Bonds & Share Certificates of the World

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Spink London Bonds and Share Certificates of the World FRIDAY 20 MAY 2011

Bonds and Share Certificates of the World

COINS STAMPS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS & BOOKS

spink.com

Telephone: +44 (0)20 7563 4000 Fax: +44 (0)20 7563 4066

£25

11006

69 Southampton Row, Bloomsbury, London WC1B 4ET

LONDON, FRIDAY 20 MAY 2011

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Olivier D. Stocker Group Chairman & CEO

Coins, Stamps, Banknotes, Medals, Bonds & Shares, Autographs & Books

SPINK UK Timothy Hirsch Director Anthony Spink Non-Executivc Director Monica Kruber Executive Assistant to CEO Auction and Client Management Team Emily Johnston Miroslava Adusei-Poku Luca Borgo Phillipa Brown Finance Alison Bennet Mina Bhagat Alison Kinnaird Shyam Padhiar James Willan IT & Administration Berdia Qamarauli Segun Magbagbeola Liz Cones Curlene Spencer John Winchcombe

James McGuire

SPINK USA Charles F. Shreve President Tracy L. Shreve Chief Operating Officer John Herzog Chairman Emeritus Finance Dennis Muriu Ingrid Qureshi Sam Qureshi Auction Administration Rick Penko Patricia Lou Gardner Marketing & Design Emily Cowin William Jackson Shawn Barnes Administration Marcy Gottberg

Clyde Townsend

SPINK ASIA Gary Tan SPECIALISTS Bonds & Shares Mike Veissid Stamps David Parsons Nick Startup Neill Granger Paul Mathews Guy Croton Dominic Savastano Chris Anderson Charles Shreve Tim Hirsch George Eveleth Ed Robinson Coins Richard Bishop Paul Dawson John Pett William MacKay Julie-Morgane Lecoindre Jim Fitzgerald Arthur Bryant Matthew Orsini Thomas Tesoriero Normand Pepin Banknotes Barnaby Faull Matthew Orsini Jim Fitzgerald Francesca Girelli Autographs Robert Litzenberger Orders, Decorations, Medals & Militaria Mark Quayle Oliver Pepys Books Philip Skingley Rebecca Mason

AUCTION CALENDAR 2011 Stamps 5/6 May 25/26 May 8 June 30 June 13/14 July July (TBA) 25 September

Spring Collector’s Series Sale The Rolfe E. Wyer Collection of French Colonies Dr. Robert Towers Collection of British Empire The Pasha Collection of Islamic Proofs, Stamps and Postal History Part 1 Summer Collector’s Series Sale Philatelic Collector’s Series Sale Fine Stamps & Covers of South East Asia

London New York London London London New York Singapore

Banknotes 20/21 May 24 September 27/28/29 September 8 December

Texas Numismatic Association Sale Banknotes & Bonds of South East Asia World Banknotes World Banknotes

Fort Worth Singapore London London

11017 11019 11020

Bonds and Shares 20/21 May 20 May 21 October

Texas Numismatic Association Sale Bonds & Share Certificates of the World Bonds & Share Certificates of the World

Fort Worth London London

11006 11022

Coins 20/21 May 23 June 6 October 1 December

Texas Numismatic Association Sale Ancient, English & Foreign Coins and Commemorative Medals Ancient, English & Foreign Coins and Commemorative Medals Ancient, English & Foreign Coins and Commemorative Medals

Fort Worth London London London

11009 11023 11024

Medals 21 July 24 November

Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria

London London

11010 11011

The above sale dates are subject to change Our Environmental Commitment: Paper from Sustainable Forests and Non Hazardous Ink For centuries Spink and its employees have been preserving and curating collectable items. We now wish to play a modest role in preserving our planet, as well as the heritage of collectables, so future generations may enjoy both.

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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.

11018 11025 11028 11029 11016

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Bonds and Share Certificates of the World Friday 20 May 2011 at 10.00 a.m.

69 Southampton Row, Bloomsbury, London WC1B 4ET, Uk and on

In sending commission bids or making enquiries, this sale should be referred to as MARInE - 11006

Spink: 69 Southampton Row, Bloomsbury London WC1B 4ET Vat no: GB 791627108 Telephone: 020 7563 4000 Fax: 020 7563 4066

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Viewing at 69 Southampton Row: Thursday 19 May 2011 10.00 a.m.- 5.00 p.m.

Morning of Sale from 9.30 a.m.

YoUR SPInk TEAM

FoR ThIS SALE

For your questions about the sale lots: Mike Veissid +44 (0)20 7563 4075 / mveissid@spink.com For your bids: Miroslava Adusei-Poku +44 (0)20 7563 4020 Fax: +44 (0)20 7563 4037 auctionteam@spink.com For your internet bidding: Segun Magbagbeola +44 (0)20 7563 4090 / segun@spink.com For your payment: James Willan +44 (0)20 7563 4018 / jwillan@spink.com For your VAT enquiries: John Winchcombe +44 (0)20 7563 4101 / jwinchcombe@spink.com

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Front Cover Illustration: 340 Back Cover Illustrations: 433, 479

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Bonds and Share Certificates of the World

INDEX BY COUNTRY Morning Session at 10.00am AFRICA Mixed Lot Belgian Congo French Colonial Africa Mozambique Reunion Sierra Leone South Africa EGYPT & ThE MIDDLE EAST Egypt Iraq Morocco Palestine

1 2 3 4-5 6 7 8-13

14-35 36 37 38-45

ASIA China: Foreign Loans Internal Loans Provincial Loans Municipal Loans Commercial and Industrial Indochina India Japan Malaya netherlands Indies Philippines Thailand/Siam

46-91 92-103 104-111 112-114 115-138 139 140-150 151-159 160 161 162-164 165-169

AUSTRALASIA Australia new Zealand oceania

170-183 184-186 187-188

CAnADA

189-198

EURoPE Austria Belgium Bulgaria Croatia Czechoslovakia Denmark

199-200 201-209 210-216 217-218 219-221 222-227

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Finland France Germany Gibraltar Greece hungary Iceland Ireland Italy netherlands and Colonies norway Poland Portugal and Colonies Roumania Serbia Spain Sweden Switzerland Turkey/ottoman Empire

228 229-252 253-301 302 303-310 311-314 315-317 318-321 322-325 326-329 330-331 332-334 335-343 344 345-348 349-366 367-368 369-371 372-374

GREAT BRITAIn Government Canals Railways Shipping & Shipbuilding Aviation Piers, Docks and harbours Buses and Taxis Motor Cars and Cycles Mining and oil Gas and Water Breweries and Distilleries Commercial and Industrial

375-381 382-389 390-408 409-470 471-474 475-485 486-487 488-491 492-505 506-509 510-528 529-558

LATIn AMERICA Mixed lots Argentina Bolivia Brazil Chile Costa Rica Cuba Ecuador Mexico nicaragua Panama

559-560 561-576 577 578-588 589-590 591 592-602 603 604-628 629 630

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Paraguay Poyais Peru Uruguay Venezuela RUSSIA State Loans City Loans Railways Commercial and Industrial

631 632-633 634 635-643 644-646 647-652 653-659 660-668 669-677

USA Mixed Lot State Loans Confederate Bonds Railroads Shipping and Shipbuilding Mining and oil Commercial and Industrial WEST InDIES

678 679-687 688-689 690-704 705-711 712-719 720-726 727-728

THEMATIC INDEX Agriculture

15, 30, 122, 174, 185, 228, 295, 552, 553, 642 Animals 31, 209, 574, 576 Aviation 96, 471-474 Banking 25-27, 56, 57, 74-79, 115-119, 127-129, 139, 141, 155- 159, 207, 218, 298, 304, 311-313, 344-346, 348, 374, 531, 541, 561-563, 590, 603, 627, 631-634, 669, 722 Breweries/Distilleries 213, 510-528, 720, 723 Building 542 Buses/Taxis 486, 487 Canals 382-389, 571, 630, 687 Cinema 306 City Loans 104-108, 112-114, 152, 199, 258-264, 267, 268, 333, 367, 381, 582, 583, 593, 616-618, 653-659 Coal 307, 716 Coffee 580 Colonial Trade 2, 3, 222, 300, 301, 326, 335 Construction 33, 103, 231, 361, 543 Diamonds 1, 9 Docks & Wharves 569, 750, 711 Electricity 44, 124, 126, 200, 221, 237, 297, 299, 341, 369, 537 Engineering Companies 219 Estates 204, 564 Explosives/nitrate 538, 540 Express Companies 721 Finance 121 Food & Drink 20, 135, 193, 194, 205, 205A, 214, 248, 250, 314, 357, 530 Foundries 356 Gas 233, 302, 506, 575 Government 36-38, 165-168, 211, 212, 253-257, 265, 266, 269, 270, 271, 318, 375-381, 577-579, 581, 584, 585, 589, 591, 592, 604, 606, 607-609, 612-615, 633, 644, 648, 651, 679-686 hotels 35, 45, 556, Insurance 137, 138, 142, 336, 567, 599 Iron 672 Judaica 40-43

Land 122, 175 Lumber 195 Military 92, 109-111, 206, 705 Mining 8, 10, 12, 144, 150, 161, 172, 173, 176, 178, 182, 184, 319, 328, 331, 359, 362, 364, 492-504, 573, 601, 713-715, 717-719 Mortgage 295, 296, 632, 677 Motor Cars/Cycles 90, 146, 224, 272-291, 293, 308-310, 360, 371, 488-491 oil 32, 230, 342, 505, 594, 628, 712 Photography 549-551 Piers 354, 475-485 Plantations 347, 629 Ports and harbours 28, 151 Printing 539 Public Works 294, 638 Publicity 251 Publishing 5 Railways 4, 49- 55, 58-68, 81-83, 89, 162, 163, 186, 189-192, 203, 232, 234, 235, 320, 321, 350-353, 390-408, 559, 586, 587, 595, 597, 598, 610, 611, 619, 620-626, 645, 660-668, 690-704, 727 Retail 536 Rubber 226 Shipping 140, 170, 171, 315-317, 329, 368, 409-470, 546-548, 566, 639, 646, 707-710 Shops 555 Sport 245, 640 Steel 545, 545 Sulphur 323, 363 Tea 145 Telephone 227, 596, 641 Textiles 123, 143, 249, 358, 365, 533, 637, 670 Theatre/Entertainment 239, 338, 339, 529, 554, 558 Thermal Establishments 238, 252, 325 Tobacco 164, 215, 327, 532, 674, 675 Tramways 180, 225, 236, 568, 572, 643 Trust Companies 136, 197 Waterworks 131, 507-509 Page 3

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INTERNATIONAL BOND AND SHARE SOCIETY

–– LONDON BOURSE –– Sponsored by Antiquepapermoney.com

Saturday 21st May 2011 Bourse Hours 10.30 am to 4.00 pm (Dealer set-up at 10.00 am)

IMPERIAL HOTEL – LONDON Russell Square, London WC1B 5BB All visitors are welcome.

Free entry.

Refreshments available all day.

About 20 Dealers and Auctioneers will be attending from the U.K., Germany, France and other countries.

Your ideal opportunity to add to your collection.

For further information please contact either Mike Veissid (mveissid@spink.com) or Bruce Castlo (auctions@scripophily.org)

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May 20, 2011 - London

FRIDAY 20 MAY 2011 commencing at 10.00 a.m.

All Sales are subject to the Conditions of Business printed at the back of this catalogue Estimates The 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 Cataloguing Dates 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.

BELGIAN CONGO

AFRICA 1 British Africa: an accumulation of certificates (34) from South Africa, Rhodesia, Gold Coast, nigeria and kenya, 1890 to 1950, some duplication, including northern Transvaal Lands Co. Ltd., 18[90] (3 examples); Total Gold Extraction Co. Ltd., 10 shares, 189[6[; hector Gold Mining Co. Ltd., 190[7]; East Gwanda Mines Ltd., £100 debenture, 1905; Bundum (nigeria) Tin Areas Ltd., 19[12] (4 examples); Paardeberg Diamond Mines Ltd., 19[06]; Lace Diamond Mining Co. Ltd., 190[2], and Frank Smith Diamond Estates & Exploration Co. Ltd., 19[21], mixed condition, fine to about very fine. (34) £160

2 Comptoir Colonial Belge de l’Equateur, pair of certificates for ordinary and preference shares, Bruxelles 1920, colourful pieces with riverside village, palm trees and steamship, red and yellow and red and green, with coupons, very fine to extremely fine. (2) £50

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Bonds and Share Certificates of the World

FRENCH COLONIAL AFRICA

5 Beira Post Ltd., £1 shares, 1[899], no.30, issued to Companhia de Mocambique, ornate border, redbrown, extremely fine. £50 The first newspaper in Mozambique, first published in 1893, restarting in 1898 after a short interlude. It was published in both English and Portuguese and issued it’s final edition in 1917 at the height of the European War.

