

COINS

14 May The Slaney Collection of English Coins – Part 2 London 1503124/25 June The Numismatic Collector’s Series Sale New York 3221/2 July Ancient, British & Foreign Coins and Commemorative Medals London 1500527 August The Numismatic Collector’s Series Sale Hong Kong CSS1722/23 September Ancient, British & Foreign Coins and Commemorative Medals London 1500614 November The Numismatic Collector’s Series Sale Hong Kong CSS192/3 December Ancient, British & Foreign Coins and Commemorative Medals London 15007

MEDALS

23 July Orders, Decorations, Campaign Medals & Militaria London 1500219 November Orders, Decorations, Campaign Medals & Militaria London 15003

BONDS AND SHARES

29 May Bonds & Share Certificates of the World London 1501824/25 June The Numismatic Collector’s Series Sale New York 32227 August The Numismatic Collector’s Series Sale Hong Kong CSS1714 November The Numismatic Collector’s Series Sale Hong Kong CSS1927 November Bonds & Share Certificates of the World London 15019

AUTOGRAPHS

21 July Postal History and Historical Documents London 15037

WINES

25 June Whisky, Cognac and Other Spirits Hong Kong SFW1415 August Whisky, Cognac and Other Spirits sale during the International Exhibition Singapore SFW1517 September Whisky, Cognac and Other Spirits Hong Kong SFW1612 October Whisky, Cognac and Other Spirits Hong Kong SFW1715 January 2016 Whisky, Cognac and Other Spirits Hong Kong SFW18

GROUP CHAIRMAN AND CEO

Olivier D. Stocker

YOUR SPECIALISTS

STAMPS

UK - Tim Hirsch FRPSL Guy Croton Fernando Martínez David Parsons Nick Startup Neill GrangerPaul Mathews Dominic Savastano Tom Smith Ian Shapiro (Consultant)

USA - George Eveleth Richard DebneyEUROPE - Guido Craveri Fernando Martínez

CHINA - Tommy Chau Doris LoCOINS

UK - Richard Bishop Eleanor Charlotte DixTim Robson Jon Mann Barbara Mears John Pett

USA - Greg Cole Luke Mitchell Stephen Goldsmith (Special Consultant)CHINA - Kin Choi Cheung

BANKNOTES

UK - Barnaby Faull Andrew Pattison Monica Kruber Thomasina SmithUSA - Greg Cole Stephen Goldsmith (Special Consultant)

CHINA - Kelvin Cheung Pei Po ChowBONDS & SHARES

UK - Mike Veissid Andrew Pattison Thomasina SmithUSA - Luke Mitchell

Europe - Peter ChristenCHINA - Kelvin Cheung

ORDERS, DECORATIONS, MEDALS & MILITARIA

UK - Mark Quayle Oliver Pepys John HaywardBOOKS

UK - Philip Skingley Jennifer MulhollandAUTOGRAPHS

USA - Greg Cole Stephen Goldsmith (Special Consultant)WINES

CHINA - Guillaume Willk-Fabia

YOUR EUROPE TEAM (LONDON - LUGANO)

Chairman’s OfficeCharles Blane

DirectorsTim Hirsch Anthony Spink

Auction & Client Management TeamMira Adusei-Poku Grace Hawkins Rita Ariete Dora Szigeti Tatyana Boyadzhieva

John Winchcombe Craig Bower-Parker María Martínez Maurizio Schenini

FinanceAlison Bennet Marco Fiori Mina Bhagat Dennis Muriu Hemel Thakore Veronica Morris

IT & AdministrationBerdia Qamarauli Michael Addo Liz Cones Curlene Spencer

Tom Robinson Cristina Dugoni Giacomo Canzi

YOUR AMERICA TEAM (NEW YORK)

Auction Administration and Marketing & DesignSonia Alves Amit Ramprashad

Finance & AdministrationAleena Nieves

AuctioneerLuke Mitchell

YOUR ASIA TEAM (HONG KONG - SINGAPORE)

AdministrationAngie Ihlo Fung Newton Tsang Sue Pui Arthur Chan Doris Lo Gary Tan

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SALE DETAILS

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SALE LOCATION

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BONDS AND SHARE CERTIFICATESOF THE WORLD

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Spink 15018 Catalogue Pages:Layout 1 6/5/15 14:53 Page 1

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bonds and share CertifiCates of the World

MISCELLANEOUS LOTS & COLLECTIONS 1 - 7

AFRICAMISCELLANEOUS LOTS 8ALGERIA 9 - 10ANGOLA 11BELGIAN CONGO 12DJIBOUTI 13ETHIOPIA 14FRENCH EQUATORIAL AFRICA 15 - 16MOROCCO 17MOZAMBIQUE 18 - 19SOUTH AFRICA & RHODESIA 20 - 37TUNISIA 38 - 39

EGYPT, OTTOMAN EMPIRE & MIDDLE EASTEGYPT 40 - 60OTTOMAN EMPIRE 61 - 67PALESTINE 68 - 74PERSIA 75

ASIACHINA

Collections and lots 76 - 83Foreign Loans 84 - 183Internal Loans 184 - 187Provincial Loans 188Municipal Loans 189 - 191Companies 192 - 204

INDIA 205 - 213JAPAN 214 - 233KOREA 234PHILIPPINES 235 - 236SARAWAK 237THAILAND/SIAM 238 - 240

AUSTRALASIAAUSTRALIA 241 - 255NEW ZEALAND 256 - 257

CANADA 258 - 261

EUROPEAUSTRIA 262 - 263BELGIUM 264 - 265BULGARIA 266 - 271CROATIA 272 - 274CYPRUS 275CZECHOSLOVAKIA 276 - 277DANZIG 278ESTONIA 279 - 281FINLAND 282 - 283FRANCE 284 - 302GERMANY 303 - 306GREECE 307 - 308HUNGARY 309 - 310ITALY 311 - 317

LITHUANIA 318 - 319LUXEMBURG 320NETHERLANDS AND COLONIES 321NORWAY 322 - 325POLAND 326PORTUGAL AND COLONIES 327 - 336ROUMANIA 337SERBIA 338SPAIN 339 - 359SWEDEN 360 - 380SWITZERLAND 381

GREAT BRITAIN & IRELANDGovernment Finance 382 - 391South Sea Company 392Canals & Inland Navigation 393 - 402Railways 403 - 446Shipping & Shipbuilding 447 - 450Buses & Taxis 451 - 452Motor Cars & Cycles 453 - 459Banks, Insurance & Finance 460 - 465Mining 466 - 476Sport & Entertainment 477 - 483Hotels, Breweries, Food & Drink 484 - 485Commercial & Industrial 486 - 502

LATIN AMERICAARGENTINA 503 - 507BOLIVIA 508 - 510BRAZIL 511 - 519CHILE 520 - 521COSTA RICA 522 - 523CUBA 524 - 530DOMINICAN REPUBLIC 531ECUADOR 532 - 533EL SALVADOR 534GUATEMALA 535HAITI 536MEXICO 537 - 551PERU 552POYAIS 553 - 554PUERTO RICO 555URUGUAY 556 - 561VENEZUELA 562

RUSSIAState Loans 563 - 579City Loans 580 - 589Railways 590 - 600Commercial & Industrial 601 - 611British Companies 612 - 613

UNITED STATES OF AMERICAMiscellaneous Lots 614Confederate States 615 - 616Commercial 617 - 620British Companies 621 - 625

ORDER OF SALE


FRIDAY 29 MAY 2015

commencing at 10.00 a.m.All Sales are subject to the Terms and Conditions for Buyers printed at the back of this catalogue.

Please note that bidders who acquire lots on the-saleroom.com will have a fee of 3% on the hammer price addedto their invoice for using this facility. Spink is pleased to continue to offer our brand new on-line bidding platform

Spink Live for no charge through www.spink.com.

EstimatesThe estimated selling price of each lot is printed below the lot description and does not include the Buyer’s Premium.

Bidders should bear in mind that estimates are prepared well in advance of the sale and are not definitive.They are subject to revision.

Notes on CataloguingDates in the catalogue are shown thus – 18[95] – where the 18 is printed and

the numbers in brackets are inserted by hand.

Serial numbers of lots are shown in most cases.

3

may 29, 2015 - london

4A group of mainly gold mining certificates fromRhodesia, Russia, Mozambique, Australia andSouth America, including Bembesi District GoldClaims Ltd., 189[6], black on pink paper; East GwandaMines Ltd., 190[5]; Victory Gold Mining Co. Ltd.,1898; Victory Ltd., 1886; New Gold Fields SyndicateLtd., 1895; Loddon Valley Goldfields Ltd., 190[1];Zapopan Mines Ltd., 189[5], and Lena Goldfields Ltd.,5 shares, [1919], green, with coupons, mixed conditionbut many very fine and a useful lot. (17)

£100-1505An accumulation of certificates from Canada, SouthAfrica, New Zealand, Brazil and Mexico, includingCanadian North Pacific Fisheries Ltd., 19[11], vignetteof beached whale; Tararu Creek Gold Mining Co. Ltd.,10/- shares, 189[900]; New Heidelberg RoodepoortGold Mining Co. Ltd., 18[96]; Revolver ConsolidatedReef Gold Mining Co. Ltd., 188[8]; Molyneux MinesConsolidated Ltd., 189[6], and Velvet Rossland MineLtd., 19[03], mixed condition, many fine and very fine.(59)

£180-2206A group of Russian and other European certificates,comprising Soc. Industrielle Charbonniere etMétallurgique du Bassin d’Ouspensk, 250 roubleshares, 1896 (4); Couleurs et Produits Chimiques deSaint Petersbourg, 200 franc shares (6), and juissanceshares (4), all 1899; Trust Franco-Belge des Petroles,500 francs share, 1920 (4), oilwells at left and right;Emailleries de Lougansk, ordinary share, 1904 (4); LesAteliers de Kharkoff Constructions pour Meuneries,100 franc shares, 1895 (4); Soc. Métallurgique du Sud-Oural, 500 franc shares, 1898 (9), preference shares of266⅔ francs, 1910 (24) and 500 franc bonds, 1910(30); S.A. Belge-Galicienne des Pétroles, 500 francpreference shares (5) and dividend shares (5), 1897, oilwell at top left, and Palacio de Hielo y del Automovil deMadrid S.A., 500 peseta share and dividend share, both1921, building at top, generally very fine to extremelyfine. (96)

£200-300

MISCELLANEOUS LOTS AND COLLECTIONS1A collection of bonds and shares from variouscountries, including Egyptian and General TrustLtd., 100 shares, 190[8], crocodile, river andpyramids, with coupons; Wildberg GreatConsolidated Mining Co., Prussia, supplementarycoupons for £100 debenture, 1859; Gold Fields ofSiam Ltd., 50 shares of £1, 18[89], 2 examples;S.A.Andre Citroen, tenth preference share, 1937, atenth bond for 1000 francs, 1936 and Chemin deFer du Sud de L’Autriche, de la Lombardie, 1886,mixed condition but many fine and very fine. (49)

£60-80

2A group of bonds and share certificates fromaround the World, including Chemins de FerEthiopiens, 500 franc share, 1899, huge vignette ofKing and his entourage waiting for an oncomingsteam train; Grand Russian Railway, 1867; BrazilRailway Company, preference share, 1912;Honduras Government Railway Loan, 1869, bondfor 300 francs; Cie du Chemin de Fer Sao-Paulo &Rio-Grande, 500 franc bond, 1902, and, GreatYarmouth Steam Trawling & Carrying Co. Ltd.,18[73], a mixed condition lot but many fine and veryfine. (29)

£80-100

3A group of certificates, comprising an uncancelledAnglo-Russian Cotton Factories Ltd., seconddebenture, 1897, blue, pink underprint, withcoupons; Tooting Bec Golf Club, £20 debenture,1906, together with membership certificate, printedin black and red on vellum; Allied Road TransportsLtd., ordinary and preference shares, 19[20], brownand black respectively, and others (4), fine to veryfine, the first extremely fine. (9)

£80-100


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7A large group of bonds and share certificates fromaround the world (185), many from Russia,Roumania, Brazil, Hungary, a little duplication,including Chinese fractional certificates, BancoHipotecario de Credito Territorial Mexicano; City ofVeracruz; Brazil Railway Company; MadagascarAuxiliary Mining & Banking Corporation Ltd; Docks& Ateliers du Haut-Bosphore; Tramways deSimferopol; Mouettes Genevoises; South West RandtMines Ltd., 1895, and Potash Syndicate of Germany,£100 bonds, both annotated “VALIDATIONREFUSED” and hole cancelled, mixed condition butmany fine and very fine and worth inspection. (185)

£300-400

AFRICA

MISCELLANEOUS LOTS8A collection of Belgian and French Colonial Africacertificates, comprising Banque Coloniale et deTravaux Publics, 100 franc bearer share, no.015388,ornate border and vignettes of steam ship at port,docks, canal and factory and natives with camels, blueand green, with coupons, together with 15 moreFrench colonial certificates comprising; Societe desMines du Nord, 1888; La Kotto S.A., 1907;Compagnie Bordelaise des Comptoirs Africains;Compagnie Miniere des Petroles de Madagascar,1925; Societe Miniere & Fonciere du Bandama,[1912]; D’elevage et D’alimentation de Madagascar,1897; Societe Generale des Comptoirs Franco-Africains; Savana Societe Industrielle, Commerciale etFinanciere, 1952; L’union Fonciere, 1896; SocieteAuxiliare de la Regie des Alcools en Ethiope S.A.; andCompagnie Imperiale Chemins de Fer Ethiopens,1899, S.A. La Lulonga, dividend share to bearer,1898, no.0062, vignette of river and dwellings, largepalm trees, black with pink underprint, together with;Societe Anversoise du Commerce au Congo, bearershare without par value, 1897, no.4849, brown;Anglo-African Produce Company S.A., ordinaryshares, no.231, and others (4) about very fine toextremely fine. (23)

£120-150

ALGERIA

9Government Général de L’Algerie, 4% Loan, 1930,an unissued or possibly specimen bond for 1000francs, ornate Moorish border, blue and green, withcoupons, also with counterfoil, hole cancelled, veryfine and scarce.

£60-80

10Societe Immobiliere d’Algerie, ‘part beneficiare’Paris 1899, large format piece with vignette of harbourat bottom, black with pink underprint, with coupons;together with a collection of other certificates fromAlgeria, Morocco and Tunisia (13), including GrandsDomaines de France d’Algerie et de Tunisie, 200 francbond, 1895, generally very fine to extremely fine. (14)

£80-120

ANGOLA11Great Gold Zone Mining, Exploration & EstateCo. Ltd., a group of 4 certificates for £1 shares,18[89] or 18[90], text in Portuguese and English,black, together with various related paperwork, fine tovery fine. (4)

£60-80

Formed under Royal Warrant to work alluvial depositsalong the basin of the Lambige River.



5

BELGIAN CONGO

CONGO12La Lulonga, dividend share, 1898, no.5358,attractive river scene, yellow and black; together withL’Ikelemba, 100 franc shares, 1898, 2 examples, veryattractive pieces with natives and steam train andharbour scene; Government Lottery loan, 1888, 100francs, 4 examples; Houleries & Raffineries Africaines,founders share, 1929 and other African piecescomprising Comptoir Africain de la Falémé Abbona,Girard & Cie, 100 franc share, Paris 1895; CompagnieForestiere Sangha Oubangui, 100 franc share, Paris1928; Plantations d’Imperie, 100 franc share, Paris1928, fine to very fine. (11)

£80-100

DJIBOUTI

13Djibouti, Société Française d’Obock & du GolfePersique, nominative share of 100 francs, no.912,Paris 1881, ornate border with trees and flowers,cornucopia at top, black, yellow underprint, couple ofedge nicks, good very fine and scarce.

£80-100

ETHIOPIA

14Abyssinian Corporation Ltd., £1 ordinary shares,19[23], no.1229, elephant and lion at watering hole,heads of elephant and lion within scrollwork at left,black, printed by Waterlow & Sons, very fine andscarce.

£60-80

FRENCH EQUATORIAL AFRICA

15M’Poko; S.A. des Etablissements CongolaisGratry, ‘part beneficiare’ Lille 1906, no.15974,elephant and natives with spears, river boat, attractivefloral border, pink and brown, with coupons, good veryfine.

£120-150



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16Société Nouvelle des Sultanats du Haut-Oubangui,10 certificates for 100 franc shares, Paris 1927,attractive pieces with border vignette of nativescarrying and transporting goods, palm trees andwaterfront, blue and yellow, all with coupons, aboutextremely fine. (10)

£100-120

MOROCCO

17Empire Cherifien (French Protectorate ofMorocco), 4% Loan, 1930, bond for 1000 francs,no.381032, large format piece with photographicvignettes of monoplane flying over city, suspensionbridge, dockside and buildings, blue-green and black,with coupons, centre fold otherwise extremely fine.

£60-80

MOZAMBIQUE18Beira Railway Co. Ltd., a set of certificates issued bythe British South Africa Company, all dated 1893, for20, 50 and 100 shares, all signed by Alfred Beit asdirector, ornate border with steam train at bottom,wagons left, natives right, coat of arms at top, brownprinting with yellow, green and pink underprintsrespectively, fine and scarce. (3)

£120-150

19Mozambique: Compagnie d’Inhambane, a group of17 certificates for dividend shares, Brussels 1899, mapof the country at top showing the location ofInhambane between Beir and Lourenco Marques, red,yellow underprint, with coupons, one or two with edgenicks but generally very fine to extremely fine. (17)

£150-180

SOUTH AFRICA AND RHODESIA20A small group of mining certificates (9), comprisingVerdite Mines Ltd., 191[9]; Willows Copper(Argentiferous) Syndicate Ltd., 18[89]; PortElizabeth Madibi Co. Ltd., [1907]; New RooibergMinerals Syndicate Ltd., 190[8]; Pretoria-MiddelburgLand & Exploration Syndicate Ltd., 190[2]; ShebaQueen Gold & Exploration Ltd., 190[5]; UnitedReefs (Sheba) Ltd., [1906], and Rose Deep Ltd., twodifferent types of 1 bearer share, 189[902] and19[11], both with allegorical female, green, printed byWaterlow & Sons, generally very fine, some better. (9)

£120-150



7

21A small group of South African bearer shares,comprising French North Rand Estates Gold MiningCo. Ltd., 10 shares of £1, 1895; Henderson’s NigelLtd., 25 shares of £1, 1895; Lancaster West GoldMining Co. Ltd., 25 shares of £1, 1913; Rose DeepLtd., 1 share, 1910 and 25 shares, 1905; SouthAfrican Exploring Co. Ltd., 20 shares of 5/-, 1895;Total Gold Extraction Co. Ltd., 5 shares and 10 sharesof £1, both 1896, and, Western Kleinfontein Ltd., 5shares and 10 shares of £1, both 1895, all with ornateborders, a colourful lot, generally very fine and better.(10)

£140-180

22A group of early gold mining certificates,comprising Louise Gold Mining Co. Ltd., 188[9];Phoenix Main Reef Prospecting and DevelopingSyndicate, 188[9]; Roodepoort Central Gold MiningCo. Ltd., 1887; Malmani Primrose Gold Mining Co.Ltd., 188[8]; Belfast Gold Mining Co. Ltd., 188[6];O’Dowd’s Reef Gold Mining Co. Ltd., 188[8]; DuPreez Gold Mining & Estate Co. Ltd., 188[9];Central Montrose Estate & Gold Mining Co. Ltd.,18[90] and Golden Snake and Abbotsford Ltd.,18[89], mostly very fine, some better and an interestinglot. (9)

£150-200

23A collection of better Rhodesian miningcertificates, comprising Austro-RhodesianDevelopment Co. Ltd., £1 shares, [1902]; BuluwaypSyndicate Ltd., [1900]; Clark’s Consolidated Ltd.,[1895]; Geelong Gold Mining Co. Ltd., 189[7];Gwelo (Matabeleland)Exploration & DevelopmentCo. Ltd., 18[95]; Jessie Gold Mining Co. Ltd.,189[9]; Nelly & Pioneer Reefs Gold Mining Co. Ltd.,18[900]; North Bonsor Gold Mining Co. Ltd.,189[9]; Premier Tati Monarch Reef Co. Ltd., 18[96];Red & White Rose Gold Mining Co. Ltd., two typesboth dated 189[9]; Scottish Mashonaland GoldMining Co. Ltd., 19[09]; Sneddon Concessions Ltd.,189[7], and Somerset (Matabele) Development Co.Ltd., [1908], generally very fine. (14)

£150-200

24A group of early gold mining certificates,comprising Victoria Reef Gold Mining Co. Ltd.,[1888], head of Queen Victoria at top; Sun (BlackReef) Gold Mining Co. Ltd., 188[9]; New Callao andTrojan Consolidated Co. Ltd., 18[87]; Battery ReefGold Mining Co. Ltd., 18[88]; Malmani PrimroseGold Mining Co. Ltd., 188[9]; Belfast Gold MiningCo. Ltd., 188[7]; O’Dowd’s Reef Gold Mining Co.Ltd., 188[8] and Du Preez Gold Mining & Estate Co.Ltd., 188[9], mostly very fine, some better and aninteresting lot. (8)

£150-180

25An attractive group of early locally registered goldmining companies comprising Blaauwbank UnitedGold Mining Co. Ltd., 1888; Doornhoek Prospectingand Gold Mining Co. Ltd., 1888; Du Preez GoldMining & Estate Co. Ltd., 1889; Hotspur GoldMining and Developing Syndicate, 1889; New Callaoand Trojan Consolidated Co. Ltd., 1887; RepublicGold Mining Syndicate Ltd., 1887; Turffontein GoldMining Co. Ltd., 1887; Union Gold MiningCompany of Port Elizabeth Ltd., 1891; WelgegundProspecting and Developing Syndicate, Klerksdorp,1889, and West Griqualand Mining Association,1887, fine to very fine, a couple better, a few scarce. (10)

£180-220

26A collection of South African mining certificates(34), 1890 to 1921, including East Orion Gold MinesLtd., 1895; Transvaal Exploring Land and MineralsCo. Ltd., 1902; Uitkyk Exploration Syndicate Ltd.,1903; Ulundi Gold Mining Co. Ltd., 2 types, 1907and 1911; Van Ryn Gold Mines Estate Ltd., 1912;Village Main Reef Gold Mining Co. Ltd., 1900;Vogelstruis Gold Mining Co. Ltd., 1895; WoodstockTransvaal Gold Mine Ltd., 1904; WorcesterExploration & Gold Mining Co. Ltd., 1912, andZoutpansberg Consolidated Mines Ltd., 1903, mixedcondition but many are very fine. (34)

£280-320

27A collection of 36 Rhodesian mining certificates,all different, 1890’s through to 1930, some betterpieces noted, mixed condition, mostly fine to very fine,a few better. (36)

£300-400

28An accumulation of South African and Rhodesiancertificates (133), some 19th century, some modern,some duplication, a few good pieces included such asBritish West Charterland Ltd., 1895; Rooderand MainReef Gold Mining Co. Ltd., 1896; Pretoria Copper &Tin Fields Ltd., 1907; Robinson Gold Mining Co.Ltd., 1895, Verdite Mines Ltd., 1914, 4 examples, allwith large photographic vignette, and Rand CentralOre Reduction Co. Ltd., 5 shares and 50 shares, both1895, mixed condition but generally fine to very fine.(133)

£400-500



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29Ameib Exploration Company Ltd., £1 shares, CapeTown 19[11], no.17, large vignette of mountain withranch house in the foreground, affixed revenue stamp,about extremely fine

£60-80The Ameib Ranch in South West Africa was rich inminerals and this company was formed to exploit them.Cassiterite was first found here in 1910 possibly leadingto the formation of this company. Now a guest house andleisure facility.

30Arminia Diamond Mining Syndicate, £50 share,Kimberley 18[89], no.10, black, adhesive Caperevenue stamps at top, good very fine.

£60-80

31British South Africa Company, £1 shares, [1899],no.A284538, signed by Lord Gifford V.C. asdirector, coat of arms top centre, black, pinkunderprint, hole cancelled, very fine and rare earlydate.

£80-100

Major Edric Frederick Gifford, 3rd Baron Gifford VC(5 July 1849 - 5 June 1911), awarded the VC for hisgallant conduct in the third Ashanti war whilst a younglieutenant. Entered the Colonial service, working inWestern Australia and Gibraltar. Joined the board ofthe British South Africa Company in 1889.

32Commercial & Agricultural Bank of Natal, £5share, 186[0], scrollwork with coat of arms andstylised dolphins at left, black, heavily endorsed in red,together with two other Natal companies, CampbellNatal Collieries Syndicate Ltd., 189[7], ornate border,blue and Durban Harbour (Natal) Coal ProspectingSyndicate Ltd., 190[5], black, the first good fine, theothers very fine. (3)

£80-100

33East Rand Proprietary Mines Ltd. (Transvaal), aspecimen bearer warrant for 5 shares of £1, London19- (circa 1910), large format piece with very ornateborder coat of arms in centre, printed by W. W.Sprague & Co., blue and black, together with aspecimen £1000 debenture, 1898, large format, greenand black with pink underprint, both stampedCANCELLED/ W.W.SPRAGUE & CO. LTD., slightdiscolouration but very fine and scarce. (2)

£60-80

34French Rand Gold Mining Co., a group of 6certificates for 25 shares of £1, 190[2], attractiveWaterlow printed pieces with female head at top,ornate border, blue and black, with coupons, extremelyfine. (6)

£60-80

35South African Publishing Co. Ltd., £1 shares,Johannesburg 189[4], no.51, issued to SigismundNeumann and handsigned by J. Percy Fitzpatrick,ornate border, red, capital decreased by overprint inblack; together with other South African non-miningcertificates (3), comprising Cape Stockfarming Co.Ltd., £100 share, 188[3], no.831, black;Johannesburg Brick and Tile Co. Ltd., £1 shares,Johannesburg 188[9], no.309, ornate border, black,and Premier Rubber Corporation of South Africa Ltd.,10/- shares, King Williamstown 192[6], no.2361,rubber tree at left, brown, yellow underprint, all veryfine and better. (4)

£60-80Sir James Percy FitzPatrick, KCMG (1862 - 1931),South African author, politician, mining financier andpioneer of the fruit industry. He authored the classicchildren’s book, Jock of the Bushveld (1907). Secretary ofthe Reform Committee in 1895 which conspired tooverthrow Krugers South African Republic. Acted as go-between the Committee and Cecil Rhodes and LeanderStarr Jameson in Cape Town and was later tried andconvicted for high treason following the Jameson Raid.sentenced to two years but released in the same year.Continued his Government work and later became amember of Parliament on the establishment of the Unionof South Africa.



Lot 38

Lot 37

9

38Compagnie Franco Tunisienne de Navigation, 100franc share, Marseille 190[5], no.2232, attractivepiece with architectural borders, North African city atbottom left, harbour scene at bottom right, black, palemauve underprint, extremely fine.

£150-180

39An attractive group of certificates from Tunisiaand Algeria, comprising Mines de Plomb & de Zincdu Djebel Oudiba (Tunisie), founders share and 100franc share, 1924; Compagnie Tunisienne Fonciere,Agricole & industrielle, founders share, circa 1890;Soc. Fonciere de Tunisie, ‘part beneficiare’ and 100franc share, 1885; Cie des Mines de Mouzaias, 100franc share, 1853; Soc. Commerciale des ColonsAlgeriens, 100 franc share, 1924, and, Soc. Agricole &Financiere d’Algerie, 100 franc share, 1928, all withvignettes, most with coupons, very fine to extremelyfine. (8)

£80-100


TUNISIA

36Vaal River Diamond Co. Ltd., £1 shares, 18[89],10/- paid, no.359, mauve; together with KimberleyWhittock Diamond & Development Syndicate Ltd.,£1 shares, 1908, green, and, Klerksdorp Gold &Diamond Co. Ltd., 1901, green, generally very fine.(3)

£80-100

37Verdite Mines Limited, pair of one shilling sharecertificates, Johannesburg 191[8], no.8999, largerformat, green and black and Johannesburg 191[9],no.9213, smaller format, black, both with samephotographic vignette of mining scene, both good veryfine. (2)

£60-80

A hard stone mineral found originally in South Africaand extensively used in African carvings.


EGYPT, OTTOMAN EMPIRE & MIDDLE EAST

EGYPT

Page 10

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40A group of Egyptian certificates comprising Soc.Nationale de Transport et de Tourisme “Karnak”,1 share, 1946, temple in centre, brown with blueunderprint, with coupons; Alexandria Pressing Co.,one share, 1957, very attractive piece with Egyptianmotifs around border and cotton pressing factorybottom corners, green, with coupons, and Jardins &Vignobles d’Egypte, one share, 1947, attractiveborder of various fruits, blue and black, with coupons,all very fine to extremely fine.(3)

£60-80

41A collection of Egyptian Bank certificates,comprising Bank of Egypt Ltd., certificate for £25shares, 18[97], no.1350, scrollwork at left with Sphinxand palm trees, black, together with blank chequefrom the bank, Cairo branch, 190[-]; CommercialBank of Egypt, one share of E£4, Alexandria 1920,no.1416, architectural border, female walking in oasiswith pyramids and sphinx behind to left, blue andyellow, with coupons; Anglo-Egyptian Banking Co.Ltd., notice of half-yearly general meeting, 1882;National Bank of Egypt, certificates for 1 and 5 shares,Cairo 1948, red and brown respectively, also with acheque dated 1916, and transfer documents; LandBank of Egypt, founders share, 1905, 1 ordinary share,1905 (2 - 1 is hole cancelled), [1932] and [1933], 5ordinary shares, 1905 (2), and 25 ordinary shares,1905 (3 examples) and 1905, with capital increased to£1,000,000, 6 unissued ordinary share certificates anda mortgage bond for 500 francs, 1906, brown, mixedcondition, fine to very fine, some better. (29)

£100-150

42An attractive selection of Egyptian certificates,most with vignettes, comprising Rosetta &Alexandria Rice Mills Co., 1938; Societe Agricole etUrbaine “Le Fayoum”, 1947; Egyptian RoadConstruction Company. 1947; Societe Nationale deTrasport et de Tourisme “Karnak”, 1 share and 5shares, both 1946; Alexandria Pressing Company,1957, and Modern Buildings SAE, specimen, 1945, agood lot, all in very fine or better condition. (7)

£120-150

43An attractive group of Egyptian certificates,comprising Egyptian Road Construction Co., 1930,vignettes of laying road surface; Banque Industrielled’Egypte, 1899; Soc. Egyptienne d’EntreprisesUrbaines & Rurales, 1905; Grand Garages d’Egypte,2 different, both 1906; Wadi Kom-Ombo, 1905; Soc.Fonciere du Domaine de Cheikh Fadl, 1, 5, 10 and 25shares, 1938; Fadlab Estate Grieve & Co., 1911;Cotton Export Coy. of Egypt, 1920; Egyptian LandInvestment Co., £5 share and founders share, both1905; Comptoir Financier & Commercial d’Egypte,1906; Egyptian General Omnibus Co., 2 types, 1933;Societe des Terres Rares d’Egypte, 1931; EgyptianPerla Marble Co., 1931; Ameublement Krieger, 1923,and Societe Agricole de Kafr-El-Dawar, 2 types, both1907, all very fine and better. (22)

£140-180

44A group of Egyptian companies denomination inFrench and Belgian francs, comprising BrasserieFrancaise d’Egypte, 1881; Entreprises et de TravauxPublics, founders shares, 1881, 2 examples; SocieteFinanciere d’Egypte, 1863, 2 examples; BanqueGenerale d’Egypte, 1881; Boulangerie MecaniqueHygenique d’Egypte, 1899; Soc. Egyptienne de GazComprimes, 1921; Crown Brewery, 1899, 1921(2)and 1925; S.A. Agricole et Industrielle d’Egypte, 8different certificates 1897 to 1907; Sucreries et de laRaffinerie d’Egypte, 1897 and three different dated1906, and Soc. Belge-Egyptienne de l’Ezbekieh, 1905and 500 franc bonds, 1909, 10 examples, mostly veryfine and better. (35)

£150-200

45A lot of 63 Egyptian certificates, 1899 to 1939,with a small amount of duplication, some withvignettes, including Eaux de Caire, 1905, 2 types;Manure Company of Egypt, 1913; Cairo AgriculturalCompany, 1928; Bourse Commerciale de Minet-el-Bassal, 1923, 9 examples, and Egyptian Fibre Co.,1920, mixed condition, many have minor faults such asedge tears and heavy folds, some very fine. (63)

£300-400

46A large group of post 1940 Egyptian sharecertificates, some duplication, many with vignettes,some cancelled, noted pieces are Societe Nationale deTransport et de Tourisme “Karnak”, 1946; severalexamples of Jardins and Vignobles d’Egypte; CimentPortland Tourah-Le Caire; National Metal Industries,3 different with large vignette of ironworks; RasMallap Mining Company; Wadi Kom-Ombo; Societede Biere Les Pyramids; Soc. Fonciere du Domaine deCheikh Fadl; Alexandria Shipping & Navigation Co.,also a few insurance policies and banking receipts,mixed condition but generally fine to very fine and avery useful lot. (244)

£750-1,000



11

47Egyptian Ministry of Finance, a sole bill of exchangefor 97,500 piastres, 2nd January 1864, payable on the1st April 1865, signed by Ahmed-Rechid Pacha,Minster of Finance, also by bankers E. Dervieu &Co and H. Oppenheim, Neveu & Co., large format,text in French, Arabic and English, black on greypaper, endorsements on reverse passing throughseveral hands until accepted by Mayer D’Angeli on29th March 1865, an excellent example of Egyptianshort term borrowing, very fine.