REUNION

3 The Anglo-African Produce Company, two 100 francs shares, 1897 and 1898, no. 1794 and 4399, brown and blue respectively, ornate borders, arms at top centre, vignette with harbour scene at low centre, almost extremely fine and extremely fine (2) £50

6 S.A. de la Rivière des Roches, nominative share of 100 francs, St.Denis 1890, no.4457, lovely design of a factory alongside the river with a bridge in foreground, palm trees with sacks and boxes of produce including tapioca and starch, about extremely fine. £140

MOZAMBIQUE SIERRA LEONE

4 Beira Junction Railway (Port Beira to Fontesville) Ltd., bearer certificate for 10 shares, 1895, no.5838, signed by the Trustees, ornate border incorporating vignette of steam locomotive at bottom, orange and blue, stamped cancelled, with coupons, almost extremely fine. £50 Registered 1895 to build the railway from the harbour of Beira to Fontesville, where it joined the Beira Railway Co. Ltd., in the territory of the Portuguese controlled Mozambique Company. Voluntary liquidation 1930 and acquired by the Beira Railway Co. Ltd. www.spink.com

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7 Sherbro Trading Syndicate Ltd., £1 shares, 190[8], no.98, hippopotamus in centre with small vignettes of steamship and steam train at either side, ornate border, green and black, pink underprint, gold seal, good very fine. £100

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SOUTH AFRICA 8 A useful selection of certificates from South Africa, comprising Transvaal Prospecting Company Limited, 1889; Eastleigh Mines Limited, 1895 (3); orange River Estates Company Limited, 1896 and Sheba Gold Mining Company Limited, 1924; Rhodesia, comprising British South Africa Company, 1924 and 1955; Somerset (Matabele) Development Company Limited, 1900; Antenior (Matabele) Gold Mines Limited, 2 types, 1899 and 1900; Bartissol Gold Mining Company Limited, 1899 and new Rhodesia Mines Limited, 1909 (4) and 1910; Gold Coast, comprising Andrews’ Wassau Concessions Syndicate Limited, 1901 (2); Claude’s Ashanti Goldfields Limited, 1901 (2, fully paid, 1 part paid), and lastly Mozambique, Great Gold Zone Mining, Exploration & Estate Co. Ltd., 1890, fine to very fine, several better. (23) £150

11 Rose Deep Limited (S.A.R.), bearer warrant for 5 shares of £1, London 19[11], capital £425,000 overprinted with £700,000 in black, allegorical female in centre, ornate border, red and black, text in English and French, printed by Waterlow & Sons, with coupons, a couple of very small edge tears at top, very fine. £50 9 Cape of Good Hope Diamond Mining Co. Ltd., bearer warrant for 5 shares of £5, 1881, no.1602, vignette of miner, repeated in embossed seal, ornate border, printed by Blades, East & Blades, mauve, with coupons, good very fine. £80

12 Transvalia Land Exploration and Mining Co. Ltd., a set of 4 specimen certificates from the Bradbury, Wilkinson & Co. archive for 1, 5, 10 and 25 shares of £1, 18- (circa 1890), ornate borders, arms with flags at top, text in English, French and German, black with brown, green, blue and pink underprints respectively, with coupons, small hole cancels, generally extremely fine. (4)

10 Rand Selection Corporation Ltd., a group of 5 specimen certificates for 1, 5, 10, 25 and 50 shares of 5/-, 19- (annotations for 1937), from the Bradbury, Wilkinson & Co. archive, vignette of mine works in centre, ornate borders, brown, red, lilac, green and blue respectively, text in English and French, with coupons, small holes in signature areas, generally extremely fine. (5)

£120 13 Zuid-Afrikaansche Vuurhoutjes-Fabrieken, 1000 gulden share, 1st series, Gravenhage 1899, no.016, ornate border, brown, with coupons, extremely fine. £150

£75 Page 7

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Bonds and Share Certificates of the World

EGYPT & THE MIDDLE EAST EGYPT 14 A collection of Egyptian certificates, comprising Egyptian Commercial and Trading Co. Ltd., £20 shares, 1865; Boulangerie Mecanique hygienique d’Egypte, 100 franc share, 1899, attractive border with several vignettes; Egyptian Land and General Trust Ltd., 100 shares of £1, 190[7], large format piece with vignette of crocodile by riverbank; Egyptian Land Investment Company, founders share, 1905, oxen and plough at top; Egyptian Delta Light Railways Ltd., £100 debenture, 1904, very large format; Egyptian Markets Ltd., 5 shares of £1, [1907], and, other certificates (8), mixed condition but most are very fine and several much better. A useful lot. (14)

16 Agricultural Bank of Egypt, 31⁄ 2 % Bonds, a set of 3 specimen scrip certificates for £20, £100 and £500, 9th May 1904, scrollwork at left and right, grey, red and mauve, with counterfoils, extremely fine or nearly so. (3) £100 17 Agricultural Bank of Egypt, a set of specimen scrip certificates for 50, 100, 500 and 1000 shares of 4% cumulative preferred shares of £10 from the Bradbury, Wilkinson & Co. archive, 1905, plain printing with small amount of scrollwork, blue, green, orange and brown respectively, with counterfoils, small hole cancels, generally extremely fine. (4) £120

£200

18 Agricultural Bank of Egypt, a set of specimen scrip certificates for £100, £1000 and £10,000 of 31⁄ 2 % bonds, from the Bradbury, Wilkinson & Co. archive, november 1904, plain printing with small amount of scrollwork, red, brown and green respectively, with counterfoils, perforated CAnCELLED, generally extremely fine. (3) £100

19 Anglo-Belgian Company of Egypt Limited, a specimen bearer warrant for 100 shares of £2 10s each, from the Bradbury, Wilkinson & Co. archives, numbered D000, circa 1910, vignette of steam train passing pyramid, ornate border, red and black, with coupons, extremely fine and a rare denomination of which no issued examples have been seen.

15 Agricultural Bank of Egypt, a set of 4 specimen scrip certificates for 1, 5, 10 and 25 4% preferred shares of £10, 16th november 1903, scrollwork at left and right, blue, green, orange and brown, with counterfoil, extremely fine. (4)

£100 £120

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May 20, 2011 - London 22 Crédit Hypothécaire Agricole d’Egypte, 31⁄ 2 % Mortgage bond, £E50, 1936, a specimen certificate from the Bradbury, Wilkinson & Co. archive, large format, vignette of oxen and plough, ornate border, text in French and Arabic, green, black and pink, with coupons, red Bradbury Specimen stamp, extremely fine. £80

20 Boulangerie Mecanique Hygienique d’Egypte, 100 franc share, Alexandria 1899, no.4666, extremely attractive border comprising vignettes of agricultural scenes and ears of wheat, yellow-brown, with coupons, a tiny bit of spotting otherwise extremely fine. £50

23 Egyptian Delta Light Railways Limited, a specimen 4% debenture for £100, 19-, from the Bradbury, Wilkinson & Co. archives, large format piece, vignette of Sphinx, ornate border, red and blue, printers’ annotation for 1914, overprint in green making the debenture irredeemable and increasing the interest rate to 5%, with coupons, very fine to extremely fine. £60 This issue of debentures commenced in 1897 and it is these earlier certificates which are seen on the market.

This later issue which is very similar but with adjusted text is much more difficult to find.

21 Crédit Hypothécaire Agricole d’Egypte, 31⁄ 2 % Mortgage bond, £E50, 1936, a specimen certificate from the Bradbury, Wilkinson & Co. archive, large format, vignette of oxen and plough, ornate border, text in French and Arabic, red-brown, black and orange, with coupons, overprinted SPECIMEn, extremely fine. £80 This and the following lot appear to be exactly the same apart from the colours. We assume that the following lot was the final print as this was the specimen distributed to banks and agents. No issued examples have been seen to confirm this.

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Bonds and Share Certificates of the World 26 National Bank of Egypt, a group of sepecimen scrip certificates for 1, 5 and 10 shares of £10, July 1904, from the Bradbury, Wilkinson & Co. archive, fairly plain format with scrollwork at either side, blue, green and orange respectively, with panels for 1st, 2nd and 3rd payment instalments, with counterfoils, capital £2,500,000, extremely fine. (3) £100 27 National Bank of Egypt, a set of 3 specimen scrip certificates for 1, 5 and 10 shares of £10, 13th June 1905, capital £3,000,000, from the Bradbury, Wilkinson & Co. archive, scrollwork at left and right, blue, green and orange-brown, with counterfoils, extremely fine. (3)

24 Magasins et Entrepôts de Minet-el-Bassal S.A., ordinary share of £E20, 1895, a specimen certificate from the Bradbury, Wilkinson & Co. archives, ornate border and underprint, brown and black, with coupons, tiny hole cancels in signature areas, small tear at bottom right edge, about extremely fine.

£100

£100

28 Port Said Engineering Works S.A.Egyptienne, certificate for £E4 shares, undated but must be 1920’s, no.100, plain ‘English’ style printed in black, but with ornate border of small swastikas, stamped CAnCELLED, fine to very fine and rare. £50

29 Sednaoui Zariffa Nahas & Co. Ltd., a set of specimen certificates for 1, 5, 10, 25, 50 and 100 deferred shares of 1 shilling, 190- (annotations for 1907) from the Bradbury, Wilkinson & Co. archive, vignette of pyramid with palm trees in the foreground, ornate borders, black with mauve, brown, red, orange, green and blue borders respectively, with coupons, small hole cancels, numbered 0000, generally extremely fine. (6)

25 National Bank of Egypt, a set of 3 specimen scrip certificates for 1, 5 and 10 shares of £10, 1903, capital £2,000,000, from the Bradbury, Wilkinson & Co. archive, scrollwork at left and right, blue, green and orange-brown, with counterfoils, extremely fine. (3)

£500

£100

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30 Sidi Salem Company of Egypt, certificate for 25 shares of £4 sterling, Alexandria 1909, no.4835848382, attractive piece with steam tractors and plough in field, ornate border, red and black, printed by Waterlow & Sons, with coupons, several endorsements on face and stamped CAnCELLED twice, a little creased at edges but fine to very fine. £80

33 Soc. Égyptienne de Ciment Portland Tourah-Le Caire, 10 shares of £E4, very unusual piece with Egyptian figures on architectural design surmounted by the sun and horus with outstretched wings, multicoloured, with coupons, stamped CAnCELLED, very fine to extremely fine. £100

31 Societe Anonyme du Béhéra, a specimen bearer warrant for 5 preference shares of £5, Alexandria 1905, from the Bradbury, Wilkinson & Co. archives, large format piece with vignettes of river scene and oxen in field, ornate border, brown and black, with coupons, printers annotation at top dated 1907, good very fine. £100 32 Soc. d’Etudes et de Recherches de Pètrole et d’Ozokérite à Marsa-Matrouh (Maurice N. Léon, Georges A. Peristiano & Co.), nominative certificate for shares of £E4, Alexandria 1930[1], no.352, ornate scrollwork border, blue and pale blue, single centre fold otherwise about extremely fine. £80

34 Soc. Générale de Pressage et de Dépôts, a pair of certificates for 1 and 5 shares of £E2, Alexandria 1957, very large format with lovely borders with pyramids, steam train, ships at dockside, warehouses and factories, yellow and black and blue and black, with coupons, text in French and Arabic, stamped CAnCELLED, some ink smudging at right, more pronounced on the first piece, from the overprint, very fine. (2) £80 Page 11

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Bonds and Share Certificates of the World

MOROCCO

35 Upper Egypt Hotels Company, certificate for 10 shares of E£4, Cairo 1922, no.5050, ornate border, orange and black with blue underprint, text in English and French, with coupons, very fine. £50

37 Gouvernement Impérial du Maroc, 1914 5% Loan, bond for 500 francs, Rabat 1914, no78250, large format piece with vignettes around the Moorish borders of city views such as Casablanca and Marrakesch, mauve, yellow underprint, text in French and Arabic, with coupons, good very fine. £60

IRAQ 36 Iraq Government, 31⁄ 2 % Loan of 1947, a specimen bond for 100 dinars from the Bradbury, Wilkinson & Co. archive, ornate border, coat of arms at top, text in Arabic with English on the reverse, brown, blue underprint, with all coupons, overprinted SPECIMEn in red, good very fine.

PALESTINE

£80

38 Government of Palestine, pair of bearer bonds for £P10, second issue, Jerusalem April 1945 and third issue, Jerusalem, May 1945, ornate borders, green and mauve respectively, text in English, Arabic and hebrew, with coupons; together with an American depositary receipt for shares dated 1969, very fine. (3) £50

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May 20, 2011 - London 41 Jewish Colonial Trust (Juedische Colonialbank) Ltd., ordinary bearer share of £1, 1[901], no.22332, vignettes in each corner of the wailing wall, agriculture and industrial scenes, blue and black, yellow underprint, with coupons from number 1 (rare), together with envelope and 2 documents relating to the Building Fund of the Relief Committe for Refugee Rabbis, good very fine and scarce thus. (4) £100 42 Jewish Colonial Trust (Juedische Colonialbank) Ltd., ordinary nominative share of £1, 1[901], no.56945, vignettes in each corner of the wailing wall, agriculture and industrial scenes, blue and black, yellow underprint, with coupons from number 1 (rare), good very fine and scarce thus. £100 43 Jewish Colonial Trust (Juedische Colonialbank) Ltd., ordinary share certificate, 1[903], no.82624, vignettes in each corner of the wailing wall, agriculture and industrial scenes, blue and black, yellow underprint, with coupons, good very fine.

39 J.P. Sheridan (Levant) Ltd., pair of certificates for £P1 preference shares, 19[39], no.6 and £P1 ordinary shares, 19[43], no.21, both issued to the same shareholder in Cairo, ornate borders, red and blue respectively, English on the obverse, Arabic on the reverse, filing holes at left margin, very fine and rare.

(2)

£60

£100 The company was registered in Palestine, sometime in the 1930’s with a fairly small capital of only £P10,000. This is the first time these have been offered at auction.

44 Palestine Electric Corporation, a group of three specimen certificates from the Bradbury, Wilkinson & Co. archive, all circa 1921, 8% participating preference shares of £1, 41⁄ 2 % second redeemable cumulative preference stock, London Register, and ‘A’ ordinary stock, Principal Register, large format pieces with ornate borders, text in Arabic, English and hebrew, blue, red and brown respectively, the first with red Bradbury specimen stamp, the others overprinted SPECIMEn in red, corners slightly bent otherwise about extremely fine. (3)

40 Jewish Colonial Trust (Juedische Colonialbank) Ltd., ordinary bearer share of £1, 1[901], no.22331, vignettes in each corner of the wailing wall, agriculture and industrial scenes, blue and black, yellow underprint, with coupons from number 1 (rare), good very fine and scarce thus.

£150

£100

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Bonds and Share Certificates of the World x48 A group of 6 Chinese bonds, comprising 1907 5% Canton-kowloon Railway, £100, punch hole at top; honan Railway 5% Gold Loan, 1905, £100; 1898 41⁄ 2 % Gold Loan, £100, issued by the hongkong and Shanghai Banking Corporation, and, 1903 5% ‘Emprunt Chinois’, 500 francs, 1907 issue, repaired tear at right; 1908 41⁄ 2 % Gold Loan, bonds for £20, issued by the Banque de L’Indo-Chine, better than usual condition, and £100, issued by the hong kong and Shanghai Banking Corporation, this has a couple of small holes in the body, the rest fine to very fine unless stated. (6) £150 45 Palestine Hotels Ltd., bearer warrant for 25 shares of £1, 19[30], no.3472, ornate border, blue, text in Arabic, English and hebrew, with coupons, 3 red impressed Palestine duty stamps, not to be confused with the more common piece, about very fine with some slight discolouration. £60

ASIA CHINA Foreign Loans x46 A collection/accumulation of Chinese bonds, comprising 1896 5% Gold Loan, £50, cancelled; 1903 5% Gold Loan ‘Emprunt Chinois’, 500 francs, 1905 (3) and 1907 (3); 1903 5% Shanghai nanking Railway, first issue 1904, £100, repaired tear, and second issue, 1907, £100; 1907 5% Canton kowloon Railway, £100; 1908 5% Gold Loan, £100, hole at bottom left; 1908 5% Tientsin Pukow Railway, £100, English issue, colour oxidised; 1912 5% Gold ‘Crisp’ Loan, £100; 1913 51⁄ 2 % Province of Petchili, £20 (3 examples); 1919 ‘Vickers’ Loan, £100; 1922 8% Railway Equipment Loan, £20 (4 examples); 1925 5% Gold ‘Boxer’ Loan, $50 (6); 1936, 6% Shanghai hangchow ningpo Railway Completion Loan, bonds for £50 and £100, this with small hole and creasing at top left; 1938 Tientsin Pukow Railway Funding certificate for £12 (3), and, miscellaneous fractional and other certificates (14), mixed condition but generally fine to very fine, some better. (46) £500 x47 An accumulation of certificates of companies operating in China, comprising Compagnie Financière Belgo-Chinoise, founders shares, 1926 (6) and $50 shares, 1926 (10) and unissued (2); Compagnie Générale de Chemins de Fer et de Tramways en Chine, 250 franc share, 1920 (51), hole cancelled; Compagnie de la Chine et des Indes, 500 francs share, 1921; Soc. Belge d’Entreprises en Chine, 500 franc shares, 1924 (3 cancelled and one uncancelled which is scarce); Cie de Tramways & d’Eclairage de Tientsin, ordinary share, 1919 (4), and, other certificates (7), mixed condition but mostly very fine to extremely fine. (85)

£350 50 1903 5% Shanghai-Nanking Railway, a group of 15 bonds for £100, first issue 1904, large format, red and black, with coupons, a few with edge tears and old repairs, several are very fine. (15) £250

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49 1899 Chinese Imperial Railway Gold Loan, bond for £100 issued by the British and Chinese Corporation Ltd., large format piece with ornate border, brown with pale blue underprint, with coupons, a couple of tiny edge nicks otherwise good very fine and better than usual for this issue; together with China, 1898 41⁄ 2 % Gold Loan, £100, hongkong and Shanghai Banking Corporation; 1905, honan Railway, 2nd issue, 1906 (2 examples); 1911 hukuang Railways, £100 (2), issued by the hongkong and Shanghai Banking Corporation; Russia, City of St.Petersburg, 1913, £20 bonds (10), and other certificates (11), mixed condition, generally fine and very fine. (17)

£300

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51 1905 Imperial Chinese Government 5% Gold Loan (Peking-Hankow Railway), an unissued 500 franc bond, ornate border, green and black with yellow underprint, with all coupons, with counterfoil, extremely fine and rare.

53 1905 5% Honan Railway Loan, £100 bond, second issue, 1906, no.7465, large format, ornate border, black, blue-green and yellow, coupon sheet stuck at right edge, a lovely clean extremely fine but with paper fold error at bottom left. £500

52 1905 Honan Railway 5% Gold Loan, a group of 12 bonds for £100, first issue, large format, ornate border, black, blue-green and yellow, with coupons, mixed condition, a few edge splits, one or two repaired with tape, fine to very fine. (12)

£150 54 1907 5% Canton Kowloon Railway, bond for £100, no.12570, large format, ornate border, red and black, printed by Waterlow & Sons, with coupons, centre fold otherwise about extremely fine. £100

£450 55 1907 5% Canton Kowloon Railway Loan, £100, left edge a little ragged, about very fine; 1908 Tientsin Pukow Railway £100 bonds issued by Chinese Central Railways (5), generally very fine and better; Bulgaria, 7% settlement Loan, 1926, £100 bonds (3, one in frame), 71⁄ 2 % Stabilisation Loan, £100 bonds (2); City of St. Petersburg 8th Loan, 1913, £100 bond (2, one in frame); Troitzk Railway Company, 41⁄ 2 % bonds for £100 (2), and, China, 1925 Boxer Loan, bond for $50, framed, fine to very fine unless stated, the framed pieces somewhat discoloured. (16) £250

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x56 1908 5% Gold Loan, bond for £100 issued by the hongkong and Shanghai banking Corporation in 1909, no.A011287, walled city of Peking at top, mauve and black, printed by Waterlow & Sons, no coupons remain as usual, good very fine and a good example of this issue. £100

60 1908 5% Tientsin Pukow Railway Loan, bond for £100, £50 paid, issued by Chinese Central Railways Ltd., no.23169, large format, orange and black, printed by Waterlow & Sons, with replacement coupons, small edge nick at left, very fine. £150

x57 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indochine in 1909, no.B071375, walled city of Peking at top, green and black, printed by Waterlow & Sons, no coupons remain as usual, better than good very fine and an excellent example of this issue.

61 1908 5% Tientsin Pukow Railway Loan, a group of 20 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, mauve and blue, with coupons, a few with small edge tears but generally very fine and better. (20) £80

58 1908 5% Tientsin Pukow Railway Loan, a group of 20 bonds for £100, issued by Chinese Central Railways Ltd., large format, orange and black, printed

by Waterlow & Sons, with coupons, a few edge tears but mostly about very fine. (20)

£400 62 1908 5% Tientsin-Pukow Railway Loan, a group of 20 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, ornate border, brown with green underprint, with coupons, generally fine to very fine.

(20)

£600 59 1908 5% Tientsin Pukow Railway Loan, bond for £100, £50 paid, issued by Chinese Central Railways Ltd., no.19848, large format, orange and black, printed by Waterlow & Sons, with replacement coupons, repairs at top and left edges, fine.

63 1910 5% Tientsin Pukow Railway Supplementary Loan, a group of 15 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, green and mauve, with coupons, a few with small edge tears but many very fine and better. (15) £60

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£600

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May 20, 2011 - London 64 1910 5% Tientsin Pukow Railway Supplementary Loan, a group of 12 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, green and red, with coupons, generally very fine and better. (12) £400

68 1911, 5% Railway Loan, a set of 4 bonds for 100, 500, 1000 and 5000 yen, issued by the Yokohama Specie Bank, ornate borders, Chinese dragons at top, blue, mauve, orange and green respectively, with coupons, the first and last a little creased at edges, small edge tear on the 100 yen, very fine, the 500 and 1000 yen are almost extremely fine. A scarce set. (4) £1,000

65 1911, 5% Hukuang Railways Sinking Fund Gold Loan, bond for £20, issued by the hongkong and Shanghai Banking Corporation, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, good very fine. £80 66 1911 5% Hukuang Railways Sinking Fund Gold Loan, a group of 5 bonds for £100, issued by the hongkong and Shanghai Banking Corporation, large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, one has a torn corner and has been framed otherwise very fine or better. (5) £200 67 1911 5% Hukuang Railway Sinking Fund Gold Loan, a group of 30 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, vignette of steam train at top, green and black, printed by Waterlow & Sons Ltd., with coupons, with the exception of 2 or 3 pieces, very fine or better. (30) £600

69 1912, 5% Gold ‘Crisp’ Loan, bond for £1000, no.182, ornate border, red and black, with coupons, staple holes at top edge and at right, folds and creases but nearly very fine. £600 Page 17

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Bonds and Share Certificates of the World

74 1913 5% Reorganisation Gold Loan, an unissued bond for £100, Deutsch-Asiatische Bank, from the reserve stock, blue and black, with coupons, extremely fine and new to the market.

70 1912 5% Gold Loan ‘Crisp’, bond for £500, no.1129, large format piece with ornate border, brown and black with pale blue underprint, red ‘chop’, ‘Bond drawn’ sticker attached at top left, with coupons, a couple of pinholes at top edge and extreme bottom edge a little creased otherwise good very fine and clean. One of the best of this denomination we have seen for some time.

£500

£300

£50

71 1912 5% Gold ‘Crisp’ Loan, a group of 25 bonds for £100, large format, ornate border, turquoise and black, with coupons, generally fine to very fine. (25) £600 72 1912 5% Gold ‘Crisp’ Loan, a group of 25 bonds for £20, large format, ornate border, blue and black with yellow underprint, with coupons, mixed condition but most are very fine and several much better. (25)

73 1912 5% Gold ‘Crisp’ Loan, bonds for £100 (4) and £20 (5); 1913 Lung Tsing U hai Railway, bonds for £20 (4) and, 1919 8% ‘Vickers’ 10-Year Treasury notes, £100 bond, mostly very fine or better. (14) £250

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76 1913 5% Reorganisation Gold Loan, a group of bonds for £100 (10) and £20 (6), all issued by the hongkong and Shanghai Banking Corporation, Mercury at top, peasant farmers at left, building at right, blue and brown respectively, with coupons, a good clean group, generally very fine or better. (16) £1,800

£500

www.spink.com

x75 1913 5% Reorganisation Gold Loan, bond for £20, issued by the Russo-Asiatic Bank, green and black, text in English, German, French and Russian, with coupons, good very fine.

77 1913 5% Reorganisation Gold Loan, a group of bonds for £100 (3) and £20 (10), all issued by the hongkong and Shanghai Banking Corporation, blue and orange-brown respectively, with coupons, one of the £100’s has been framed otherwise generally very fine.

(13) £800

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May 20, 2011 - London 78 1913 5% Reorganisation Gold Loan, £100 bonds (5), and £20 bonds (2), all issued by the hongkong & Shanghai Banking Corporation; together with 1925 5% Gold ‘Boxer’ Loan, bonds for $50 (50), all with coupons, many with ‘drawn’ notices attached, mixed condition, a few have some edge tears but the majority are very fine and better. (57) £900 79 1913 5% Reorganisation Gold Loan, bonds for £100 and £20 (5), issued by the hongkong and Shanghai Banking Corporation, vignette of Mercury at top, Chinese building at right, peasant workers at left, blue and brown respectively, with coupons, very fine and better. (6) £300 80 1913 5% Reorganisation Gold Loan, £20 bonds (4), issued by the hongkong & Shanghai Banking Corporation (2), Russo Asiatic Bank (2), one brown and one green; together with other Chinese bonds (8) including honan, 1905, £100; Tientsin Pukow Railway, 1908, £100, English; hukuang Railways, 1911, £20, English and £20, French; 1913 Lung Tsing U hai Railway, £20; 1922 Railway Eqipment Loan, £20; Banque Industrielle de Chine, 3rd issue, 1920, one issued and one unissued, and others (10), mixed condition, fine and very fine. (22)

84 1918, 8% Treasury Bill, ‘Marconi’ Loan, bond for £500, ornate border, red and black, yellow underprint, with coupons, split at fold, very fine for issue. £200

£250 81 1913 5% Lung Tsing U Hai Railway Loan, a group of 20 unissued bonds for £20 from the reserve stock, large format, blue and black, text in French and English, not numbered or signed but with 2 red ‘chops’, with all coupons and counterfoil, generally extremely fine and better. £200 82 1913 5% Lung Tsing U Hai Railway Loan, a group of 20 unissued bonds for £20 from the reserve stock, large format, blue and black, text in French and English, not numbered or signed but with 2 red ‘chops’, with all coupons and counterfoil, generally extremely fine and better.

85 1918, 8% Treasury Bill, ‘Marconi’ Loan, bond for £1000, ornate border, red and black, yellow underprint, with coupons, tear at top edge, split at fold, small spike hole at top left, fine. £300

£200 83 1913 5% Lung Tsing U Hai Railway Loan, a group of 20 unissued bonds for £20 from the reserve stock, large format, blue and black, text in French and English, not numbered or signed but with 2 red ‘chops’, with all coupons and counterfoil, generally extremely fine and better. £200

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Bonds and Share Certificates of the World

90 1925 8% ‘Skoda’ Loan, bond for £1000, no.26463, ornate border, red and black, ‘chop’ in centre, with coupons, extremely fine.

86 1919 6% 2-Year Secured Gold Loan, $1000 bond, no.3385, vignette of pagoda at top, orange and black, printed by the American Bank note Company, with coupons, good very fine.

£300

£400 87 1919 6% 2-Year Secured Gold Loan, $1000 bond, no.4797, vignette of pagoda at top, orange and black, printed by the American Bank note Company, with coupons, good very fine. £350 88 1919 8% 10-Year Sterling Treasury Notes (Vickers Loan), a group of 14 bonds for £100, vignette of dockside, green and black, with coupons, mixed condition but mostly very fine. (14) £200 89 1922 8% Railway Equipment Loan, a group of 10 unissued reserve stock bonds for £20, large format with steam train in centre, blue, text in French and English, with red ‘chops’ but not numbered or signed by the administrator, with all coupons and counterfoil, extremely fine. (10) £250 91 1934 6% Sterling Indemnity Loan, bond for £50, vignette of Sun Yat Sen at top, brown and blue with green underprint, with coupons, extremely fine. £250 www.spink.com

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Internal Loans

x92 1912 Provisional Government, 8% Public Loan for the Military Requirements of the Republic, bond for 5 dollars, no.58671, ornate border, brown and green with red ‘chop’ in centre, text in Chinese with English on the reverse, with coupons, about extremely fine. £120

x94 1915 Chung Hwa Revolutionary Party, Fund Raising Bond, 10 yuan, 3rd series, no.50138, only partly issued as usual, facsimilie signature of Sun Yat Sen, ornate border, orange, good very fine. £300

95 1925, 8% Funding Bond of the Ministry of Communications, bond for $1000, no.3682, ornate border, mauve and black, red ‘chop’ in centre, adhesive tax stamp at top left, text in Chinese with English translation on the reverse, with coupons, extremely fine and rare.

x93 1914 3rd Year 6% National Loan, bond for 10 dollars, no.223035, ornate border, brown and red with pale blue underprint, text in Chinese with English on the reverse, 2 coupons remaining, pieces missing at left and right edges, remains of mount on the reverse, fine but rare.