£80-100

48Egyptian Ministry of Finance, a sole bill of exchangefor 77, 150 piastres, 2nd January 1864, payable on the1st August 1865, signed by the Minister of ForeignAffairs in Cairo, large format, text in French, Arabicand English, black on grey paper, endorsements onreverse to the Suez Canal Company and signed by itsagent Mr. Vernoni, an excellent example of Egyptianshort term borrowing, very fine.

£80-100

49Egyptian Ministry of Finance, a sole bill of exchangefor 195,000 piastres, 5th January 1864, payable on the1st April 1865, signed by the Minister of ForeignAffairs in Cairo, large format, text in French, Arabicand English, black on grey paper, endorsed on reverseto G.B.Vernoni, an excellent example of Egyptianshort term borrowing, small tear at bottom edge, veryfine.

£80-100

50Anglo-Belgian Company of Egypt Ltd., a group ofcertificates comprising a specimen for 1 share of £5,[1906], with facsimile signature of G. de Reuter,another dated [1919], with hand signatures, and aspecimen from the Bradbury, Wilkinson & Co.archive, with annotation for 1919, these all withcapital of £1,000,000 in shares of £5; together with 1share of £2 10s, two examples dated [1926] and[1928], with different secretarial signatures, capitalnow expressed as £1,000,000 in shares of £2 10s, allwith steam train at top; together with other companiesregistered in England, North Egypt Land Co. Ltd., 1share and 10 shares, 1905; Corporation of WesternEgypt Ltd., 50 and 100 shares of £1, 1904; H. deVries & Boutigny Ltd., provisional certificate, 1907,and, Egyptian Consolidated Lands Ltd., 5/- shares,1919, 5, 100 and 500 shares of 5/-, 1920 and 1925,mixed condition but generally fine to very fine andbetter. (14)

£120-150

51Egyptian Improvements Corporation, a group of71 bearer certificates for one £4 share, capital£1,000,000, Cairo [1906], ornate border withEgyptian designs of bird and Sphinx, blue & yellow,with coupons, mixed condition but many are good veryfine and better. (71)

£300-400

52Fayoum Light Railways Co., 4% debenture for £20,Cairo 1899, steam train at bottom stylised bird at top,Egyptian figures at sides, green, with coupons,together with other transport related pieces (4)comprising Chemins de Fer de la Basse-Egypte 500francs share 1896, another dated 1912 and a 250 francbond dated 1934, S.A. des Tramways du Caire, 1927,together with a small collection of British financedcompanies in Egypt comprising Egyptian Commercialand Trading Co. Ltd., 1865; Bank of Egypt Ltd.,1902; Egyptian Enterprise and Development Co.,1906; Egyptian Cotton Mills Ltd., 1900; EgyptianImprovements Corporation, 1906; Commercial andEstates Company of Egypt Late S. Karam & Freres,1904, and Land Bank of Egypt, founders share, 1905and an unissued ordinary share, circa 1905, mostlydecorative pieces, some with coupons, generally very fineand better. (13)

£120-150



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53Imprimerie Misr, a group of certificates comprising 1share of E£5, one unissued, another, [1926], withcoupons 1 to 25, no.208 and another, also [1926] butwith coupons to number 50, number in Arabic 06388,20 shares, [1926], no.1241 to 1260, and a certificatefor 5 bonds of E£10, 1924, all with similar design withvignettes of early screw press and a modern mechanicalpress, ornate borders, blue and brown printing, thelast cancelled, some edge tears, the 3rd fine, theremainder very fine. (5)

£60-80

54Indo-Egyptian Compress Company, a pair ofspecimen certificates, from the American Bank NoteCo. archives, both for 100 shares of $100, one to becountersigned by Continental Trust and the other byOld Colony Trust, cotton pickers at bottom, loadedwagons at either side of title, green, circa 1899 andblue-grey, circa 1900 respectively, with counterfoils,both overprinted SPECIMEN in red, extremely fine.(2)

£60-80

55Industrial Building Company of Egypt, 5 shares of£4, Alexandria 1912, no.12631-12635, very attractiveFrench style piece with nude female at left withdepictions of ‘labour’ and ‘industry’ behind, yellowand brown, with coupons, good very fine.

£180-220

56Manure Company of Egypt S.A., bearer warrant for5 shares of £E5, Cairo 1909, no.1641-1645, largepanoramic vignette of the sewage and manure workswith early automobiles and workers, black, pinkunderprint, text in English and French, with coupons,nearly extremely fine.

£60-80

57National Bank of Egypt, a pair of specimencertificates for 1 and 10 shares of £10, Cairo 1948,from the Bradbury, Wilkinson & Co. archives, largeformat with ornate borders, red and green respectively,text in English, Arabic and French, with coupons, thefirst overprinted SPECIMEN in blue, the second withprinters annotations at top, extremely fine. (2)

£60-80

58Société du Cercle Mohammed-Aly, one share of £5sterling, Alexandria 188[5], no.275, attractive piecewith ornate border incorporating vignettes of largebuilding and statue to left and right, green and black,rough edges at top and bottom, staining on all sides, fine.

£60-80

59Sucreries et de la Raffinerie d’Egypte, Soc. Gen., agroup of 100 franc shares, 1906 (24), ornate border,blue with yellow underprint, with coupons, 9 aredamaged with edge tears, the remainder very fine andbetter. (24)

£60-80

60United Egyptian Lands Ltd., a good group of bearercertificates for 1 deferred share, 190[7], 33 examples,and 5 deferred shares, 190[7], 11 examples, all largeformat with vignette of town by river, ornate border,green and blue respectively, with coupons, mixedcondition, some with tears at edges, mostly very fine. (44)

£600-700



OTTOMAN EMPIRE

13

61Imperial Ottoman 6% Loan of 1873, bond for £20,large format bond with ornate border, toughra in topcentre, black with blue underprint, text in French andEnglish, with coupons, couple of minor edge tearsotherwise nearly extremely fine.

£120-150

62Ottoman 4% Loan for the Soma-PandermaRailway, T£22 or 500 franc bond, 1911, largeformat, together with Unified Converted Debt, 1903,bond for £20, very large format, red; CompagnieGenerale d’Omnibus et d’Autobus de Constantiople,T£5 share, 1910, ornate border with horse drawn andmotor buses, 2 examples; Ottoman Company Ltd.,£20 share, 1865, 2 examples, others (2) and fractionalcertificates for arrears of interest on the 1928 loans,1930 (9), generally very fine to extremely fine. (17)

£80-100

63Ottoman Railway Company from Smyrna toAidin, £20 share, London 186[2], no.08827, ornatescrollwork at left, text in English, French and Arabic,impressed and adhesive revenue stamps, coupons re-attached, good very fine;

£150-200

64Ottoman Railway Company from Smyrna toAidin, £20 share, London 186[2], no.08830, ornatescrollwork at left, text in English, French and Arabic,impressed and adhesive revenue stamps, coupons re-attached, good very fine.

£150-200

Lot 63

65Ottoman Railway Company from Smyrna toAidin, £20 share, London 186[2], no.08926, ornatescrollwork at left, text in English, French and Arabic,impressed and adhesive revenue stamps, coupons re-attached, old repaired tear at left edge and small hole byseal, very fine.

£140-180

66Ottoman Company Ltd., a group of 15 certificatesfor one share of £20, London 1865, lovely vignette ofcamel and rider with goods standing by palm tree,black, printed by Bradbury, Wilkinson & Co.,generally extremely fine. (15)

£150-200



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67Ottoman Hamidie Paper Fractory, £T10 shares,Constantinople 1890, no.23, ornate border, Arabicheading with text in French and English, green ongreen paper, almost extremely fine and rare.

£80-100

PALESTINE

68Agrobank (Agricultural & Building Bank forPalestine) Ltd., P£2 debenture, [1941], no.8261,large format piece with ornate border, text in Hebrewand English, brown and green, very fine.

£60-80

69Agrobank (Agricultural & Building Bank forPalestine) Ltd., debenture, [1938], no.16877, greenand brown, text in English and Hebrew; together withother Palestine pieces comprising Marine Trust Ltd.,P£1 ordinary shares, 193[7], no.6157, blue and green;Mizrahi Bank Ltd., ordinary share of E£1, 19[24],ornate border, blue, red seal, text in Hebrew andEnglish, with talon, and Bank Zerubabel, debenturefor P£5, green, all well circulated, the Mizrahi withsmall piece missing but generally fair to fine. (4)

£80-100

70Artisans Bank, Co-operative Society Ltd., P£1shares, Tel-Aviv 193[8], no.313, ornayte border,black, blue and green, text in English and Hebrew,with coupons, folds with minor splits at top edge, veryfine.

£60-80

71Artisans Bank, Co-operative Society Ltd., P£1shares, Tel-Aviv 193[8], no.314, ornate border, black,blue and green, text in English and Hebrew, withcoupons, folds with small hole at intersection, withminor splits at top edge, about very fine.

£60-80

72Jerusalem Electric & Public Service CorporationLimited, a pair of specimen share warrants from theBradbury, Wilkinson & Co. archive, for ordinary andpreference shares of £P1, 19- (circa 1925), largeformat pieces with ornate borders, brown and black,and blue and black respectively, text in Arabic, Englishand Hebrew, perforated CANCELLED, withcounterfoils, extremely fine; together with Relief andConsolidation Housing Co. Ltd., P£10 debenture,1947, no.1515, ornate border, underprint of housingestate, green and blue, text in Hebrew with Englishconditions on the reverse, Palestine embossed dutystamp, very fine. (3)

£80-100

73Pan-Arab Corporation Ltd., a pair of certificates forordinary shares, no.41, black on buff paper and 8%preference shares, no.32, black, both dated 19[36],very fine. (2)

£60-80

74Workers’ Bank Ltd., ordinary shares of P£1, 19[35],no.34271, blue, red seal with Star of David, text inEnglish and Hebrew, with coupons; together withother Palestine pieces comprising Marine Trust Ltd.,P£1 ordinary shares, 193[7], no.6827, blue and green;Mizrahi Bank Ltd., ordinary share of E£1, 19[24],ornate border, blue, red seal, text in Hebrew andEnglish, with talon, and an Israel Government Loan,1955, 10 pounds, all well circulated but generally fine.(4)

£80-100



15

PERSIA

75Persian Bank Mining Rights Corporation Ltd., £5preferred ordinary shares, part paid, 18[90], no.0569,signed by Baron George de Reuter as director,Persian lion at left, crown above, ornate border,brown, printed by Bradbury, Wilkinson & Co., almostextremely fine and scarce.

£80-100

Formed by Baron George de Reuter (son of the founderof the Reuters News Agency), to work metal, coal &petroleum deposits. The drilling was not successful and by1899 the company was in liquidation. The word Bank inthe title refers to the concession given to Baron JuliusReuter for the establishment of the Imperial Bank ofPersia.

ASIA

CHINA

COLLECTIONS AND LOTS76An accumulation of Chinese Internal Loans,including Kwangtung, 1912, $10; 1917 MilitaryLoan, 100 yuan; 1941 Nationalist Air Force SalvationLoan, $5 and $10 (2), various lottery loans andRailway Ministry Loans, also two Japanese War Loans,mixed condition but well worth viewing. (40)

£120-150

x77A small group of Chinese bonds, comprising 189841⁄2% Gold Loan, £100, German issue; Tientsin PukowRailway, 1910, £100, English issue, green; 1925 5%Boxer Loan, $50; Shanghai Hangchow NingpoRailway, 1936, £100 bond, Sun Yat Sen top right, andBanque Industrielle de Chine, 500 franc share, 1919,capital 75 million, all very fine and better. (5)

£150-200

78A collection of Chinese bonds, comprising 1898,£25, £50 and £100, all German issue; 1903 GoldLoan, 500 francs, 1905 issue; Shanghai NankingRailway, 1903, £100, 2 examples both dated 1907;1908 Gold Loan, £20, French issue; 1908 TientsinPukow Railway, German, £20; Hukuang Railways,£20, German issue; 1914 Industrial Loan, 500 francs,and 1922 Railway Equipment Loan, £20, fine to veryfine, some better. (11)

£200-250

x79A small group of Chinese railway bonds,comprising Tientsin Pukow Railway, 1908, £100,English issue, orange and 1910, £100, English issue,green, 1911 Hukuang Railways, £100 bond, issued bythe Hongkong and Shanghai Banking Corporation,red, and Shanghai Hangchow Ningpo Railway, 1936,£100 bond, Sun Yat Sen top right, all very fine andbetter. (4)

£200-250

80A small collection of Chinese bonds comprising1898 Gold Loan, £50, German issue; ‘EmpruntChinois’, 1903, both 1905 and 1907 issues; 1908Gold Loan, £20, French issue; 1912 ‘Crisp’ £20 and£100; 1914 Industrial Loan, 500 francs; 1922 RailwayEquipment Loan, £20; Shanghai Hangchow NingpoRailway, 1936, £100; Shanghai Nanking net Profitsub-certificate, and, others (3), mixed condition butmostly fine to very fine, the first good very fine. (13)

£280-320

811913 5% Reorganisation Gold Loan, bonds for£100 and £20 (this lacking coupons), issued by theHongkong and Shanghai Banking Corporation, £20bonds, Russian issue, both green and brown examples(both lacking coupons), 1898 Gold Loan, £25 (thisheavily toned), £50 and £100, German issue, andTientsin Pukow Railway, 1910, £20, German issue, allremoved from frames with light toning, mount marks onreverse, generally fine to very fine unless stated. (8)

£300-400

82A small group of Chinese bonds, comprising 1913Lung Tsing U Hai, £20 bond; 1913 5%Reorganisation Gold Loan, £20, German issue and£20, Russian issue, green; 1911 Hukuang Railways,£20, German issue, and Lung Tsing U Hai Railway,1921, 500 francs and 1923, 500 francs, generally veryfine. (6)

£300-400



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83A collection of Chinese bonds (20), comprising1898, Gold Loan, German issue, £25 (2) and £100(4), English issue, £100; Shanghai Nanking Railway,£100, 1904; Canton Kowloon Railway, £100, 1907;Tientsin Pukow Railway, 1908, German issue, £20 (3)and £100; Hukuang Railway, 1911, £20, French issueand £100, English issue, and, 1912 Gold Loan, £20(4) and £100, also a Shanghai Nanking Railway net-profit sub-certificate and 5 fractional certificates,mixed condition, fine to very fine. (26)

£550-750

FOREIGN LOANS

84Chinese Imperial Government, 1896 5% GoldLoan, unissued bond for £25, countersigned byHongkong and Shanghai Banking Corporation, largeformat piece, blue with multicoloured underprint,with full coupons sheet, minor creasing in lower leftmargin with light foxing, extremely fine and extremelyrare.

£1,200-1,500

The second and last of this denomination discovered lastyear, the first selling at £1500 in our November sale. Thegroup of unissued bonds were all to be countersigned bythe Hongkong & Shanghai Banking Corporation andwere kept in the banking office for many years butdisposed of some years ago and retained by the originalvendor’s family who did not realise their importance.Only one example of the £50 and two of the £100 bondswere discovered (all sold last November at auction andprivately) and none of the £500 denomination.

x851896, 5% Gold Loan, bond for £100, no.41776,issued by the Deutsch-Asiatische Bank, large format,ornate border, green, red chop in centre, cancellationholes, with 4 coupons, very fine. (2)

£60-80

861898, 41⁄2% Gold Loan, £50 bond, No.001158,issued by Hong Kong & Shanghai Banking Corp., textin English and German, large format, orange, withcoupons, splits, small hole top left margin, fine to veryfine

£120-150



17

871898 41⁄2% Gold Loan, a group of 9 bonds for £100,issued by the Hongkong and Shanghai BankingCorporation, large format, ornate border, brown andblack, red ‘chop’ bottom centre, with coupons, mixedcondition but many are fine to very fine. (9)

£300-400

881898 41⁄2% Gold Loan, a group of 9 bonds for £100, issuedby the Hongkong and Shanghai Banking Corporation, largeformat, ornate border, brown and black, red ‘chop’ bottomcentre, with coupons, fine to very fine. (9)

£300-400

x891898, 41⁄2% Gold Loan, £500 bond, no.001925,issued by the Hongkong and Shanghai BankingCorporation, large format, ornate border, mauve andblack, red chop in centre, lacking coupons, usual smalledge tears with some amateur repairs but no paper loss,fine and scarce.

£300-400

901898, 41⁄2% Gold Loan, £500 bond, no.000466,issued by the Hongkong and Shanghai BankingCorporation, large format, ornate border, mauve andblack, red chop in centre, with coupons, couple of smalltears at top edge, fine and scarce.

£300-400

911898, 41⁄2% Gold Loan, £500 bond, no.002288,issued by the Hongkong and Shanghai BankingCorporation, large format, ornate border, mauve andblack, red chop in centre, with coupons, edge tears butno paper loss, fine and scarce.

£300-400

921898 41⁄2% Gold Loan, a group of 30 bonds for £50,issued by the Deutsch-Asiatische Bank, large format,ornate borders, orange and black, red ‘chop’ in centre,with coupons, mixed condition but most fine to veryfine. (30)

£600-800

931898 41⁄2% Gold Loan, a group of 35 bonds for£100, issued by the Deutsch-Asiatische Bank, largeformat, ornate borders, brown and black, red ‘chop’ incentre, with coupons, mixed condition but most fine tovery fine. (35)

£800-1,000



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941899, Chinese Imperial Railway, Railways ofNorth China, 5% Gold Loan, £100 bond, no.01152,very large format piece with ornate border, brown withblue underprint, with coupons (K.90), very fine

£120-150

951902 4% Russian State Loan, Chinese BoxerIndemnity, a small group of 4 bonds for 5000roubles, all with ornate border, multicoloured withRussian eagle top left and Chinese dragons top right,with coupons, fine to very fine and scarce topdenomination piece. (4)

£60-80

96‘Emprunt Chinois’ 5% Gold Loan 1903, a group of40 bonds dated 1905, ornate borders, red and black,with coupons, mixed condition but mostly very fine.(40)

£300-400

97Shanghai Nanking Railway, 5% Gold Loan, a groupof 21 bonds of £100, first issue dated 1904, largeformat, ornate border, red and black, two ‘chops’ atbottom, with coupons, a few with tears at edges butmany are very fine. (21)

£500-600

98Shanghai-Nanking Railway, a group of 98 NetProfit sub-certificates, all series A, 1904, ornateborder, black, facsimile signature of William Keswick,very fine to about extremely fine. (98)

£400-500

99Chinese Imperial Government, Honan Railway 5%Gold Loan, bond for £100, first issue, 1905,no.1777, large format, ornate border, green and blackwith yellow underprint, coupons glued at right edge,red ‘chop’ at top right, good very fine

£60-80

x100Chinese Imperial Government, Honan Railway 5%Gold Loan, bond for £100, first issue, 1905,no.3091, large format, ornate border, green and blackwith yellow underprint, coupons glued at right edge,red ‘chop’ at top right, good very fine

£60-80

101Honan Railway 5% Gold Loan, 1905, a group of 3bonds for £100, all first issue, large format, ornateborder, green and yellow, with coupons, generally veryfine. (3)

£150-200

102Honan Railway 5% Gold Loan, 1905, a group of 14bonds for £100, large format with ornate border,green and black, with coupons, fine to very fine andbetter. (14)

£600-800



19

x103Canton-Kowloon Railway 5% Loan, 1907, £100bond, no.8970, large format, red and black, printed byWaterlow & Sons, with coupons, good very fine.

£60-80

1041907 Canton-Kowloon Railway, 5% Gold Loan,£100 bond, no.4815, issued by the British & ChineseCorporation Ltd., large format piece printed byWaterlow & Sons, red and black, with coupons, aboutextremely fine

£100-120

1051907 Canton-Kowloon Railway, 5% Gold Loan, agroup of 15 bonds for £100, issued by the British &Chinese Corporation Ltd., large format pieces printedby Waterlow & Sons, red and black, with coupons,generally about very fine, a couple better. (15)

£700-900

106Tientsin-Pukow Railway, a group of German issuebonds, 1908, £20 (2) and £100 (2) and 1910 Loan,£100 (2), large format, ornate borders, all withcoupons, one of the last is poor otherwise generally veryfine. (6)

£100-120

1071908 5% Tientsin-Pukow Railway Loan, a group of30 bonds for £20, issued by the Deutsch-AsiatischeBank, large format, mauve and blue, with coupons, afew with small edge tears but generally very fine andbetter. (30)

£600-800

1081908 Tientsin-Pukow Railway 5% Loan, a group of21 bonds for £100, issued by Chinese CentralRailways Ltd. large format pieces with ornate borders,orange and black, printed by Waterlow & Sons, withcoupons, generally fine to very fine. (21)

£600-800

x109Tientsin-Pukow Railway 5% Loan, 1908, bond for£100, £50 part paid, no.25972, English issue, largeformat, orange and black, printed by Waterlow &Sons, with new coupons, very fine.

£100-120

110Tientsin-Pukow Railway 5% Loan, 1908, a groupof 5 bonds for £100, each £50 paid, issued by ChineseCentral Railways, large format, orange and black, withreplacement coupons, mauve stamp showing £50repaid in 1926 at top left, mixed condition, someannotations and stains, fine to very fine. (5)

£400-500



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1111910 5% Tientsin-Pukow Railway Loan, a group of34 bonds for £20, issued by the Deutsch-AsiatischeBank, large format, ornate border, green, black and apink underprint, generally about very fine, many better.(34)

£400-500

112Tientsin-Pukow Railway 5% Supplementary Loan,1910, a bond for £100, no. 18815, issued by ChineseCentral Railways in 1911, ornate border, green andblack, printed by Waterlow & Sons, with coupons,almost extremely fine.

£80-100

113Tientsin-Pukow Railway 5% Supplementary Loan,1910, a group of 30 bonds for £100, issued byChinese Central Railways in 1911, ornate border,green and black, printed by Waterlow & Sons, withcoupons, generally fine to very fine. (30)

£800-1,000

114Imperial Chinese Government 5% HukuangRailways Sinking Fund Gold Loan of 1911,unissued bond for £100, countersigned by Hongkongand Shanghai Banking Corporation, large format,steam train at top, red and black, printed by Waterlow& Sons, with full coupons sheet, extremely fine andextremely rare.

£1,200-1,400

Only four examples known, the first sold at £1400 in ourNovember sale. Please see note under lot 84.

1151911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 21 bonds of £20, issued by theBanque de L’Indo-Chine, large format, steam train attop, green and black, printed by Waterlow & Sons,with coupons, generally fine to very fine. (21)

£400-500

1161911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 6 bonds of £20, issued by theDeutsch-Asiatische Bank, large format, steam train attop, green and black, printed by Waterlow & Sons,with coupons, fine to very fine. (6)

£150-180



21

1171911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 30 bonds of £20, issued by theDeutsch-Asiatische Bank, large format, steam train attop, green and black, printed by Waterlow & Sons,with coupons, mostly about very fine. (30)

£600-800

1181911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 32 bonds of £20, issued by theDeutsch-Asiatische Bank, large format, steam train attop, green and black, printed by Waterlow & Sons,with coupons, generally very fine. (32)

£700-900

1191911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 50 bonds of £20, issued by theDeutsch-Asiatische Bank, large format, steam train attop, green and black, printed by Waterlow & Sons,with coupons, mostly about very fine. (50)

£1,000-1,200

1201911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 25 bonds of £100, issued by theDeutsch-Asiatische Bank, large format, steam train attop, red and black, printed by Waterlow & Sons, withcoupons, fine to very fine. (25)

£1,000-1,200

1211911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 25 bonds of £100, issued by theDeutsch-Asiatische Bank, large format, steam train attop, red and black, printed by Waterlow & Sons, withcoupons, fine to very fine. (25)

£800-1,000

1221911, 5% Hukuang Railways Sinking Fund GoldLoan, a group of 17 bonds of £100, issued by theAmerican Banking group, large format, steam train attop, red and black, printed by Waterlow & Sons, withcoupons, mostly very fine or thereabouts. (17)

£800-1,000

1231912 5% Gold ‘Crisp’ Loan, a group of 50 bonds for£20, large format with ornate borders, blue and black,with coupons, mixed condition, generally very fine.(50)

£1,500-1,800

1241912 5% Gold ‘Crisp’ Loan, a group of 29 bonds for£100, large format with ornate borders, turquoise andblack, with coupons, mixed condition, about very fine.(29)

£2,400-2,800

1251912 5% Gold ‘Crisp’ Loan, a part set of bonds for£20, £100 and £500, no.381, large format, red chopsat bottom, with coupons, the £500 with small split atcentre fold, fine to very fine. (3)

£500-600

1261912 5% Gold ‘Crisp’ Loan, bond for £1000,no.163, large format, red with orange underprint, redchops at bottom, with coupons, folds and creases butno tears, fine to very fine.

£1,800-2,200



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1271913 5% Reorganisation Gold Loan, a group of 3bonds for £20, issued by the Hongkong and ShanghaiBanking Corporation, ‘Mercury’ at top, peasants andbuildings at either side, brown and black, printed byWaterlow & Sons, with coupons, very fine or better. (3)

£150-180

1281913 5% Reorganisation Gold Loan, a group of 10bonds for £100, issued by the Hong Kong & ShanghaiBanking Corporation (9) and the Deutsch-AsiatischeBank (1), ‘Mercury’ at top, peasants and buildings ateither side, blue and black, printed by Waterlow &Sons, with coupons, mixed condition, most very fine.(10)

£2,400-2,800

1291913 5% Reorganisation Gold Loan, a group of 10bonds for £100, issued by the Hong Kong & ShanghaiBanking Corporation, ‘Mercury’ at top, peasants andbuildings at either side, blue and black, printed byWaterlow & Sons, with coupons, mixed condition,most very fine. (10)

£2,400-2,800

Lot 128


£2,400-2,800


£2,400-2,800


£2,400-2,800


Lots 127 to 136, 175 and 176 represent the last of the bondsbeing sold by the liquidators of Lehmann Brothers


23


£2,400-2,800

1341913 5% Reorganisation Gold Loan, a group of 70bonds for £20, issued by the Banque de L’Indochine,‘Mercury’ at top, peasants and buildings at either side,brown and black, printed by Waterlow & Sons, withcoupons, generally very fine and better. (70)

£3,000-3,500

1351913 5% Reorganisation Gold Loan, a group of 95bonds for £20, issued by the Banque de L’Indochine,‘Mercury’ at top, peasants and buildings at either side,brown and black, printed by Waterlow & Sons, withcoupons, mixed condition, many very fine and better.(95)

£4,000-5,000

1361913 5% Reorganisation Gold Loan, a group of 31bonds for £20, issued by the Deutsch Asiatishe Bank,‘Mercury’ at top, peasants and buildings at either side,brown and black, printed by Waterlow & Sons, withcoupons, mixed condition, most very fine and better.(31)

£1,200-1,500

1371913 5% Reorganisation Gold Loan, unissued bondfor £100, Hongkong and Shanghai BankingCorporation, ‘Mercury’ at top, peasants and buildingsat either side, blue and black, printed by Waterlow &Sons, with full coupon sheets, not numbered,extremely fine and extremely rare.

£1,200-1,500

Only 3 of these were found last year. Please see note underlot 84.

1381913, 5% Reorganisation Gold Loan, £20 bond,issued by the Hongkong and Shanghai BankingCorporation, Mercury at top, city view and peasants ateither side, brown, printed by Waterlow & Sons, withcoupons, together with other Chinese bondscomprising 1898 41⁄2% Gold Loan, £25, German issue;1912 ‘Crisp’ Gold Loan, £20 bond and 1922 RailwayEquipment Loan, £20 bond, generally very fine orbetter. (4)

£120-150



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1391913 5% Reorganisation Gold Loan, a pair of bondsfor £100, and £20, issued by the Hongkong andShanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and brownrespectively, printed by Waterlow & Sons Ltd., withcoupons, very fine to extremely fine. (2)

£250-300

1401913 5% Reorganisation Gold Loan, a group of 10bonds for £20, issued by the Hongkong and ShanghaiBanking Corporation, ‘Mercury’ at top, peasants andbuildings at either side, brown, printed by Waterlow &Sons Ltd., with coupons, a couple with nibbled bottomleft corner, very fine. (10)

£400-500

1411913 5% Reorganisation Gold Loan, a group ofbonds for £100, and £20 (9), issued by the Hongkongand Shanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and brownrespectively, printed by Waterlow & Sons Ltd., withcoupons, very fine and better. (10)

£600-700

1421913 5% Reorganisation Gold Loan, bond for£100, no.833960, issued by the Hongkong andShanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and black,printed by Waterlow & Sons Ltd., with coupons,almost extremely fine.

£200-250

1431913 5% Reorganisation Gold Loan, bond for£100, no.833962, issued by the Hongkong andShanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and black,printed by Waterlow & Sons Ltd., with coupons,almost extremely fine.

£200-250

Lot 142

x1441913 5% Reorganisation Gold Loan, bond for£100, no.848535, issued by the Hongkong &Shanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and black,printed by Waterlow & Sons, with coupons, very fine.

£240-280

x1451913 5% Reorganisation Gold Loan, bond for£100, no.821972, issued by the Hongkong &Shanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and black,printed by Waterlow & Sons, with coupons, very finebut coupon sheet reattached at top.

£240-280

1461913 5% Reorganisation Gold Loan, bond for£100, no.843343, issued by the Hongkong &Shanghai Banking Corporation, ‘Mercury’ at top,peasants and buildings at either side, blue and black,printed by Waterlow & Sons, with coupons, good veryfine.

£240-280



25

1471913 5% Reorganisation Gold Loan, a group of 6bonds for £100, issued by the Hongkong & ShanghaiBanking Corporation, ‘Mercury’ at top, peasants andbuildings at either side, blue and black, printed byWaterlow & Sons, with coupons, one is fine, theremainder good very fine or better. (5)

£1,200-1,500

1481913 5% Reorganisation Gold Loan, a bond for£20, issued by Banque de L’Indo-Chine, ‘Mercury’ attop, peasants and buildings at either side, brown andblack, printed by Waterlow & Sons, with coupons;together with Yosemite Short Line Railway Co., 40-Year First Mortgage 41⁄2% bond for $100, 1905, steamtrain at top, green and black, lacks coupons, bothremoved from frames, the first very fine, the second withtear at bottom left and quite brittle. (2)

£60-80

1491913, 5% Reorganisation Gold Loan, a group ofbonds for £20 (13), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, brown, printed by Waterlow & Sons,with coupons, mixed condition but many very fine andbetter. (13)

£600-700

1501913, 5% Reorganisation Gold Loan, a group ofbonds for £20 (17), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, brown, printed by Waterlow & Sons,with coupons, a nice condition lot, very fine to extremelyfine. (17)

£800-1,000

1511913, 5% Reorganisation Gold Loan, a group ofbonds for £20 (26), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, brown, printed by Waterlow & Sons,with coupons, mixed condition but many very fine andbetter. (26)

£1,000-1,200

1521913, 5% Reorganisation Gold Loan, a group ofbonds for £20 (80), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, brown, printed by Waterlow & Sons,with coupons, mixed condition but mostly very fine andbetter. (80)

£4,000-5,000

1531913, 5% Reorganisation Gold Loan, bond for£100, no.878627, countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, blue, printed by Waterlow & Sons, withcoupons, extremely fine.

£250-300

1541913, 5% Reorganisation Gold Loan, bond for£100, no.878625, countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, blue, printed by Waterlow & Sons, withcoupons, extremely fine.

£250-300

1551913, 5% Reorganisation Gold Loan, a group ofbonds for £100 (6), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, blue, printed by Waterlow & Sons, withcoupons, most with some faults, fine to very fine. (6)

£1,200-1,500



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1561913, 5% Reorganisation Gold Loan, a group ofbonds for £100 (6), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, blue, printed by Waterlow & Sons, withcoupons, generally very fine and better. (6)

£1,200-1,500

1571913, 5% Reorganisation Gold Loan, a group ofbonds for £100 (6), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasantsat either side, blue, printed by Waterlow & Sons, withcoupons, generally very fine and better. (6)

£1,200-1,500

158Lung Tsing U Hai Railway, a series of of bonds,1913, £20; 1920, 500 francs, 1921, 500 francs and1923, 500 francs, all with coupons, very fine andbetter. (4)

£200-250

159Lung Tsing U Hai Railway 5% Gold Loan, 1913,bond for £20, together with other Chinese ‘foreign’loans (11), comprising Emprunt Chois 1903 (1905),Hukuang, £20 bonds, German and French issues,1922 Railway Equipment Loan (poor), Lung Tsing UHai, 1921, 500 francs, 1923, 500 francs (2), andSkoda, 1925, £5 and £10 (3), mixed condition butmostly fine to very fine. (12)

£250-300

1601913 5% Lung-Tsing-U-Hai Railway Gold Loan, agroup of 6 bonds for £20, large format, text in Frenchand English, ornate border, blue with blue-greenunderprint, 5 with coupons one without, very fine andbetter. (6)

£1,200-1,500

1611913 51⁄2% Gold Loan of the Province of Petchili,bond for £20, Antwerp, no.15892, text in French andEnglish, very large format, red chop at bottom, ornateborder, vignette at top of Chinese shipping scene,brown and black, with coupons, has been removed fromframe, lightly toned, mount marks on reverse, very fine.

£250-300

162Province of Petchili, 51⁄2% Loan, 1913, bond for£20, no.7451, large format piece with small vignete ofboats in centre, text in French and English, brown andblack, lacking coupons, small split at bottom centre,very fine.

£80-100

1631914, 6% Shanghai-Fengching Railway MortgageRedemption Loan, unissued bond for £1,000, one of20 pieces found in a branch of the Hongkong andShanghai Banking Corporation, large format, greenand black, yellow underprint, red ‘chop’ at bottom,with all coupons, extremely fine and rare.

£1,200-1,500



27

1641914 5% Gold ‘Industrial’ Loan, unissued bond for500 francs from the reserve stock, large format,vignettes of railways, station and bridge, brown,yellow underprint, with all coupons from 1934, notnumbered, good extremely fine.

£100-150

1651918, 8% ‘Marconi’ Treasury Bill, £500 bond,no.1925 of only 500 issued, ornate border, red andblack, yellow underprint, on poor quality paper, newcoupons attached, minor splits at edges and folds, veryfine for issue and scarce thus

£150-200

1661918, 8% ‘Marconi’ Treasury Bill, £1000 bond,no.2181 of only 200 issued, ornate border, red andblack, yellow underprint, on poor quality paper, newcoupons attached, several splits at edges and folds, fineand scarce with no paper loss.

£600-800

1671919 8% 10 Year Sterling Treasury Notes ‘VickersLoan’, a group of 30 bonds for £100, vignette ofdockside at top, ornate border, green, with coupons,generally very fine. (30)

£600-800

1681919 8% 10 Year Sterling Treasury Notes ‘VickersLoan’, pair of bonds for £500 and £1000, vignette ofdockside at top, ornate borders, blue and brownrespectively, both with new coupons attached, goodvery fine and very fine. (2)

£1,200-1,500



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x1691919 8% Sterling Treasury Notes (Vickers Loan),bond for £1000, no.10288, small dockside vignette,brown and black, with coupons, creased top left, veryfine.

£500-600

1701919 8% Sterling Treasury Notes (Vickers Loan),bond for £1000, small dockside vignette, brown andblack, with coupons, good very fine.

£500-600

1711919 8% Sterling Treasury Notes (Vickers Loan),bond for £1000, small dockside vignette, brown andblack, with coupons, light ink stain in right margin,good very fine.

£500-600

1721919, 6% Two-Year Secured Gold ‘Chicago Bank’Loan, $1000 bond, no.1457, vignette of Pagoda attop, orange and black, printed by the American BankNote Co., with coupons, extremely fine

£600-800

1731925 5% Gold ‘Boxer’ Loan, a group of 58 bondsfor $50US, ornate border, brown, yellow underprint,text in English and French, with coupons, generallyvery fine to extremely fine. (58)

£600-700

1741925 5% Gold ‘Boxer’ Loan, a group of 100 bondsfor $50US, ornate border, brown, yellow underprint,text in English and French, with coupons, mixedcondition but many very fine to extremely fine. (100)

£800-1,000


£2,000-2,500


£2,500-3,000


Lot 169

Lot 172


29

1771934, 6% Sterling Indemnity Loan, bond for£1000, no. 6504, portrait of Sun Yat Sen at top, textin Chinese and English, red and blue, pink underprint,with coupons, about extremely fine

£600-800

1781936, 6% Shanghai-Hangchow-Ningpo RailwayCompletion Loan, pair of bonds for £50 and £100,large format pieces with Sun Yat Sen top right, ornateborders green, red and blue and brown, green andblue respectively, with coupons, extremely fine (2)

£120-150

1791936, 6% Shanghai-Hangchow-Ningpo RailwayCompletion Loan, a group of 10 bonds for £50, largeformat pieces with Sun Yat Sen top right, ornateborders, green, red and blue, with coupons, generallyvery fine and better. (10)

£600-700

1801936, 6% Shanghai-Hangchow-Ningpo RailwayCompletion Loan, a group of 10 bonds for £100,large format with Sun Yat Sen top right, ornateborders, brown, green and blue, with coupons, mostwith some creases, very fine. (10)

£500-600

1811937 Secured Sinking Fund Bond (PacificDevelopment Loan), for US$1000, no.M1983,pagoda at top, blue and black, with coupons, ABNCo.printing, with certificate attached to denote Americandomicile, extremely fine.

£600-800

x1821937 Secured Sinking Fund Bond (PacificDevelopment Loan), bond for US$1000, no.M4097,pagoda at top, blue and black, with coupons, ABNCo.printing (K.952), with Treasury Form TFEL-2attached, about extremely fine.

£400-500



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1831937 Secured Sinking Fund Bond (PacificDevelopment Loan), bond for US$1000, no.M2471,pagoda at top, blue and black, with coupons, ABNCo.printing (K.952), extremely fine.

£400-500

INTERNAL LOANS

x1841912 Provisional Government, 8% Public Loan forMilitary Requirements, set of bonds for $5,no.50200, $10, no.16265 and $100, no.18085,ornate borders, the first and last of same design, the$10 somewhat different, all with large red ‘chops’ incentre, text in Chinese with English translation onreverse, with all coupons, extremely fine. (3)

£150-200

x1851917/1918, 8% Military Loan, pair of bonds for100 yuan and 1000 yuan, brown & light green andblue & bright green respectively, text all in Chinese,with all coupons, about extremely fine. (2)

£60-80



PROVINCIAL LOANS

31

x1861937 4% Liberty Loan, bond for 1000 dollars,no.22718, green and black, yellow underprint, redchop and adhesive revenue, together with other bondsfor $10 and $100, all with coupons, the first extremelyfine, others very fine or better. (3)

£100-150

x1871941 Nationalist Government Air Force SalvationLoan, a pair of bonds for US$5 and US$10, centralvignette of Boeing B26 monoplane fighter, ornateborders, brown and blue respectively, together with27th Year Gold Loan, 1938, bond for $50, mauve,about extremely fine. (3)

£80-100


188Province of Shansi, 1927 6%Rehabilitation Loan, pair of bonds for 5yuan and 10 yuan, ornate borders, grey-green with pink underprint and mauvewith yellow underprint, red ‘chops’ incentre, with coupons, both good very fine.(2)

£100-120


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MUNICIPAL LOANS

189City Government of Greater Shanghai, Loan of 1934, bond for$100 Chinese Silver, no.A0724, ornate border and titles, green andblack, with coupons, extremely fine and scarce

£600-800

190City Government of Greater Shanghai, Loan of 1934, bond for$1000 Chinese Silver, no.A0817, ornate border and titles, orangeand black, with coupons, extremely fine and scarce

£600-800

191City Government of Greater Shanghai, Loan of 1934, bond for$5000 Chinese Silver, no.C0042, ornate border and titles, blue andblack, with coupons, extremely fine and very rare top denomination

£3,000-4,000


Lot 189

Lot 190

Lot 191


33

COMPANIES

192Bank of China and Japan Ltd., £8 ordinary shares,189[5], signed by Frederick D Sassoon as director,black, several endorsements on face, very fine andscarce.

£150-200

193Banque Industrielle de Chine, a group of 9certificates for 500 franc share, 3rd issue, capital 150million francs, 1920, panoramic view of city withChinese dogs at either side, dragons at top, yellow andblack, with all coupons, generally extremely fine. (9)

£80-100

194Commercial Bank Corporation of India & theEast, a group of 7 certificates for £25 share, 1864,black printing on pink paper, extremely fine. (7)

£400-500

Incorporated by Royal Charter in 1864. Openedbranches in China, Japan, Malaya and India. Failed inthe wake of the Overend, Gurney crash of 1866. Preparedbanknotes for issue (see Spink, lot 1701, January 2007).

195Comptoir Charles Ley S.A., pair of bearer certificatesfor $1000 Chinese, Brussels 1923, no.162; and withincreased capital no.258, of only 200 of each issued,ornate border, blue with yellow underprint, withcoupons, extremely fine. (2)

£150-200

The company was formed in 1923 with administrativeoffices in Brussels. They supplied engineering equipmentto the Chinese National Railways and to theshipbuilding industry.

196Hongkong Engineering & Construction Co. Ltd.,a group of 20 certificates of $2 shares, fully paid, all19[38], ornate border, black, ‘1938 ISSUE’ in topmargin, stamped cancelled in red, generally extremelyfine. (20)

£200-300



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197Manchuria Chemical Industry Co. Ltd., certificatefor 10 shares of 50 yen, 1933, vignette of factory atbottom, company logo at top, green and black, a fewsurface marks but about very fine.

£150-180

198Oriental Bank Corporation, a pair of certificates,both for one £25 share, 18[57], no.4327 and 18[66],no.54965, scrollwork to left and Royal Coat of Armsat top, embossed seal, black, both extremely fine. (2)

£60-80

199Pekin Syndicate Limited, bearer share certificate for5 Shansi shares of £1, 19[10], ordinary share capitalshown as 39,900 shares, vignettes of harbour sceneflanked by steam train and mine, ornate border, green,yellow and black, with coupons, several endorsementson face, very fine;, together with Banque Industriellede Chine, 500 franc share, 1919, capital 75 millionfrancs, and Compagnie Generale de Chemins de Fer etde Tramways en Chine, 250 franc share, 1920,cancelled, very fine. (3)

£80-100

201Shanghai Land Investment Co. Ltd., a group of 10certificates for 5 tael shares (overprinted 5 HK dollars),all 19[31], full height vignette of Chinese workmanpainting a house at the top of a ladder, brown, inkcancelled, very fine to extremely fine. (10)

£200-300

202Shanghai Power Company, first mortgage 51⁄2%debenture, type-written denominations, a groupcomprising C$100, C$400, C$500 and C$1,000,vignette of Shanghai harbour but with red overprintacross the entire view, red and black, printed by theAmerican Bank Note Co., a couple with minor rustmarks, very fine. (4)

£150-200

203South Manchuria Railway Co., 10 shares of 50 yen,no.56439, steam train at top, brown and black, smallstain in top right margin, very fine.

£80-100


Lot 197

200Shanghai Cricket Club, 6% debenture, [$1000],1934, no.002, vignette of the grandstand at top,ornate border, green, red and black, embossed sealdepicts date of formation of the club (1862) withcrossed bats and stumps, very fine and very rare.

£2,000-2,500

We understand that only two of these were found some35 years ago by Stanley Gibbons. Both sold privately.

Please see illustration on next page.


35

FRENCH INDO-CHINA

204Gouvernement Général de L’Indo-Chine, 3% bond for 500 francs, 3rd issue,1905, attractive French style piece with vignettes of dragons, peasants, steamtrain, ancient city and river boats, blue and black with blue underprint, withcoupons, good very fine.

£60-80


Lot 200


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INDIA

205Madras Presidency Kallikote Raj Sterling Loan1906, 6% Mortgage debenture for £100, dated 1907,no.136, of only 775 issued, very large format, ornateborder, brown, pale orange underprint, signed byArbuthnot Latham & Co. as issuing agents, withcoupons, near extremely fine and scarce.

£60-80

206Bombay, Baroda & Central India Railway Co.,consolidated stock certificate for [£340], 18[64],no.4442, scrollwork at left, green, pink underprint,good very fine and rare.

£60-80

207Bombay, Baroda & Central India Railway Co.,consolidated stock certificate for £500, 18[64],no.1940, scrollwork at left, mauve, grey underprint,good very fine and rare.

£60-80

208Bombay, Baroda & Central India Railway Co.,consolidated stock certificate for £1000, 18[64],no.3783, scrollwork at left, red, green underprint,good very fine and rare.

£60-80

209Bombay, Baroda & Central India Railway Co.,consolidated stock certificate for £1000, 18[64],no.3784, scrollwork at left, red, green underprint,good very fine and rare.

£60-80

210East Indian Railway Company, three certificates forConsolidated Stock, 186[9], 18[70] and 18[71], allwith black printing, the first differing slightly from theothers, the second with corner missing and small inkstain on the last, very fine. (3)

£80-100

211A nice group of Indian Railway certificates,comprising Oude Railway Co. Ltd., scrip certificate for5 shares, London 1857, no.5003, East Indian RailwayCompany, £20 share, ‘C’ Extension, 1856,no.237264, and Madras Railway Company, £20 share,1852, no.17902 and Extension Capital, £20 share,1853, no.29928, all printed in black, extremely fine,the first with neat cancellation hole. (4)

£160-180

212Moyar Coffee Co. Ltd., a group of 3 certificates for£2 10s shares, 18[82], [83] and [84], numbers 200,317 and 325, the last two signed by Major GeneralAlfred Light as director, scrollwork at left, black, thefirst with rust mark, the others with light discolouration,fine to very fine. (3)

£60-80



37

213New Dhurrumsey Poonjabhoy Spinning &Weaving Company Ltd., 2000 rupee share, Bombay187(4), no.1139, vignettes of mill/factory in centreand Indian gentleman in scrollwork at left, blackprinting on vellum, adhesive revenue stamp, a littlecreased but about very fine and rare

£80-100

JAPAN

214Imperial Japanese Government, 5% Loan, 1908,bond for 1000 yen, no.17950, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, fine but scarce.

£60-80

215Imperial Japanese Government, 5% Loan, 1908,bond for 1000 yen, Mark ‘Ko-Ih’, no.6466, vignetteof Takeuchi Sukune at right, very ornate border, textin Japanese on front with English translation onreverse, blue, black and yellow, with coupons, fine butscarce.

£60-80

216Imperial Japanese Government, 5% Loan, 1909,bond for 100 yen, Mark ‘Ko-Ro’, no.346461, vignetteof Takeuchi Sukune at right, very ornate border, textin Japanese on front with English translation onreverse, blue, black and yellow, with coupons, very fineand scarce.

£80-100

217Imperial Japanese Government, 4% Loan, 1910,bond for 100 yen, no.378640, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, very fine and scarce.

£80-100

218Imperial Japanese Government, 5% Loan, 1909,bond for 500 yen, no.28285, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, red, blackand yellow, with coupons, fine to very fine and scarce.

£80-100



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219Imperial Japanese Government, 5% Loan, 1909,bond for 1000 yen, no.17998, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, green andblack, with coupons, fine but scarce.

£60-80

220Imperial Japanese Government, 5% Loan, 1919,bond for 100 yen, no.299468, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, very fine and scarce.

£60-80

221Imperial Japanese Government, 5% Loan, 1925,bond for 100 yen, no.192848, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, about very fine andscarce.

£60-80

222Imperial Japanese Government, 5% Loan, 1928,bond for 100 yen, no.022267, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, tear in coupon sheet,only fine but scarce.

£60-80

223Imperial Japanese Government, 5% Loan, 1929,pair of bonds for 25 yen and 50 yen, vignette ofTakeuchi Sukune at right, very ornate borders, text inJapanese on front with English translation on reverse,mauve and green respectively, no coupons remain, veryfine and scarce. (2)

£100-150

224Imperial Japanese Government, 5% Loan, 1929, apair of bonds for 50 yen, no.052876 and 100 yen,no.039881, vignette of Takeuchi Sukune at right, veryornate border, text in Japanese on front but unusuallywithout English translation on reverse, just thedenomination within scrollwork, green and black andblue, black and yellow, both with all coupons, goodvery fine and scarce. (2)

£120-150

The bonds usually seen of the 1929 issue appear withoutany coupons remaining (see lot 223) and the numbersare generally quite low. The obverse printing appears tobe exactly the same except for the Mark (release) is withina small red box on those without the English back. Aninteresting puzzle that requires further research.



39

225Imperial Japanese Government, 51⁄2% ExternalLoan, 1930, a specimen bond for $1000, ornateborder, vignette of Mount Fuji, black and black,printed by the American Bank Note Co., withcoupons, overprinted SPECIMEN in red, tri-folded asusual with some paper loss at left edge along fold, fineand rare.

£150-200

226Imperial Japanese Government, 5% Loan, 1932,bond for 100 yen, no.008982, vignette of TakeuchiSukune at right, very ornate border, text in Japaneseon front with English translation on reverse, blue,black and yellow, with coupons, good very fine andscarce.

£60-80

227Imperial Japanese Government, 4% Loan, 1934, aseries of bonds for 25, 50 and 100 yen, all Mark(release) ‘he’, vignette of Takeuchi Sukune at right,very ornate border, text in Japanese on front withEnglish translation on reverse, mauve, green and bluerespectively, very fine and scarce.

£150-200

228Imperial Japanese Government, 31⁄2% Loan, a groupof 3 bonds for 25 yen, 1936, Mark ‘Ih’, 1937, Mark‘Ro’ and 1939, Mark ‘Ni’, vignette of TakeuchiSukune at right, very ornate borders, text in Japaneseon front with English translation on reverse, mauveand black, with coupons, fine to very fine. (3)

£120-150

229Japanese War Loans, a group of bonds, savings bondsand other certificates (38), 1937 through to 1944,mixed condition but well worth inspection. (38)

£80-100


Lot 225


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230City of Nagasaki, Harbour Loan, 1897, anexceptional set of specimen bonds for 50 yen, 100 yen,500 yen and 1000 yen, large format with attractivevignettes of shipping in harbour, a 1:60,000 plan ofthe harbour works on the reverse, ornate border, textall in Japanese, blue, orange, green and pinkrespectively, about extremely fine and extremely rare.(4)

£1,200-1,500


Lot 230


41

231Ville de Tokyo (City of Tokyo), 5% Loan of 1912,bond for 500 francs, no.84985, large format piecewith vignette of tree lined river with small sailingvessel, electric tram in left border, power station inright border, green and black, printed by Waterlow &Sons, with coupons, very fine.

£80-100

232City of Yokohama, 5% Sterling Loan 1907, bond for£100, vignette of railway track at dockside, ornateborder, green and black with yellow underprint, withcoupons, tiny stain in margin, about very fine and veryrare.

£600-800

One of only two pieces found some 25 years ago.

233Nippon Steel Company Ltd., 10 shares of 50 yen,Showa 16 (1941), vignette of steel works atKitakyushu, blue and black, adhesive revalidationstamp at right, very fine.

£60-80

KOREA

234Korea Railway Company, bond for 1000 yen,vignette of steam train at top, brown and black, withcoupons, extremely fine and scarce

£120-150



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PHILIPPINES235Real Compañia de Filipinas, No. 24827, 1785, 250Pesos, extremely attractive piece featuring amonument in the centre, lion and Cornucopia at topwith coat of arms, elephant to left, allegorical figures atbottom, sail boat to right, centre fold, about extremelyfine

£600-700

The company was established by royal decree in 1785 topromote trade between the Philippines and Spain, and toexploit the island’s natural resources. The King andmany major banks were shareholders in the company andit later absorbed the Barcelona Company. Frictionbetween England and Spain later resulted in poortrading and it was abolished in 1834

236Manila Railway Company (1906) Ltd., a set of 4%‘A’ debentures for £20, £50, £100 and £200, 1907,together with a part set of 4% ‘B’ debentures for £50,£100 and £200 (missing the £20), 1907, all largeformat pices with steam train at top, ornate borders,printed by Bradbury, Wilkinson & Co., variouscolours, with coupons, all perforated cancelled, veryfine and better. (7)

£150-200

SARAWAK

237Sarawak: Kim Loong Gold Mining Syndicate,Jambusan, Bau, Upper Sarawak, 50 dollar share,19[34], no.451, small format piece with mauveborder, green underprint, black and red text in Englishand Chinese, adhesive Rajah Brooke revenue stamp,printed in Kuching, top right tip of corner missing,about extremely fine and rare.

£120-150


Lot 235


43

THAILAND/SIAM

238Royal Siamese Government, 7% Sterling Loan,1922, bond for £100, no.1020, large format piecewith Siamese arms at top with steam train to the rightand canal scene left, green and black, printed byWaterlow & Sons, with coupons, hole cancelled, someworm holes mainly in the right border, centre fold,otherwise about extremely fine.

£150-200

239Royal Siamese Government, 6% Sterling Loan,1924, bond for £50, no.A1911, very large formatwith coat of arms at top flanked by vignettes of steamtrain at left and workers in field at right, brown andblack, printed by Waterlow & Sons, red stripes andCANCELLED across face, top edge a little brittle withsome splits, signs of mounting on reverse, scarce.

£80-100

240Royal Siamese Government, 4% SterlingConversion Loan, 1936, bond for £100,no.B10367, large format with coat of arms in centre,steam train at left, workers in field at right, mauve andblack, printed by Waterlow & Sons, with coupons,hole cancelled, very fine to extremely fine.

£120-150


Lot 238 Lot 239

Lot 240


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241A collection of Australian commercial andindustrial companies, comprising Air Systems Ltd.,1937; Argus & Australasian Ltd., 1936; AssociatedFinancial Corporation, 2 types, 1901 and 1903;Australasian Alkaline Reduction & Smelting SyndicateLtd., 1890; Australasian Mortgage & Agency Co.Ltd., 1904; Australasian Incandescent Gas Light Co.Ltd., 1895; Australasian Pacific Mail Steam PacketCo., 1852; Consolidated Investment Corporation ofAustralasia Ltd., 1904, torn; Currumbin PlantationsLtd., 1920; Donald Inland Freezing Co. Ltd., 1921;Gill McDowell Jarrah Co. Ltd., 1899; Holt-Sutherland estate Co. Ltd., 1900, and, Yarram &District Co-operative Society Ltd., 1916, mixedcondition but mostly fine and very fine. (14)

£120-150

242A mixed lot of Australian Gold, Copper, Coal andTin mining certificates, comprising Anchor Tin MineLtd., 2 types, 1902 and 1909; Bourkes Hill TinSluicing Co. NL, 1906; Briseis Tin Mines Ltd., 1902;Cosmopolitan Proprietary Ltd., 1902 and 1904;Geraldine Copper & Lead Mines Ltd., 1928; GreatCobar Ltd., specimen certificate, 19-; Hannan’sNapier Gold Co. Ltd., 1895; Lyell ComstockConsolidated Copper Co. Ltd., 1906; Southern CoalCompany of New South Wales Ltd., 1888, and,Sydney Harbour Collieries Ltd., 1907, generally fine tovery fine. (12)

£140-180

243A group of Broken Hill silver mining certificates(12), with some duplication, comprising; Rising SunSilver Mining Co., £1 shares, 18[88] (5); Rising SunExtended Silver Mining Co., £1 shares, 18[88] (4);Broken Hill South Extended S. M. Co., £1 shares,188[8] and Bonanza Consols Silver Mining Co., twopieces, 5 shilling shares, 18[91], some with small tearsand/or discolouration, generally fine, some better. (12)

£150-200

244A collection of Australian Gold mining certificates,comprising Aarons Reefs Ltd., 1890; CelebrationGold Mines Ltd., 1925; Conglomerate Goldfields ofWestern Australia Ltd., 1901; CosmopolitanProprietary Ltd., 1904; Cumberland Gold Mining Co.Ltd., 1887; Eureka Gold Mines Ltd., 1899; GreatLucknow Consols Ltd., two types, 1901 and 1905;Great Victoria Gold Mining Co. Ltd., 1896; Hannan’sNapier Gold Co. Ltd., 1895; Loddon ValleyGoldfields Ltd., 1907 and North AustralianExploration Ltd., 1912, mixed condition, fine to veryfine. (12)

£180-220

245Tasmanian Government Loan, 6% debenture for£100, 1867, no.713, coat of arms at top, ornateborder, blue, stamped PAID, good very fine.

£80-100

246Australian Cordillera Gold & Copper Mining Co.,a trio of certificates for 5, 10 and 20 shares of £1, all185[2], decorative title, black, printed on linen, redserial numbers, minor toning on the first otherwise goodvery fine. (3)

£250-300

247British Bank of Australia Ltd., £5 shares, 18[89],no.389, scrollwork at left, black, very fine.

£250-300

Formed as the Victorian Freehold Bank Ltd., in 1888with Head Office in Melbourne. Stopped payment in1891 following the failure of the Bank of Van DiemensLand in Launceston where the British Bank also had abranch. Panic brought a drain of deposits at the BritishBank in Launceston which had to be supplied with cashfrom the Head Office in Melbourne until the situationbecame unsustainable.

248Conglomerate Goldfields of Western AustraliaLtd., a group of 6 certificates for £1 shares, 190[2] to190[4], all issued to the same shareholder, signed bymerchant banker S.P.Ralli as director, ornateborder, green, minor tone spots, very fine. (6)

£80-100


AUSTRALASIA

AUSTRALIA


45

249Great Northern Copper Mining Co. of SouthAustralia Ltd., two certificates for 5 shares of £2each, 1859, numbers 10271-10275 and 10276 -10280 together with associated transfer certificate forthe whole 10 shares, 1861, coat of arms in centre,green, attractive embossed seal, couple of edge nicksotherwise very fine and scarce early pieces. (3)

£120-150

250Land Company of Australasia Ltd., a group of £1005% debentures (29), 1889, handsigned by JohnCharles Thynne as director, large format pieces withornate border, black with green underprint, printed byWaterlow Bros & Layton, with coupons, a couple withuneven edges where coupons removed otherwise mostlyextremely fine. (29)

£150-200

John Charles Thynne (1838-1918), grandson of the 2ndMarquess of Bath.

251Melbourne & Suburban Railway Co., £10 share,18[60], no.11742, an attractive piece with vignette ofsurveyor and a navvy revealing a steam train crossingriver bridge, map of route below, black on thick paper,embossed seal bottom right, about extremely fine.

£120-150

252New South Wales Mines: A group of certificatescomprising Pambula Mines Ltd., 1897; D’ArcyWentworth Gold Mines Ltd., 1901; Broken HillProprietary Block 14 Co. Ltd., 1906, filing holes;,Broken Hill Proprietary Block 10 Co. Ltd., 1907, 2examples; Great Lucknow Consols Ltd., 3 different,1901, 1905 and 1907; North Mount Boppy Ltd.,1907, 2 examples and 1909 with capital overprinted inred; Nymagee Copper Ltd., 1909; North Cobar Ltd.,1913; Block 14 Torrington, NL, 1911 and differentformat 1915, 2 examples, one with filing holes;Gibraltar Consolidated Gold Mines Ltd., 1917;Tingha (N.S.W.) Hydraulic Tin Mines Ltd., 1927;Wellington Alluvials Ltd., 1950; Smelting andRefining Company of Australia (1901) Ltd., 1904,and, Australian Smelting Corporation Ltd., 1906,generally fine to very fine. (21)

£180-220

253Panama, New Zealand & Australian Royal MailCo. Ltd., £5 shares, fully paid, 186[5], no.2233,issued to Charlotte Fanny Countess Poulett,widow of the first Chairman, John, 5th EarlPoulett, scrollwork at left, blue on watermarkedpaper, very fine.

£100-120

Formed by the Royal Mail Steam Packet Co. to provide anew service to New Zealand and Australia via Panamain 1865 and built four ships, S.S.Kaikoura, Rakaia,Ruahine, Mataura and purchased the Prince Albert asa reserve. The company had failed by 1868 and the shipswere acquired by the Royal Mail Steam Packet Companyto whom they had been mortgaged.

254Stannary Tin Mining Co. Ltd., £1 shares, 10/- paid,18(88), no.88, black, pink underprint; together withNew Victory Tin Mining Co. Ltd., £1 shares,12/6d paid, 188-, fully issued but date missed inerror, black, pink underprint, the second has split incentre otherwise very fine or better. (2)

£60-80



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255United Ajax Gold Mining Co., 10 shilling shares,188[1], no.852, small format, red and black, extremelyfine and scarce.

£60-80

Operated at Cambell’s Creek, Victoria, which wasfounded during the 1850’s gold rush. Located only 25miles from the famous mining town of Bendigo.

NEW ZEALAND

256New Zealand, City of Wellington, 6% Loan, 1877,a specimen £100 debenture from the Bradbury,Wilkinson & Co. archive, ornate border, orange andblack, £100 in underprint, with coupons, small holecancels over signature area, very fine to extremely fineand very rare.

£120-150

257New Zealand Consolidated Gold Mines Ltd.,bearer warrant for 5 shares of £1, London 19[04],no.560, very attractive piece with vignettes of Maoriwarriors, green and black, printed by Eden Fisher &Co., with coupons, good very fine

£100-120

CANADA

258Isaac’s Harbour Gold Co. of Nova Scotia, $5shares, New York 186[4], scrollwork at left, black, redpaper seal, creased but about very fine and rare.

£140-180

Gold was first discoved here in 1861 on the Eastern coastof Nova Scotia. Further explored in the 1890’s and todayextensive work is being undertaken by Orex Exploration.



47

259St.Lawrence and Adirondack Railway Company, aspecimen first mortgage 5% gold bond of $100, 1892,printed by the Franklin Bank Note Company,speeding steam train passing waving children, ornateborder, green and black, with coupons, slight chippingto bottom corners, good very fine.

£100-120

260Welland Railway Company of Canada, a pair ofproof certificates for 5% first debenture stock andsecond debenture stock, undated but circa 1880, blackprinting by Perkins, Bacon & Co., scrollwork at left,black, very fine but with mount marks on the reverse.Rare, no other paper from this company has yet to befound. (2)

£60-80

261White Pass and Yukon Railway Co. Ltd., 6%registered debenture for £7, 1915, ornate border, blueand black, 4 pages, together with Income Debenturestock certificate for [£3 14s], no.3851, scrollwork atleft, blue, extremely fine and very fine. (2)

£80-100

EUROPE

AUSTRIA

262Austrian Government 7% Guaranteed Loan, 1923,a specimen bond for $500 from the American BankNote Co. archives, allegorical figures at top, ornateborder, text in English and German, olive green andblack, numbered 00000 and overprinted SPECIMENin red, with coupons, tri folded as usual otherwise aboutextremely fine.

£100-120

263Grossvero, 500 kronen share, Vienna 1922, no.4847,interesting Gothic design with allegorical female atleft, red and black with yellow underprint, withcoupons, extremely fine.

£60-80



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BELGIUM264Belgian Eastern Junction Railway Co., certificatefor 10 shares of 125 francs or £5, 1852, with originalcoupons for the 1st to 9th half yearly dividends, armsin centre, black on pinkish grey paper, good very fineand rare; together with 2 examples of the 5 sharesdenomination, with usual replacement coupons withdividend coupons from 1876, fine to very fine. (3)

£60-80

265Messageries Van Gend & Cie S.A., 500 franc share,1922, no.5667, lovely vignette of horse drawn coachat top, wagon at left and motor lorry at right, darkbrown with pale green underprint, with coupons, veryfine to extremely fine.