£150 £250

A similar example but in very fine condition sold in our Hong Kong sale at HK$5500 (£458) in January 2011.

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Bonds and Share Certificates of the World

x96 1941 Nationalist Government Air Force Salvation Loan, bonds for $5 and $50. central vignette of monoplane, ornate borders, brown and green respectively, the second is scarce, together with other internal issues (5) including 1942 Allied Victory US Dollar loan, $100, one piece has a tape repair in centre otherwise very fine and better. (7) £150 97 1947 36th Year U.S. Gold Bond, $50, first issue, no.2335, Chiang kai Shek at top right, green and red, text in Chinese with English on the reverse, with coupons, extremely fine.

100 1955 National Economic Construction Loan, a presentation book of uniface obverse and reverse specimen bonds for 10,000, 20,000, 50,000, 100,000, 500,000 and 1,000,000 yuan, ornate borders and Chinese characters for the first three denominations, excavator, combine harvester and steelworks for the remainder, all numbered 0000000, green cloth covers, with Government Printing Bureau on the front, slight ageing but extremely fine condition.

(12) £400

£50 x98 36th Year (1947) Short-Term Treasury Notes; a group of bonds comprising First Issue, US$10 (2), US$50 (2) and Second Issue, US$10 (3), all small format with vignette of kiang kai-Shek at right on the 1st issue and left on the 2nd issue, text in Chinese with English on the reverse, with coupons, generally about very fine or better. (7)

101 1956 National Economic Construction Loan, a presentation book of uniface obverse and reverse specimen bonds for 1, 2, 5, 10, 50 and 100 yuan, similar designs to the last in different colours brown card covers, red cloth spine, with Government Printing Bureau on the front, some worm holes with some reinforcment of the inner pages. (12) £300

£150 99 1954 National Economic Construction Loan, a presentation book of specimen bonds for 10,000, 20,000, 50,000, 100,000 and 500,000 yuan, vignettes of combine, truck, steelworks, harvest and steam train, with coupons, tipped on to 5 different pages, blue cloth covers, with Government Printing Bureau on the front in silver, pages browned and affected by worm, occasionally touching the margins of the bonds, pages have been laid down on white paper and re-inserted, the covers also with some worm holes. (5) £300 102 1957 4% National Economic Construction Loan, an attractive presentation book of uniface obverse and reverse specimen bonds for 1, 2, 5, 10, 50 and 100 yuan, vignettes of harvesting, lumber, surveying, road transport, a newly built dam and a factory complex, varying shades of reds and browns, all numbered VII 0000000, with coupons, brown card covers, with Government Printing Bureau on the front, several of the inner pages have worm holes, sometimes just touching the margin of the bonds, similarly the covers with some worm holes but otherwise very fine. (12) £300 www.spink.com

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May 20, 2011 - London 103 1958 National Economic Construction Loan, a presentation book of uniface obverse and reverse specimen bonds for 1, 2, 5, 10, 50 and 100 yuan, similar to the last but without the coupons, all numbered VIII 0000000, brown card covers, with Government Printing Bureau on the front, many pages with worm holes especially the later pages, some just into the margins of the bonds, the covers also with considerable wormholes otherwise very fine. (12) £300

Provincial Loans

x105 Chihli Province, 6th Public 8% Loan, 1926, bond for 10 dollars, no.17934, ornate border, blue, black and red with green underprint, text in Chinese with English on the reverse, with coupons, small split at fold and top right corner with minor damage at tip. £150

x106 Hunan Province, 1933 4% Loan, bond for 500 yuan, no.000098, small format, ornate border, mauve and red with yellow underprint, text all in Chinese, with coupons, very fine and rare.

x104 Chihli Province, 5th Loan, 1926, bond for 10 yuan, rather crude design with ornate border, black with yellow underprint, text all in Chinese, red ‘chop’ in centre, good very fine.

£300 £150

Two of this previously unrecorded denomination were found in the Goudey collection. The first was sold for HK$4200 (£336) in our Hong Kong sale and this is the only other remaining piece.

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Bonds and Share Certificates of the World x109 Kwantung Province, 1938 4% Military Loan, a group of bonds comprising 5 yuan (25), 10 yuan (31) and 100 yuan (20), vignettes of warships and onshore battery at left, aerial dogfight at right, blue, brown and mauve respectively, with coupons, generally very fine and better, some with rusty paper clip marks. (76) £250 x110 1938 Kwangtung 4% National Defence Loan, a group of bonds for 10 yuan (40) and 100 yuan (10), ornate borders, blue, red and black and mauve, red and black respectively, with coupons, mostly very fine to extremely fine but a couple have rusty clip marks at the top edge. (50) £200 x111 Kwangtung Province, 1932 National Defence Loan, a group of 50 bonds for 10 yuan, small format, vignette in centre of field with trees in background, brown, red and black with pale green underprint, generally very fine and better. (50) £150 x107 Hupeh Province, 20th Year (1931) 8% Rehabilitation Loan, bond for 10 dollars, no.13517, Sun Yat Sen in top centre flanked by flags, ornate border, mauve, blue and red with yellow underprint, text in Chinese with English on the reverse, good very fine.

Municipal Loans

£200

112 Shanghai Municipal Council, 6% loan of 1926, registered debenture for 100 taels, no.19786, dated 1939 and overprinted in red DUPLICATE CERTIFICATE, vignette of municipal buildings, yellow and black, printed by Waterlow & Sons, stamped with 1943 amendment, good very fine and scarce. £100 113 Shanghai Municipal Council, 5% loan of 1937, registered debenture for $100, no.1622, vignette of municipal buildings, yellow and black, printed by Waterlow & Sons, stamped with 1943 amendment, good very fine.

x108 Hupei Province, 24th Year (1935) 6% Loan, a set of 3 bonds for 5, 10 and 100 yuan, attractive borders with Sun Yat Sen in blue at top right, motor cars being driven along country roads at bottom, various colours, all with red ‘chop’ marks and coupons, all have rust marks at the top left, otherwise very fine. (3)

£100

£80 www.spink.com

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May 20, 2011 - London 117 Bank of Hindustan, China & Japan Limited, £100 ‘new’ Share, 18[64], no.17959, coat of arms in centre, scrollwork at left, black on mauve paper, embossed seal, perforated with various repayments on share, minor discolouration in places, about extremely fine. £120

114 Shanghai Municipal Council, 5% loan of 1937, registered debenture for $500, no.570, vignette of municipal buildings, blue and black, printed by Waterlow & Sons, stamped with 1943 amendment, very fine. £120

Commercial and Industrial

x118 Canton Da Sheng Faeces Clearing Company, share certificate, 1935, large format piece with ornate borders, floral designs at top corners, brown and black, text all in Chinese, adhesive revenue stamps, red ‘chops’, very fine and an extremely unusual subject. £500 A similar piece sold in our Hong Kong auction for HK$7000 (£580) earlier this year.

x115 Bank of China, certificate for 10 shares of 100 yuan, 1917, ornate border and underprint, red and black, 4 pages, text all in Chinese, very fine and scarce. £500

119 Chung Wai Bank Ltd., share certificate, circa 1920, no.206 ornate border, brown and black with yellow underprint, company name in English at top and in embossed seal, very fine. £200 120 Compagnie Commerciale Sino-Européenne, 500 franc share, Paris 1921, no.85, of only 300 issued, ornate border, blue with yellow underprint, with coupons, very fine and scarce. £50

116 Bank of Hindustan, China & Japan Limited, £100 share, 18[63], no.661, issued to William Frederick Baring, coat of arms at top, black, some toning and top edge somewhat creased, about very fine. £150 Page 25

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Bonds and Share Certificates of the World

121 Comptoir Charles Ley S.A., pair of bearer certificates for 1000 Chinese dollars, Brussels 1923, and, with increased capital, 1925, ornate borders, blue and yellow, with coupons, about extremely fine. (2) £250 The company was headquartered in Peking but administered from Brussels. The original share capital was 200 shares of 1000 dollars each which was doubled in 1925 by a new issue of certificates. As far as we can ascertain this Belgian finance house represented many Belgian businesses trading in China.

£200

122 Crédit Foncier Chinois, ‘part bénéficiaire’, Paris 1910, no.4651, ornate border, black, green underprint, text in French and Chinese, with coupons, almost extremely fine. £50

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123 Deutsch-Chinesische Seiden-Industrie-Gesellschaft (German-Chinese Silk Company), anteilschein for 500 marks, Berlin 1905, no.2019, ornate border, black, orange and brown, top left corner cut away as cancellation, minor repairs, slightly trimmed but fine to very fine and scarce; together with a genuss-schein, Berlin 1905, no.0158, ornate border, blue and black, some foxing around edges, very fine. (2)

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x124 Fu Li (Welfare) Electric Lamps Co., $100 shares, 1932, very large format piece with ornate floral border, building flying red flag at top, green and brown, text all in Chinese, red ‘chops’, a rusty pin mark to the right of the building, very fine and scarce. £400 A similar piece was sold in our Hong Kong sale for HK$4800 (£400) earlier this year.

126 L’Energie Electrique de Tientsin, 7% bond for $100 (local currency), 1939, no.2705, large format piece with ornate border, text all in French, mauve with pale green underprint, with coupons, very fine. £120

125 Huilerie & Savonnerie de L’Extreme - Orient, 100 franc share, Marseille 1912, no.0937, ornate border, mauve and black, with coupons, couple of small splits at bottom edge, good very fine. £50

127 New Oriental Bank Corporation Ltd., a group of 10 bearer warrants for 1 share of £10, 188[5], black with green underprint, with coupons, about extremely fine. (10) £200 Chartered as the Oriental Bank Corporation in 1851 mainly to allow competition with the East India Company but later opened branches in the Chinese treaty ports, Hong Kong, Japan, Mauritius and South Africa.

Survived the banking crisis of 1865/6 and prospered until 1885 when it ran into severe difficulties and had to be re-constituted as the above. The Bank lost its profitable note issuing priviledge and with the growth of other banks, such as the Hong Kong & Shanghai and the Chartered, the new organisation never really prospered and it closed its doors in 1892.

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128 Oriental Bank Estates Co. Ltd., a pair of specimen ordinary share warrants for 1 and 10 shares of £1, London 1887, from the Bradbury, Wilkinson & Co. archives, allegorical females flanking company monogram, blue and black, with coupons, hole cancelled, both with mount marks at left edge otherwise near extremely fine. (2) £120 Formed to acquire assetts of the bankrupt Oriental Bank Corporation which included thousands of acres of plantation land in Ceylon and Mauritius.

132 Schantung-Eisenbahn-Gesellschaft (Shantung Railway Company), 1000 mark share, series P, Berlin 1923, #92461, ornate border, green with yellow underprint, no coupons, good very fine.

129 Oriental Bank Estates Co. Ltd., a pair of specimen preferred share warrants for 10 and 20 shares of £5, London 1887, from the Bradbury, Wilkinson & Co. archives, allegorical females flanking company monogram, orange-brown and black, with coupons, hole cancelled, both with mount marks otherwise near extremely fine. (2)

£80

£120 130 Pekin Syndicate Limited, bearer warrant for 1 shansi share of £1, 19[11], no.A14894, large format piece with vignette in centre of railway and city view, ornate border, green and black on yellow paper, text in English and French, with coupons, very fine.

133 Schantung-Eisenbahn-Gesellschaft, 100 reichmark share, Berlin 1929, no.14128, ornate border, brown, green and orange, no coupons, extremely fine, Concession granted to German interests in 1897 to build a line from Tsingtau to Tsinanfu. £50

£50 131 Shanghai Waterworks Fittings Co. Ltd., 1 tael shares, 19[35], no.S1143, ornate border, brown and black, about very fine. £60

134 Soc. Française d’Explorations Minières en Chine, 100 franc share, Paris 1903, no.2367, ornate border, green, with coupons, extremely fine. £60 Company owned the gold and mercury mining concession in Koei-Tchéou province and the mining concession over a silver-lead mine in Hunan province. www.spink.com

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May 20, 2011 - London 138 Union Insurance Society of Canton Limited, a specimen certificate for £10 shares, hongkong 19(circa 1922), attractive piece with text in English, scrollwork at either side, black, imprint of henry S. king of London as printer but found in the Bradbury, Wilkinson & Co. archive, with counterfoil, annotation for 1922, beautiful watermarked paper with company name in English, capital £2,000,000 sterling, small nick at right edge, extremely fine and rare. £120 x135 Société Franco-Chinoise de Distillerie de Hankou, 100 tael share, hankeou [1911], no.2321, attractive piece with text in both Chinese and French, dragons at each side, ornate border, green and black, with coupons, small tear at left, slight discolouration at edges from framing, mounted on reverse, very fine.

INDOCHINA

£300 A similar piece but in extremely fine condition sold at approximately £1600 in our January Hong Kong sale.

x136 Taipei Trust Company Ltd., a pair of certificates for 1 and 10 shares, date 1920’s, ornate border, brown and green respectively, very fine. (2) £50

139 Banque de Cochinchine S.A., 250 franc nominative share, [1908], no.5638, very striking design of golden sun in the centre with vignettes of buildings, workers in rice field, boats on river and stylised dragon, black on red paper, text in Chinese and French, has been mounted on the reverse at top corners, good very fine. £200

137 Union Insurance Society of Canton Limited, a specimen certificate for 1250 dollar shares, hong kong 19- (circa 1902), attractive piece with text in English and Chinese within scrollwork at either side, black, imprint of henry S. king of London as printer but found in the Bradbury, Wilkinson & Co. archive, with counterfoil, annotation for 1902, beautiful watermarked paper with company name in English and Chinese, capital 2,500,000 dollars, extremely fine and rare.

INDIA

£150

140 Indian Shipping and Maritime Companies; a collection comprising Merchants’ Steam Tug Co. Ltd., 500 rupee share, 1874; oriental Inland Steam Co. Ltd., £10 shares (2 types), 185[65] and 1860; Irrawaddy Flotilla Co. Ltd., 1928; hooghly Docking & Engineering Co. Ltd., 1000 rupee debenture, 193[5], and a group of certificates of the India General navigation and Railway Co. Ltd. (6), all different, but with similar vignette of river steamer, printed by Waterlow & Sons, stamped cancelled, mixed condition, fine to about very fine. (11) £100 Page 29

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Bonds and Share Certificates of the World 141 Indian Banking Certificates, comprising Agra Savings Bank, 100 rupee share, 18[88]; Rohilkund & kumaon Bank Ltd., 100 rupee shares, 18[90]; kolhapur & Southern Maratha Bank Ltd., 50 rupee share, 19[10]; new oriental Bank Corporation Ltd., 100 rupee share, 188[8]; Industrial Bank of Western India Ltd., 100 rupee shares, 19[20], and Imperial Bank of India, 500 rupee shares, 19[36], this cancelled, generally very fine and better and several scarce. (6) £120 141A Merchants’ Steam Tug Co. Ltd., 500 rupee share, 1874; together with other Indian certificates (13) including Central India Iron & Brass Foundry Ltd., 1920; Pioneer Indian Paint & oil Works Ltd., 192[0]; Pyne hughman & Co. Ltd., 191[6]; Railway Service Press Ltd., 188[8]; Malabar Timber Co. Ltd., 19[20], vignettes of logging operations in each corner; Malabar Forests & Rubber Co. Ltd., 19[21], elephant in underprint, others (7), including 3 unissued, those listed are generally very fine, the remainder mixed condition. (14)

144 Indian Mining Companies, a collection comprising Wentworth Gold Mining and Indian Estates Co. Ltd., 188[7]; Tambracherry Estates & Wynaad Gold Mining Co. Ltd., 188[2]; kalyanpur Behar Gold Mining Co., 1891; Sonapet Proprietary Gold Mining Co. Ltd., 1891, spike hole at top left corner; Dumra Gold Prospecting Syndicate Ltd., 1890, small holes in top right corner; Bengal Gold & Silver Mining Co., 100 shares, 189[6] and 100 rupee debenture, 1893; Dharwar Reefs Co. Ltd., 190[8]; Indian Glenrock (Wynaad) Co. Ltd., 19[05], fine; Rassuan Coal Co. Ltd., 19[19], and, Indo-Burma oilfields (1920) Ltd., 19[22], very fine or better unless stated. (11) £100

£100

145 India & Ceylon Tea and Coffee Companies; kousanie Tea Co. Ltd., 100 rupee shares, 187[4]; kursiong & Darjeeling Tea Co. Ltd., 50 rupee shares, 18[97]; Coorg Coffee Estates Co. Ltd., £10 shares, 189[1915]; Polli Baetta Coffee Estates Co. Ltd., £10 shares, 189[1917]; Panora Tea & Produce Co. Ltd., £1 shares, 19[23], and Rajawella Produce Co. Ltd., first mortgage debenture stock, 19[31], the second and last are cancelled, about very fine and better. (6) £100

142 A nice group of Indian Insurance Companies, Bombay Fire Insurance Co. Ltd., 1000 rupee share, 189[6], no.61; Great India Fire Insurance Co. Ltd., 20 rupee shares, 191[9], no.1007, map of India in heart shaped logo at left; British India General Insurance Co. Ltd., 100 rupee share, 19[19], no.42720; Indian Globe Insurance Co. Ltd., 50 rupee shares, 193[1], no.325, ornate border, Britannia and lions at top left, and Crescent Insurance Co. Ltd., 100 rupee shares, 192[1], no.189, Soma, the moon god, rides his chariot over a crescent moon, the last with a few small repaired edge tears, otherwise very fine and better. (5) £100

146 Anglo American Motor Car Co. Ltd., 10 rupee shares, 192[0], black, red and yellow; together with other Indian certificates (13), including Dwarka Cement Co. Ltd., 192[1], attractive multicoloured piece; Lunawada Shri Sir Wakhatsinghji Factory Co. Ltd., [1921], Indian gentleman in centre, multicoloured; oriental Inland Steam Co. Ltd., 185[8]; Crescent Insurance Co. Ltd., 192[1]; Dharwar Reefs Co. Ltd., 190[8]; kursiong & Darjeeling Tea Co. Ltd., 18[97]; new oriental Bank Corporation Ltd., 188[91]; India General navigation and Railway Co. Ltd., 500 rupee debenture, 1915, vignette of river steamer, and others (5), mixed condition but many are very fine and a useful lot. (14) £140

143 A good selection of Indian Textile Companies, including Fazulbhoy Mills Ltd., 190[7]; new Ahmedabad new Spinning & Manufacturing Co. Ltd., 189[5]; Empress Spinning & Weaving Co. Ltd., 18[84]; kalyanmal Mills Ltd., 192[2]; Wadia Woollen Mills Ltd., 1921; Premier Mills Ltd., 1917; Goosery Cotton Mills Co. Ltd., 189[6]; Apollo Mills Ltd., 19[20]; Broach Fine Counts Spinning & Weaving Co. Ltd., 1918; Saraswali Ginning and Manufacturing Co. Ltd., 1921; Bombay Industrial Mills Co. Ltd., 1920; Maharani Woollen Mills Ltd., 19[21], and others (10), mixed condition but generally fine to very fine.

(22) £150

147 Bombay Talkies Ltd., 100 rupee shares, 193[40]; together with other Indian/Burmese certificates (13) including Bengal Printing Co. Ltd., 100 rupee share, 1861; British India General Insurance Co. Ltd., 100 rupee share, 19[19]; new Mofussil Co. Ltd., 100 rupee share, 1891, this only fair condition; Jamshed Manufacturing Co. Ltd., 250 rupee share, 18[96]; kursiong & Darjeeling Tea Co. Ltd., 50 rupee shares, 18[97] and Suburban Land Development Co. Ltd., Rangoon, 193- (fully issued but date omitted in error), and others (7), mixed condition but generally fine to very fine. (14) £100

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May 20, 2011 - London 148 Imperial Paper Mills Co. Ltd., a group of 24 certificates for 100 rupee shares, Calcutta 189[2], black, adhesive duty stamp, slight discolouration as is usual with Indian paper, all but a handful are very fine or better. (24) £150 149 no lot 150 Sonapet Proprietary Gold Mining Co. Ltd., a group of 30 ordinary share warrants for 100 shares of 1 rupee, 1890, scrollwork at left, black, printed in Calcutta, red embossed or adhesive duty stamp, mixed condition, several a little toned but generally very fine.

(30) £150

JAPAN

152 Ville de Tokyo (City of Tokyo), 5% Loan of 1912, bond for 500 francs, no.24710, large format piece with vignette of tree lined river with small sailing vessel, electric tram in left border, power station in right border, green and black, printed by Waterlow & Sons, with coupons, centre fold otherwsie very fine. £100 151 Osaka City Harbour Construction Loan, 6%, 1933, bond for 1000 yen, no.00739, vignette of harbour view, ornate border, red and black, text in Japanese with English on reverse, with coupons, very fine and rare £250

153 L. Leybold A.G., 10 shares of 50 yen, Showa 5 (1930), vignettes of Meiji Jingu, the Shinto shrine in Tokyo at left and hamburg river scene at right, ornate border, blue and black with yellow underprint, extremely fine. £120

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158 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), bearer certificate for 50 shares of 50 yen, 1906, no. 319151-200, ornate border, black, pink underprint, full text in Japanese and English, with coupons, good very fine.

154 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), bearer certificate for 5 shares of 50 yen, 1906, no. 203321-325, ornate border, black, green underprint, full text in Japanese and English, with coupons, about very fine.

£200

£100 155 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), bearer certificate for 10 shares of 50 yen, 1906, no. 212761-770, ornate border, black, yellow underprint, full text in Japanese and English, with coupons, very fine.

159 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), 10 shares of 50 yen, 1922, red and yellow, very fine and scarce. £50

MALAYA £120

156 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), bearer certificate for 10 shares of 50 yen, 1906, no.213431-213440, large format piece with ornate border, black with yellow underprint, text in English and Japanese, lacks coupons, good very fine. £100 157 Nippon Kogyo Ginko (Industrial Bank of Japan Ltd.), bearer certificate for 20 shares of 50 yen, 1906, no. 262901-920, ornate border, black, blue underprint, full text in Japanese and English, with coupons, very fine. £120

160 Malaya: a good selection of certificates comprising Temelong hydraulic Tin Mining Co. Ltd., 10 shares of $10, Singapore 18[99], no.72, green and red, with coupons; Perak Marble Co. Ltd., $100 shares, Singapore 19[00], no.103, green, ragged bottom edge, both with Singapore/Straits duty stamps; Ulu Pahang Ltd., $500 shares, 190[9], no.9, FMS duty stamp; Menglembu Lode Mining Co. Ltd., $1 shares, 192[4], no.141, Penang impressed duty stamp but adhesive stamp has been removed; Selangor Plantations Co. Ltd., one share of £1, 19[37]; Pahang Central Tin & Exploration Co. Ltd., 5 shares of £1, 18[90]; Bentong “Straits Tin” Co. Ltd., £10 share, 18[89]; ketchau (Pahang) Corporation Ltd., £1 shares, 18[91], top right corner missing; Sempam Tin Mines Ltd., £1 shares, 190[10]; Redhills Tin Mining Co. Ltd., £1 shares, 19[05], bottom left corner missing; Seletar Rubber Estates Ltd., £1 shares, 191[8], and, Teja Malaya Tin dredging Co. Ltd., £1 shares, [1930], generally fine or very fine. (12) £150

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NETHERLANDS INDIES

THAILAND/SIAM

161 Societe Miniere “Hermina” S.A., 40 shares of £1 or 12.50 florins or 25 francs, La haye 1902, no.3340133440, attractive piece with vignettes of placer mining in top corners and dredge at bottom, blue-green and red, with coupons, very fine to extremely fine. £50

165 Royal Siamese Government, 6% Sterling Loan of 1924, bond for £50, no.A793, large format piece with steam train and rice field with arms in centre, brown and black, printed by Waterlow & Sons, small hole cancels and overprinted CAnCELLED with red stripes on face, centre fold otherwise about extremely fine and rare. £200

PHILIPPINES

166 Royal Siamese Government, 6% Sterling Loan of 1924, bond for £100, no.B5068, large format piece with steam train and rice field with arms in centre, red and black, printed by Waterlow & Sons, small hole cancels and overprinted CAnCELLED with red stripes on face, centre fold otherwise about extremely fine and rare. £200 167 Royal Siamese Government, 6% Sterling Loan of 1924, bond for £500, no.C22859, large format piece with steam train and rice field with arms in centre, mauve and black, printed by Waterlow & Sons, small hole cancels and overprinted CAnCELLED with red stripes on face, good very fine and rare. £250

162 Manila Railway Co. (1906), Ltd., ‘B’ debenture Bonds, a set of 4 specimen bonds for £20, £50, £100 and £200, dated 1907, from the Bradbury, Wilkinson & Co. archive, large format pieces with vignettes of steam engine and tender, green, orange, blue and red respectively, with coupons, small hole cancels, numbered 00000, very fine to extremely fine. (4) £150 163 Manila Railway Co. (1906), Ltd., ‘A’ debenture Bonds, a part set of 3 specimen bonds for £20, £50 and £100, dated 1908, from the Bradbury, Wilkinson & Co. archive, large format pieces with vignettes of steam train crossing bridge, mauve, green, and brown respectively, with coupons, small hole cancels, numbered 00000, very fine to extremely fine. (3) £100 168 Royal Siamese Government, 6% Sterling Loan of 1924, bond for £1000, no. D23280, large format piece with steam train and rice field with arms in centre, blue and black, printed by Waterlow & Sons, small hole cancels and overprinted CAnCELLED with red stripes on face, centre fold otherwise about extremely fine and rare.