£100-120

BULGARIA266Banque par Actions “Bogatstvo” a Lom, certificatesfor 1 share of 100 leva, no.1710 and 10 shares of 100leva, no.26, 711-26, 720, both Lom 1918, togetherwith certificate for 10 shares of 100 leva, Lom 1929,no.85161-85170, all large format pieces with ornateborders, text in Bulgarian and French, orange-brownand green, mauve and blue & mauve and bluerespectively, with coupons, all about extremely fine. (3)

£60-80

267“Mourgach” Societe par Actions pour leCommerce et l’Industrie, certificates for 1 share of1000 leva, no.1833 and 5 shares of 1000 leva, no.266,both dated Sofia 1922, attractive pieces with vignetteof factory at bottom, allegorical figures at either side,green and yellow respectively, with coupons, the firstwith pinholes at top, good very fine or better and bothscarce. (2)

£60-80

268“Serdica” Societe par Actions pour le Commerce etl’Industrie, 100 leva share, Sofia 1917, no.26051,large format piece with vignettes of worker wielding ahammer, attractive borders, blue, brown and yellow,adhesive duty stamp, with coupons, good very fine.

£60-80



49

269Société Anonyme par Actions pour la Construction duPort de Varna, 1000 leva or gold francs share, Sofia 1899,no.1094, very attractive certificate with seven vignettes ofdock and harbour scenes, dark green and red with yellowunderprint, adhesive revenue stamps, good very fine

£60-80

270Societe Balkanique Commerciale et Industrielle,100 leva share, Sofia 1911, attractive piece withvignette at top of steam traction engine and thresher,vignette at bottom shows various iron working, toolsand steam engine at sides, black with pink underprintof Bulgarian arms, with coupons, extremely fine.

£60-80

271I.K.KALPAZANOV Trade and IndustryCompany, certificate for 100 leva share, 1920,no.000007, of only 1080 issued, and certificate for 4shares of 1000 leva, 1922, no.1277-1280, attractiveart Nouveau style certificates with full height womanholding cotton thread, large spinning machine lowerright and Bulgarian arms top centre, gree, red andblack, with coupons, good very fine and scarce. (2)

£80-100


Lot 270


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CROATIA272Central Vine Growers Co-operative, 100 krunashare, Zagreb [1911], no.0164, attractive piece withvignette of peasant and baskets of grapes, vine growingoverhead, green, with coupons, good very fine.

£60-80

273Maritime Association of Ragusa, certificate for 200florin share, Ragusa [1870], no.1897, beautiful piecewith ornate border including allegorical figures atsides, Pope surrounded by scrollwork at bottom, andshipping scenes, black with buff underprint, stampcancelled, slight ink bleed through at right side,otherwise good very fine.

£100-120

274Vinkovci Discount Bank, 200 kruna share, 1905,no.1113, large format piece with allegorical female atleft with coat of arms, green, with coupons, extremelyfine.

£60-80

CYPRUS275Cyprus Airways Limited, 50c shares, 19[85],no.4020, ornate border, blue with yellow underprint,logo in underprint, very fine.

£60-80

Formed in 1947. Name changed to Cyprus AirwaysPublic Limited the Government currently owning93.67% of the shares.

CZECHOSLOVAKIA

276City of Greater Prague, 1922 71⁄2% Mortgage Loan,a specimen bond for £100, from the Bradbury,Wilkinson & Co. archive, large format piece with cityarms at top, green and black, with coupons, printersannotation in top margin, extremely fine.

£60-80

277Skoda Works, a group of 5 First Mortgagedebentures for £100, [1930], ornate borders, brownand black, printed by Waterlow & Sons, 4 pages, veryfine and better. (5)

£100-150



51

DANZIG

278Danzig Port and Waterways Board, a specimen 25-Year 61⁄2% Gold Bond for $500, 1927, from theAmerican Bank Note Co. archive, allegorical figures attop, ornate border, green and black, numbered 00000and overprinted SPECIMEN in red, tri-folded, goodvery fine and rare.

£250-300

ESTONIA279Republic of Estonia (Banking and CurrencyReform), 7% Loan, 1927, a pair of bonds for £100,no.A2446 and X1300, large format pieces with cityview at top, ornate border, both blue and black, withcoupons, both extremely fine. (2)

£100-150

280Republic of Estonia (Banking & CurrencyReform), 7% Loan, 1927, bond for £500, no.B062,of only 100 issued, vignette of city and river scene,green and black, printed by Bradbury, Wilkinson &Co., with coupons, extremely fine and rare.

£400-500



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281Republic of Estonia (Banking & CurrencyReform), 7% Loan, 1927, bond for £1000,no.C028, of only 100 issued, vignette of city andriver scene, mauve and black, printed by Bradbury,Wilkinson & Co., with coupons, extremely fine andrare.

£400-500

FINLAND282Grand Duchy of Finland, bond for 10 thalers,Helsingfors 1868, coat of arms of the Grand Duchy incentre, black, grey underprint, Austrian adhesive dutystamp, stamped BEZAHLT (Paid) on face, very fine.

£120-150

283Sydfinska Kust - Angfartygs - Bolaget, 40 markshare, Helsingfors 1866, no.575, vignette ofsteamship at top, brown and black, 4 pages, extremelyfine and scarce.

£150-180



53

FRANCE

284Banque Commerciale & Viticole S.A., 500 francshare, Beziers 1922, no.0091, large vignette of nudeallegorical figures, red-brown, with coupons, extremelyfine.

£80-100

285Banque D’escompte de Rouen, 500 franc share,Rouen 1883, no.316, of only 500 issued, beautifulvignette of city and dockside, allegorical females onplinths at either side, black, pale blue underprint, withcoupons, extremely fine and scarce.

£100-120

286Brasserie Cooperative “L’IndependanteWingloise”, 100 franc nominative share, Wingles1914, ornate border of hops and grain, beer mug attop, blue and black, with coupons, some foxing, folds,fine and rare.

£100-120

287Caisse des Mines & des Charbonnages, 100 francshare, Paris 1900, no.12084, very colourful andattractive piece with miner at left, Mercury at right,mining tools at bottom, mauve and yellow, withcoupons, good very fine.

£60-80

288Casinos: A small collection, comprising Casinos deRoyal, 189[8] and 193[4]; Casino Municipal deTrouville, 191[1]; Soc. Fermiere du Grand Casino deSant Raphael (Cote d’Azur), 1925; Casino Municipalde Saint Malo, 1929; Casino Municipal de Menton,[1912]; Grand casino de Chamonix - Mont - Blanc,1923; Casinos de Biarritz, 1956; Hotels et CasinosBasques, 1929; Casino Municipal de Bandol, 1930;Casino Palace Eldorado de Nice, 1912; Casinos deNice, ‘part beneficiare’, 1910 and 100 franc share,1919, and Casino de Vichy, unissued nominativecertificate (2), most with coupons, fine to very fine,several better. (15)

£80-120

289Compagnie Atlantique de Navigation Aerienne,500 franc share, Paris 1923, company flag at topwithin ornate border, twin engined biplane inunderprint, blue and red, with coupons, extremely fine.

£80-100

290Compagnie Maritime de la Seine, a pair ofcertificates for founders shares, Paris [1899] and 100franc share, Paris [1911], vignete of the Thames andTower Bridge top left, the Seine and the Eifel Towerat top right, brown and blue-green respectively, thefirst without coupons, extremely fine, the second scarce.(2)

£60-80



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291La Cigale Théatre-Concert S.A., 100 franc share,Paris 1900, no.01088, ornate border, allegoricalfemales with music score at bottom, mauve and green,with coupons, about extremely fine.

£60-80

292La Participation Sientifique Litteraire &Artistique, ‘part beneficiare’, circa 1880, no.228,attractive design with leaves and scrollwork, blue andorange, signed T.Pory, about extremely fine.

£100-120

293Les Pecheurs Reunis S.A., founders share, Paris192[0], no.750, interesting design with vignettes ineach corner of trawler, steam train, fish packing andfish market, border of various fish, brown and blue,with coupons, about extremely fine.

£120-150

294Manufacture Francaise de Jeux et Jouets Inedits,250 franc share, 1922, no. 165, interesting designwith toys at top, red and black, with coupons,extremely fine.

£120-150

The company manufactured toys and games exclusivelyto the designs of the illustrator Albertilus. Only 520certificates issued.



55

295S.A des Eaux Minérales et ÉtablissementsThermaux de Martigny-les-Bains, 100 franc share,Martigny-les-Bains 189[8], no.19665, beautiful piecewith individual vignettes depicting ‘L’HôtelInternational’ at top, thermal springs at each side andinterior of the hotel at bottom, extremely ornateborder, brown/gold, with coupons, good very fine.

£60-80

The company was founded by Mr Chapier who thenowned the rights to the mineral water and he proceededto huild the current Parc and the 190 roomInternational Hotel. The Shah of Persia and Tsars ofRussia were among the visitors to the Hotel. Despitebeing requisitioned during WWII and severelydamaged, the area, now owned by the Town, is beingdeveloped again.

296S.A. des Eaux Minérales Naturelles de Vichy-Cusset, 100 franc share, Paris 191[0], no.1450, lovelyart nouveau design of classically dressed femalesgathering spring water, panorama of the ‘Source desFees’ across top, blue and green, with coupons,extremely fine.

£60-80

297Société de Produits Céramiques de St.Henry, 100franc founder share, Marseille 190[1], no.3241, veryattractive piece with vignette of allegorical female withceramic vase, factory buildings and site in background,scrollwork at corners, black, buff underprint, withcoupons, extremely fine.

£60-80

298Société des Micro-Phonographes Bettini, foundersshare, Paris 1901, no. 19766, attractive piece withvignette of Bettini at top left, an early phonograph atbottom and borders of foliage at either side, green andbrown, with coupons, good very fine.

£100-120



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299Soc. en Commandite par Actions des GrandsMagasins du Printemps “Laguionie & Cie”,ordinary share of 150 francs, Paris 1905, no.33132,large format piece with allegorical figures andarchitectural border, blue with buff underprint, withcoupons, some minor tape repairs at edges, fine to veryfine.

£120-150

The company was founded in 1865 to build a largedepartment store in Boulevard Haussmann, Paris.Elevators were installed in 1874 during a greatexpansion of the business. Rebuilt following a fire in1881 and was the first to use electric lighting. Connecteddirectly to the Metro system in 1904. The business sufferedbadly in the following year hence the issue of thesecertificates in 1905 with new capital. In recent years thePrintemps brand has changed hands several times.

300Soc. Générale de Librarie Catholique, 500 francshare, Paris 1886, no.422, attractive piece witharchitectural border with vignettes of Rome and Paris,orange brown and black, with coupons, about very fine

£80-100

301Usines d’Automobiles G. Brouhot, 100 franc share,Paris 1906, no.20320, attractive ‘art nouveau’ piecewith lady at the wheel of motor car, large allegoricalfigures at either side, green, brown and yellow, withcoupons, good very fine.

£60-80

302Venise a Paris, 100 franc share, Paris 1899, no.6617,very attractive piece with vignettes of Venetian scenesincluding the Doges Palace, St.Marks and the RialtoBridge, blue, with coupons, good very fine.

£150-180


Lot 299


57

GERMANY

303Germany, 3% Loan, December 1897, a group of 61bonds for 10,000 marks, plus one sheet of extracoupons, Germania at left, arms above, brown, greenand red, with coupons, very fine to extremely fine andscarce top denomination bonds. (61+1)

£250-350

304Deutscher Offizier-Verein, 1000 mark bond, 1891,no.614, ornate border with Germania at left withmediaeval accoutrements, black and red, yellowunderprint, 4 pages, good very fine.

£120-150

305Potash Syndicate of Germany (DeutschesKalisyndikat G.m.b.H), 61⁄2% Gold Loan, series C,1929, a pair of specimen bonds for £20 and £100,from the Bradbury, Wilkinson & Co. archive, verylarge format bonds with large vignette of works,ornate borders, orange and green respectively, bothwith endorsement on face of 1956, with coupons,about extremely fine. (2)

£60-80

306Rostocker Strassenbahn A-G, 2000 mark share,1923, no.2419, very attractive design with electrictram at top, river scene at bottom, black with greenunderprint, small hole cancel, extremely fine.

£100-120


Lot 304 Lot 305

Lot 306


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GREECE

307Greek Government 4% ‘Greek Railways’ Loan of1902, bond for £20 or 500 francs, series D, Athens1904, no.70260, large format piece printed byWaterlow & Sons, with large coat of arms at top,ornate border, red and black, text in English andFrench, very fine and scarce, especially in this condition.

£60-80

308Greek Government 7% Refugee Loan of 1924,bond for $1000, no.M03960, large format withpeasants at top, ornate border, green and black, text inEnglish and Greek, with coupons, also attachedcertificate showing owner domiciled in the USA, splitat folds, very fine and scarce - not cancelled.

£80-100

HUNGARY

309Lloyd Bank AG, a group of 10 certificates for 1 shareof 400 kronen, Budapest 1923, large format, veryornate border of cherubs, fruit and scrollwork, blackand red, text in Hungarian and German, withcoupons, extremely fine.

£100-120

310Magyar Folyam Es TengerhajozasiReszvenytarsasag (Hungarian ShippingCompany), 200 korona share, Budapest 1895,no.12478, attractive piece with shipping at docksideand at anchor, coat of arms left, blue and black, withcoupons, extremely fine.

£100-120

ITALY311Alitalia, Linee Aeree Italiane, nominative certificatefor 1 share of 10,000 lire, Rome 1968, no.101091,ornate border, winged head of Mercury at bottom,brown and black, with coupons, good very fine.

£100-120

312Banca de Credito Italiano, 500 lire share, Milan1879, no.2000, ornate border, blue and black, text inItalian and French, with coupons, about extremely fine.

£80-100

313FIAT, certificate for 50 ordinary shares of 50 lire,Torino 1961, birds eye view of the huge Fiat factory,mountains in the background, red, brown and blackwith yellow underprint, with coupons, almostextremely fine and rare.

£400-500

314Fiat - San Giorgio, 10 shares of 100 lire, Torino1917, no.1750, huge vignette of submarine and crewat sea framed by ropework, anchor, propeller andother maritime items, brown, with coupons, aboutextremely fine and rare.

£700-800



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Lot 311

Lot 314

Lot 313


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315Industria Sarda Cioccolato ed Affini Coco & C.,250 lire shares, Cagliari 192[5], attractive ArtNouveau design with Palazzo del Comune top left, thecompany’s factory at bottom, green and brown, withcoupons, good very fine.

£80-100

316Itala, Fabbrica di Automobili, 25 shares of 25 lire,Torino 1921, ornate border, logo in underprint, red,black and pink, with coupons, good very fine.

£180-220

317Pirelli, one share of 500 lire, Milan 1947, vignette ofworkers producing motor tyres, ornate border, brown,with coupons, good very fine.

£60-80

LITHUANIA

318Lithuanian Liberty Loan, 1919, specimen bond for$100 printed by the American Bank Note Co., stylisedhorseman in full armour at top, green and black, textin English and Lithuanian, issued by the LithuanianMission to America, with coupons, extremely fine.

£180-220

The country was gradually annexed by the RussianEmpire during the 18th century but achieved a shortperiod of renewed Independence at the close of WW1. Thecountry was again occupied during WWII and thenbecame part of the Soviet Union. The first State to breakwith the Soviet Union and declare independence againin 1990.

319City of Wilno (Vilna), 5% Conversion Loan, 1931,pair of bonds for £20, numbers 4813 and 4814, blueand black, ornate border, with coupons, good very fine.(2)

£100-120


Lot 315

Lot 317


61

LUXEMBOURG320Luxemburg: Banque Nationale, 500 franc share,1873, no.7386, ornate border, text in French andGerman, olive green and black, with coupons, aboutextremely fine.

£120-150

NETHERLANDS AND COLONIES321An interesting and varied collection of Netherlandsand Netherlands Indies certificates (157), includesrailways, banks, many plantation companies, minesand a few Government loans, ranging in date from the1880’s through to the 1930’s, virtually no duplication,varied condition but mostly very fine and some better.(157)

£200-250

NORWAY

322Norwegian 4% State Loan, 1880, a specimen bondfor £500, from the Bradbury, Wilkinson & Co.archive, extremely large format piece with coat of armsof Norway in centre, ornate border, text inNorwegian, German, French and English, red andblack with pink underprint ‘£500’, with coupons,small hole cancel over printed signature, almostextremely fine but traces of mounting on reverse leftedge.

£160-180

323Chr. Knudsen’s Rederi A/S, 500 kroner share,Frednes, Porsgrund 1929, numbers 687 and 696,vignette of fishing vessel at top, ornate border, blueand black, both issued to Liverpool shareholders,extremely fine. (2)

£60-80

324Dampskib “Vasconia”, 2500 kroner share, Bergen1916, fine border, black, with coupons, very fine.

£60-80

325Telemarken Copper Mining & Smelting CompanyLtd., a pair of bearer warrants for 1 and 5 shares of £1,1906, no.61081 & 17381-17385, extremely largeformat each with 3 photographic vignettes of thecamp, buildings and offices, red and brown with palegreen underprint, with coupons, small edge split on the1 share, very fine to about extremely fine. (2)

£60-80

POLAND326Republic of Poland, 20-Year 6% Dollar Gold Loan,a group of bonds for $50 (10) and $100 (10), Polisharms at top, ornate borders, green and bluerespectively, with coupons, endorsement across face,mixed condition, some cut badly where old couponsremoved, generally very fine. (20)

£250-300



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PORTUGAL AND COLONIES

329Banco Industrial Portugues, 100 escudo share,Lisbon 1921, no.21489, allegorical figures at top,ornate border, green, 4 pages; together with BancoColonial Portuguez, 100 escudo share, 1918, no.3,arms at top, colonial docks at right river scene left,blue and green, 4 pages, very fine and better. (2)

£60-80

330Companhia das Aguas Medicinaes do Arsenal deLisboa, a group of certificates comprising 1 share of10,000 reis, 1907, no.2378; 50 shares of 10,000 reis,1907, unissued and not numbered; 5 shares of 10escudos, 1920, no.10411-10415 and 10 shares of 10escudos, 1920, no.11821-11830, all with building attop, grey, brown, green and yellow respectively, veryfine to extremely fine. (4)

£60-80


327A Europa, Companhia de Seguros, 1 share of 100escudos, Lisbon 19[19], no.2532, large format piecewith ornate border, allegorical female with globe,green, good very fine.

£100-120

328Banco de Seguros, 5 shares of 5 escudos, Lisbon192[1], no.51792-51796, small format piece withvery atractive embossed vignettes of the company sealin gold, red, slver and black, ornate border, blue andblack, some foxing, good very fine.

£60-80


63

331Companhia Nacional de Viacao e Electricidade, 20shares of 25 escudos, Lisbon 19[20], no.39536-39555, very large vignette of allegorical female andsphinx at top, with waterfall, electric tramway andhydro-electric plant, green and brown, 4 pages, a littlespotting at top edge, very fine.

£60-80

332Empreza Industrial da Luz Lagos, pair of certificatesfor 1 share of 100 escudos and 5 shares of 100escudos, both Lisbon 19[06], no.073 and no.271-275, allegorical figures at top, ornate borders, blueand brown respectively, 4 pages, good very fine andscarce. (2)

£80-100

333SACOR - Sociedad Anonima Concessionaria daRefinacao de Petroleos em Portugal, a group ofspecimen bearer shares from the Bradbury, Wilkinson& Co. archive, comprising, 1951, 1 share; 1953, 20shares and 500 shares; 1958, 1 share, and, 1965, 1, 5and 10 shares, all with stylised oil refinery at top, verycolourful, with coupons or counterfoil, generallyextremely fine and better. (7)

£60-80

334Portuguese Colonies:, A pair of certificatescomprising Companhia do Sul de Angola, 5 sharesof 100 escudos, 192[2], no.24441-24445, ornateborder with vignettes at top, red, and Companhia deTimor, one share of 4500 reis, 1912, vignette ofnatives at work, green, very fine to extremely fine. (2)

£80-100



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335Angola: Companhia da Pesca da Baleia, 1 share of100 escudos, Mossamedes 191[0], no.131, whalingvessel with dead whale on dockside in centre, furthervignette of harpoon gun and spouting whale at sea,blue, good very fine and very rare.

£280-340

336Companhia da Guine, 1 share of 100 escudos, Porto1919, very attractive piece with architectural borderwith allegorical figure looking across the sea at agalleon, blue, good very fine.

£100-120

ROUMANIA337Roumanian 4% Consolidation Loan, 1922, a set ofspecimen bonds (excluding the £10 denomination) for£1000, £500, £100, £50 and £20 from the Bradbury,Wilkinson & Co. archives, large format pieces withvignette of peasant driving team of oxen, green,mauve, brown, red and orange respectively, text inEnglish, French and Roumanian, about extremely fine.(5)

£150-200

SERBIA338Kingdom of the Serbs, Croats and Slovenes, 4%Loan for the Liquidation of Mortgages of Bosnia &Herzegovina, 100 dinars, Belgrade 1921, series 1847no.41, large format piece, very colourful andenormous vignette of agricultural scene with peasantsin local costume, with coupons, extremely fine.

£60-80

SPAIN339Sociedad de Minas La Estrangera, certificate for oneshare, Murcia 1854, no.62, 3rd quarter, together withSociedad Minera La Amistad, certificate for oneshare, Madrid 1852, no.17 - 3rd quarter, both typicalearly Spanish designs with ornate borders with miningtools etc., both black, 4 pages, very fine to extremelyfine. (2)

£80-100


Lot 336


65

340Pair of Spanish certificates, comprising El Sol,Madrid, 1000 peseta share, 1918, no.0102, rising sunat top, cockerel at bottom, red blue and yellow, withcoupons, and El Porvenir Industrial, 500 peseta share,Vitoria 1901, no. 1805, horseshoe at left with lionabove, black and pink, with coupons, both extremelyfine. (2)

£60-80

El Sol was an independent daily newspaper and ElPorvenir was a manufacturer of horseshoes.

341A trio of Spanish mining certificates, comprising LaCarbonera de Cordoba, share number 142/2a,Madrid 1855, very intricate but typical Spanish borderof miner, allegorical figures, scrollwork and miningscenes, gold, 4 pages; Sociedad Metalurgica de losPirineos Orientales B de la Chapelle y Cia, co-partnersshare, no.526, Barcelona 1886, ornate border ofmining region and various metallic processes, black,with coupons, and, Compania Minera de Carbones deSan Saturnino de Noya, 5 shares, Barcelona 1900,no.766-770, attractive vignette of miners at mineentrance with wagons or ore, black, with coupons, allextremely fine. (3)

£100-120

342Generalitat de Catalunya, 51⁄2% Treasury Loan,1936, 500 pesetas, no.11322, attractive piece withvignettes of Catalan industries, black, grey and red,with all coupons, good very fine.

£50-60

A rare piece issued just before the outbreak of Civil War.The Generalitat was restored in 1932 but was suspendedfrom 1934 until 1936 because of its rebellion againstcentral Spanish authorities. This loan was issued justafter it was again restored. Abolished again by Franco atthe conclusion of the Civil war in 1939 until 1975.Although a large issue very few pieces have been seen.

343Aguas Potables y Alcantarillado de Manzanares,250 peseta share, 1930, no.4341, large format,waterfall at top, water pipes at right and aroundborder, red and black; together with Pantano laBerne, 6% bond, 500 pesetas, Pamplona 1929,no.3787, dam at top left, ornate border, yellow-brown, with coupons, good very fine and better. (2)

£60-80



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344Alcoy and Gandia Railway and Harbour Co. Ltd.,a group of 5 £100 debentures, 18[90], large formatpieces with vignette in centre, ornate border, grey andpink; together with other bonds and shares of theworld including Roumania: 1913 41⁄2% Rente, 500lei bonds (45); China, 1922 Railway EquipmentLoan, £20 bond; Kingdom of Roumania MonopoliesInstitute, 1929, £100 bond; Kingdom of Bulgaria, 7%Settlement Loan, 1926, £100 bond; GreekGovernment 7% Refugee Loan of 1924, £100 bond,1924, and, other certificates (35) and a group ofcoupons for the Egyptian Delta Light Railways Ltd.,mixed condition but many very fine. (89)

£100-150

345Anglo Vasco Navarro Railway Co. Ltd., a group of13 x 5% First Mortgage bonds for £20, 18[89], verylarge format bond printed by Bradbury, Wilkinson &Co. in black with green underprint, coat of arms attop, steam train at bottom, text in English andSpanish, with coupons, mostly extremely fine. (13)

£200-300

346Carthagena & Herrerias Steam Tramways Co.Ltd., a group of 20 registered debentures of £100,1907, numbered 519 to 538, ornate border, black,impressed red revenue stamp, very fine to extremelyfine. (20)

£60-80

347Compania del Ferrocarril de S.Feliu de Guixols aGerona, 6% bond, 1925, no.428, attractive vignette ofshipping in harbour, underprint vignette of steam train,blue, with coupons; Compania del Tranvia a Vapor de Ondaal Grao de Castellon de la Plana, 5 shares of 250 pesetas,Barcelona 1890, no.2616-2620, steam train at bottom,coats of arms at top, pink and black, with coupons, and,Villena a Alcoy a Yecla y Alcudia de Crespins, 475 pesetabond, 1883, no.18526, ornate border, steam train at topand railway scenes at either side, brown, text in Spanish andFrench, with coupons, generally extremely fine. (3)

£60-80

348Compania General de Comercio de los Cinco GremiosMayores, certificate for one share, 1773, a large format andattractive piece printed in black, on vellum, vignettes of theMadonna of the Rosary and St. Francis of Assisi, scrollworkand the company name below, handsigned by JosephMartin de Layseca and others, better than very fine and veryscarce.

£3,500-4,000

The Five major guilds of Madrid was to become one of the mostimportant business groups in the Spanish Empire, conductinggeneral trading business but also banking and insurance,much of it for the State. Helped significantly with financingthe Imperial and Royal Canals. By the late 1780’s it wasweakened by heavy competition with the Banco de San Carlosand the decline of the Treasury caused by the Napoleonic Wars.One of the rarest of the 18th century Spanish tradingcompanies.


Lot 348


67

349Electrica Nuestro Senor del Pano S.A., 500 pesetashare, series 1, no.84, Granada 1912, allegoricalfemale holds wire from dynamo and light bulb, brown,green and yellow, with coupons, extremely fine.

£60-80

350Empreses Mineras e Industriales del Norte deEspana, 100 peseta share, San Sebastian 1908, mo.3959, architectural arch in centre with miners at workon right and dockside at left, blue and black, withcoupons, very fine.

£60-80

351Energia Electrica del Mijares S.A., 6% bond for 500pesetas, Valencia 1929, large format piece with nudefigures with castles at either side, blue with coupons,extremely fine.

£60-80

352Extraccion de Letrinas, 250 peseta share, Barcelona1883, no.2623, attractive piece with vignette ofwagons emptying latrine; together with 4 otherSpanish pieces comprising Fomento de la PrensaTradicionalista, 500 peseta share, Barcelona 1904;Productos Selectos del Cerdo S.A., preference share,Manlleu 19[25]; Torras Herreria y Construcciones,1000 peseta share, Barcelona 1918, and, SociedadTiro de Pichon, 100 pesta bond, Puerto de SantaMaria 1914, of only 170 issued, an attractive andscarce lot, very fine to extremely fine. (5)

£120-150

353Hilaturas Navarro - Cabedo S.A., 5000 pesetashare, Valenci 1927, no.0699, fabulous large designby Marco Perez of various scantily clad figures by giantspiders web, bull and tree, printed in gold and black,the remainder brown with yellow underprint, withcoupons, has been lightly trimmed but otherwise aboutextremely fine and scarce.

£100-150

354La Curtidora Catalana, 2000 reales share, Barcelona1857, no.1404, vignette of factory at top, cornucopia,scrollwork, tools and sheep and cow heads, black, 4pages, about extremely fine.

£50-60



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355La Hispano Suiza Frabrica de Automóviles S.A.,500 peseta share, 6th issue, Barcelona 1916, fulllength vignette of female in ‘art nouveau’ style, motorcar in background, red and black, about extremely fineand clear margin at right.

£150-180

356La Yberica, Empresa Constructora y Canalizadora,bond for 500 pesetas, Madrid 187[1], no. 230, series2, crowned arms at top, black with buff underprint,extremely fine.

£80-100

357Metalurgica de Vitoria, 500 pesta share, Vitoria1900, no.2273, large format Art Nouveau style withfloral border, two nude male metalworkers in largevignette to left (anvil and a small piece of text suitablyplaced!), green and mauve, with coupons, good veryfine.

£100-120

358Minas y Ferrocarril Utrillas S.A., 500 peseta share,Zaragoza 1902, no.3809, stylised design in centrewith coats of arms, steam train and mining tools, redand black, with coupons, very fine.

£60-80

359Sociedad General de Automoviles, 500 peseta share,Barcelona 1911, no.0023, attractive motor car at left,black, extremely fine; together with CompaniaGeneral de Coches y Automoviles, 500 peseta bond,Barcelona 1910, no.1821, vignette of wide boulevardfilled with traffic, brown and black, with coupons, holecancelled, extremely fine. (2)

£60-80


Lot 355


SWEDEN

69

360Göteborgs Stads (City of Gothenburg), 5% Loan,1878, a specimen bond for 4000 kronor or 4500Reichsmark, from the Bradbury, Wilkinson & Co.archive, large format piece with coat of arms at top,red & black, text in Swedish and German, 2 small holecancels over signature area, small stain at top right,extremely fine and scarce.

£150-180

361Aktiebolaget Bofors, a group of 3 certificates for 5shares, 1960, 1 share and 10 shares, 1964, underprintvignettes of crowned eagle, black with green, mauveand red printing respectively, 4 pages, with coupons,filing holes, extremely fine. (3)

£60-80

362Bispbergs Aktiebolag, 100 gold kroner, 1876,no.0014, attractive piece with quarry/mine in centre,mauve and black with pale green underprint, 4 pages,with coupons, good very fine.

£120-150

363Borgviks Aktie Bolag, 1500 riksdaler share, Carlstad1863, no.5, very attractive piece with map coveringthe whole of the first page, steam engine, shipping andriver around border, blue and black, 4 pages, holecancelled, extremely fine.

£60-80


Lot 360

Lot 363


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364Carlstads Hamn och Kanal Bolag, 200 riksdalershare, 1852, no.70, lovely vignette of the canal andbuildings, black, 4 pages, near extremely fine and rare.

£200-250

365Ford Motor Company AB, 1 share of 100 kroner,Stockholm 1929, no.2553, issued to Ford Motor Co.Ltd. in London, ornate border and heading, blue andblack, text in Swedish and English, 4 pages, extremelyfine.

£200-250

366Gefle Manufaktur AB, 1000 riksdaler share, 18[49],no.209, of only 600 issued, vignette of factory byriver, black, light cancellation across face, filing holes,good very fine and rare.

£250-300

367Gotha-Kanal Bolags, 5 shares of 100 riksdaler, seriesC, 1833 (1888 replacement certificate), no.156,vignette of stylised vignette of canal barge, allegoricalfigures before lock gate, black, with coupons,extremely fine.

£60-80

368Holms och Graninge Bruks-Bolag, 5200 riksdalershare, Stockholm [1848], no.105, black, cancelledacross face, near extremely fine.

£200-250



71

369Johannesborgs Koboltverks, 1800 riksdaler share,Stockholm 1825, no.67, black, 4 pages with manyendorsements on the inner pages, almost extremelyfine.

£180-200

370Nitro Nobel AB, a set of 3 certificates for 1, 5 and 10shares of 100 kroner, Gyttorp 1969, ornate borders,yellow, pink and green respectively, 4 pages, holecancels, extremely fine. (3)

£60-80

371Nobel Diesel, certificate for 10 shares of 100 kroner,group B, Stockholm 1919, no.22691-22700,steamship at top, ornate border, blue and brown,yellow underprint, 4 pages, extremely fine.

£50-60

372Porla Brunns Aktiebolag, 1 share of 500 kroner,Stockholm, 1874, no.87, vignette of building,attractive red, black and green printing, endorsementsfrom 1955 and 1971, cancelled, good very fine.

£120-150

An early Spa dating back to the middle ages. A companywas formed in 1826 to operate the Spa and it becameSwedens most frequented during the 19th century. Thecompany is now best known for its bottled mineral water.

373Scania-Vabis, 10 preference shares of 100 kroner,Sodertalje 1916, no.24371-24380, ornate border,black with pink underprint, 4 pages, with coupons,centre fold otherwsie about extremely fine.