164 Compañia General de Tabacos de Filipinas, 500 peseta share, 1882 (2 examples), attractive border of allegorical figures and cherubs, brown and black, good very fine or better; together with other companies operating in the Philippines and Malaysia (7) including Manila Railway Company (1906) Ltd., £50 bond, 1907, mixed condition, fine to very fine. (9) £100

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Bonds and Share Certificates of the World 169 Siam Company Ltd., £1 shares, fully paid, [1899], no.511, scrollwork at left with elephant standing right, black, text in English and French; together with other Siamese pieces comprising Malaya & Siam Corporation Ltd., £1 shares, 190[7], no.69, fine; Gold Fields of Siam Ltd., 50 shares of £1, 18[89]; Eastern Siam Tin Dredging Ltd., £1 shares, 2 types, 19[26] and 19[27], edge tears; Pattani Consoidated Alluvial Tin Ltd., 5/- shares, 19[27], and Soc. des Mines d’or de Watana, founders share, Paris 1894 and 100 franc share, Paris 1895, generally very fine and better unless stated. (8) £100

AUSTRALASIA

174 Australian Land and Agricultural Companies: Anglo-Australian Investment Finance & Land Co. Ltd. (of Sydney), £100 debenture, 18[91], large format, vignette of emu and kangaroo, only good fine; Land Company of Australasia Ltd., £5 shares, [1891], vignette in centre, black on green; Australian Co. Ltd., £1 shares, 188[2]; Derwent harbour Estates Ltd., £100 debenture, 1917; Queensland Investment and Land Mortgage Co. Ltd., ordinary stock, 1917; Land Company of Australasia Ltd., £100 debenture, 1889; British Australian Wool Realisation Association Ltd., £1 shares, 192[1]; Soc. Forestière FrancoAustralienne, 100 franc share and founders share, both 192[1], vignettes of sheep and logging, and, modern companies (3), mixed condition, fine to very fine. (12) £100

AUSTRALIA 170 Australasian Pacific Mail Steam Packet Company, a group of 8 certificates for £20 share, 1852 (7 examples) and 185[2], scrollwork at left, black, 7 are extremely fine, the last very fine. (8) £200 171 Australian Royal Mail Steam Navigation Company, certificates for one share, 1852 (2 examples), scrollwork at left, black on blue paper, extremely fine. (2) £60

175 Australian Land and Mortgage Companies: Union Mortgage & Agency Company of Australia Ltd., £6 ordinary shares, Melbourne Register, 18[91], no.71, black on buff paper; Belmore Land Co. Ltd., £100 share, 188[6], no.84, green and gold with pink underprint, rusty clip mark at top; Sir Joseph Banks Estate Ltd., £50 shares, 19[13], no.39, black on green paper; Australian Cities Investment Corporation Ltd., £1 shares. 1[904], no.357, green, filing holes at bottom; Pastoral Finance Association Ltd., £5 shares, 19[12], no.1246, vignette of sheep, brown, burn marks at top edge; Australasian Mortgage & Agency Co. Ltd., ordinary shares, 19[04], no.104, black, and, a receipt of the Real Estate Mortgage & Deposit Bank Ltd., 18[90], generally about very fine. (7) £100 176 Australian Mining Companies (12), comprising Great Cobar Ltd., £5 shares, 190[14], 3 different bearer warrants for 5 shares, 190[11], 10 shares, 190[7], 20 shares, 190[7]; Great oriental Gold Mines Ltd., 5/- shares, 190[9]; Mitchell’s Creek Gold Mines Ltd., £1 shares, 190[4]; Mount Elliott Ltd., bearer warrants for 5 shares, 19[12] and 25 shares, 19[11], both fine; new Inkerman Mines Ltd., £1 shares, 189[0], edge tears; Queensland Copper Co. Ltd., 10 shares of £1, 19[06]; Southern Coal Company of new South Wales Ltd., £1 shares, 18[89], and, Union Consolidated Copper Mines nL, 10 shares of £1, 19[06], mixed condition, fine to very fine or better. (12)

172 Australian Gold Mining Companies (9), comprising Booth’s United Gold Mines Ltd., £1 shares, 189[1900], fine; Gleeson’s Success Gold Mines Ltd., £1 shares, 1[896] and 1897, 2 different capital structures, fair and fine; Great South Peak Gold Mine Co. nL, £10 shares, 19[09], very fine; new Cornish Gold Mines Ltd., 1/- shares, 191[0], very fine; new Explorers Syndicate Ltd., £1 shares, 189[6], good very fine; South Mount Lyall Mining Co. Ltd., £2 shares, [1896], very fine, and Westralian Mines Development Syndicate Ltd., ordinary and deferred shares, both 192[0], both trimmed, fine to very fine. (9)

£120

£120 177 Greyhound Racing Club Ltd., £1 shares, 19[33], no.374, black, small edge tears at top edge; kuring-gai Recreation Co. Ltd., £1 shares, 190[7], no.62, black; The Greater J.D. Williams Amusement Co. Ltd., 50 shares of £1, 19[12], no.3513, black on yellow paper; together with other miscellaneous Australian companies (28), 1900 to 1960’s, including Fremantle Trading Co. Ltd., £1 shares, 19[09]; Australian Cities Investment Corporation Ltd., 1[905]; Automatic Telephones (Australasia) Ltd., 191[1], with small vignette of early telephone at left; Australian Coking and By-Products Co. Ltd., 19[12]; Bibur Furs Ltd., 19[27] and Stackpool’s Crystal Co. nL, 192[0], all from an old collection and generally fine to very fine, some better. (31)

173 Australian Gold and Copper Mines (10), comprising Associated Gold Fields of the northern Territories Ltd., £1 shares, 190[4]; Barrier South Ltd., 2/- shares, circa 1918; Cardiff Castle Gold Mines Ltd., £1 shares, 189[5]; Carrington’s United Mines Ltd., 5/- shares, 190[6]; hannan’s napier Gold Co. Ltd., £1 shares to bearer, 18[95]; Murchison Goldfields Ltd., 5/- shares, 189[5]; Paramatta Copper Mines Ltd., 1 share to bearer, 1[902]; South Mount Lyall Mining Co. Ltd., 10 shares to bearer, 189[900]; Swedenborg north (Charters Towers) Gold nL, 1/shares, 193[8], and, Whim Well Copper Mines Ltd., bearer warrant for one share of £1, 191[0], generally fine to very fine, several better. (10) £150 www.spink.com

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178 Kalgoorlie Mint and Iron King Gold Mines Ltd., £1 shares, fully paid, 1[901], no.3773, attractive but small vignette of mine in centre, ornate border, scrollwork left, green, about very fine. £60

180 North Sydney Investment and Tramway Company Ltd., 41⁄ 2 % debenture for £100, Sydney 1889, no.2131, large format, mauve, grey-green underprint, with coupons, a couple of tone spots, good very fine. £50 The company was formed to take advantage of the demand for land in the 1880s, purchasing much land in the area around Northbridge. A bridge and tramway were planned to encourage building private dwellings.

The suspension bridge took two years and nine months to build at a cost of £42,000 and was opened in January 1892. The span of 500 feet was considered a feat of engineering, being the fourth largest in the world at the time. Liquidated in 1892 and tramway never built. The bridge was taken over by the Government.

179 New Central Investment Corporation Ltd., bearer warrant for one founders’ share of 10/-, 189[8], no.A2715, ornate border, black, printed by Waterlow & Sons, with coupons, good very fine. £50

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181 Societe Forestiere Franco-Australienne, a group of 10 certificates for 100 franc shares, Paris 1921, photographic vignettes of felled timber and sheep, steamship in centre, ornate borders, black and blue, with coupons, extremely fine. (10)

185 New Zealand Agricultural Co. Ltd., £20 shares, 188[8], no.1084, scrollwork at left, black, printed by Waterlow & Sons, about very fine. £50 £140

A French company operating in Western Australia.

182 South Crinoline Amalgamated Quartz-Mining Company, £10 share, part paid, 186[6], no.144, black on pink paper, good very fine.

186 New Zealand Midland Railway Company Limited, 5% first mortgage debenture for £1000, 1889, no.C36, of only 265 issued, large format piece with ornate border, black, yellow underprint, with coupons, very fine and rare £60

£60

OCEANIA

Mine at Donnelly’s Creek, North Gipps Land (sic).

183 Southern Queensland Pastoral Co. Ltd., 7% mortgage debenture for £100, no.221, of 400 issued, large format, four pages, black, good very fine. £50

NEW ZEALAND 184 Ethel Reef Gold Mining Company Limited, 5 shilling shares, part paid, 1900 over 189-, ornate border, blue-green, about very fine. £50 A reorganisation of a company owning property in Montana, U.S.A., which was suspended and new property acquired at Stoney Creek, Hauraki District.

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187 British Oceania, a nice group of certificates comprising Caledonia Copper Co. Ltd., £5 shares, [1899], attractive piece printed by Waterlow & Sons; Caledonian Mining Corporation Ltd., £1 shares, 190[0]; nasivi (Fiji) Gold Syndicate, nL, 193[5]; Papuan Minerals Exploration Ltd., 19[11]; Papuan industries Ltd., 2 examples, 19[05] and 19[21]; Upolu Rubber & Cacao Estates Ltd., 19[11]; Laumona Corporation (British Solomon Islands Protectorate) Ltd., 19[22]; Madang Exploration nL, 192[3]; new Guinea Copper Mines Ltd., 192[4]; Frowat Gold Alluvials nL, new Guinea, 193[5]; British new Guinea Development Co. Ltd., 4 examples, 2 types, 19[10] and 19[19], and a rather poor condition certificate of Mineral Developments (Fiji) Ltd., 19[35], all except the last are generally very fine, some better. (16) £180

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May 20, 2011 - London 191 Canada Southern Railway Co., partly issued registered second mortgage bond, $1000, 18- (circa 1880), no.214, signed by Cornelius Vanderbilt Jr. as vice president, steam train at left, man waving white flag at right, green and black, hole cancelled with 2 holes through the signature, good very fine.

188 French Oceania, La nouvelle France, Colonie Libre de Port-Breton, certificate for one hectare of land, Paris (overstamped Jersey) 1879, facsimile signature of the Marquis de Rays, very ornate but small format piece with vignettes of a port, Christians preaching to natives, industrial scenes and coats of arms, blue on blue paper, small spike hole, extremely fine; together with other certificates comprising “Le nickel Calédonian”, 1905; Charbonnages de la nouvelleCalédonie, 1904; Mines du nord de la nouvelleCalédonie, 1888 (2 examples); Comptoirs Français d’océanie, 1920; Établissements n. hagen (nouvelles hébrides), 1928 (2 examples); Cie. Française de Tahiti, 1929 (3 examples, 2 types), and Cie. Agricole & Minière des nouvelles hébrides, 1926 (3 examples, 2 types), these have trimmed edges, all with ornate borders, several with vignettes, a colourful lot, generally very fine to extremely fine. (13)

£50

£140

CANADA

192 Newfoundland Railway Company, certificate for 10 shares of $100, new York 188[1], no.A252, attractive vignette of steam train at station, black and brown, extremely fine. £40

189 Province of Canada, County of Oxford, £100 debenture, 18[51], to enable the Municipal Corporation to subscribe to stock of the Great Western Railroad Company, no.109, lovely vignette of the young Queen Victoria, flanked by lion and unicorn, steam train below, black, with coupons, good very fine. £120 190 Canadian Railways and Tramways, comprising newfoundland Railway Co., 10 shares, 188[3], attractive vignette of steam train at station, black and brown; Inverness Railway and Coal Company, nova Scotia, first mortgage gold bond, $500, 1902, steam train at top, green and black; South Winnipeg Ltd., 10 shares, 1913; Atlantic, Quebec and Western Railway Co., first mortgage bond, £100, 19[09], and Algoma Bondholders Joint Committee, trust certificate, 191[2], about very fine to extremely fine. (5)

193 Canadian North Pacific Fisheries Ltd., a set of certificates for 5, 10, 25, 50 and 100 shares of $5, 1911 or 1912, beached whale and whaling vessel, green with yellow underprint, printed by Waterlow & Sons, very fine or better. (5) £150

£80

194 Canadian North Pacific Fisheries Ltd., $5 ordinary shares, a group of certificates for 5 shares, serial letter ‘D’ (5), 10 shares, serial letter ‘C’ (10), 25 shares, serial letter ‘B’ (36), 50 shares, serial letter ‘A’ (19) and variable quantity, no serial letter (2), all 19[11] or 19[12], very attractive pieces with vignette of beached whale and fishing boat, blue green with yellow underprint, printed by Waterlow & Sons, mostly very fine and better. (72) £700 Page 37

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EUROPE AUSTRIA 199 City of Vienna, 1931 Gold Loan, a group of bonds for 100 Swiss francs (7), 200 Swiss francs (51) and 250 Swiss francs (14), ornate border, text all in German, blue, green and brown respectively, with coupons, noT CAnCELLED, very fine and better. (72) £200 200 Steirische Wasserkraft und Electrizitäts AG (Styrian Water Power and Electricity Co. Ltd.), 6% First Mortgage Gold Bonds, 1930, a group of bonds for $100 (27) and $250 (16), ornate borders, green and red respectively, text in English, with coupons, noT CAnCELLED, very fine and better. (43)

195 Canadian Western Lumber Co. Ltd., pair of certificates for 50 and 100 shares of $5, 19[19] and 19[27], lovely vignette of logging and forest with river and factory in background, brown with pale green underprint, printed by Waterlow & Sons, about very fine and good very fine. (2)

£200 £80

BELGIUM 201 A collection of Belgian and Belgian Congo motor transport related certificates, comprising Ateliers de Buysinghen Véhicules Industriels Miesse, priority share of 500 francs, 1931; Automobiles Miesse et usines Bollinckx preference share, 500 francs, 1929; Minerva Motors, share, 1931, and one tenth share, 1929; Bruxelles-Automobile, founders share, 1926; Cie. gen. des Autobus, dividend share, 1909, motor bus at bottom; Autobus Belges, 100 franc share, 1923, motor buses in street scene; Garage du Moulinfounders share and 500 franc share, both 1944, and, Soc. des Messageries Automobiles du Congo, unissued certificates for 100 franc share and 1000 franc bond, both 1927, very fine to extremely fine. (11)

196 Compagnie Française du Yukon, 100 franc share, 1899, no.1245, ornate border with miner, iron master, mills, tools and coats of arms, brown with yellow underprint, with coupons, very fine to extremely fine.

£50 £50

197 Dominion of Canada Trust Corporation Ltd., bearer warrant for 50 deferred shares of 1 shilling, London, 19[10], no.B2, large format piece with ornate border, beaver gnawing a branch left and coat of arms and flag at right, brown and black, text in English and French, with coupons; together with a nominative certificate of the same company for £1 ordinary shares, 5 shillings paid, 19[10], no.168, steam train at left, beaver at right, coats of arms in scrollwork at left, blue; Dominion Trust Ltd., £1 shares, fully paid, 190[4], no.86, globe at top behind title, black, good fine to very fine. (3) £60 198 A collection/accumulation of Canadian certificates (68) including newfoundland Railway Co., 10 shares 188[3], and Canadian Marconi Co., 1935, a little duplication, several with vignettes, mixed condition, fine to very fine. (68) £200 www.spink.com

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205 Compagnie Generale de Panification, 100 francs share, Bruxelles 1896, no. 02298, vignette with sowing and harvesting scene at top margin, farmer tools and bakery machinery at left, spikes of wheat at right, with coupons, almost extremely fine.