£60-80

374Pair of Swedish shipping companies, Sverige-Nordamerika, 100 kroner, Goteborg 1916, steamshipat top, blue and yellow, with coupons; Transatlantic, 5shares of 100 kroner, Goteborg 1923, ships atdockside at top, underprint map, red and brown, withcoupons, both extremely fine. (2)

£50-60



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375Skane-Smalands Jernvags AB, 5 shares of 100kroner, 1890, no.22281-22285, steam train and coatsof arms, ornate border, black, oliver and red, 4 pages,with coupons, almost extremely fine.

£60-80

376Sodertelge Canals Slussverk, 500 riksdaler share,1819, no.216, vignette of canal gates at top, black, 4pages, lots of endorsements on the inner pages, goodvery fine.

£150-180

377Spetsbergens Svenska Kolfalt, 100 kroner share,Stockholm 1917, no.20011, map at left, blue andblack, 4 pages, with coupons, extremely fine.

£120-150

378Stromsholms Slusswerks, certificate for [2] shares of160 riksdaler, Stockholm 1800, no.436-437,allegorical figure with coats of arms black, 4 pages, veryfine and rare.

£400-500


Lot 375 Lot 376

Lot 378


73

379Svensk Konsthandel, 500 kroner share, Stockholm1918, no.136, nude reclining female reading scroll,black, green underprint, 4 pages, with coupons, goodvery fine.

£60-80

380Wexio-Tingsryds Jernvags AB, 100 kroner share,Wexio 1896, no.4013, vignette of steam train at top,blue-grey, 4 pages, tiny nick at extreme top rightcorner, good very fine.

£80-100


SWITZERLAND

381Societe de Charbonnages des Alpes, 250 franc share,Geneva 1902, no.2427, attractive scrollwork border, withminers at left and right, tools at bottom and Swiss arms attop, text in French and Italian, underprint of Alps, blue, withcoupons, very fine.

£60-80


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GREAT BRITAIN AND IRELAND

GOVERNMENT FINANCE

382English Civil War, 1642, a receipt in the sum of[£15] for payment towards ‘Arming maintaining andpaying of Souldiers’, a small format printed documentwith manuscript insertions, issued, with interest,according to Parliamentary Ordinance 14thNovember 1642, small split at fold, very fine and rare.

£80-100

Ordinances were in effect Acts of Parliament but styledin this way because King Charles I would not assent tobills of a Parliament at war with him. This was issuedjust months after the start of the Civil War.

383An early receipt of payments by the Sheriff ofDorset, 1652, addressed to Thomas Fauconbridge asReceiver General of Public Revenue, also signed byRobert Wilson and Thomas Shadwell as receivers forthe exchequer, handwritten on 4 pages, fine andscarce.

£200-250


384An interesting and rare group of manuscripts,relating to the sale of a property at Wallerscote inCheshire, by Hugh, Viscount Cholmondeley of Kellsto Richard Vernon for the sum of £2350, 1697/1698,comprising a statement and discharge, signed byCholmondeley that he has received 4 paymentsbetween November 1697 and March 1698, three viaBanker Sir Francis Child and one via Messrs Moore &Payne; the 4 cheques, payable at either 3 or 6 dayssight, 1697 or 1698, signed by Vernon and addressedto Richard Snagg, Goldsmith at the White Horse,Lombard Street (on the second two it is called theFlying Horse), signed on the reverse by Cholmondeleyand his witnesses and endorsed on behalf of Sir FrancisChild or Moore & Payne, and, the original bondbetween Vernon and Cholmndeley for the payment,this printed with manuscript insertions, the last has apiece removed (as cancellation?), all folded but in finecondition. (6)

£800-1,000

Hugh Cholmondeley, 1st Earl of Cholmondeley, PC(1662 - 1725), English peer and politician.Cholmondeley was the eldest son of Robert Cholmondeley,1st Viscount Cholmondeley, succeeded his father as secondViscount Cholmondeley, but as this was an Irish peerageit did not entitle him to a seat in the English House ofLords. He supported the claim of William and Mary tothe English throne, and was rewarded when he was madeBaron Cholmondeley, of Nantwich, Cheshire which gavehim a seat in the House of Lords. In 1706 he wasadmitted to the Privy Council and made ViscountMalpas, and Earl of Cholmondeley. AppointedComptroller of the Household by Queen Anne in 1708and Treasurer of the Household in the same year. He alsoserved as Lord Lieutenant of Anglesey, Caernarvonshire,Denbighshire, Flintshire, Merionethshire andMontgomeryshire from 1702 to 1713 and from 1714 to1725 and of Cheshire between 1703 and 1713 and 1714and 1725.


75

385Exchequer Bill for £1000, 1811, no.16, signed byLord Grenville as first Lord of the Treasury,scrollwork at left and right, black printing on thickpaper, embossed ‘portcullis’ seal, small holecancellation, almost extremely fine and very rare.

£700-900

William Wyndham Grenville, 1st Baron Grenville PC(1759 - 1834) British Whig statesman and PrimeMinister of the United Kingdom from 1806 to 1807.Grenville held many top offices during his illustriouscareer becoming Paymaster of the Forces from 1784 to1789. He served briefly as Speaker of the House ofCommons before he entered the cabinet as HomeSecretary. He became Leader of the House of Lords whenhe was raised to the peerage in 1790. Appointed ForeignSecretary in 1791.

3861916 (November 1st), 51⁄2% Secured Loan, 5-YearGold Note, $1000, a specimen certificate printed bythe American Bank Note Company, vignette ofNeptune and coat of arms at left, green and black,coupons at right, numbered 00000 and overprintedSPECIMEN in red, good very fine and very rare.

£300-400

3871917 (February 1st), 51⁄2% Secured ConvertibleLoan, 2-Year Gold Note, $5000, a specimencertificate printed by the American Bank NoteCompany, vignette of reclining Britannia, mauve andblack, coupons at right, numbered 00000 andoverprinted SPECIMEN in red, good very fine and veryrare.

£300-400

3881918, 5% National War Bond, 1918, Redeemablein 1928, £5 bond, 2nd series, a specimen certificatenumbered X00000 and overprinted SPECIMEN inseveral places, facsimile signature of John Bradbury asSecretary of the Treasury, red, with coupons, somedamage to top edge with a small piece missing otherwisefine and very rare, the only example known to us.

£300-400



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3891922 (December 15th), 62-Year 3-31⁄2% GoldBond, a specimen bond for $4,600,000 (theequivalent of £1 million!), scrollwork at each side, blueand black, overprinted SPECIMEN in red in twoplaces, on Bank of England watermarked paper, 4pages, good very fine and very rare, the only knownexample.

£600-800

3901924 (July 1st), 41⁄2% Conversion Loan, 1940-1944, £100 bond, a specimen certificate numberedB000000 and overprinted SPECIMEN, facsimilesignature of N K Warren-Fisher as Secretary of theTreasury, red-brown, with coupons, good very fine andvery rare, the only example known to us.

£400-500

3911934 (September 15th), 3% Funding Loan 1959-1969, £100 bond, a specimen certificate numberedB000000 and overprinted SPECIMEN in red,facsimile signature of N K Warren-Fisher as Secretaryof the Treasury, orange-brown, with coupons, goodvery fine and very rare, the only example known to us.

£400-500


Lot 389

Lot 391

Lot 390


77

SOUTH SEAS COMPANY

x392South Sea Company (Governor and Company ofMerchants of Great Britain Trading to the SouthSeas), an attractive power of attorney, 17[21],authorises Willam Beever of the Exchequer to sell andtransfer all shares standing in the name of the GeorgeEarl of Halifax, as executor of the estate of his uncle,Charles Earl of Halifax, large vignette of the arms ofthe company at top, black printing with manuscriptinsertions, signed Halifax at bottom, with red waxseal, embossed duty stamps, a few very minor tears atedges otherwise very fine and very rare.

£800-1,200

George Montagu, 1st Earl of Halifax PC (1684 - 1739),MP for Northampton (1705), Auditor of the Exchequer,Privy Councillor and made Lord Justice in 1720.

CANALS AND INLAND NAVIGATION

393Glocester [sic] and Berkeley Canal Company, oneshare, [1794], no.727, black printing, on vellum,yellow wax and paper seal at lower left, good colour,good very fine.

£300-400

394Grand Junction Canal Company, certificate for[half] share, 18[12], no.6064, vignette of companyseal at top, black, very fine.

£200-300

Opened in 1805 and ran from Braunston to Brentford.Became part of the Grand Union Canal in 1929.



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395Huddersfield Canal Company, one share, 1794,no.1655, black printing on thick paper, lovely paperseal at left, very fine and scarce early issue.

£300-400

The company was formed in 1794, closed in 1944. A 20mile canal joining Huddersfield to Ashton-under-Lyneand the Ashton canal.

396Mercy [sic.] and Irwell Navigation, certificate forone share, 1724, no.489, black printing, on vellum,red wax seal with signatures of seven officers of thecompany, blue paper revenue stamps, vellum slightlydiscoloured as usual otherwise very fine and a goodquality example.

£800-1,000

The company received its Act of Parliament in 1721 andwork began on making the Rivers Mersey and Irwellnavigable in 1724. By 1734 small boats were able to sailfrom the centre of Manchester through to the Irish Sea.The company was acquired by its great rival, theBridgewater Canal Company, in 1846.

397North Walsham & Dilham Canal, certificate for oneshare of £50, 18[25], no.149, black printing onvellum, paper seal at left, tiny ink mark in centre, veryfine.

£150-200

Canalization of the River Ant from Swafield Bridge toSmallburgh, just under 8 miles.

398Regents Canal, a share transfer dated 18[44], for [8]shares in the company, printed document on thickpaper, manuscript insertions, handsigned; togetherwith other Canal documents comprising BirminghamCanal Navigations, 1835 for one subdivided share;Woking, Aldershot and Basingstoke Canal &Navigation Co. Ltd., debenture, £50, 189[6]; GrandJunction Canal, an office copy of a share transfer dated183[1], black printing and two canal freightdocuments, generally very fine. (6)

£180-220

399River Trent Navigation, certificate for £50 share,18[59], no.329, in the name of the Hon Philip SydneyPierrepont, black printing, 4 pages, nice embossed sealat bottom, good very fine.

£60-80

Runs for about 95 miles from Wilden Ferry to TrentFalls where it joins the river Ouse.



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400Rivers Thames and Isis Navigation, a 41⁄2% bond for£100, 17[88], no. 52, black printing, on vellum, 12signatures of the Commissioners, each with small waxseal, interest payments annotated on the back andfront of the piece from 1789 through to 1863,sometimes across the printed text, a few endorsementson the reverse, vellum a little discoloured as usual, veryfine and very rare

£300-350

An Act of Parliament was passed in 1771 for‘improving and completing’ the navigation of theThames and Isis Rivers from the City of London toCricklade in Wiltshire. Commissioners were appointedwho prompty raised the necessary funds with these bonds.interest was paid at 4½% which was paid out of incomederived from rates, tolls and duties charged at Locks, TollHouses and Turnpikes. The navigation was vested in theThames Concervancy from 1866 when it was consideredthat the locks and other structures were considered to bein a poor state of repair and there was insufficientincome for proper maintenance. This got rid of therather ancient and unwieldy regulation by thenumerous commissioners.

401Rochdale Canal Company, certificate for [6] shares,18[05], numbers 660-665, black printing, paper sealat bottom left, very fine.

£200-300

Company formed in 1794 and canal opened in 1804running the 32 miles from Sowerby Bridge to Duke’sLock, Manchester. Closed in 1952 but opened again forleisure use in 2002.


Lot 400

Lot 401


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402Wey and Arun Junction Canal Co., One share,18[31], No.905, vignette of company seal at top,embossed paper seal, black, some paper loss abovesignature which has been neatly backed, some damage totop edge, body very fine.

£120-150

RAILWAYS403Aberdeen Railway Company, certificate for 1 share,18[45], no.3207, coat of arms at left, black; togetherwith Ayrshire & Galloway Railway, 2 scrip certificatesfor 5 shares of £25 each, undated but almost certainly1844/45, black on blue paper; Caledonian RailwayCompany, deferred ordinary stock No. 1, £[2000],[1920], no.30/5229, mauve, and, a group of variousrailway related documents (18), fine to very fine.(4+18)

£120-150

404Ayr and Maybole Junction Railway Company, alarge group of certificates comprising £10 shares,18[55], 11 examples, generally very fine and better;,similar but unissued examples (10), with two types ofprinters imprint; Additional Capital stock, 1866,issued examples 18[66] and 18[88] and unissuedexamples (25), together with dividend warrants andcheques (28), mixed condition but many are very fineand better. (76)

£200-250

406Bridport Railway Company, a group of certificatesfor £10 share, 1855 (46), coat of arms at top, black,hole cancelled through embossed seal, glue residue atleft, mostly about very fine; together with £10 5%preference shares, 18[81] (17), scrollwork at left,black on orange paper, hole cancelled in several places,some light glue residue on reverse, very fine. (63)

£200-300

407Carlisle & Silloth Bay Railway & Dock Company,3 certificates for one share, 1855, numbers 2306,2307 and 2308, black on blue paper, together withordinary stock certificate, 18[66], no.116, black;Whitehaven & Furness Junction Railway Co.,preference share, 185[8], orange-brown; BorderCounties Railway Company, 6 certificates for 5 sharesof £20, 185[5], black, green underprint, embossedseals, and, Border Counties Railway Co., 5 unissuedcertificates for £20 shares, 186-, red, generally veryfine. (16)

£250-300

408City of Glasgow Union Railway Company, a seriesof certificates comprising D Preference ConsolidatedStock, 18[76], E Preference Consolidated Stock,18[78], F Preference Consolidated Stock, 18[87] and18[94]; College Station stock, 10 examples all datedin the 1880’s; Saint Enoch Station 4% stock, 15examples, all dated 18[82]; 4% debenture stock, 7examples dated 1878 to 1882; a mortgage debentureno.83 for £[400], 1870, and, a group of interestwarrants, 1870’s (12), all cancelled and in mixedcondition but many fine and a few better. (49)

£100-150


405Blaydon, Gateshead & Hepburn Rail Way Co.,certificate for [5] shares, 183[5], no.130, issued toJohn Lionel Hood, attractive vignette of steam trainwith coal wagons and ship at dockside, minebuildings in the distance, chain links at left, black, onvellum, lovely embossed seal attached to lower right,very fine.

£3,500-4,000

Incorporated in 1834 to build a 101⁄2 mile line as anEastern outlet for the Newcastle and Carlisle Railway.Only 1¾ miles was actually built before the line wastaken over by the Newcastle & Carlisle in 1836. JohnLionel Hood, a sheriff of Newcastle in 1825 and mayorin 1834.

Please see illustration on next page.


81

409Direct London and Exeter Railway, with extensionto Falmouth and Penzance., scrip certificate for 20shares of £25 each, 1845, no.E24, green, printed byWaterlow & Sons about very fine;, together with WestCornwall Railway Company, certificate of £20 share,184[6], no.6097, scrollwork at left, red paper sealbottom left, black, small crease at bottom left cornerotherwise extremely fine, and certificate for guaranteed5% stock, 19[19], no.897, black, glue residue onreverse, cancelled, about very fine. (3)

£60-80

410Dublin and Meath Railway Company, £25 share,1858, a good group of 48 certificates, all made out toLord Dunsany, vignette of the company seal at top,black, minor discoloration on the first and last otherwiseextremely fine (48)

£800-1,000


Lot 405


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411Fermoy and Lismore Railway Co., £10 shares,18[83], no.3, issued to Frderick John Howard, one ofthe directors, scrollwork at left, black, stampedcancelled over signature, about extremely fine and rare.

£160-180Incorporated in 1869 to build a 151⁄2 mile line from theSouthern at Fermoy to Lismore. Much of the capital camefrom the Duke of Devonshire, of Lismore Castle, for thebenefit of his tenants and develop trade.

412Fleetwood, Preston & West Riding JunctionRailway Co., £12 share, 1846, no.7673, attractivevignette of coats of arms with steam train and ploughin background, black with pink underprint, attractivered embossed seal, a little creased, very fine.

£60-80

413Glasgow and South Western Railway Company, agroup of unissued certificates for preference share of£10, 185-, 13 examples, and Ardrossan Guaranteedstock, 185- various printed amounts from £5 to£1000, 35 examples, all attractive black printing,mostly extremely fine. (48)

£100-150

414Golden Valley Railway Company, one share,187[8], no.1256, small vignette of steam train inscrollwork at left, attractive orange printing byWaterlow Bros. and Layton, very fine.

£60-80Short line running from Pontrilas on the Great WesternRailway in Herefordshire to Hay, Breconshire, fullyopened in 1889. Partly closed due to financial difficultyin 1897 followed by the remainder in 1898. The GreatWestern Railway purchased the line from the liquidatorin 1899.

415Great North of England Railway Co., £100 share,18[36], no.3377, chain at left with names of townsthrough which the railway passed on each link, black,embossed seal, together with related transfercertificates (4), good very fine.

£120-150

416Great Western Railway Company, a small collectioncomprising; fifth share of £20, 18[41], no.85563,turquoise with peach underprint, green paper seal;debenture stock, 18[88], no.16429, ornate title,green, cancelled; 5% consolidated guaranteed stock,19[11], no.98981, orange; 5% consolidatedpreference stock, 19[17], no.99429, blue; 5%consolidated preference stock, 19[23], no.18812,blue, all cancelled, except the first, and otherpaperwork (4), fine to very fine but first with smallpiece missing from top right corner. (9)

£60-80

The company was incorporated in 1835 after numerousother attempts for a railway linking London to Bristol.The line opened in 1841 and soon built connections withother railways in the West of England. It also absorbed,purchased and leased railways running in the Midlandsand Wales, eventually covering 6398 miles of singletrack by 1921.

417Greenock and Ayrshire Railway Company, £10shares, 186[6] to 186[72], 5 examples, three are poorwith tape repairs, similar but 13 unissued examples;preference consolidated stock, 18[69] to 18[72], 5examples and similar but unissued, 12 examples, allgreen printing, mixed condition, the issued piecescancelled and about very fine, the unissued piecesgenerally extremely fine. (35)

£80-120



83

418Hull and Selby Railway Company, an attractivegroup of certificates for £25 or half share (3),scrollwork at left, blue, and £12 10s share (9),scrollwork at left, black, all dated 18[45] withembossed seals, very minor foxing at edges otherwiseabout extremely fine. (12)

£150-180

419Leeds & Thirsk Railway Company, certificate forone New Extension share, 184[8], no.42915, ornateprinting, black, pink seal, printed on linen, almostextremely fine.

£80-100

420Leominster and Bromyard Railway Company, agroup of certificates for £10 share, 18[80] or 18[81],scrollwork at left, black, printed by Waterlow & Sons,generally extremely fine. (20)

£150-200

421Limavady & Dungiven Railway Co., ordinary £10shares, fully paid, 1882, plain border, black, embossedseal, printed in Belfast, good very fine. (4)

£120-150

422Liverpool, Manchester and Newcastle upon TyneJunction Railway Co., £20 share, 1846, no.63868,coat of arms at top surmounted by Liver bird, black,large red embossed seal with arms of the 3 cities, usualsmall spike hole but extremely fine.

£50-60

423Liverpool, Manchester and Newcastle upon TyneJunction Railway Co., £20 share, 1846, well printedpiece engraved by B. Wyon, coat of arms at top, black,red embossed seal, very fine to extremely fine. (16)

£300-400

424Liverpool Overhead Railway Company, a largegroup of certificates comprising ordinary shares (22),4 varieties dated 1895 through 1922, small vignette inmedallion in centre, red printing on blue/mauvepaper; 5% Perpetual Preference shares (49), 2 types,dates between 1893 and 1925, vignette of the citywith railway in foreground, black; 5% PerpetualPreference shares 1900 (8), dates between 1904 and1924, same vignette as the last but printed in red, allare cancelled with multiple mauve stamp and in mixedcondition, most with filing holes, fine to very fine. (79)

£200-300

425London, Brighton and South Coast Railway,consolidated stock certificate for £1000, 184[5], smallformat piece printed in black on blue paper, very fine.

£60-80



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426London, Worcester and South Wales RailwayCompany, £10 shares, 1870, no.3125, scrollwork toleft, black very fine;, together with Neath and BreconRailway Company, certificate of £10 share, 1863,no.2998, embossed seal bottom right, black, very fine,and Vale of Neath Railway Company, certificate of£20 share, 1846, no.8953, scrollwork at left, black onpale blue paper, red embossed paper seal, extremelyfine. (3)

£80-100

427Manx Northern Railway Co. Ltd., pair ofcertificates for £5 shares, 18[80], no.188, and 5%preference shares of £5, 188[0], both with vignette ofcompany seal, black printing, very fine. (2)

£150-180

A 161⁄2 mile line between Ramsay and Douglas on theIsle of Man, opened in 1879.

428Midland Railway Company, a collection ofcertificates comprising; £10 4% preference share,1878, 8 examples, blue; 2.5% debenture stock,191[6], no.68879, olive green; consolidated 2.5%perpetual guaranteed preferential stock, 19[15],no.31515, green, cancelled; consolidated 2.5%perpetual preference stock, [1912], no.93387, brown,cancelled, together with other documents (5)including application for £50,000 perpetual 5%debenture stock for the Somerset and Dorset RailwayCompanies extension to the Midland Railway, 1874and dividend warrants with cheques still attached, veryfine and better. (16)

£120-150

Incorporated in 1844 as the first major railwayamalgamation, involving the North Midland, MidlandCounties and the Birmingham and Derby JunctionRailways. Over several years many more railways werepurchased and it became a railway of outstandingimportance.

429A small collection of Midlands and North of EnglandRailways comprising Leeds and Thirsk RailwayCompany, one share, 1845, no.15434, black onvellum; Tees Valley Railway Company, a pair ofcertificates, £25 share, 1866, no.1221, black on yellowpaper, and £6 preference share, 1875, no.315, blackon grey paper; York and Carlisle and Durham,Westmorland & Lancashire Junction RailwayCompany, a pair of scrip certificates, for 1 and 5shares, undated but circa 1844, red and bluerespectively, Charnwood Forest Railway Company,£10 share, 1874, no.1720, scrollwork at left,embossed seal, black, together with £10 shares,18[82], no.250, scrollwork at left, black, differentdesign the last with slight edge damage otherwise veryfine to extremely fine. (7)

£150-180

The company was incorporated in 1845 to connect thetowns by rail. In 1851 the name was changed to the LeedsNorthern and it eventually passed over to the NorthEastern Railway.

430Navan & Kingscourt Railway Co., £10 share,18[71], vignette of seal top centre, black, embossedseal, generally extremely fine. (7)

£80-100

431Neath and Brecon Railway Co., certificates for £10share (3), 1866, numbers 12365, 12366 and 12367,black, green underprint, embossed seals, small chips inleft edges but otherwise extremely fine; together withsome good related documents (5) comprising Act ofParliament, 1869 relating to the Amalgamation andArrangement, 26 pages; printed letters related to theBill (2); a Petition against the scheme 1868-9, 6 pages,and, a report of the Directors, 1871, very fine. (8)

£100-150


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432Newcastle upon Tyne & Carlisle Rail Way Co.,preference shares, 185[7], very attractive piece withvignettes of countryside with towns in background,blue-grey printing on vellum, attached paper seal, goodvery fine and rare.

£800-1,000

433Newry, Warrenpoint & Rostrevor Railway Co.,one share, 1846, no.227, black printing, on waxedpaper, red paper seal at bottom depicting steamlocomotive, printed in Belfast, very fine.

£80-100

434Paisley Barrhead & Hurlet Railway, scrip certificatesfor 5 shares, 184[6], all dated by hand but not fullyissued, still with counterfoils, 10 examples; togetherwith unissued certificates for 5 shares, 184-, 7examples and 20 shares, 184-, 20 examples, generallyextremely fine. (37)

£100-150

435Rugby, Derby & Manchester Railway, a group ofscrip certificates for 5 shares (7), 10 shares (7) and 20shares (9), all dated 1845, blue, orange-brown andmauve respectively, top right corner cut away ascancellation, creased, fine to very fine. (23)

£80-100

436A group of Scottish railway certificates comprisingCaledonian Railway Company, certificate forScottish Central 41⁄2% preference stock no.1, 18[71],no.1003, blue; 6% preference stock, 18[74], no.5145,black; deferred ordinary stock no.1, [1906],no.17/5401, purple, other related documents; NorthBritish Railway Company, guaranteed stockcertificate, 18[63], scrollwork at left, black, repairedtears at top edge, 3% debenture stock certificate,18[99], scrollwork at left, red, and two dividendwarrants, good fine and very fine, mixed condition, fineto very fine. (12), and West Highland RailwayCompany, a proof certificate for £10 shares, 18[—],circa 1880, black printing, on thick card, extremelyfine. (14)

£120-150

437Shrewsbury and Hereford Railway Company, £20share, 1846, no.24801, attractive piece with vignetteof cattle in field with Castle in background, scrollworkat left, black, together with Shropshire RailwaysCompany, certificate for fully paid stock of theShrewsbury undertaking, 189[1], no.623, black,extremely fine and about very fine. (2)

£60-80

438Southern Railway Company, a group of fivecertificates comprising; £10 preference shares, 187[2],no.52, black on green paper; £10 shares, 186[5], no.1,black on orange paper; £10 preference shares, 187[3],no.6, black on pink paper; debenture B stock, [1881],embossed seal, black (5) and £10 Baronial Guaranteedshares, 187[915], black (3), about very fine toextremely fine. (12)

£150-200



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439Vale of Neath Railway Co., a group of 4 certificatesfor £20 share, 1846, black on grey paper, red seal, allextremely fine. (4)

£120-150

440Waterford, Dungarvan and Lismore Railway Co.,£10 shares, 187[4] or [5], 13 examples, together withguaranteed preferred shares of £10, mostly dated187[8], 30 examples, all with ornate border, mauve toblue printing, printed by Waterlow & Sons, stampedcancelled, generally very fine, a few better. (43)

£120-150

441An interesting group of Welsh Railway certificates,comprising Burry Port and Gwendreath Valley RailwayCo., £100 share, 186[6], no.925; Mid Wales RailwayCo., £10 share, 18[63], no.31790, with two otherexamples in poor condition; Bala & Festiniog RailwayCo., ordinary stock certificates (4), dated between18[91] and 18[97] and debenture stock, 18[85] and18[98]; Cambrian Railways Company, ordinary capitalno.1, 19[21] and No.2 4% preference stock, 18[99]and 18[901], and, Carmarthen and Cardigan RailwayCo., 5% debenture stock, 2 examples, both 18[79], allbut the first two are cancelled and in mixed condition,the first two extremely fine and very fine. (14)

£100-150

442Weymouth & Portland Railway Company,mortgage deed for [£1000], 18[64], no.2, largeformat, scrollwork at top, black, embossed revenuestamp, hole cancelled, reattached to counterfoil, veryfine and rare.

£80-100

443Weymouth & Portland Railway Company,mortgage deed for [£6400], 18[64], no.15, largeformat, scrollwork at top, black, embossed revenuestamp, hole cancelled, reattached to counterfoil, aboutvery fine and rare.

£80-100

444Weymouth & Portland Railway Company, anunissued mortgage deed, circa 1860, no.24, largeformat piece, black, with coupons attached at left, withcounterfoil, a little toned at edges but about extremelyfine and rare.

£80-100

445Wharfdale Railway Co., £15 share, 1846, no.20133,Craven heiffer in centre, black with very ornate blueunderprint, red embossed seal, some tone spots, goodvery fine.

£60-80

446Witney Railway Company, £10 share, 18[60],no.430, scrollwork at left, black, embossed seal, goodvery fine and scarce.

£60-80

SHIPPING AND SHIPBUILDING447British Shipping Companies; a duplicated lot ofcertificates of shipping, shipbuilding and dockcompanies (68) including Great Ship Co. Ltd., 1859;European and American Steam Shipping Co. Ltd.,1857 (2); Dundee, Perth & London Shipping Co.,various certificates dated 1868 to 1922, 3 types withvarieties (22); Western Counties Shipping Co. Ltd.;Hazelwood Shipping Co. Ltd.; White Star Line;Northumberland Shipbuilding Co., Cunard SteamShip Co. Ltd., and others, mixed condition, many fineand very fine. (68)

£150-250

448A collection of 20th Century shipping companies,comprising Lamport & Holt Ltd., 1920 and ElderDempster & Co. Ltd., 1922, both with vignette ofsteamship in centre; African Steam Ship Co., 1922;Anglo European Steamship Co. Ltd., 2 types, both1920; Royal Mail Steam Packet Co., 4 different types,1916, 1921, 1922 and 1928, all with vignette ofsteamship in left border; Gould Steamships &Industrials Ltd., 1920; Rodney Steamship Co. Ltd.,1945; Town Line (London) Ltd., 1920, and WesternCounties Shipping Co. Ltd., 2 types with differentcapital, both 1920, generally fine to very fine. (14)

£80-100



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449Elder Dempster and Co. Ltd., 51⁄2% cumulativepreference shares, 19[10], signed by Lord Pirie asdirector, capital £910,000, green; together with6% preference shares, 19[14], capital £3,635,000,green and pink; 6% preference shares, 19[23], capital£15,435,000, green and pink and 51⁄2% preferenceshares, 19[25], capital £15,435,000, red, all withvignette of steamship in centre, generally very fine, thefirst rare. (4)

£80-100

450Whitby and Robin Hood’s Bay Steam PacketCompany, certificates for 1 share, 1853, blackprinting, on vellum (9), later examples dated 1857,black on blue-grey paper (2), together with StaithesShipping Company, one share, 185[6], black (9), alittle discolouration on the vellum otherwise generallyvery fine. (20)

£100-150

BUSES AND TAXIS

451Birmingham General Omnibus Co. Ltd., £1ordinary shares, 18[97], no.172, scrollwork at left,blue-grey, embossed seal, good very fine.

£80-100

Formed in 1896 to amalgamate a few horse drawn busoperators in Birmingham. Acquired by British ElectricTraction company in 1899

452Metropolitan Saloon Omnibus Co. Ltd., a group of4 certificates for one share of £1, 185[7], no.1252,1287, 1289 and 1290, attractive vignette of horsedrawn bus with inside and outside passengers, black,about extremely fine. (4)

£150-200



MOTOR CARS AND CYCLES

Page 88

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453Alvis Limited, ordinary shares of 5/-, 19[46],no.22116, ornate border, blue and black, very fine.

£60-80

Founded in 1919 as T.G. John and Company Ltd.,making stationary engines, carburettors and motorscooters. Name changed to Alvis Car and EngineeringCompany Ltd. when the company built their first motorcar and they soon gained a reputation for quality andinnovative engineering. Name changed again to AlvisLtd in 1936 and the company added aviation andarmoured divisions at the outbreak of WWII. Roveracquired a controlling interest in 1965 but they couldnot improve the fortunes of the marque and productionceased by 1967.

454Aster Limited, £1 ordinary shares, 190[5], no.65,ornate border, green, red seal, very fine.

£60-80

English offshoot of the famous French Aster factory whichbuilt motor cars from the late 1890’s. Most famoushowever for its domination of the engine marketsupplying numerous companies in Europe.

455Iris Cars Limited, £1 ordinary shares, 19[07], no.14,scrollwork at left, black, good very fine.

£60-80

456Mercedes Company Ltd., bearer certificate for 5shares of £1, 19[04], no.1524, vignette of Mercedesracing car, ornate border, red and black, text inEnglish and French, with coupons, tiny split at foldsbut about very fine and scarce.

£350-400

457Motor Manufacturing Co. Ltd., £1 shares, 190[1],no.260, together with British Motor Traction Co.Ltd., £1 preference shares, 190[1], no.485, and adebenture for [10 shillings], 19[00], no.528, all in thename of J.H.Collinson of Ipswich, also with companyletterhead illustrated with several vehicles andenvelope, an interesting group, very fine. (3)

£180-200

458Motor Car and Cycle related group, comprisingStepney Spare Motor Wheel Ltd., 190[10], vignette ofcouple changing a tyre by the roadside, badly foxedwith edge tears; Parent Tyre Co. Ltd., 1915 to 1922, 6examples, 4 types; Partington Pneumatic Wheel Co.Ltd., 1908; New Amalgamated Tyre Co. Ltd., 1900;Indestructible Tyre Syndicate Ltd., 1914; Non-Collapsible Tye Co. Ltd., 1897; Marvelous MotorSignal Co. Ltd., 1921; Guernsey Motors Ltd.,192[31]; British Motor Trading Corporations Ltd.,1919; Cycle Manufacturers Tube Co. Ltd., 1896;British Internal Combustion Engines Ltd., 1919;Prince’s Garage (Bootle) Ltd., 1921; Blue Bird PetrolLtd., 1929, 3 examples, 2 types; Rapson AutomobilePatents Ltd., 1920, 2 examples; Motor PetrolAssociation Ltd., 1914; Motor Owners PetrolCombine Ltd., 1925, 4 examples, 2 types; PetrolUsers and Traders Supply Society Ltd., 1914; PetrolUsers Society Ltd., 1919; Automobile ConsolidatedAlliance Ltd., 1913; Morris, Russell & Co. Ltd., 1920,2 examples, and, Finton Motor Finance Co. Ltd, £50debentures, 1930 and 1933, a mixed condition lot,some with edge tears, generally fine to very fine. (33)

£150-200


Lot 456


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459Motor Car manufacturers: A small collection,comprising Cosmopolitan Cycle and Motor WorksLtd., 1898; British Motor Traction Co. Ltd., 1901;Singer & Co. Ltd., 1904; Straker Squire Ltd., 3 types,1918, 1919 and 1922; Harper Bean Ltd., 1921; Riley(Coventry) Ltd., 19[34]; Guy Motors Ltd., 1931;Karrier Motors Ltd., 1930; Triumph Co. Ltd., 1937;S.T.D.Motors Ltd., 2 types, both 1933, and CharronLtd., 1918, together with modern certificates ofRover, Rolls Royce, BMC and Leyland, mixedcondition but fine to very fine. (19)

£180-220

BANKS, INSURANCE AND FINANCE460Albert Life Assurance Company, a group ofdocuments and letters regarding the failure of this andassociated companies in 1869, including companyreports, documents detailing proposed reconstructionand letters from solicitors, an interesting group invaried condition.

£60-80

Like many companies in the 1860’s boom years the Albertstarted acquiring poor quality competitors but stilldeclaring large bonuses (to policyholders, not directors!)from funds that it did not have. Finally the collapse camewith £8 million of liabilities.

461English & French Bank Ltd., bearer share for £10,188[1], no.94514, vignette of allegorical figures withlion, shield and ship in background, black, withcoupons, together with 8 more banking certificatescomprising; Charles Laffitte & Co. Ltd., £20 share,1866, no.2074, black; London & Westminster BankLtd., £100 share, 18[89], no.40538, black with pinkunderprint; London County Westminster & Parr’sBank, £1 shares, 1919, no.39180, ornate border,green; National Provincial Bank Ltd., two pieces,£1 shares, both 19[62], no.148924 and 187906,ornate border and vignette of Bank building, greenand yellow; Westminster Bank Ltd., three pieces, £1shares, 19[30], no.113579, ornate border, green, Bshares of £1, 19[59] and £1 shares, 19[36], generallyvery fine. (9)

£50-60

462An historicaly important Lloyds Marine Insurancepolicy, in the sum of £50,000 to cover gold bullionbeing shipped from Vera Cruz to any port in England,1807, on H.M.S Diana under Captain Maling, issuedto Baring Brothers & Co., syndicate names andamounts endorsed at the bottom, 4 pages, black, onvellum, blue revenue stamps attached, very fine andvery rare.

£200-300

A strange situation indeed when Spain whilst at warwith England permits a British Naval vessel to collectsilver and gold bullion from its Mexican colony. H.M.S.Diana is said to have transported the largest ever bullionshipment insured by Lloyds throughout the war and wemust assume that this policy forms a part of that amountof £870,000. One writer in Latin American historysuggests that the bullion was destined for France by somesecret arrangements between governments and thatBarings and their correspondents Hope & Co., bankersin Amsterdam, sent secret agents to the region. Clearlymore research required.



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463London & Globe Finance Corporation Ltd., agroup of 3 certificates for £1 shares, 189[7] [8] and[9], all with facsimile signature of Whitaker Wright;together with other British companies related tofraudsters including Mrs Bull Ltd., 2/6d preferenceshares, facsimile signature of Horatio Bottomley;British Glass industries Ltd and British Window GlassCo. Ltd., both 19[20], both with facsimile signatureof Clarence Hatry; Photomaton Parent CorporationLtd., 10 shares, 19[28], 5 examples; City EquitableFire Insurance Co. Ltd., 1921 and British AmericaCorporation Ltd., 189[8], facsimile signature ofWhitaker Wright, also a group of Post War credits(43), Polytechnic Institution Ltd., £10 share, 1860and Cheltenham College, one share, 1881, mixedcondition but many fine and very fine. (58)

£80-100

464London & Manchester Equitable Loan Company,certificate for [5] shares, [£1] paid, 182[5], no.4421-4425, ornate heading, signed by two directors, goodvery fine and an early piece.

£80-100

465A nice group of attractive early insurance policies,comprising Union Fire Office, fire policy coveringcontents of house in London, 177[8], four claspedhands at top; Hand in Hand Insurance Office, policycovering house and contents in London, 18[01], largeformat, vignette of clasped hands at top; UnionSociety, fire policy on a house and contents inLondon, 18[06], very large piece with vignette ofallegorical figures; Suffolk and General CountryAmicable Fire Office, policy covering house inHarleston, [1822], no vignette; Westminster FireOffice, septennial policy covering property inMarylebone, London, 18[29], large format, vignetteof portcullis surmounted by Prince of Wales feathersand scrollwork, and, Norwich Union Fire InsuranceSociety, policy covering property in Norfolk, [1833],large format, large vignette with allegorical femals andcornucopia, generally very fine and an interesting lot.(6)

£150-200

MINING466Bwlchglas Mining Co. Ltd., £1 shares, 189[1],no.37, mauve, together with other British metalmining certificates comprising Cyffty Lead Mining Co.Ltd., £1 shares, 19[00], black on pink paper; MineraRagman Mining Co. Ltd., £5 shares, 18[63], black onblue paper (3); Ulverston Mining Co. Ltd., £20 share,1873, no.2181, black (2, one only fine), and HolyfordCopper Mining Co. Ltd., £1 shares, 186[4], black,generally very fine to extremely fine. (8)

£120-150

467Consolidated Kent Collieries Corporation Ltd.,bearer warrant for 50 shares of £1, 190[0], no.259,attractive piece with vignette of mine buildings alongthe Kent coast, ornate border, text in English andFrench, printed by Waterlow & Sons, with coupons,very fine to extremely fine.

£80-100

468Cumberland Lead Mines Ltd., a good group of 20certificates for £1 shares, dated 188[3] or 188[4],ornate border, scrollwork at left, black, generally veryfine. (20)

£300-400

469East Wheal Brothers Copper, Tin, Lead & SilverMining Co., 5 shares of £20, London 1835, no.457,orange brown printing on vellum, conditions of thecompany printed on the reverse, good very fine.

£60-80

470East Hony Mining Co. Ltd., £1 shares, 18[82],no.281, black, printed in London, very fine.

£60-80



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471Heath Petroleum Co. Ltd., 3 certificates for oneordinary share of £100 and 2 certificates for onepreference share of £100, all dated 189[1], lovelyvignette of oil tanks with ships at sea, red and blackrespectively, very fine and better. (5)

£100-120

472Loftus Iron Co. Ltd., a group of 8 certificates for£50 preference shares, 18[77], numbered 23 to 30,scrollwork at left, black, very fine. (8)

£80-100

Owners of iron mines at Loftus in North Yorkshire.

473Mounts Bay Consols Ltd., £1 shares, 188[3],no.1974, attractive black and yellow printing,embossed seal, very fine.

£60-80

474New South Caradon Mine, a series of documents(12) including company reports, call receipts andnotices, dates range from 1884 to 1895, mixedcondition, many fine and a scarce group. (12)

£100-120

A rather late example of a cost book mine which wasmore popular until the introduction of suitable companylegislation in the 1860’s.

475Owen Vean and Tregurtha Downs Mines Ltd., £1shares, 18[84], no.149, black, printed in London, veryfine.

£60-80

476Wheal Hony and Trelawny United Silver-LeadMining Co. Ltd., £2 shares, 18[82], no.524,attractive vignette of mine buildings within scrollworkat left, black, fine to very fine.

£80-100


Lot 471


SPORT AND ENTERTAINMENT

Page 92

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477All England Lawn Tennis Ground Ltd., a ‘B’debenture for £50, 1920, no.1540, large format,ornate blue border, black printing, 4 pages, good veryfine and very rare.

£150-200

Debenture issues have always been the way that theWimbledon Club and Championships have beenfinanced. Currently debentures are issued every fiveyears and those for 2016-2020 have been priced at£50,000 each! The terms of this debenture allowed theholder to receive tickets for each Championship up until1947. The debentures were drawn annually and whenredeemed the latter certificates were issued allowing theholder to keep receiving Championship tickets. This is thefirst time an original debenture has been offered for sale.Debenture Rights certificates are occassinally seen butare rare.

478All England Lawn Tennis Ground Ltd., certificateentitling the holder to obtain a seat at the WimbledonTennis Championships under the terms of the £50 ‘B’debenture, 19[23], blue, small tear at top, very fine.

£60-80

479A good collection of Club companies comprisingAtheneum, 1891; Harringay & West GreenConstitutional Club Ltd., 1909; TottenhamConstitutional Club Ltd., 1905; Sussex Masonic ClubLtd., 1915; New Brighton Conservative & UnionistClub Ltd., 1912; Mint Co-operative Club Ltd., 1906;Brighton Carlton Club Ltd., 1896; Brighton CountyClub Ltd., 1921; Garden Club Ltd., 1924; LiverpoolWaterloo Club Co. Ltd., 18[907]; Hertford ClubLtd., £10 debenture, 1934 and others (8), mainly fineto very fine, several scarce. (19)

£80-100

480Denham Golf Club Ltd., a group of 8 x 4%debentures for £10, 1910[1], black, 4 pages,embossed seal, good very fine. (8)

£120-150

Denham Golf Club was founded in 1910. The course waslaid out by Harry Colt and the existing 16th Centuryfarm buildings were converted into the clubhouse. At theClub’s request, a railway station called Denham GolfClub was opened in 1912. It continues to serve the Clubtoday.

481Liverpool Repertory Theatre Ltd., a group of 10first mortgage debentures for £50, 1921, large format,black, 4 pages, perforated cancelled, centre foldotherwise about extremely fine. (10)

£60-80

482New Brighton Tower & Recreation Co. Ltd., £1preference shares, 189[901], no.969, vignette oftower in scrollwork at left, black, slight damage to topleft corner; Morecambe Winter Gardens Co. Ltd., £1ordinary shares, 189[7], no.112, lovely vignette at topleft, blue, red seal, and, Wallasey Social Club andConcert Hall Co. Ltd., £5 shares, 187[3], no.438,black, red seal, generally very fine and better. (3)

£60-80



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483Olympia Ltd., £1 shares, 12/6d paid, 189[5],no.1354, ornate border, blue, red paper seal, printedby Waterlow & Sons, about very fine.

£60-80

Opened in Kensington, West London 1884 as theNational Agricultural Hall but changed its name in1886 when the Paris Hippodrome was first staged there.Many other shows put on and since 1905 has been avenue for major exhibitions, such as the Motor Show,International Horse Show, Ideal Home Exhibition andCruft’s Dog Show. Joseph Lyons later Sir Joseph was amajor caterer for such events and was a director of thecompany. He became best known for his Lyons CornerHouses which dominated British streets until the 1950’s.

HOTELS, BREWERIES,FOOD AND DRINK

484Hotels and Breweries: An accumulation comprising+Eversfield Hotel Co. Ltd., St.Leonards on Sea, £10share, 188[5]; Margate Hotel Co. Ltd., £5 ordinaryshares, 1890; Bournemouth HydropathicEstablishment Ltd., 1916; Fort Paragon Hotel Ltd.,preference shares, 1909; Hans Crescent Hotel Co.Ltd., 1935, corner cut off; Hotel Belgravia Ltd., 1925and 1926; W.B.Mew, Langton & Co. Ltd., £100debenture, 1889; Bent’s Brewery Co. Ltd., 1880’sand 90’s, 2 types, 10 examples, all cancelled; OldfieldBrewery Ltd., debenture stock, 1920’s, 3 examples, allcut cancelled, and others (2), fine to very fine. (23)

£100-120

485Victoria Wine Co. Ltd., £1 preference shares,192[8], no.1770, large format piece with ornateborders, blue and black, heavy folds, fine but rare.

£60-80

COMMERCIAL AND INDUSTRIAL486An accumulation of British certificates, includingthe Royal Scotch Arms Hotel and Restaurant Co. Ltd.,18[77], no. 2, vignette of Hotel in centre; Wear SteelCo., 18[89]; San Feliciano Iron Ore Co. Ltd., 18[88];National Steam Coal Co., 188[5]; EdinburghEmployers’ Liability & General Assurance Co. Ltd.,[1888], 2 examples; Sheffield Sports Stadium Ltd.,19[55] and Abdulla & Co. Ltd., 19[55], cigarettemanufacturer, other certificates and paperwork (39),many modern and Roumanian fractional certificates1934 (14), many fine and very fine. (61)

£120-150

487A & F. Pears Limited, preferred ordinary shares of£1, 19[38], no.3500 and 19[47], no.3552, veryattractive piece with vignette of the company’sOrchard Works and Lanadron Works, their retailpremises in Oxford Street, London, the coats of armsof the King and Queen, blue, printed by Waterlow &Sons, stamped CANCELLED, about very fine and veryfine. (2)

£60-80

The company has it’s origins in the early 19th century,producing it’s now famous soap. Probably most famousfor the use of the painting ‘Bubbles’ by Millais in it’sextensive advertising campaign of the 1890’s. Acquiredby Unilever.



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488Beyer, Peacock & Co. (1902), Ltd., a specimencertificate for 50 ordinary shares of £1, 190-, from theBradbury, Wilkinson & Co. archive, locomotive incentre with 4-4-4 configuration, ornate border,orange and black, numbered E000, with coupons,extremely fine.

£80-100

489Carnival Cigarette Co. Ltd., 1 shilling shares,19[24], no.233, vignette of female smoking at top,‘The Joy Smoke’ below, ornate border, black, aboutvery fine and scarce.

£60-80

490Cassio Limited, a collection of seven certificatescomprising 10/- preference shares, 19(18), no.104,ornate border, red; 10/- ordinary shares, 19(18),no.221, ornate border, blue; Second mortgagedebenture for £100, 1918; Fourth mortgagedebenture for £100, 1918, and, 3 different bonuscertificates relating to First mortgage debentures, also1918, generally very fine. (7)

£60-80

Registered in 1917 as a manufacturer of photographicpaper but a receiver had been appointed by 1922. A newcompany, Cassio Photograpic Paper Co. Ltd., wasformed from the ashes to continue the business and waseventually acquired by Ilford in the 1960’s.

491Electric Organ Co. Ltd., 6% cumulative preferenceshares of £1, 189[5], no.15, ornate border andscrollwork at left, red, rust mark in centre, very fineand scarce.

£50-60

Formed in 1895 to acquire the Hope Jones ElectricOrgan Company in London but had failed by 1899.

492Electric Telegraph Company of Ireland, 2certificates for 5 shares of £1, 1852, together withTelephone Construction Co. Ltd., £1 shares, 1899;National Telephone Co. Ltd., 1897, this with top leftcorner missing and heavily endorsed in red, and EdisonBell Ltd., £1 ordinary shares, 1928, red, the first twoextremely fine, the remainder fine to very fine. (5)

£80-100

493Elmore’s Patent Copper Depositing Co. Ltd., agroup of certificates for £2 ordinary shares, datesranging from 1889-1893 (15 examples), black;together with Elmore’s Wire Manufacturing Co.Ltd., £2 ordinary shares, dates from 1890 to 1894 (6examples), blue, generally very fine. (21)

£60-80

494Globe Ironworks (Thame) Limited, a group of 30debentures for £25 each, 1900, black, 4 pages, folds,good very fine. (30)

£150-180

495Gramophones and Records;, a group of certificatescomprising Melograph Disc Record Co. Ltd., 1907,rare, not seen by the cataloguer; Orchorsol SoundReproduction Ltd., 1930; Orchorsol GramophonesLtd., 1929 (2); Worldecho Records Ltd., 1928 (2)and 1929 (3); Victoria Gramophones Ltd., 1928 and1929 (3); Symphony Gramophone & Radio (Foreign)Ltd., 1929; Dominion Gramophone Records Ltd.,1929 and Duophone and Unbreakable Record Co.Ltd., 1928 (2), mixed condition lot but mostly fine toabout very fine. (17)

£80-100



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496Grand Junction Water Works, £50 ‘additional’share, 18[17], no.3547, black printing, on vellum, redpaper seal at lower left, minor discolouration of vellumas is usual, good very fine.

£80-100

497Hammersmith Bridge Company, one share, [1824],no.1203, ornate scrollwork at left, large hexagonalpaper seal at bottom left depicting the bridge spanningthe Thames, black on vellum, vellum slightly yellowed,good very fine.

£150-180

498A useful early group of Iron and Steel companiescomprising Saville Street Foundry & Engineering Co.Ltd., 187[3], small vignette of furnace at left, 4examples; Rossendale Union Foundry Co. Ltd.,186[1], 4 examples; Edwin Round & Son Ltd., 1875,3 examples; William Barningham & Co. Ltd.,Pendleton Iron Works, 1874, 11 examples; StandardIron & Steel Co. Ltd., 187[7], 7 examples; NewDirect Process Steel Co. Ltd., 18[86]; Bull’s Iron &Steel (Sheffield) Co. Ltd., 188[6]; Bull’s Iron andSteel Co. Ltd., 188[6], and, West Cumberland Iron &Steel Co. Ltd., 1872, generally very fine and better.(33)

£100-120

499John Rigby & Co. (Gunmakers) Ltd., £10 shares,190[32], no.26, ornate border, grey with yellowunderprint, very fine and scarce.

£50-60

Established c. 1775, Rigby is the third-oldest gunmakingcompany in the world. Famous in the 18th and early19th centuries for its dueling pistols, fowling pieces,blunderbusses and long-distance match rifles. Laterteamed with Mauser to build and distribute their gunsin England and the colonies. The company was soldoutside the family in the 1960’s and with brief Americanownership it has now settled back in London.

500Liverpool Sugar Refinery Co. Ltd., £20 shares,186[71], no.82, coat of arms at top, scrollwork left,black; together with other Liverpool companiescomprising Liverpool Racquet Club, 1 share, undatedbut circa 1880, 3 examples; Liverpool Art ClubBuildings Co. Ltd., £10 shares, 188[93], 3 examples;Liverpool & Manchester Trading Company Ltd., £10shares, 18[76], and, Liverpool & District PublicHouse Trust Co. Ltd., £1 ordinary shares, 190[2],generally very fine and better. (9)

£100-120

501Tattersalls (of New York) Ltd., £5 ordinary shares,189[0], no.34, horses head at top centre, scrollwork atleft, black, very fine.

£100-120

502West Middlesex Water Works, a group of 3certificates for one £100 share, 1813, numbers 3272,3273 and 3275, all issued to George Grote (ofLondon banking firm Prescot, Grote & Co.),attractive black printing, on vellum, red seals attachedat left, very fine. (3)

£150-180



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LATIN AMERICA

ARGENTINA

505Province of Buenos Aires, 41⁄2% Exterior GoldLoan, 1910, bond for 500 francs, no.33627, datedParis 1911, large format, ornate border, brown withblue underprint, text in French and Spanish, withcoupons, fine to very fine and scarce.

£60-80

506Province of Bueos Aires, 3% External Loan, 1936,pair of specimen bonds for $100 and $500, allegoricalfigures at top, ornate borders, brown and redrespectively, printed by the American Bank Note Co.,numbered 00000 and overprinted SPECIMEN in red,with coupons, very fine to extremely fine. (2)

£150-180


503Argentine Republic 41⁄2% External ConversionLoan, 1936, a pair of specimen bonds for $500 and$1000, Argentine arms at top flanked by allegoricalfigures, orange and green respectively, printed by theAmerican Bank Note Co., numbered 00000 andoverprinted SPECIMEN in red, with coupons, tri-folded but about extremely fine and rare. (2)

£150-180

504Province of Buenos Aires, 41⁄2% Loan, 1910, bondfor 1020 marks or £50, no.17596, large format piecewith allegorical figures at top, brown and green,printed in Berlin, lacks coupons or talon, very fine andrare.

£80-100


97

507Province of Santa Fé: Northern ColoniesExtensions Railway of Santa Fé, 5% mortgage bondfor £100, a specimen certificate from the Bradbury,Wilkinson & Co. archives, large format, arms at top,black, pink underprint, small piece missing fromextreme left edge not affecting design, otherwise nearlyextremely fine and rare

£100-120

BOLIVIA508Republic of Bolivia, 6% Loan, 1872, a group of 5bonds for £100 each, numbers 6676 to 6680, largeformat, ornate black printing, each with theirrespective balance certificates, generally very fine.(5+5)

£120-150

509Republic of Bolivia, 7% External Loan, 1928, bondfor $1000, no.10523, Bolivian arms at top flanked byallegorical figures, blue and black, printed by theAmerican Bank Note Co., endorsement on face dated1962, with coupons, very fine and rare. Not cancelled.

£80-100

510Compañia San Vincente de Bolivia, certificate forone share of 1000 bolivianos, 1887, no.24, ornateborder, vignettes of workers in mine shaft, maroonand black with green underprint, together with fourmore Bolivian certificates comprising; EmpresaMinera “La Confianza”, 50 boliviano shares, 1904,no.126, blue and yellow; Credito Hipotecario deBolivia, three pieces, 1[909], 18[96] and 19[30], allwith ornate borders and vignettes of livestock andfemale figures, the first green, latter two brown, allextremely fine. (5)

£60-80



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BRAZIL

511Empire of Brazil, 5% Loan of 1886, a specimenbond for £100 from the Bradbury, Wilkinson & Co.archive, large format piece with Brazilian arms at top,ornate border, text in English and French, numbered00000, with coupons, extremely fine and extremelyrare.

£150-180

We believe only one example of this denomination wasfound in the archive.

512United States of Brazil, 5% Loan of 1895, aspecimen bond for £100 from the Bradbury,Wilkinson & Co. archive, large format piece withornate border, Brazilian arms at top, green and black,with coupons, overprinted specimen in red, annotated‘passed by N.M.Rothschild’ at bottom right, good veryfine.

£80-100


Lot 512

513Brazil: 5% Loan 1908, bond for 500 francs, largeformat, two vignettes of steam trains at top, blue andblack, with coupons, has been trimmed, very fine;together with State of the Amazon, 5% Loan, 1906,bond for 500 francs, ornate border with large vignetteof river scene, green, with coupons, and State of Bahia,5% Loan, 1910, bond for 500 francs (2 examples),black with green underprint, all with coupons,generally very fine. (4)

£60-80

514United States of Brazil, 5% Funding Loan, 1914,bond for £20, no.109217, countersigned byN.M.Rothschild & Sons, large format, arms at top,brown and black, with 3 cancelled coupons attacheddated 1942 but the bond is unassented anduncancelled, very fine and scarce.

£80-100


99

515State of Bahia. 1913 5% Gold Loan, bond for £20,no.00567, steamship at dockside, blue and black,printed by Bradbury, Wilkinson & Co., unassented toeither Plan A or B and with original coupons, very fineand very rare.

£80-100

516State of Minas Geraes, 61⁄2% 30-Year ExternalSterling Loan of 1928, a specimen bond for £1000from the Bradbury, Wilkinson & Co. archives, largeformat piece with State coat of arms at top, blue andblack, red circular Bradbury specimen stamp, withcoupons, extremely fine

£100-120



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517State of Rio Grande do Sul, 6% Loan, 1919, aspecimen bond for 500 francs, printed by theAmerican Bank Note Co., arms top left, allegoricalfemales look over docks and warehouses, blue andbrown, with coupons, overprinted SPECIMEN in red,extremely fine.

£120-150

518Madeira-Mamore Railway Co., 51⁄2% 60-year FirstMortgage Bond for £100, 1910, large format piece,printed by Waterlow, steam train at top, green andblack, with coupons; together with San Luis (Mexico)Tramways Ltd., £100 debenture, 19[13], largeformat, electric tram at top, blue and black, withcoupons; Manaos Tramways & Light Co. Ltd., £100debenture, 1909, electric tram at top, blue and black,with coupons; Mexican Pacific Railway Ltd.,debenture for £100, 18[89], eagle at top (2examples); Brazil Railway Company, 41⁄2% FirstMortgage gold bond for £20, 1909, steam train attop, and, Mexico North Western Railway Co., 10shares, [1910], generally very fine and better. (7)

£150-180

519Port of Para, 5% First Mortgage Gold bond for £20,1907, very large format piece with panoramic vignetteof the Port, green and black, printed by Waterlow &Sons; together with later 5% loan for 500 francs, 1909,two examples with different printer’s imprints, largevignettes of the port, mauve and black, and bearerwarrants for ordinary shares (2, different) andpreference shares (3), printed by Waterlow & Sons, allwith coupons, generally very fine and better. (8)

£100-150

CHILE

520Chilian Government, 5% Loan, 1911, a specimenbond for £1000 from the Bradbury, Wilkinson & Co.archive, Chilian arms at top and in underprint below,red and black, text in German and English, withcoupons, numbered 00000 with range 90051 to90550 printed in top margin, good very fine.

£120-150

521El Banco Chileno Garantizador de Valores del Sur,a proof 6% bond for 1000 pesos, circa 1880, printedby the New York Bank Note Company, steam train attop, allegorical figures below, blue and black, on thinIndia paper, with coupons, good very fine and rare.

£120-150



101

COSTA RICA

522Consolidated External Debt of Costa Rica, 5%Loan, 1886, bond for £100, no.01340, large formatpiece with coat of arms at top, black with blue ‘£100’in underprint, text all in English, no coupons, notcancelled, removed from a frame, a little faded andtoned, somewhat brittle but about very fine and veryrare.

£120-150

523Costa Rica Railway Company Ltd., a group of FirstMortgage debentures for £100 (14), 188[7], plus oneSecond debenture for £100, 188[9], vignette ofBernardo Soto in centre, ornate borders, black withblue or pink underprint respectively, generally very fineand better. (15)

£80-120

CUBA524Compania del Ferro-Carril Cienfuegos y Villa-Clara, 8% bond, 1000 pesos, 1889, no.317, largeformat piece with steam train at bottom, Cuban armsat top, green and black, with coupons, folds, lightlytoned overall but about very fine.

£100-120

Lot 524

525Cuba Northern Railways Company, First Mortgage51⁄2% gold bond, $1000, 1927, no.M13847, engineerwith locomotive in centre, wagon load of sugar cane toleft, loading railroad trucks to right, orange and black,endorsement on face showing reduction in principal to$635, with coupons, small split at folds, very fine.

£80-100



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526Banco Nacional de Cuba, a group of 10 certificatesfor $100 shares, all issued to Zarifi & Co. and all dated191[9], allegorical female at left, steamship at right,orange and black, text in Spanish and English,attached in two groups of 5 certificates by contemporaryrivets, generally very fine. (10)

£150-200

527Compania Cervecera Internacional S.A., a goodcollection of certificates from this large Brewerycomprising certificate for common shares, 19[23],no.593 and certificate for unique shares, 19[25],no.1653, both with same design with large brewery incentre, ornate border, brown and orange respectively;7% bond, 1915, $500, ornate border with allegoricalfigures flanking title, orange and black, text in Spanishand English, no coupons, and, 6% bond for $100,1928, brewery at top, blue and black, the lastsomewhat brittle with cracked edges, the remainder withsome toning but very fine. (4)

£100-150

528Havana Biltmore Yacht and Country Club, 1000peso share, Havana [1928], no.167, ornate border,green and black, very fine and scarce.

£60-80

Built in 1928 with the first spade cut being made byPresident Machado and the second by the mayor of NewYork who was holidaying there at the time. Opened to theelite of Havana to cater for golf, tennis and of courseyachting. Taken over by the Government at the time ofthe revoloution. Now known as the Club Havana.

529Sanitary Dungcart Company, 100 peso shares,Havana 191[3], no.3061-70, vignette of horse-drawncart at top, dung cart at bottom, ornate border, blueand red, red seal, pale blue underprint, good very fine.

£60-80

530Pair of Cuban Tennis Club certificates:, VedadoTennis Club, 3% bond, 1919, $100, no.3433, ornateborder, club flag top left, blue and black, withcoupons; Lawn Tennis Club, 3% bond, 1916, 100pesos, no.262, Club flag at top, ornate border, blueand black, with coupons, both very fine. (2)

£60-80



103

DOMINICAN REPUBLIC

531Dominican Republic, 5% Loan, 1918, a specimenbond for $50 printed by the American Bank NoteCompany, allegorical figures flank coat of arms, olivegreen and black, text in English and Spanish, withcoupons, overprinted SPECIMEN in red, extremelyfine and scarce.

£80-100

ECUADOR

532Compania de Ferrocarril y Obras Publicas deGuayaquil, a specimen certificate for 500 sucre share,Guayaquil 1888, steam train at top, green and black,overprinted SPECIMEN over signature areas, withcounterfoil, almost extremely fine.

£120-150

533Guayaquil and Quito Railway Co., a series of noninterest bearing certificates for $100 (2), $500 (2) and$1000 (3), Jersey City 1909, large format, green, blueand red respectively, generally fine to very fine, the lastrare with only 200 issued. (7)

£80-100Certificates issued at the rate of $100 for each $1000bond of the company as compensation for loss of interest.Surplus earnings were to be sent to the Corporation ofForeign Bondholders for distribution to certificateholders.

EL SALVADOR534Republic of El Salvador, 3% External Sinking FundSterling Loan of 1946, a pair of specimen bonds for£20 and £50 from the Bradbury, Wilkinson & Co.archive, very large format piece with arms of ElSalvador at top, ornate border, pink and bluerespectively, text all in English, with coupons,overprinted SPECIMEN in red, top left corner a littlecrinkled on the £50 otherwise about extremely fine. (2)

£100-150

GUATEMALA

535International Railways of Central America, 5% FirstMortgage Gold Loan, 1912, unissued bond for £20 or505 francs, large format, steam train at dockside, redand black, printed by Waterlow & Sons, no coupons,removed from a frame, a little faded and a little brittlebut very fine and rare.

£120-150



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HAITI

536Banque Nationale de Saint-Domingue (BancoNacional de Santo Domingo), a group of 7 foundersshares, Paris 1889, ornate border of dockside scenes,native village, steamship and steam train, coat of armsat top, green, brown and black, text in French andSpanish, with coupons, nearly extremely fine. (7)

£240-280

A French bank providing central banking services toHaiti (Saint Domingo) such as note and coin issue. Thecompany failed in the 1890’s

MEXICO537United States of Mexico, 5% Interior Loan, $500or £100, 1898, allegorical figures at top and bottom,green and black, with coupons, printed by Waterlow,together with Institution for Encouragement ofIrrigation Works and Development of Agriculture, 35-Year 4½% Gold Loan, 3 bonds for $100, 1908, largeformat, Mexican eagle at top, horse and plough to theright, dam to the left, ornate borders, green, withcoupons, and Mancuso & Rossi, 20 shares of 100pesos, 1960, very fine and better. (5)

£80-100

538Institution for Encouragement of IrrigationWorks and Development of Agriculture, 35-Year41⁄2% Gold Loan, a set of bonds for $100, $500 and$1000, 1908, large format, Mexican eagle at top,horse and plough to the right, dam to the left, ornateborders, green, orange and olive respectively, withcoupons, very fine or nearly so. (3)

£80-100

539Mexican Central Railway Securities Co. Ltd., 4%‘A’ debenture for £100, 18[99], no.2913, largeformat piece with ornate border, red and black, withcoupons, very fine and scarce.

£60-80

Company formed to acquire securities issued by theMexican Central Railway Co. Ltd., an Americancorporation.