202 A collection of Belgian certificates, comprising Compagnie des Installations Maritimes de Bruges, 500 franc preference share, 1904, very attractive multicoloured piece with city views and winged allegorical female, 2 examples, one uncancelled the other with two hole cancels; Belgian Eastern Junction Railway Company, 5 shares (2) and 10 shares (1), 1852, one lacking coupons, other certificates (11), the first two are extremely fine otherwise generally fine to very fine, some better. (16)

£80

£200 203 Belgian Eastern Junction Railway Company, a group of 25 certificates each for 5 shares of £5/25 francs, 1852, lovely coat of arms in centre, black on pink paper, text in French and English, with coupons, very fine to extremely fine. (25)

205A Etablissements Usaneaux S.A., 500 franc share, Saint-Gilles 1924, no.1521, ornate border with leaves and fruit listing the companies products, such as ‘Vins’, Champagnes, Liquers, Cacao, Cafes and Thes, blue with yellow underprint, with coupons, extremely fine. £50

£300 204 Compagnie d’Exploitation d’Immeubles S.A., 5 shares of 100 francs, no.9141-9145, and 5 dividend shares of no par value, no.5501-5505, Bruxelles 1904, vignette of store at bottom right, the archangel Michael slaying the devil after the painting by Raphael at bottom left, scrollwork and floral borders, with coupons, green and red-brown, very fine and better.

(2) £50

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206 Le Combat Naval, 50 franc share, Brussels 1899, no.17423, very attractive piece with naval battle at the bottom, warship at right, sailor to the left, blue, with coupons, extremely fine. £120

208 Société Anonyme des Usines Delin, 100 franc preference share, Louvain 1898, no.5468, very attractive piece with vignettes of automobile and cyclists at bottom, wheel and coat of arms at top left, green and pink, with coupons, about very fine. £60 A factory producing cycles and motor cars until 1901 when the factory was acquired by Mathieu.

207 Scheldebank, Antwerp, a pair of certificates, 200 frank share and stichtersaandeel (founders share), both 1923, no.s 601 and 2926 respectively, large format pieces with vignettes of Antwerp and the river, factories, railway sidings, tools and coat of arms of the city, blue and yellow and blue and pale blue, with coupons, good very fine, the first with a couple of tiny nicks at left edge. (2) £75

209 Société Royale de Zoologie d’Horticulture et d’Acrement de Bruxelles, nominative certificate for 1 share, 1859, no.2420, classic design with stone archway with various animals including a tiger, snake and crocodile, black, yellow underprint, a few tone spots at top edge, very fine. £180 The zoo was founded in 1851. Shares exchanged for City of Brussels bonds in 1878.

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BULGARIA 210 A small collection of Bulgarian certificates, comprising Banque par Actions ‘napredak’ a Pleven, 1918; Credit Co-operative ‘Worker’, 100 leva share, 1928; Credit Mutual Savings Joint Stock Company ‘Flag’, 100 leva share, 1919; First Bulgarian Leather Company, 100 leva share, 1895; Premier Sociétée Bulgare d’Assurances ‘Bulgaria’, 100 leva share, 1929; Shumen Commercial Bank, 100 leva share, 1921; Shumen Savings Company ‘Futurity’, 100 leva share, 1918; Société Textile par Actions ‘Iskar’, 20 shares of 100 leva, 1919; Sofia Popular Bank - Credit Cooperative Company, certificates for 10 shares and 50 shares, 1940, and two others, several with vignettes, generally very fine or better and a colourful and attractive lot. (12) £100

213 Assenovetz Fabrique de Biere, 1000 leva share, Sliven 1921, no.1096, attractive design with hops at either side, ornate border, text in Bulgarian and French, with coupons, about extremely fine. £50

214 Bulgaria Soda and Lemonade Company, 100 shares of 100 leva, 1932, very attractive and colourful piece with peasants, wine bottles, soda syphons and bunches of fruit and berries, with coupons, very fine. £150 211 Kingdom of Bulgaria, 71⁄ 2 % Stabilisation Loan of 1928, bond for £500, no.00466, large format piece with allegorical female at top seated on throne, green and black, printed by Bradbury, Wilkinson & Co., with coupons, tiny edge tear at bottom left margin, otherwise good very fine. £80 212 Kingdom of Bulgaria, 71⁄ 2 % Stabilisation Loan of 1928, bond for US$500, no.D2359, large format piece with allegorical female at top seated on throne, green and black, printed by Bradbury, Wilkinson & Co., with coupons, small edge tears at left margin, otherwise very fine. £60

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CROATIA

217 Ribarskog Aktsionarckog Drushtva, certificate for 3 shares, 1924, no.1376-1378, ornate border with multicoloured vignettes of fishing boat, fish and factory, eels at bottom, with coupons, extremely fine. £60

215 Fabrique de Tabac Horizont, 500 levas share, 1921, no. 000159, design with woman smoking at top centre, tobacco leaves on borders and tobacco plantation at low centre, extremely fine. £80 216 Societe Commerciale et Industrielle par Actions P.G.Petrovitch & Cie., Sofia, 10 shares, 1000 leva, 1928 (over 1922), no.4490, attractive Art Deco design with geometric border, blue and brown, text in cyrillic and French, with coupons, hole cancelled, near extremely fine. £75

218 Zanyatska Bank, 200 dinara share, 1931, no.1114, atractive piece with large allegorical female at left holding shield and sword, worker and boy at right with blacksmiths tools, brown and blue, with coupons, very fine. £50

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CZECHOSLOVAKIA

x219 Ceskomoravska-Kolben-Danek, certificate for one share of 400 korun, Prague 1927, no.74738, very attractive design with steam engine, electric engine, motor car, turbine, tracked vehicle, iron bridge etc., brown, grey-green and pink, with coupons, about extremely fine. £100 One of the largest engineering companies formed in 1927 from the merger of two other companies.

Manufactured a motor cycle until 1929. Made machinery for the German Wehrmacht during the war and soon nationalised after hostilities ceased.

220 Czechoslovak Commercial Corporation of America, 500 korun share, 1919, series A, no.11187, designed by E. Bohac, signed and dated 1919, Statue of Liberty in the centre with coloured flags of the USA and Czechoslovakia below, American figures at left, Czech figures at right offering goods, good very fine. £100 221 V˝chodoceská Elektrárna, 500 korun share, 1924, vignettes in each corner of various power installations; together with other certificates from Czechoslovakia including “Eternitas”, 400 kroner share, 1922, and other shares, bonds and documents (10), generally very fine and better. (12) £50

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DENMARK

222 Kongelige Danske Westindiske Handels Selskab (Danish West India Company), certificate for one share of 100 riksdalers, Copenhagen 1778, no.3625, signed by Carl Heinrich Schimmelmann, Ernst Schimmelmann, Chr. L. Stemann and others, attractive vignette of allegorical figures with sailing ship, barrels of goods and beehive, black on laid paper, ink cancelled, very fine and scarce ÂŁ1,600-1,800 The company was founded in May 1778 with a capital of 500,000 Reichsdaler to trade into the West Indies and take advantage of the war between the American Colonies and Great Britain. The company flourished for a few years paying dividends of up to 40% on a regular basis and the share value was increased from 100 to 300 riksdaler. When the war was over competition grew from many other trading companies and the company struggled on until 1785 when most of the capital was lost. Liquidation took place with help from the Danish Government who issued 4% bonds to shareholders valued at 200 riksdaler each in addition to the meagre 60 riksdaler in cash that was all that was left for each share. Carl Heinrich Schimmelmann (1724-1782), born in Pomerania, started his business career trading goods such as coffee and sugar in Dresden, later obtaining lucrative contracts to supply the Prussian Army with various goods. He was asked by the King of Denmark for help in improving their trade and was appointed Superintendant of Commerce and created a Baron in 1762. He owned several plantations in the West Indies and a sugar refinery in Copenhagen. www.spink.com

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May 20, 2011 - London 223 A very interesting group of Danish certificates, including Danske Genforsikring, 1000 kroner share, 1916; Skandinavisk Assurance, 1000 kroner share, 1917; Dampskibsselskabet Jyden, 10,000 kroner share, 1925, no.44, rare; other issued certificates, 1940’s to 1970’s (14) and mostly specimen certificates (7), 1920’s to 1950’s, some with printers annotation at top, usually ink cancelled on face, a very unusual group in generally very fine condition. (24) £250

225 Gribskovbanen (Hillerød-Gilleleje, HillerødTisvildeleje), 300 kroner share, hillerød 1945, no.23, vignette of electric tram in woodland, black, blue underprint, with coupons, top edge with a few splits and somewhat ragged, otherwise very fine. £50

224 Ford Motor Company, Dansk Monteringsfabrik A-s, an unissued or specimen certificate for 1000 kronen share, 1919, plain print in black on blue-green paper, with coupons, ink cross over the entire face otherwise very fine and rare. £150

226 Gummi- og Luftringe-Fabriker (United Rubber and Pneumatic Tyre Co.), 500 kroner share, Copenhagen 1912, no.446, and 1000 kroner share, Copenhagen 1915, no.1585, vignette of the factory at top surrounded by a rubber tyre, wheels in underprint, black and yellow, with coupons, good very fine and very fine. (2) £100 Page 45

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FRANCE 229 A collection of French and Colonial certificates with a maritime theme, (20), others (46) including railways, motor cars and mining, Compagnie des Claridges hotels, 100 francs, 19[19], multicoloured, vignettes of steamship and steamtrain and 3 vellum quittances from 18th century loans, many have vignettes, some duplication, generally very fine and better. (66) £300

227 Jutland Telephone Company Limited (Jydsk Telefon Aktieselskab), 51⁄ 2 % Bonds of 1922, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archives, allegorical female at top within circle, green and black, with coupons, overprinted SPECIMEn in red across face, extremely fine. £80

£180

FINLAND

228 Maanviljelyskauppa-Oy (Agricultural Implement Manufacturing Company), 200 markkaa share, 1939, no.2261, interesting ‘art deco’ design of man and horse drawn plough, green and yellow, with coupons, adhesive revenue stamps, very fine to extremely fine. £50 www.spink.com

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230 Anglo-French Company for the Manufacture of Artificial Sperm Oil (Fullers, Desgrand & Co.), bearer certificate for 1 share of 100 francs, no.88, 1857, very attractive piece with vignettes around border of steamship, steamtrain, factory, allegorical figures, scrollwork and coats of arms, text in English and French, black with olive green underprint, with coupons, small tear at right extending 1⁄ 2 inch into the design, good very fine.

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231 Briqueteries & Tuileries d’Angervilliers S.A., 500 francs share, Paris 1917, a group of 5 certificates, art deco design of workman with factory in background

by Gaston Maréchaux, green and brown, with coupons, generally about extremely fine. (5) £120

232 Chemin de Fer de Paris à Lyon et à la Méditerranée, 6% Sterling Loan, 1922, a specimen bond for £500 from the Bradbury, Wilkinson & Co. archive, very large format piece with vignette of plaque with Latin legend ‘Ferro Conjvngit’ below, orange and black, with coupons, overprinted SPECIMEn in red, near extremely fine and rare. £80 233 Cie. du Gaz H. Riché, 500 franc share, Paris [1906], no.1961, very attractive border with gas works at bottom, blue, yellow underprint, with coupons, extremely fine. £50

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235 Compagnie du Chemin de Fer du Nord, a set of specimen bonds for £100, £500 and £1000, 1922, from the Bradbury, Wilkinson & Co. archive, ornate borders, green, blue and red respectively, text in French and English, to be countersigned by n.M. Rothschild & Sons, with coupons, generally extremely fine. (3)

234 Compagnie du Chemin de Fer de Paris a Orleans, a set of 4% sterling bonds for £100, £500 and £1000, 1935, from the Bradbury, Wilkinson & Co. archive, large format pieces with vignette of river scene and station building, green, blue and red respectively, numbered 0000, small hole cancels, generally extremely fine. (3)

£180 £300

236 Compagnie Electrique des Tramways de la Rive Gauche de Paris, 100 franc share, Paris 1899, no.76933, attractive Art nouveau design with tramcar at top, scrollwork at top and sides, green and orange, with coupons, good very fine. £50

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237 Compagnie Parisienne des Voitures Electriques (Procédés Kriéger), part bénéficiaire, Paris 1900, no.1579, lovely Art nouveau design with four of the company’s vehicles at left, brown and yellow, with coupons, extremely fine. £100 239 Etablissements Léon Volterra et Théâtre Marigny, 100 franc share, Paris 1927, no.78331, lovely design of dancer, musicians and actor, blue and yellow, stamped endorsement of reduction of capital, with coupons, extremely fine. £80 240 no lot

238 Etablissement Thermal de Forges-les-Eaux, 100 francs share, Paris 192-, no. 0, 028, 836, black and pale orange, vignette with two allegorical maidens, ornate border, with coupons, extremely fine. £50

241 Groupement National de la Baie Mont-Saint Michel, 100 franc share, Paris 1927, no.50560, very attractive piece with architectural border with vignettes of the small Island off normandy and architectural detail of the Monastery and coats of arms, blue and green, with coupons, very fine to extremely fine. £60

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242 Helice Mobile, dividend share, Paris 1863, no.2389, blue, allegorical figures at top centre, ornate border, with coupons, very fine. £100

245 L’Hippodrome, pair of certificates for 100 franc share and ‘part beneficiaire’, 1898, attractive pieces with horses heads, unicorns, fruit and scrollwork, red with green underprint and blue with yellow underprint, with coupons, extremely fine. (2) £75 246 Nouvelle Compagnie Francaise de Tabacs, 500 francs share, Paris 1876, no. 77, mauve and pale green, ornate border, allegorical figure top centre (Fortune), with coupons, very fine. £50 247 Société Anonyme Austin, a group of 52 certificates for one share of 100 francs, numbered 0001-0052, Liancourt 1923, facsimile signature of Sir Herbert Austin as president, ornate border, green with yellow underprint, with all coupons, numbers through to 36 are extremely fine and then some slight chipping develops on the remainder at the extreme left bottom corner.

243 La Cigale, 100 francs share, 1900, no. 4238, ornate border, mauve and light green, allegorical maiden at low centre, with coupons, extremely fine.

£200 £80

248 Soc. Anonyme Nicoise d’Huiles d’Olive, part beneficiare, nice 191[1], no.1614, very unusual piece with large olive branch with several olives across the top, green, brown and black with blue underprint, with coupons, near extremely fine.