540Mexican Central Railway Securities Co. Ltd., ‘B’debenture for £100, 18[99], no.13344, ornateborder, green and black, with coupons, together withCia Minera Nacional Anonima El Callao, a group ofcertificates for 1 share (2) and 5 shares (10), 1887,ornate border with coats of arms at sides, miners atwork at top, with coupons, a cancelled £20 bond ofthe City of Vilna Conversion loan of 1931, and aRoumanian bond, 41⁄2% 1934, 1200 francs, very fine toextremely fine. (15)

£60-80



105

541Mexican Southern Railway Ltd., ordinary stock,19[12], black, printed by Waterlow; together withother Mexican certificates (20) and British companiesoperating in Mexico (21), dating from the late 19thcentury to 1949, mixed condition but many fine and afew very fine. (42)

£80-100

542National Railways of Mexico (FerrocarrilesNacionales de Mexico), a group of First Preferredstock certificates comprising 10 shares, [1909],Morton Trust Company (40), 10 shares, [1910] to[1923], Guaranty Trust Company (45), Less than 100shares, [1909], Morton Trust Company (8), all withportrait of Diaz in centre, olive green, with coupons,the last group only fine to very fine, the rest mixed butmost very fine and better. (93)

£200-300

543National Railways of Mexico (FerrocarrilesNacionales de Mexico), a group of Second PreferredNominative stock certificates comprising 10 shares,[1909], Morton Trust Company (22), [1910],overprinted Guaranty Trust Company (5), and[1910], Guaranty Trust Company (22), all withportrait of Diaz in centre, green, with coupons, mostvery fine and better. (49)

£120-150

544National Railways of Mexico (FerrocarrilesNacionales de Mexico), a group of Second PreferredNominative stock certificates, all [1909], MortonTrust Company, for ‘less than 100 shares’, printed‘two shares’ (10) and ‘four shares’ (60), with portraitof Diaz in centre, green, with coupons, generally veryfine and better. (70)

£150-200

545San Luis (Mexico) Tramways Limited, pair of FirstMortgage debentures for £20, no.B407 and £100,no.A1227, large format with vignette of electric tramat top, ornate borders, brown and black and blue andblack, with coupons, good very fine. (2)

£80-100

546Tehuantepec National Railway Company, 5% Loan,1905, bond for £500, no.23264, ornate border,mauve and black, text in Spanish, German andEnglish, with coupons; together with 41⁄2% Gold Loan,1909, bond for £20, no.00914, green and black, withcoupons, both very fine, the first scarce. (2)

£60-80

547Banco de Durango, S.A., $100 share, Durango1904, no.13495, attractive piece with the bankbuildings in centre, ornate border, brown and black,with coupons, extremely fine.

£60-80

548Banco de Zacatecas S.A., 100 peso shares, Zacatecas1891, no.2842, vignette at top left of panoramic townview, black, impressed revenue stamp, extremely fine.

£60-80


Lot 545


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549Banco Internacional é Hipotecario de México, 1share of 100 pesos, [1890], no.11354, very attractivepiece in both Spanish and English, Mexican andAmerican eagles at top, allegorical female and nativeAmerican at either side, green and black, printed byABNCo., with coupons, small split at fold at left edge,very fine and rare

£200-300

550Banco Internacional é Hipotecario de México, 1share of 100 pesos, [1890], no.11357, very attractivepiece in both Spanish and English, Mexican andAmerican eagles at top, allegorical female and nativeAmerican at either side, green and black, printed byABNCo., with coupons, tears at left and bottom edges,fine to very fine and rare

£150-200

551Real Del Monte Mining Company, certificate forsubscription to one half share, 1829, no.1254,interesting 4 page document, with all instalments paid,black, several embossed duty stamps, tiny splits atfolds, very fine

£120-150

The region of Real del Monte or Mineral del Monte wasknown since Spanish Colonial days and was located inHidalgo. The English revived the mines bringing over350 Cornish miners to the region with new technology toopen and drain the mines, operating them until 1848.

PERU552Republic of Peru, 5% Internal Loan, 1940, a groupof three specimen bonds for 500 soles, from theAmerican Bank Note Co. archives, series A, series Band series D, all dated 1944 but with differing dates ofamortisation, coat of arms at top, ornate borders, blue,orange and green respectively, all numbered 00000and overprinted SPECIMEN in red, with coupons, trifolded but about extremely fine. (3)

£200-250

POYAIS

553Poyais, General Mortgage Loan of £200,000, £100special bond, 1823, no.123, signed by MajorWilliam John Richardson, MacGregor’s Charged’Affaires in London, large format, black and blueprinting by Whiting with classic scrollwork design attop, coupons at either side, with attached certificaterelating to the New Grant of Land dated 1837allowing the bondholder to participate in profitsarising, folds with small splits at intersections, very fineand rare with 1837 certificate attached.

£150-180

554Poyais, General Mortgage Loan of £200,000, £100special bond, 1823, no.1555, signed by MajorWilliam John Richardson, MacGregor’s Charged’Affaires in London, large format, black and blueprinting by Whiting with classic scrollwork design attop, coupons at either side, with attached certificaterelating to the New Grant of Land dated 1837allowing the bondholder to participate in profitsarising, folds with some splits, tape repairs on reverse, fineand rare with 1837 certificate attached.

£120-150



107

PUERTO RICO

555Puerto Rico, National Treasury, 6% Loan for 25pesos, 1813, no.149, ornate border, arms at top,black, several hand signatures of officials, extremelyfine.

£250-300

Issued during the turbulent period where some of themainland Spanish Colonies were gaining Indpendence.The Spanish Government instituted political andconstitutional reforms on the Island in reply to calls forindependence and the Puerto Rican peso was created bythen Governor Salvador Meléndez Bruna.

URUGUAY

556Oriental Republic of Uruguay, 1892 31⁄2%Consolidated Debt, bond for £20, no.121890, largeformat, coat of arms at top, allegorical figures inborders, blue and black, text in English and Spanish,printed by Bradbury, Wilkinson & Co., stamped withmodified terms of 1939, with replacement coupons,stamped CANCELLED, fine to very fine and scarce.

£80-100

557Oriental Republic of Uruguay, 1892 31⁄2%Consolidated Debt, bond for £100, no.046341,large format, coat of arms at top, allegorical figures inborders, green and black, text in English and Spanish,printed by Bradbury, Wilkinson & Co., stamped withmodified terms of 1939, with coupons, stampedCANCELLED, very fine and scarce.

£80-100

558Oriental Republic of Uruguay, 1892 31⁄2%Consolidated Debt, bond for £100, no.099739,large format, coat of arms at top, allegorical figures inborders, green and black, text in English and Spanish,printed by Bradbury, Wilkinson & Co., stamped with1939 modified terms, with replacement coupons,stamped CANCELLED, fine to very fine and scarce.

£80-100



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559Oriental Republic of Uruguay, Consolidated 31⁄2%Debt, 1892, bond for £100, no.21006, large formatpiece with allegorical figures around border, text inEnglish and Spanish, with coupons from 1936 to1942, black, blue underprint, printed by Bradbury,Wilkinson & Co., unassented, uncancelled, very fineand very rare.

£200-250

This loan was reorganised in 1939 and bonds stampedwith the new arrangements. This piece missed the processand no interest was claimed since 1936 as the bond wasprobably mislaid. Assented bonds were still quoted in the1980’s on the London Stock Exchange and paid off in1990.

560Republic of Uruguay, 1919, 5% External GoldLoan, bond for £20, no.16189, dated 1920, largeformat piece with coat of arms at top, ornate border,red and black, text in English and Spanish, printed byWaterlow & Sons, stamped ‘ASSENTED BOND’ onface, hole cancelled, with one coupon remaining, tearat top right corner, fine to very fine and rare.

£100-120

561Republic of Uruguay, 4% External Loan, 1937,pair of specimen bonds for $500 and $1000 from theAmerican Bank Note Company archive, arms in centreflanked by allegorical figures, orange and redrespectively, numbered 00000 and overprintedSPECIMEN in blue, tri-folded, about extremely fineand rare. (2)

£150-180


Lot 560

Lot 561


109

VENEZUELA

562Venezuela Company, £200 shares, 18[69], no.1037,lovely vignette of the Venezuelan countryside, black,printed in New York, red underprint $80,000,000,with coupons, very fine.

£100-150

The company acquired the Henry M Price Land Grantin Venezuela with the object of settling Confederatefamilies following the Civil War. Several sailings tookplace from 1866 but the venture failed in 1868. Formore information please see Confederate Exiles inVenezuela by Alfred and Kathryn Hanna, University ofTexas, 1960.

RUSSIA

STATE LOANS

5631822, 5% ‘Rothschild’ loan, bond for 720 roubles or£111, handsigned by Nathan Meyer Rothschild asContractor, double headed eagle at top, black, onpoor quality paper, with talon, a few folds but very finefor issue.

£120-150

5641822, 5% ‘Rothschild’ loan, bond for 720 roubles or£111, handsigned by Nathan Meyer Rothschild asContractor, double headed eagle at top, black, onpoor quality paper, with talon, a few folds but very finefor issue.

£120-150

5651822, 5% ‘Rothschild’ loan, a group of bonds for720 roubles or £111 (4), handsigned by NathanMeyer Rothschild as Contractor, double headedeagle at top, black, on poor quality paper, with talons,all with folds and some tape repairs, fair to about fine.(4)

£300-400

5661822, 5% ‘Rothschild’ loan, bond for 960 roubles or£148, handsigned by Nathan Meyer Rothschild asContractor, double headed eagle at top, black, onpoor quality paper, with talon, a few folds but aboutvery fine for issue.

£120-150


Lot 563


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5671822, 5% ‘Rothschild’ loan, a group of bonds for960 roubles or £148 (6), handsigned by NathanMeyer Rothschild as Contractor, double headedeagle at top, black, on poor quality paper, with talons,mostly split along folds a couple completely separated,some tape repairs, poor to fair. (6)

£400-500

5681822, 5% ‘Rothschild’ loan, bond for 3360 roublesor £518, handsigned by Nathan Meyer Rothschildas Contractor, double headed eagle at top, black, onpoor quality paper, with talon, split at folds with sometape repairs, linen backed, fair and a scarcedenomination

£120-150

5691822, 5% ‘Rothschild’ loan, bond for 3360 roublesor £518, handsigned by Nathan Meyer Rothschildas Contractor, double headed eagle at top, black, onpoor quality paper, with talon, split at folds, raggedbottom and right edges, about fine for this issue, a goodbold signature and a scarce denomination.

£200-300

5701822, 5% ‘Rothschild’ loan, bond for 3360 roublesor £518, handsigned by Nathan Meyer Rothschildas Contractor, double headed eagle at top, black, onpoor quality paper, with talon, split at folds, two tearsat top edge, fine and a scarce denomination

£200-300


Lot 568 Lot 569

Lot 570


111

571Imperial Russian 3% Loan of 1859, a group of 9bonds for £100, Russian eagle at top, black and blue,English on reverse, 2 with coupons, 7 without, plusone sheet of coupons for another bond number,generally very fine. (9)

£80-100

572Imperial Russian 3% Loan of 1859, bond for£1000, no.74200, Russian eagle at top, black andpink, English on reverse, lacks coupons or talon,creased, some paper loss at top edge just outside thedesign, fine and rare.

£200-300

573Imperial Russian 3% Loan of 1859, bond for£1000, no.74164, Russian eagle at top, black andpink, English on reverse, lacks coupons or talon,creased, some paper loss at top edge just outside thedesign, fine and rare.

£200-300

574Imperial Russian 3% Loan of 1859, bond for£1000, Russian eagle at top, black and pink, Englishon reverse, lacks coupons or talon, glue residue on thereverse otherwise very fine and rare high denomination,together with other Russian bonds (16) including Soc.du Credit Immobilier de la Ville d’Odessa andCommercial Bank of Siberia, mainly fine to very fine,some better. (17)

£300-400

5751894 4% Rente, a group of 3 bonds each for 5000roubles, first replacement certificates, ornate border,grey and black with multicoloured ‘5000’ in centre,with talon, fine and scarce high denomination. (3)

£100-150

576Russian 5% State Loan, 1906, a large group ofbonds of various series comprising 500 francs (2), blueand yellow, both with Spanish duty stamps and lackingcoupons, 2500 francs (30), blue and 5000 francs(125), blue and pink, all with coupons, mixedcondition but many are very fine and extremely fine.(157)

£300-400

577Russian 5% State Loan of 1906, a large group ofbonds comprising 5000 francs (46), 2500 francs (92)and 500 francs (48), pink, blue and grey respectively,ornate borders, various series, all overprinted in redand countersigned by Baring Brothers as agents, mostwith Barings receipt for talon, a few with coupons,mixed condition but an interesting group, many fine tovery fine, the 5000 franc quite scarce. (186)

£600-800

578Russian Imperial Government, a small group of 20short term 5% treasury bills, all for 5000 roubles,December 1917, scrollwork at left, black text withbrown and yellow printing, generally fine and better.(20)

£200-300

579Soviet Union: War Loan, 1945, bonds for 25, 50,100 and 200 roubles, soldiers at bottom with aircraftand factories at sides, together with post war loans,comprising 1946, 100, 200 and 500 roubles; this rare;1949, 50 roubles; 1955, 10 and 100 roubles, and1956, 200 roubles, a couple only fine but otherwise veryfine and better. (11)

£60-80



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CITY LOANS580City of Kieff, XXII 5% Loan, 1914, a group ofbonds for £100 (15), ornate borders, City arms at top,mauve, green and black, with coupons, generally veryfine to extremely fine. (15)

£120-150

581City of Kieff, XXII 5% Loan, 1914, bond for £500,no.0084, ornate border, City arms at top, green andblack, with coupons, tears at top edge, one extending55mm, tip of top left corner missing, otherwise very fineand scarce, only 262 issued.

£100-120

582City of Kieff, 1914 5% XXII Loan, bond for £500,no.0114, ornate border, coat of arms at top, green andblack, with coupons, ragged top edge with paper loss atthe extreme edge, otherwise the body is very fine, rare,only 262 issued.

£100-120

583City of Kieff, XXII 5% Loan, 1914, bond for £500,no.0085, ornate border, City arms at top, green andblack, with coupons, small tears at top and bottom edgeotherwise very fine and scarce, only 262 issued.

£120-150

584City of Kieff (Municipal Electric Tramway) 5%Loan, 1914, a large group of scrip certificates for £20bonds (265), £100 bonds (42) and £500 bonds (21),printed on cream, blue-green and pink paper,overprinted noting interest paid, mixed condition.(328)

£200-300



113

585City of Kieff, 5% 23rd Loan, 1914, bond for £100,coat of arms at top, ornate border, brown, mauve &black, with coupons, minor chipping at edges, very fine.

£80-100

586City of Kieff, 5% 23rd Loan, 1914, bond for £500,coat of arms at top, ornate border, brown, green &black, with coupons, edge tears at left and top edgesotherwise very fine and rare.

£300-400

587City of Moscow, 1908, 5% Loan, bond for £500,no.350, ornate border, green, pink and black, withcoupons, surface damage in top right border, somerepaired tears but no paper loss, fine and rare. Only 400issued.

£60-80

588City of Moscow, 1912 41⁄2% Loan, bond for £500,no.881, large format, coat of arms at top, mauve andblack, text in Russian, English and French, withcoupons, extremely fine.

£60-80

589City of Moscow, 1912 41⁄2% Loan, bond for £1000,no.114, large format, coat of arms at top, red andblack, text in Russian, English and French, withcoupons, very fine to extremely fine.

£120-150

RAILWAYS590A group of high denomination Russian Railwaybonds, comprising Armavir Touapse Railway, 1909,£500; 1913, £500; Russian South Eastern RailwayCo., 1914, £500 and Troitzk Railway, 1913, £500, allred and black, with coupons, all with edge tears but nopaper loss, fine and better. (4)

£80-100

591Armavir-Touapse Railway Co., 41⁄2% Loan, 1909, agroup of bonds for £500 (10), £100 (30) and £20(45), red, blue and brown respectively, with coupons,the £500’s generally fine with some edge splits and tears,many of the remainder are very fine and better. (85)

£200-300



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592Black-Sea-Kuban Railway Company, 41⁄2% Loan,1911, set of three bonds for £500, £100 and £20,green, blue and orange respectively, with coupons,very fine and better, the first scarce with only 400 issued.(3)

£100-120

593Chemin de Fer du Sud-Est, 41⁄2% Loan, 1910, bondfor 1000 roubles, ornate border, red and black, text inRussian and French, with coupons, very fine and scarceinternal issue.

£80-100

594Russian Consolidated 4% Railroad Loan, 2ndSeries, 1889, a group of 18 bonds for 1250 roublesor 5000 francs, ornate borders, red, one is an originalissue of Rothschilds and signed by them as agents onthe obverse, the remainder issued originally in Francebut sold through the London market in 1893, all withcoupons, generally fine to very fine. (18)

£80-100

595Kahetian Railway Company, 41⁄2% Loan, 1912, setof three bonds for £500, £100 and £20, red, blue andbrown respectively, with coupons, very fine toextremely fine, the first scarce with only 300 issued. (3)

£100-120



115

596Moscow - Smolensk Railway, a part set of bonds,1869, comprising 200 taler, mauve, 500 taler, blueand 1000 gulden, brown, this lacks coupons, all withornate border and atttractive underprint of steamengine and tender, with coupons, fine to very fine, thesecond scarce. (3)

£60-80

597Moscow-Windau-Rybinsk Railway Co., 4% Loan,1899, bond for £500 and £100, together withWladikawkas Railway, 4% Loan, 1897, bonds for 2000marks, 1000 marks (6) and 500 marks (2), andMoscow-Windau-Rybinsk Railway, 4% Loan, 1898,bonds for 500 marks and 1000 marks (4), generallyfine and better. (16)

£80-100

598Moscow-Windau-Rybinsk Railway Co., 4% Loan,1899, a set of bonds for £1000 no.00337 of only 400issued, £500, £100 and £20, ornate borders, mauve,red, blue and brown respectively, all with coupons, the£1000 with a few small edge tears and some paper loss attop edge just outside the design, the £500 is good very fineand unusually nice for this issue. (4)

£200-250

599Wladikawkas Railway Company, 4% Loan, 1900,bond for $1000 gold, no.1676, no coupons, togetherwith a large collection/accumulation of Russianrailway bonds including Railway Ministry, 41⁄2% Loan,1917, 1000 roubles, some duplication, mixedcondition but some are very fine and a useful startercollection. (176)

£300-400

600Wolmar Railway Co., 41⁄2% Loan, 1910, £100bond, no.B4949, ornate border, blue, with coupons,about extremely fine and scarce.

£80-100


Lot 598


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COMMERCIAL & INDUSTRIAL

601Society of Upper Trading Rows on Red Square in Moscow(GUM), certificate for 10 shares of 100 roubles, Moscow 1911,no.41346-41355, beautiful certificate with vignette of the stores attop, Moscow churches at left and right, statue of Kuzma Minin andDmitry Pozharsky at bottom, red and black, text all in cyrillic, withcoupons, about extremely fine and a scarce denomination.

£2,500-2,800



117

602Society of Upper Trading Rows on Red Square inMoscow (GUM), 5% loan, bond for 200 roubles,Moscow 1891, series 2, no.476, ornate border, yellowand black, no coupons remain, about extremely fine.

£180-220

603“Kavkas and Mercury” Shipping and TradingCompany, 250 rouble share, undated but circa 1879,no.16400, ornate border, blue and black, heavy folds,fine and rare

£200-250

604“Kavkas and Mercury” Shipping and TradingCompany, 250 rouble share, undated but circa 1879,no.16405, ornate border, blue and black, heavy folds,ragged right edge, fine and rare

£180-220

This and the previous lot are the last examples found ina large property consigned to us last year.

605“Kavkas and Mercury” Trading Company,provisional registered certificate for 50 shares of 250roubles, 1917, no.82151-82200, ornate border, redand black, text all in Russian, heavy folds, fine to veryfine and rare.

£1,000-1,500

The second and last example to be found in a largeproperty consigned to us last year. The other, withconsecutive serial number sold at £1600.



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606Mechanische Holz-Bearbeitung A. M. Luther, 250rouble share, Reval 1898, no.3009, ornate border,blue and black, no coupons, extremely fine and rare.

£300-400

607Mechanische Holz-Bearbeitung A. M. Luther, 250rouble share, Reval 1898, no.3010, ornate border,blue and black, no coupons, extremely fine and rare.

£300-400

608St.Petersburg-Tula Mortgage Bank, 200 roubleshare, 11 series, 1897, no.0365, ornate border, green,brown and black, lacks coupons, together with 41⁄2%mortgage bond, series 9, 1000 roubles, 1898, ornateborder, red and black, both with minor repairs onreverse, the latter with very neat repair at left, replacingsmall loss of paper, also lacks coupons, fine to very fine.(2)

£80-100

609S.A. de la Manufacture de Moscou pour le Tissagede Laine, a group of 9 certificates for 375 roubleshares, Moscow 1898, ornate border, blue and black,2000 issued, no coupons remain, mixed condition,some with edge nicks and creases, some very fine. (9)

£80-100

610Societe Anonyme “Peroune”, certificate for 200rouble share, St.Petersburg 1912, no.0951, allegoricalfigure at top, ornate border, green and black, withcoupons, extremely fine.

£80-100



119

611S.A. pour la Fabrication du Carbure de Calcium,de l’Acetylene dissous et la Soudre Autogene desMetaux “Peroune”, provisional certificate for 100rouble share, St.Petersburg 1914, no.2262, ornateborder, brown and black, good very fine.

£60-80

BRITISH COMPANIES612International Russian Corporation, £1 shares,19[14], no.A2, ornate border, black, greenunderprint, printed by Waterlow & Sons, fine to veryfine.

£60-80

613St.Petersburg Land and Mortgage Co. Ltd., agroup of four 5% debentures for £20, 19[12],handsigned by Sir Herbert Jekyll and withfacsimile signature of Evelyn Hubbard, veryattractive pieces with fine vignette of the city at top,ornate border, red and black, printed by Waterlow &Sons, with coupons, very fine or better. (4)

£200-250

Colonel Sir Herbert Jekyll (1846 - 1932), served in theRoyal Engineers in the Ashanti War of 1876. Joined theColonial Office as private secretary to Lord Carnarvon,following him in the same capacity in the War Office.Later joined the board of several large companies. Hissister was the famous gardener and artist GertrudeJekyll. The Honourable Evelyn Hubbard (1852 - 1934),businessman and Conservative politician. Joined thefamily business of Russian merchants in 1875. Laterbecame the last governor of the Russia Company and adirector of the Bank of England.

UNITED STATES

MISCELLANEOUS614A collection of American certificates comprising,State of Arkansas, 7% Levee bond for $500, 187[1];Blue Ridge Railroad Co., Mortgage Loan for $1000or £200, 1869, cancelled; Comstock Tunnel Co.,$500 bond, 1889; Denver & Rio Grande RailroadCo., 190[8]; United States Rolling Stock, 10 shares,18[88], 3 examples, other mainly Railway bonds andshares (26), some modern, some unissued, mixedcondition but many fine and very fine. (33)

£150-200

CONFEDERATE STATES

615Act of January 29th 1863, 7% Cotton Loan, bondfor £1000 or F25,000, no.A303, signed by EmileErlanger & Co. as contractors, allegorical femalewith flag and bales, text in English and French, black,grey-brown underprint to coupons (Ball 159), veryfine.

£300-400



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616Act of January 29th 1863, 7% Cotton Loan, bondfor £1000 or F25,000, no.A1107, signed by EmileErlanger & Co. as contractors, allegorical femalewith flag and bales, text in English and French, black,grey-brown underprint to coupons (Ball 159), veryfine.

£300-400

COMMERCIAL AND INDUSTRIAL

x617North American Land Company, certificate for [2]shares, 179[5], no.486, signed by Robert Morris asPresident, black printing with scrollwork at left, agood signature with negligible ink burning, good veryfine.

£300-400

618Playboy Enterprises Inc., $1 common stock, 1987,no.22221, nude model reclining, ‘bunny’ logo atbottom, ornate border, blue and black, very fine.

£60-80

619Santa Ana Mining Company (AZ), a group of 6certificates for $100 shares, Kingman, Arizona 1[900],numbers 6914, 6934, 6939-41 and 6986,multicoloured vignette of the USA and Mexican flagsbehind coat of arms, ornate border with gold seal,generally extremely fine. (6)

£60-80


Lot 617


121

x620Stanley Aerial Navigation Company, $1 shares, SanFrancisco 190[1], no.802, signed by Charles Stanleyas President, ‘Justice’ in centre, ornate border, blackand green with gold seal, very fine.

£80-100

BRITISH COMPANIES621A goup of British companies operating Breweriesin the United States, comprising Denver UnitedBreweries Ltd., £10 ordinary shares, 1890 to 1909, 5examples, 2 types; £10 preference shares, 18[900] and19[09]; City of Chicago Brewing & Malting Co. Ltd.,£10 preference shares, 18[90] and 19[26], andCincinnati Breweries Ltd., ordinary stock, [1913], fineto very fine. (10)

£60-80

622Anglo-Virginian Freehold Land Company Ltd., 7%bond, £20, numbers 1438 and 1439, large formatpieces with ornate border, brown and black, printed byWaterlow, Bros & Layton, with coupons, extremelyfine. (2)

£60-80

The company owned about 380,000 acres in Virginiaand West Virginia being managed for coal, iron andtimber.

623Cripple Creek (Bull Hill) Finance & DevelopmentCo. Ltd., 10 shilling shares, 189[900], no.46, ornateborder, green, very fine and scarce.

£60-80

Registered to promote a gold mining property, not on therich Bull Hill as the name implied but on Big Bull Hilla relatively unexplored area of Cripple Creek.

624Otis Steel Co. Ltd., 5% debenture for £10,000,no.10, of only 31 issued, 1896, large format piece,ornate border, green and black, good very fine andrare.

£60-80

A reconstruction of a company of the same name,registered to acquire the Otis Steel and Iron Company ofCleveland, Ohio. Extremely unusual largedenomination piece.

625Snowdrift Silver Mining and Reduction CompanyLtd., a group of 6 mortgage debentures for £10,1873, very large format piece, plain black printing,with coupons, fine to very fine. (6)

£80-100

Property near Georgetown, Colorado.


END OF THE SALE


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sale title date Code name sale no.

Bonds and Share Certificates Friday 29 May 2015 SHANGHAI 15018of the World at 10.00 a.m.

i request spink, without legal obligations of any kind on its part, to bid on the following lots up to the price given below. i understand that if my bid is successful thepurchase price will be the sum of the final bid and buyer’s premium as a percentage of the final bid, any vat chargeable, also a fee for bidding on the-saleroom.com onlyand fee for paying by credit card. the rate of premium is 20% of the final hammer price of each lot. i understand spink will pursue me for payment for any successful bid.in addition, i understand and consent that spink may share my personal details relating to the default with other auction houses and live bidding platforms to protectthemselves from such defaults.

all bids shall be treated as offers made on the terms and Conditions for buyers printed in the catalogue. i also understand that spink provides the service of executingbids on behalf of clients for the convenience of clients and that spink will not be held responsible for failing to execute bids. if identical commission bids are received forthe same lot, the commission bid received first by spink will take precedence. please note that you will not be notified if there are higher written bids received.

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YOU CAN ALSO BID IN REAL TIME ON SPINK LIVE.JUST VISIT WWW.SPINK.COM, REGISTER AND LOG

INTO THE SALE.

WRITTEN BIDS FORM

this form should be sent or faxed to thespink auction office in advance of the sale.references for new clients should besupplied in good time to be taken upbefore the sale. bids received later thanone hour before the start of the sale maynot be processed.

name ______________________________________________________

address ____________________________________________________

____________________________________________________________

____________________________________________________________

postCode ___________________________________________________


29 MAY 2015

LONDON


PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN STERLING

REFERENCES REQUIRED FOR CLIENTS NOT YET KNOWN TO SPINK

trade referenCes ________________________________________________________________________________________

banK referenCes ____________________________________________________________________________________________________







date sale no.

Friday 29 May 2015 15018at 10.00 a.m.

VAT is chargeable on the hammer price andthe buyer’s premium of daggered (†) and (Ω)lots at the standard rate (currently 20%), andon lots marked (x) at the reduced rate(currently 5% on the hammer price and 20%on the buyer’s premium). vat on marginscheme lots (identified by the absence of anyvat symbol next to the lot number) ispayable at 20% on the buyer’s premium only.

BIDDING INCREMENTSbidding generally opens below the low estimate and advances in the following orderalthough the auctioneer may vary the bidding increments during the course of theauction. the normal bidding increments are:up to £100 by £5£100 to £300 by £10£300 to £600 £320-£350-£380-£400 etc.£600 to £1,000 by £50

£1,000 to £3,000 by £100£3,000 to £6,000 £3,200-£3,500-£3,800-£4,000 etc.£6,000 to £20,000 by £500

£20,000 and up auctioneer’s discretion


TERMS AND CONDITIONS FOR BUYERSThese conditions set out the terms on which we (Spink and Son Limited of 69 Southampton Row, Bloomsbury London WC1B 4ET (company no. 04369748)) contractwith you (Buyer) either as agent on behalf of the Seller or as principal if we are the Seller. You should read these conditions carefully.

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1 DEFINITIONSThe following definitions apply in these conditions:Auctioneers’ Margin Scheme means a VAT margin scheme as defined by HM Revenue & Customs;Buyer’s Premium means the charge payable by you as a percentage of the Hammer Price, at the rates set out in clause 5.1 below;Certificate of Authenticity means a certificate issued by an Expert Committee confirming the authenticity of a Lot;Expert Committee means a committee of experts to whom a Lot may be sent for an extension in accordance with clause 3.4.3;Forgery means a Lot constituting an imitation originally conceived and executed as a whole with a fraudulent intention to deceive as to

authorship, origin, age, period, culture or source where the correct description as to such matters is not reflected by the descriptionin the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordancewith the description in the catalogue. Accordingly, no Lot shall be capable of being a Forgery by reason of any damage and/orrestoration work of any kind (including re-enamelling);

Hammer Price means the amount of the highest bid accepted by the auctioneer in relation to a Lot;Lot means any item deposited with us for sale at auction and, in particular, the item or items described against any Lot number in any

catalogue;Reserve the amount below which we agree with the Seller that the Lot cannot be sold;Seller means the owner of the Lot being sold by us;Spink Group Spink and Son Limited, our subsidiaries and associated companies.VAT value added tax chargeable under VAT and any similar replacement or additional tax; andVAT Symbols means the symbols detailing the VAT status of the Lot details of which are set out at the back of the catalogue.

2 SPINK’S ROLE AS AGENT

2.1 All sales undertaken by us either at auction or privately are undertakeneither as agent on behalf of the Seller or from time to time, as principalif we are the owner of the Lot. Please note that even if we are acting asagent on behalf of the Seller rather than as principal, we may have afinancial interest in the Lot.

2.2 The contract for the sale of the Lot will be between you and the Seller.

3 BEFORE THE SALE3.1 Examination of goods

You are strongly advised to examine personally any goods in which youare interested, before the auction takes place. Condition reports areusually available on request. We provide no guarantee to you otherthan in relation to Forgeries, as set out in clause 5.13 of these Termsand Conditions.

3.2 Catalogue descriptions3.2.1 Statements by us in the catalogue or condition report, or made

orally or in writing elsewhere, regarding the authorship, origin,date, age, size, medium, attribution, genuineness, provenance,condition or estimated selling price of any Lot are merelystatements of opinion, and are not to be relied on as statements ofdefinitive fact. Catalogue and web illustrations are for guidanceonly, and should not be relied on either to determine the tone orcolour of any item. No lot shall be rejected on the grounds ofinaccurate reproduction. No lot illustrated in the catalogue andonline shall be rejected on the grounds of cancellation, centring,margins, perforation or other characteristics apparent from theillustration. Estimates of the selling price should not be relied on asa statement that this price is either the price at which the Lot willsell or its value for any other purpose.

3.2.2 Many items are of an age or nature which precludes their beingin perfect condition and some descriptions in the catalogue or givenby way of condition report make reference to damage and/orrestoration. We provide this information for guidance only and theabsence of such a reference does not imply that an item is free fromdefects or restoration nor does a reference to particular defectsimply the absence of any others.

3.2.3 Other than as set out in clause 5.13, and in the absence of fraud,neither the Seller nor we, nor any of our employees or agents, areresponsible for the correctness of any statement as to theauthorship, origin, date, age, attribution, genuineness orprovenance of any Lot nor for any other errors of description or forany faults or defects in any Lot. Every person interested shouldexercise and rely on his own judgment as to such matters.

3.3 Your ResponsibilityYou are responsible for satisfying yourself as to the condition of thegoods and the matters referred to in the catalogue description.

3.4 Extensions – Stamps only3.4.1 If you wish to obtain an expert opinion or Certificate of

Authenticity on any Lot (other than a mixed Lot or Lot containingundescribed stamps) you must notify us in writing not less thanforty-eight hours before the time fixed for the commencement ofthe first session of the sale. If accepted by us, such request shall havethe same effect as notice of an intention to question thegenuineness or description of the Lot for the purposes of clause5.13 (Refund in the case of Forgery) of these Terms andConditions and the provisions of clause 5.13 (Refund in the case ofForgery) shall apply accordingly.

3.4.2 Notice of a request for an expert opinion or Certificate ofAuthenticity must give the reason why such opinion is required andspecify the identity of your proposed expert which will be subjectto agreement by us. We reserve the right, at our discretion, torefuse a request for an expert opinion or Certificate of Authenticityincluding (without limitation) where the proposed expert is notknown to us.

3.4.3 If we accept a request for an expert opinion or Certificate ofAuthenticity we will submit the Lot to the Expert Committee. Youacknowledge and accept that the length of time taken by an ExpertCommittee to reach an opinion will vary depending on thecircumstances and in any event is beyond our control.

3.4.4 We will not accept a request for an extension on account ofcondition. Any Lot described in the catalogue as having faults ordefects may not be returned even if an expert opinion or Certificateof Authenticity cites other faults or defects not included in thecatalogue description, other than in the case of a Forgery.

3.4.5 Should Spink accept a request for an extension under theforegoing provisions of this paragraph, the fact may be stated by theAuctioneer from the rostrum prior to the sale of the Lot.

3.4.6 It should be noted that any stamp accompanied by a Certificateof Authenticity is sold on the basis of that Certificate only and noton the basis of any other description or warranty as to authenticity.No request for an extension will be accepted on such a stamp andthe return of such a stamp will not be accepted.

3.4.7 If you receive any correspondence from the Expert Committeein relation to the Lot, including but not limited to a Certificate ofAuthenticity, you must provide us with copies of suchcorrespondence no later than 7 days after you receive suchcorrespondence.

4 AT THE SALE4.1 Refusal of admission

Our sales usually take place on our own premises or premises overwhich we have control for the sale, and we have the right, exercisableat our complete discretion, to refuse admission to the premises orattendance at an auction.

4.2 Registration before biddingYou must complete and sign a registration form and provideidentification before making a bid at auction. Please be aware that weusually require buyers to undergo a credit check.If you have not bid successfully with Spink in the past, or you areregistering with us for the first time, we reserve the right to require adeposit of up to 50% of the amount you intend to spend. Such depositwill be deducted from your invoice should you be successful. If you areunsuccessful at auction, your deposit will be returned by the samemeans it was paid to Spink.Some lots may be designated, prior to the auction, as “Premium Lots”,which means a deposit may be required before placing a bid on theitem for sale. Information will be posted on our website in such anevent.

4.3 Bidding as PrincipalWhen making a bid (whether such bids are made in person or byway of telephone bids operated by Spink, commission or online oremail bids), you will be deemed to be acting as principal and will beaccepting personal liability, unless it has been agreed in writing, at thetime of registration, that you are acting as agent on behalf of a thirdparty buyer acceptable to us.

4.4 Commission BidsIf you give us instructions to bid on your behalf, by using the formprovided in our catalogues or via our website, we shall use reasonableendeavours to do so, provided these instructions are received not laterthan 24 hours before the auction. If we receive commission bids on aparticular Lot for identical amounts, and at auction these bids are thehighest bids for the Lot, it will be sold to the person whose bid wasreceived first. Commission bids are undertaken subject to othercommitments at the time of the sale, and the conduct of the auctionmay be such that we are unable to bid as requested. Since this isundertaken as a free service to prospective buyers on the terms stated,we cannot accept liability for failure to make a commission bid. Youshould therefore always attend personally if you wish to be certain ofbidding.


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4.5 On-line BiddingWe offer internet services as a convenience to our clients. We will notbe responsible for errors or failures to execute bids placed on theinternet, including, without limitation, errors or failures caused by (i) aloss of internet connection by either party for whatever reason; (ii) abreakdown or problems with the online bidding software and/or (iii)a breakdown or problems with your internet connection, computer orsystem. Execution of on-line internet bids on www.spink.com andSpink Live is a free service undertaken subject to other commitments atthe time of the auction and we do not accept liability for failing toexecute an online internet bid or for errors or omissions in connectionwith this activity. Buyers who acquire lots on the-saleroom.com willhave a fee of 3% on the hammer price added to their invoice for usingthis facility.

4.6 Telephone BidsIf you make arrangements with us not less than 24 hours before thesale, we shall use reasonable endeavours to contact you to enable youto participate in bidding by telephone, but in no circumstances will webe liable to either the Seller or you as a result of failure to do so.

4.7 Currency ConverterAt some auctions, a currency converter will be operated, based on theone month forward rates of exchange quoted to us by Barclays BankPlc or any other appropriate rate determined by us, at opening on thedate of the auction. Bidding will take place in a currency determined byus, which is usually sterling for auctions held in London. The currencyconverter is not always reliable, and errors may occur beyond ourcontrol either in the accuracy of the Lot number displayed on theconverter, or the foreign currency equivalent of sterling bids. We shallnot be liable to you for any loss suffered as a result of you following thecurrency converter.

4.8 Video imagesAt some auctions there will be a video screen. Mistakes may occur in itsoperation, and we cannot be liable to you regarding either thecorrespondence of the image to the Lot being sold or the quality of theimage as a reproduction of the original.

4.9 Bidding IncrementsBidding generally opens below the low estimate and advances in thefollowing order although the auctioneer may vary the biddingincrements during the course of the auction. The normal biddingincrements are:

Up to £100 by £5£100 to £300 by £10£300 to £600 £320-£350-£380-£400 etc.£600 to £1,000 by £50£1,000 to £3,000 by £100£3,000 to £6,000 £3,200-£3,500-£3,800-£4,000 etc.£6,000 to £20,000 by £500£20,000 and up Auctioneer’s discretion

4.10 Bidding by Spink4.10.1 We reserve the right to bid on Lots on the Seller’s behalf up to

the amount of the Reserve (if any), which will never be above thelow estimate printed in the auction catalogue.

4.10.2 The Spink Group reserves the right to bid on and purchaseLots as principal.

4.11 The Auctioneer’s DiscretionThe auctioneer has the right at his absolute discretion to refuse any bidto advance the bidding in such manner as he may decide to withdrawor divide any Lot, to combine any two or more Lots and, in the case oferror or dispute, to put an item up for bidding again.

4.12 Successful BidSubject to the auctioneer’s discretion, the striking of his hammer marksthe acceptance of the highest bid, provided always that such bid ishigher than the Reserve (where applicable), and the conclusion of acontract for sale between you and the Seller.

4.13 After Sale ArrangementsIf you enter into any private sale agreements for any Lot with the Sellerwithin 60 days of the auction, we, as exclusive agents of the Sellerreserve the right to charge you the applicable Buyer’s Premium inaccordance with these Terms and Conditions, and the Seller acommission in accordance with the terms of the Seller’s agreement.

4.14 Return of Lot4.14.1 Once your bid has been accepted for a Lot then you are liable

to pay for that Lot in accordance with these Terms and Conditions.If there are any problems with a Lot then you must notify us within7 days of receipt of the Lot, specifying the nature of the problem.We may then request that the Lot is returned to us for inspection.Save as set out in clause 5.13, the cancellation of the sale of any Lotand the refund of the corresponding purchase price is entirely atour sole discretion. We will not normally exercise that discretion ifthe Lot is not received by us in the same condition that it was in atthe auction date.

4.14.2 No lot may be returned on account of condition if thecondition was stated by a third party grading company (including,but not limited to PCGS, NGC, ANACS, ICG, PMG, WBG).

5 AFTER THE AUCTION5.1 Buyer’s Premium and other charges

In addition to the Hammer Price, you must pay us the Buyer’sPremium at a rate of 20% of the final Hammer price of each lot, a feeof 3% on the hammer price total for using the-saleroom.com and a feefor paying by credit card.

5.2 Value Added TaxOther than in respect of Zero-rated Lots (o) VAT is chargeable on theHammer price and the Buyer’s premium of daggered (†) and (Ω) lotsat the standard rate (currently 20%), and on lots marked (x) at thereduced rate (currently 5% on the Hammer price and 20% on theBuyer’s premium). VAT on Margin scheme lots (identified by theabsence of any VAT symbol next to the lot number) is payable at 20%on the Buyer’s premium only.

5.3 VAT RefundsGeneral5.3.1 As we remain liable to account for VAT on all Lots unless they

have been exported outside the EU within 3 months of the date ofsale, you will generally be asked to deposit all amounts of VATinvoiced. However, if a Spink nominated shipper is instructed, thenany refundable VAT will not be collected. In all other cases creditswill be made when proof of export is provided. If you export theLot yourself you must obtain shipping documents from theShipping Department for which a charge of £50 will be made.

5.3.2 If you export the Lot you must return the valid proof of exportcertificate to us within 3 months of the date of sale. If you fail toreturn the proof of export certificate to us within such period andyou have not already accounted to us for the VAT, you will beliable to us for the full amount of the VAT due on such Lot and weshall be entitled to invoice you for this sum.

5.3.3 To apply for a refund of any VAT paid, the proof of exportcertificate must be sent to our Shipping Department clearly marked‘VAT Refund’ within 3 months of the date of sale. No payment willbe made where the total amount of VAT refundable is less than £50and Spink will charge £50 for each refund processed.

VAT Refunds - Buyers from within the EU5.3.4 VAT refunds are available on the Hammer Price and Buyer’s

Premium of Daggered (†) and Investment Gold (g) Lots. You mustcertify that you are registered for VAT in another EU country andthat the Lot is to be removed from the United Kingdom within 3months of the date of sale.

5.3.5 Where an EU buyer purchases a Lot on which import VAT hasbeen charged, no refund of VAT is available from us. It may bepossible to apply directly for a refund on form VAT 65 toHM Revenue & Customs Overeseas Repayment Section,Londonderry.

VAT Refunds – Buyers from outside the EU5.3.6 Where a Lot is included within the Auctioneers’ Margin Scheme

and evidence of export from the EU is produced within 3 monthsof the date of sale, the VAT on Buyer’s Premium may be refunded.

5.3.7 Where the Lot is marked as a Daggered (†) or Investment Gold(g) Lot the VAT charged on the Hammer Price may be refundedwhere evidence of export from the EU is produced within 3months of the date of sale. A refund of VAT charged on the Buyer’sPremium can also be made on receipt of proof of business as acollectibles dealer.

5.3.8 Where the Lot is marked as an Omega (Ω) Lot or an ImportVAT (x) Lot and evidence of export from the EU is producedwithin 3 months of the date of sale, the VAT charged on both theHammer Price and Buyer’s Premium may be refunded. Whererequired, we can advise you on how to export such Lots as a specificform of export evidence is required. Where we advise you on theexport of the Lots, please be aware that the ultimate responsibilityin respect of obtaining a valid proof of export certificate will lie withyou and we will not be responsible for your failure to obtain suchcertificate.

5.4 Payment5.4.1 You must provide us with your full name and permanent address

and, if so requested, details of the bank from which any paymentsto us will be made. You must pay the full amount due (comprisingthe Hammer Price, the Buyer’s Premium and any applicable VAT)within seven days after the date of the sale. This applies even if youwish to export the Lot and an export licence is (or may be)required.

5.4.2 You will not acquire title to the Lot until all amounts duehave been paid in full. This includes instances where specialarrangements were made for release of Lot prior to full settlement.

5.4.3 Payment should be made in sterling by one of the followingmethods:II(i) Direct bank transfer to our account details of which are set

out on the invoice. All bank charges shall be met by you.Please ensure that your client number is noted on thetransfer.

i(ii) By cheque or bank draft made payable to Spink and Son Ltdand sent to Spink at 69 Southampton Row, Bloomsbury,London WC1B 4ET. Please note that the processing chargesfor payments made by cheques or bank drafts drawn on anon-U.K bank shall be met by you. Please ensure that theremittance slip printed at the bottom of the invoice isenclosed with your payment.

(iii) By Visa or Mastercard. A fee of 2% will be applied. Paymentsmade by American Express are subject to a 4% fee. Paymentsexceeding £5,000 can normally only be made by the cardholder in person whilst on our premises.

5.4.4 Payments should be made by the registered buyer and not bythird parties, unless it has been agreed at the time of registrationthat you are acting as an agent on behalf of a third party.


5.5 InvoicesInvoices may consist of one or more pages and will show: Zero ratedLots (o); no symbol Lots sold under the Auctioneers’ Margin Scheme;Lots marked (g) special scheme Investment Gold; Daggered Lots (†),imported Lots marked (x) and (Ω), (e) Lots with Zero rated hammerfor EU VAT registered buyers.

5.6 Collection of Purchases5.6.1 Unless specifically agreed to the contrary, we shall retain lots

purchased until all amounts due to us, or to the Spink Group, havebeen paid in full. Buyers will be required to pay for their lots whenthey wish to take possession of the same, which must be within 7days of the date of the sale, unless prior arrangements have beenmade with Spink. Without prior agreement, lots will not be releaseduntil cleared funds are received with regard to payments made bycheque.

5.6.2 Unless we notify you to the contrary, items retained by us willbe covered in accordance with our policy which is available forinspection at our offices from the date of sale for a period of sevendays or until the time of collection, whichever is sooner. After sevendays or from the time of collection, whichever is the earlier, the Lotwill be entirely at your risk.

5.6.3 Our policy will not cover and we are unable to acceptresponsibility for damage caused by woodworm, changes inatmospheric conditions or acts of terrorism.

5.7 NotificationWe are not able to notify successful bidders by telephone. WhileInvoices are sent out by mail after the auction we do not acceptresponsibility for notifying you of the result of your bid. You arerequested to contact us by telephone or in person as soon as possibleafter the auction to obtain details of the outcome of your bids to avoidincurring charges for late payment.

5.8 Packing and handling5.8.1 We shall use all reasonable endeavours to take care when

handling and packing a purchased Lot but remind you that afterseven days or from the time of collection, whichever is sooner, theLot is entirely at your risk. Our postage charges are set out at theback of the catalogue.

5.8.2 It is the responsibility of the Buyer to be aware of any ImportDuties that may be incurred upon importation to the finaldestination. Spink will not accept return of any package in order toavoid these duties. The onus is also on the Buyer to be aware of anyCustoms import restrictions that prohibit the importation ofcertain collectibles. Spink will not accept return of the Lot(s) underthese circumstances. Spink will not accept responsibility for Lot(s)seized or destroyed by Customs.

5.8.3 If the Buyer requires delivery of the Lot to an address other thanthe invoice address this will be carried out at the discretion ofSpink.

5.9 Recommended packers and shippersIf required our shipping department may arrange shipment as youragent. Although we may suggest carriers if specifically requested, oursuggestions are made on the basis of our general experience of suchparties in the past and we are not responsible to any person to whomwe have made a recommendation for the acts or omissions of the thirdparties concerned.

5.10 Remedies for non-payment or failure to collect purchases5.10.1 If you fail to make payment within seven days of your stipulated

payment date set out in your invoice, we shall be entitled to exerciseone or more of the following rights or remedies:5.10.1.1 to charge interest at the rate of 2% per month compound

interest, calculated on a daily basis, from the date the fullamount is due;

5.10.1.2 to set off against any amounts which the Spink Group mayowe you in any other transaction the outstanding amountremaining unpaid by you;

5.10.1.3 we may keep hold of all or some of your Lots or otherproperty in the possession of the Spink Group until you havepaid all the amounts you owe us or the Spink Group, even if theunpaid amounts do not relate to those Lots or other property.Following fourteen days’ notice to you of the amountoutstanding and remaining unpaid, the Spink Group shall havethe right to arrange the sale of such Lots or other property. Weshall apply the proceeds in discharge of the amount outstandingto us or the Spink Group, and pay any balance to you;

5.10.1.4 where several amounts are owed by you to the SpinkGroup in respect of different transactions, to apply any amountpaid to discharge any amount owed in respect of any particulartransaction, whether or not you so direct;

5.10.1.5 to reject at any future auction any bids made by you or onyour behalf or obtain a deposit from you before accepting anybids.

5.10.2 If you fail to make payment within thirty-five days, we shall inaddition be entitled:

5.10.2.1 to cancel the sale of the Lot or any other item sold to youat the same or any other auction;

5.10.2.2 to arrange a resale of the Lot, publicly or privately, and, ifthis results in a lower price being obtained, claim the balancefrom you together with all reasonable costs including a 20%seller’s commission, expenses, damages, legal fees, commissionsand premiums of whatever kind associated with both sales orotherwise, incurred in connection with your failure to makepayment;

5.10.2.3 when reselling the Lot, place a notice in our cataloguestating that you successfully purchased the Lot at auction buthave subsequently failed to pay the Hammer Price of the Lot; or

5.10.2.4 take any other appropriate action as we deem fit.5.10.3 If you fail to collect within fourteen days after the sale, whether

or not payment has been made, you will be required5.10.3.1 to pay a storage charge of £2 per item per day plus any

additional handling cost that may apply.5.10.3.2 you will not be entitled to collect the Lot until all

outstanding charges are met, together with payment of all otheramounts due to us.

5.11 Uses of default informationIf you fail to make payment for a Lot in accordance with these Terms andConditions:5.11.1 We reserve the right to refuse you the right to make bids for any

future auction irrespective of whether previous defaults havebeen settled; and

5.11.2 You consent to us disclosing details of such default to otherauctioneers and live bidding platforms, which will include yourname, address, nature of the default and the date of the default.

Auctioneers or live bidding platforms who receive details of the defaultmay rely on such information when deciding whether to enter into atransaction with you in the future.

5.12 Export Licence5.12.1 If required we can, at our discretion, advise you on the detailed

provisions of the export licensing regulations. Where we advise youin relation to export licensing regulations the ultimate responsibilityin respect of any export will lie with you and we will not beresponsible for your failure to apply for any necessary licences.

5.12.2 If the Lot is going to be hand carried by you, you may berequired to produce a valid export licence to us or sign a waiverdocument stating that a licence will be applied for.

5.12.3 You should always check whether an export licence is requiredbefore exporting. Export licences are usually obtained within twoor three weeks but delays can occur.

5.12.4 Unless otherwise agreed by us in writing, the fact that you wishto apply for an export licence does not affect your obligation tomake payment within seven days nor our right to charge interest onlate payment.

5.12.5 If you request that we apply for an export licence on yourbehalf, we shall be entitled to recover from you our disbursementsand out of pocket expenses in relation to such application, togetherwith any relevant VAT.

5.12.6 We will not be obliged to rescind a sale nor to refund anyinterest or other expenses incurred by you where payment is madeby you despite the fact that an export licence is required.

5.13 Refund in the case of Forgery5.13.1 A sale will be cancelled, and the amount paid refunded to you

if a Lot (other than a miscellaneous item not described in thecatalogue) sold by us proves to have been a Forgery. We shall nothowever be obliged to refund any amounts if either (a) thecatalogue description or saleroom notice at the auction datecorresponded to the generally accepted opinion of scholars orexperts at that time, or fairly indicated that there was a conflict ofopinions, or (b) it can be demonstrated that the Lot is a Forgeryonly by means of either a scientific process not generally acceptedfor use until after publication of the catalogue or a process which atthe date of the auction was unreasonably expensive or impracticableor likely to have caused damage to the Lot. Furthermore, youshould note that this refund can be obtained only if the followingconditions are met:5.13.1.1 you must notify us in writing, within seven days of the

receipt of the Lot(s), that in your view the Lot concerned is aForgery;

5.13.1.2 you must then return the item to us within fourteen daysfrom receipt of the Lot(s), in the same condition as at theauction date; and

5.13.1.3 as soon as possible following return of the Lot, you mustproduce evidence satisfactory to us that the Lot is a Forgery andthat you are able to transfer good title to us, free from any thirdparty claims.

5.13.1.4 you must provide to us all evidence obtained by you thata Lot is a Forgery no later than 7 days after you receive suchevidence.

5.13.2 In no circumstances shall we be required to pay you any morethan the amount paid by you for the Lot concerned and you shallhave no claim for interest.

5.13.3 The benefit of this guarantee is not capable of beingtransferred, and is solely for the benefit of the person to whom theoriginal invoice was made out by us in respect of the Lot when soldand who, since the sale, has remained the owner of the Lot withoutdisposing of any interest in it to any third party.

5.13.4 We shall be entitled to rely on any scientific or other process toestablish that the Lot is not a Forgery, whether or not such processwas used or in use at the date of the auction.

6 LIABILITYNothing in these Terms and Conditions limits or excludes our liability for:6.1 death or personal injury resulting from negligence; or6.2 any damage or liability incurred by you as a result of our fraud or

fraudulent misrepresentation.

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7 USE OF YOUR PERSONAL INFORMATION7.1 We will use the personal information you provide to us to:

7.1.1 process the bids you make on Lots (whether successful orotherwise) and other auction related services we provide;

7.1.2 process your payment relating to a successful purchase of a Lot;7.1.3 arrange for delivery of any Lot you purchase, which will include

passing your details to shipping providers and, on overseasdeliveries, to customs where they make enquiries regarding the Lot;

7.1.4 inform you about similar products or services that we provide,but you may stop receiving these at any time by contacting us.

7.2 In accordance with clause 4.2, you agree that we may pass yourinformation to credit reference agencies and that they may keep a recordof any search that they do.

7.3 In accordance with clause 5.11, you agree that where you default onmaking payment for a Lot in accordance with these terms and conditionswe may disclose details of such default to other auctioneers and livebidding platforms.

7.4 We are also working closely with third parties (including, for example,other auctioneers and live bidding platforms) and may receiveinformation about you from them.

8 COPYRIGHT8.1 We shall have the right (on a non-exclusive basis) to photograph, video

or otherwise produce an image of the Lot. All rights in such an imagewill belong to us, and we shall have the right to use it in whatever waywe see fit.

8.2 The copyright in all images, illustrations and written material relatingto a Lot is and shall remain at all times our property and we shall havethe right to use it in whatever way we see fit. You shall not use or allowanyone else to use such images, illustrations or written material withoutour prior written consent.

9 VATYou shall give us all relevant information about your VAT status and that ofthe Lot to ensure that the correct information is printed in the catalogues.Once printed, the information cannot be changed. If we incur any unforeseencost or expense as a result of the information being incorrect, you willreimburse to us on demand the full amount incurred.

10 NOTICESAll notices given under these Terms and Conditions may be served personally,sent by 1st class post, or faxed to the address given to the sender by the otherparty. Any notice sent by post will be deemed to have been received on thesecond working day after posting or, if the addressee is overseas, on the fifthworking day after posting. Any notice sent by fax or served personally will bedeemed to be delivered on the first working day following despatch.

11 ADDITIONAL PROVISIONSThe following provisions of this clause 10 shall apply only if you are acting forthe purposes of your business.11.1 Limitation of Liability

Subject to clause 6, we shall not be liable, whether in tort (includingfor negligence) or breach of statutory duty, contract, misrepresentationor otherwise for any:11.1.1 loss of profits, loss of business, depletion of goodwill and/or

similar losses, loss of anticipated savings, loss of goods, loss ofcontract, loss of use, loss of corruption of data or information; or

11.1.2 any special, indirect, consequential or pure economic loss,costs, damages, charges or expenses.

11.2 SeverabilityIf any part of these Terms and Condition is found by any court to beinvalid, illegal or unenforceable, that part may be discounted and therest of the conditions shall continue to be valid and enforceable to thefullest extent permitted by law.

11.3 Force majeureWe shall have no liability to you if we are prevented from, or delayedin performing, our obligations under these Terms and Conditions orfrom carrying on our business by acts, events, omissions or accidentsbeyond our reasonable control, including (without limitation) strikes,lock-outs or other industrial disputes (whether involving our workforceor the workforce of any other party), failure of a utility service ortransport network, act of God, war, riot, civil commotion, maliciousdamage, compliance with any law or governmental order, rule,regulation or direction, accident, breakdown of plant or machinery,fire, flood, storm or default of suppliers or subcontractors.

11.4 Waiver11.4.1 A waiver of any right under these Terms and Conditions is only

effective if it is in writing and it applies only to the circumstancesfor which it is given. No failure or delay by a party in exercising anyright or remedy under these Terms and Conditions or by law shallconstitute a waiver of that (or any other) right or remedy, norpreclude or restrict its further exercise. No single or partial exerciseof such right or remedy shall preclude or restrict the further exerciseof that (or any other) right or remedy.

11.4.2 Unless specifically provided otherwise, rights arising underthese Terms and Conditions are cumulative and do not excluderights provided by law.

11.5 Law and Jurisdiction11.5.1 These Terms and Conditions and any dispute or claim arising

out of or in connection with them or their subject matter, shall begoverned by, and construed in accordance with, the law of Englandand Wales.

11.5.2 The parties irrevocably agree that the courts of England andWales shall have exclusive jurisdiction to settle any dispute orclaim that arises out of, or in connection with, Terms andConditions or their subject matter.

Postal ChargesPrices for books(items sent by this method are not covered by insurance)

Prices for all other items including postage and packaging

Shipments of more than 2kg or volumetric measurement of more than 2kg have tobe sent by courier. Certain countries may incur extra charge when courier servicesare required by our insurance policy. For lots sent by courier please [email protected] for calculation of any further relevant cost in addition tothe above charges.

Value Added Tax (VAT)

Charging of (VAT) at AuctionThe information shown on this page sets out the way in which Spink intends toaccount for VAT.

i. Auctioneers’ Margin Scheme1. Where possible, we will offer Lots for sale under the Auctioneers’

Margin Scheme. Such Lots can be identified by the absence of anyVAT symbol next to the Lot number in the catalogue and will not besubject to VAT on the Hammer Price.

2. Where Lots are sold using the Auctioneers’ Margin Scheme to UKVAT–registered businesses, the VAT on Buyers’ Premium is notrecoverable as input tax. Upon request on sale day, we will issueinvoices that show VAT separately on both the Hammer Price andthe Buyer’s Premium. This will enable VAT-registered businesses torecover the VAT charged as input tax, subject to the normal rules forrecovering input tax.

ii. Zero-Rated LotsLimited Categories of goods, such as books, are Zero-rated (o) for VAT inthe United Kingdom. Such Lots are offered under the Auctioneers’ MarginScheme. In these circumstances no VAT will be added to the Buyer’spremium.

iii. Daggered LotsLots which are Daggered (†) in the catalogue are subject to VAT at 20%on both the Hammer Price and the Buyer’s Premium.

iv. Imported and Omega LotsLots which are marked (x) in the catalogue are subject to VAT at 5% onthe Hammer price plus 20% on the Buyer’s premium. Lots which bear theOmega symbol (Ω) are subject to VAT at 20% on the Hammer Price andon the Buyer’s Premium. This VAT is payable on items imported fromoutside the EU. In these cases we have used a temporary importationprocedure, which in effect means that the point of importation is deferreduntil the Lot has been sold. At this point the Buyer is treated as theimporter and is liable to pay the import VAT due. We will collect the VATfrom you and pay it to HM Customs and Excise on your behalf.

v. Investment Gold LotsLots marked (g) in the catalogue are exempt from VAT on the HammerPrice and are subject to VAT at 20% on the Buyer’s Premium. A refund ofVAT charged on the Buyer’s Premium can also be made on receipt of proofof business as a collectibles dealer outside of the EU.

Invoice Value UK EU Rest of the WorldUp to £1,500 £10 £15 £20

Up to £10,000 £20 £30 £40

Above £10,001 £20 £50 £60

Weight UK EU Rest of the WorldUp to 1kg £8 for any weight £12 £15

Up to 2kg £8 for any weight £18 £25


BANKNOTES

24/25 June The Numismatic Collector’s Series Sale New York 3228/9 July World Banknotes London 1502816 August Banknotes of South East Asia Sale during the International Exhibition Singapore 1503827 August The Numismatic Collector’s Series Sale Hong Kong CSS1729/30 September World Banknotes London 150091 October World Banknotes London 1500914 November The Numismatic Collector’s Series Sale Hong Kong CSS19

SALE CALENDAR 2015

The above sale dates are subject to change

Spink offers the following services:– VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS –– SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

STAMPS

16 May Gems of Chinese Imperial Post in Taiwan Hong Kong CSS1616 May The Philatelic Collector’s Series Sale Hong Kong CSS1219 May Western Australia from the Vestey Collection London 1502420 May Swaziland, The Award-Winning Collection formed by

Peter van der Molen, RDPSA, FRPSL London 1503520/21/22 May The Philatelic Collector’s Series Sale London 1502317 June The “Lionheart” Collection of Great Britain and British Empire – Part V London 1503915/16 July The Philatelic Collector’s Series Sale London 1502615/16 July The Philatelic Collector’s Series Sale New York 15121 July Postal History and Historical Documents London 1503717/18 August Stamps and Covers of South East Asia Sale during the International Exhibition Singapore 1502717/18 August Antique Maps Sale during the International Exhibition Singapore 1504026 September The Philatelic Collector’s Series Sale Hong Kong CSS14

COINS

14 May The Slaney Collection of English Coins – Part 2 London 1503124/25 June The Numismatic Collector’s Series Sale New York 3221/2 July Ancient, British & Foreign Coins and Commemorative Medals London 1500527 August The Numismatic Collector’s Series Sale Hong Kong CSS1722/23 September Ancient, British & Foreign Coins and Commemorative Medals London 1500614 November The Numismatic Collector’s Series Sale Hong Kong CSS192/3 December Ancient, British & Foreign Coins and Commemorative Medals London 15007

MEDALS

23 July Orders, Decorations, Campaign Medals & Militaria London 1500219 November Orders, Decorations, Campaign Medals & Militaria London 15003

BONDS AND SHARES

29 May Bonds & Share Certificates of the World London 1501824/25 June The Numismatic Collector’s Series Sale New York 32227 August The Numismatic Collector’s Series Sale Hong Kong CSS1714 November The Numismatic Collector’s Series Sale Hong Kong CSS1927 November Bonds & Share Certificates of the World London 15019

AUTOGRAPHS

21 July Postal History and Historical Documents London 15037

WINES

25 June Whisky, Cognac and Other Spirits Hong Kong SFW1415 August Whisky, Cognac and Other Spirits sale during the International Exhibition Singapore SFW1517 September Whisky, Cognac and Other Spirits Hong Kong SFW1612 October Whisky, Cognac and Other Spirits Hong Kong SFW1715 January 2016 Whisky, Cognac and Other Spirits Hong Kong SFW18

GROUP CHAIRMAN AND CEO

Olivier D. Stocker

YOUR SPECIALISTS

STAMPS

UK - Tim Hirsch FRPSL Guy Croton Fernando Martínez David Parsons Nick Startup Neill GrangerPaul Mathews Dominic Savastano Tom Smith Ian Shapiro (Consultant)

USA - George Eveleth Richard DebneyEUROPE - Guido Craveri Fernando Martínez

CHINA - Tommy Chau Doris LoCOINS

UK - Richard Bishop Eleanor Charlotte DixTim Robson Jon Mann Barbara Mears John Pett

USA - Greg Cole Luke Mitchell Stephen Goldsmith (Special Consultant)CHINA - Kin Choi Cheung

BANKNOTES

UK - Barnaby Faull Andrew Pattison Monica Kruber Thomasina SmithUSA - Greg Cole Stephen Goldsmith (Special Consultant)

CHINA - Kelvin Cheung Pei Po ChowBONDS & SHARES

UK - Mike Veissid Andrew Pattison Thomasina SmithUSA - Luke Mitchell

Europe - Peter ChristenCHINA - Kelvin Cheung

ORDERS, DECORATIONS, MEDALS & MILITARIA

UK - Mark Quayle Oliver Pepys John HaywardBOOKS

UK - Philip Skingley Jennifer MulhollandAUTOGRAPHS

USA - Greg Cole Stephen Goldsmith (Special Consultant)WINES

CHINA - Guillaume Willk-Fabia

YOUR EUROPE TEAM (LONDON - LUGANO)

Chairman’s OfficeCharles Blane

DirectorsTim Hirsch Anthony Spink

Auction & Client Management TeamMira Adusei-Poku Grace Hawkins Rita Ariete Dora Szigeti Tatyana Boyadzhieva

John Winchcombe Craig Bower-Parker María Martínez Maurizio Schenini

FinanceAlison Bennet Marco Fiori Mina Bhagat Dennis Muriu Hemel Thakore Veronica Morris

IT & AdministrationBerdia Qamarauli Michael Addo Liz Cones Curlene Spencer

Tom Robinson Cristina Dugoni Giacomo Canzi

YOUR AMERICA TEAM (NEW YORK)

Auction Administration and Marketing & DesignSonia Alves Amit Ramprashad

Finance & AdministrationAleena Nieves

AuctioneerLuke Mitchell

YOUR ASIA TEAM (HONG KONG - SINGAPORE)

AdministrationAngie Ihlo Fung Newton Tsang Sue Pui Arthur Chan Doris Lo Gary Tan

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STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

69 Southampton Row, Bloomsbury, London WC1B 4ETwww.spink.com


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