244 Le Mareorama, 100 francs share, Paris 1899, no.

01344, blue and pale green, ornate border, with coupons, extremely fine. £75 www.spink.com

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252 Société Thermale des Aabatilles Arcachon (Arcachon Thermal Baths), founders share, 1925, no.564, attractive design of coastal scene with fountain in the centre, yellow and brown, with coupons, good very fine. £50

249 Societe Bretonne de Filature et Teinturerie de Laines, 500 francs share, Quimpere 1920, no. 02963, black and cream, pastoral scene, arms at top centre, with coupons, extremely fine. £50

The St.Anne Spring was found by chance in 1923 whilst drilling for oil in the region. The spring water was utilisesd for its therapeutic qualities for a few years but plans for the building of a resort were rejected in 1937.

GERMANY

250 Société des Biscuits Olibet S.A., nominative certificate for 1 founders share, Suresnes [1899], no.4244, very attractive piece with vignettes of ploughing, cutting and gathering wheat, and factory producing biscuits, blue, grey underprint, with coupons, good very fine. £50 251 Societe Generale de Publicite et d’Affiches, 100 francs share, 1910, no. 7019, dark brown and cream, vignette representing a muscle man lifting an angel with trumpet and waving flag, extremely fine. £80 x253 German Government International 51⁄ 2 % Loan, 1930, bond for $1000, no.77075, allegorical female at top, mauve and black, text in English, German and French, with coupons, stamped U.S.A. DoMICILE in red, noT CAnCELLED, very fine to extremely fine. £300

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254 1930 International 51⁄ 2 % Young Loan, Swiss issue, a group of 102 bonds for 1000 Swiss francs, large format, ornate border, mauve and black, text in German, English and French, with coupons, noT CAnCELLED, very fine to extremely fine. (102) £500

255 Konversionskasse fur Deutsche Auslandsschulden (Conversion Office for German Foreign Debts), a set of 3% bonds, 1936, 100, 500 and 1000 dollars, all with blue form TFEL-2 attached signifying that the holder is US domicile, workers flank a large block of flats, blue, green and orange respectively, with coupons, noT CAnCELLED, very fine or thereabouts. (3) £300 256 Konversionskasse für Deutsche Auslandsschulden (Conversion Office for German Foreign Debts), 3% dollar bonds, 1936, due 1946, $1000 (104 examples), worker and farm worker at top, orange and black, with coupons, noT CAnCELLED, generally extremely fine. (104) £800 257 Konversionskasse Für Deutsche Auslandsschulden, 3% dollar bonds, $1000 (4 examples), new issue, 1937, ornate border, orange and black, very fine to extremely fine. (4) £50

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258 City of Cologne, 6% Sterling Loan of 1928, a set of specimen bonds for £20, £100 and £500 from the Bradbury, Wilkinson & Co. archive, overprinted with modified terms of settlement in 1953 and twice overprinted specimen, in red, vignette of Cologne cathedral, blue, brown and red respectively, with coupons, extremely fine. (3)

260 City of Dresden, 20-Year 7% Sinking Fund Gold Bond external Loan of 1925, $1000, no.2897, allegorical figures at top, ornate borders orange and black, ABnCo., with coupons, noT CAnCELLED, small split at centre fold, very fine. £100 £300

These certificates with the modified terms were actually reprinted in a different colour to the original and exchanged for them in 1953.

259 Stadt Dortmund, 5% Swiss Franc Loan, 1926, 1000 Sfr. (13 examples), of only 1248 issued, ornate border, black, yellow underprint, no coupons remaining, red 1944 endorsement reducing the interest rate to 4%, noT CAnCELLED, very fine to extremely fine. (13)

261 City of Dresden, 20-Year 7% Sinking Fund Gold Bond external Loan of 1925, $1000, no.4239, allegorical figures at top, ornate borders, orange and black, ABnCo., with coupons, blue certificate of US ownership attached, noT CAnCELLED, split at fold, pin and staple holes, ink smudge bottom left, fine to very fine. £80

£300

262 City of Dresden, 20-Year 7% Sinking Fund Gold Bond external Loan of 1925, $1000, no.4240, allegorical figures at top, ornate borders, orange and black, ABnCo., with coupons, blue certificate of US ownership attached, noT CAnCELLED, split at fold, pin holes with tear at top left corner, fine to very fine. £80

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263 City of Duisburg, 7% Serial Gold Bond, 1925, $1000 (10 examples) bare breasted female at top, ornate borders, blue and black, ABnCo., no coupons remain, noT CAnCELLED, very fine or nearly so. (10) £500

265 State of Hamburg, 20-year 6% Gold Bond, $1000, no.M4210, allegorical figure at top, ornate border, blue and black, ABnCo., with coupons, noT CAnCELLED, slightly uneven right edge, good very fine. £80

264 City of Frankfort-on-Main, 25-Year Sinking Fund 61⁄ 2 % Gold Bond, 1928, $500 (15 examples), allegorical female at top, ornate borders, orange and black, Republic BnCo., with coupons, noT CAnCELLED, some with tiny splits at folds, very fine.

(15)

266 State of Hamburg, 20-year 6% Gold Bond, $1000, no.M7390, allegorical figure at top, ornate border, blue and black, ABnCo., with coupons, noT CAnCELLED, good very fine. £80

£300 267 City of Karlsruhe, 5% Loan, 1926, a group of bonds for 1000 Swiss francs (84 examples), black and green, red overprint 1944, no coupons remain, noT CAnCELLED, the majority are about extremely fine.

(84)

£400

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268 City of Leipzig, 7% Sinking Fund Gold External Loan, 1926, $500, no.D782, allegorical figures at top, ornate borders, mauve and black, with coupons, noT CAnCELLED, very fine. £150

270 Free State of Saxony, 6% Sterling Loan, 1927, a pair of bonds for £100 and £20, vignette of allegorical figure, blue and orange respectively, with coupons, noT CAnCELLED, very fine to extremely fine. (2) £80 271 Kingdom of Westphalia, 6% Loan, 1809, bond for 200 franken, coat of arms at top, ornate border, black, lacking coupons, splits at folds and around edges, dirty surface, fine and scarce. £80

269 Free State of Oldenburg, 7% External Gold Bond, $1000, 1925, no.M2777, large coat of arms at top, ornate borders, orange and black, printed by the Columbian Bank note Co., with coupons, noT CAnCELLED, good very fine and scarce. £120

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Bonds and Share Certificates of the World The following 20 lots are a recent find of scarce Benz bonds and will be offered individually.

The buyer of lot 272 will have the option to purchase as many of the others as he/she wishes at the same price.

For example, if the buyer chooses to buy this lot and the next 9 lots, the next lot to be offered to the floor will be lot 282. The same process will repeat itself, the buyer of lot 282 having the option to buy any or all of the following lots at the same hammer price. This will be repeated until all 20 lots are sold. x278 - another similar but no.158, almost extremely fine. £250 x279 - another similar but no.159, almost extremely fine. £250 x280 - another similar but no.160, almost extremely fine. £250 x281 - another similar but no.161, almost extremely fine. £250 x282 - another similar but no.162, almost extremely fine. £250 x283 - another similar but no.163, almost extremely fine. £250 x284 - another similar but no.164, almost extremely fine. £250 x285 - another similar but no.165, almost extremely fine. £250

x272 Benz & Cie. Rheinische Automobil- Und Motoren-Fabrik AG, teilschuldverschreibung (partial debenture) for 1000 marks, Mannheim 1920, no.152, large format piece with ornate border, underprint of open touring motor car, brown and black, with coupons, almost extremely fine and rare.

x286 - another similar but no.166, almost extremely fine. £250 £250

x287 - another similar but no.167, almost extremely fine. £250

x273 - another similar but no.153, almost extremely fine. £250

x288 - another similar but no.168, almost extremely fine. £250

x274 - another similar but no.154, almost extremely fine. £250

x289 - another similar but no.169, almost extremely fine. £250

x275 - another similar but no.155, almost extremely fine. £250 x276 - another similar but no.156, almost extremely fine.

x290 - another similar but no.170, ragged top edge, good very fine. £200

£250 x277 - another similar but no.157, almost extremely fine. £250

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x291 - another similar but no.151, water stain in centre, very fine. £200

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May 20, 2011 - London 292 A small group of German certificates, comprising norddeutscher Lloyd, 100 reichsmark share, Bremen 1936; Saarburg Moselle Export Co. Ltd., £100 debenture, 1899, adhesive label at top right; Bremen, 41⁄ 2 % loan, 1922, 10,000 marks, 41⁄ 2 % Loan, 1923, 10,000 marks; Leipzig, 5% Loan, 1922, 1000 marks; koln, 8% Loan, 1923, 100,000 marks (2 examples), and others (2), the first two very fine to extremely fine, the rest generally without coupons, edge splits, fine to very fine, some better. (9) £80 293 An attractive group of motor car and related certificates (32) including Excelsior-Fahrrad-werke, 1000 marks, 1922; Sphinx Automobilwerke AG, 5000 marks, 1923; Fahrzeugfabrik Dusseldorf AG, 1000 marks, 1922; Lippische Werkstatten AG, 1000 marks, 1921; Dorner oelmotoren AG, 10,000 marks, 1923; Lindcar-Auto AG, 20 reichsmark, 1925; BrennaborWerke AG, 100 RM, 1940 and and 100RM and 1000RM, both 1935; Stoewer-Werke AG, 100RM share, 1932; Vogtlandische Maschinenfabrik (Dietrich), 100RM, 1928; M.A.n., 100RM, 1942; Mars-werke, 100RM, 1936, 4 different Daimler Benz; 2 different B.M.W. and others (14), generally very fine or better. (32) £500

295 Deutsche Rentenbank-Kreditanstalt Landwirtschaftliche Zentralbank (German Central bank for Agriculture), farm loan secured 6% gold sinking fund bond, $1000, 1928, no.3662, allegorical female at top, mauve and black, with coupons, with blue form TFEL-2 attached to signify that the holder is a US domicile, noT CAnCELLED, very fine. £100 296 Rheinelbe Union (Gelsenkirchener Bergwerks AG; Deutsch-Luxemburgische Bergwerks-und Hütten AG; Bochumer Verein Für Bergbau und Gussstahlfabrikation), 20-Year 7% Sinking Fund Mortgage Gold Bond, $1000 (9 examples), allegorical figures at top, ornate border, orange and black, ABnCo., with coupons, Commerzbank endorsement dated 1979 stating that the bond is legal and recognised, not cancelled but with filing holes, very fine and better.

(9) £200

294 Aktiengesellachaft Sachsische Werke (Saxon Public Works Inc.), general and refunding mortgage guaranteed gold bond, $1000, 1926, no.M6657, allegorical female at top, orange and black, with coupons, with form TFEL-2 attached signifying that the holder is US domicile, noT CAnCELLED, very fine. £100 Page 57

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298 Sächsische Bank zu Dresden, 200 taler share, Dresden 1870, no.18886, ornate architectural border with coat of arms at top, allegorical figures at sides, brown, red endorsement of revalue to 300 Reichsmark, with small blue certificate attached dated 1950, about very fine.

297 Rheinisch-Westfälisches Elektrizitätswerk AG (Rhine-Westphalia Electric Power Corporation), Condolidated 6% Mortgage Gold Bond, 1930, $1000 (46 examples), allegorical figures at top, ornate border, mauve and black, ABnCo., with coupons, 2 punch holes in centre, probably not cancellations, generally very fine or better. (46)

£100

£500

299 Silesia Electric Corporation (Elektrizitätswerk Schlesien AG), 61⁄ 2 % sinking fund mortgage bond, 1926, US$1000, no.M3211, Mercury at top, ornate border, brown and black, ABnCo., with coupons, noT CAnCELLED, small splits at folds at left edge, about very fine. £80 www.spink.com

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GIBRALTAR

300 Two German Colonial companies, comprising neu Guinea Compagnie, 500 mark share, Berlin 1914, no.1152, very ornate scrollwork and floral border with stylised lion at top left, brown and green, with coupons; together with Safata-Samoa-Gesellschaft, Vorzugs-Anteilschein, 100 marks, Berlin 1911, no.4208, ornate border, brown, pink and black, lacks coupons, very fine or better. (2) £80

302 Gibraltar Gas Company, 50 dollar share, Gibraltar [1857], no.1426, attractive vignette of Gibraltar with many sailing craft, black, handwritten endorsement on reverse, very fine and rare. £250

GREECE

301 Central-Afrikanische Bergwerks-Gesellschaft, 100 mark share, Berlin 1908, no.5793, ornate border, black, blue and orange, lacks coupons, very fine. £150

303 A collection of Greek bonds and shares, comprising The Eastern Insurance Company, 1 and 5 shares of 100 drachma, 1910, large format, text all in Greek, foliage around title; Vaiania & kairaktidis Shipping and Industrial Company, 1 and 5 shares of 1000 drachma, 1933, classical female at left, text all in Greek; Soc. hellénique d’Entreprises Maritimes, 5 and 25 shares of 100 drachma, 1916, ornate border with mythical figures and ship with flag; Banque de Thessalie S.A. Volo, 10 and 25 shares of 100 drachma, classical borders; olympias S.A.des Entreprises Forestières. 1 share of 1000 drachma, 1935 (4 examples); Thessalian Railways, 1 share, 1886 (3 examples); Canal de Corinthe, 1 share, 1882, and 6% bonds, 1890 (2 examples); Canal Maritime de Corinthe, 500 franc bond, 1888, other certificates (7), mixed condition, fine to very fine. (26) £150 304 A small group of Greek banking shares, comprising Banque de Propriété du Piree S.A., 25 shares of 100 drachma, [1927], allegorical figures at sides, building at bottom; Banque Populaire S.A., 1 share, 5 shares and 25 shares of 100 drachma, 1905, the last trimmed around edges, 1 share, 2nd series, 1923; Banque de Thessalie S.A. Volo, 5, 10 and 25 shares of 100 drachma, 1922, and, Banque de Commerce et d’industrie de Volo, 25 and 100 shares of 100 drachma, 1926, all large and attractive pieces, generally very fine. (10) £120

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307 J.D. Corcodilos & Sons Coal Trading & Shipping Co. Ltd., set of 3 certificates for 1, 5 and 10 shares of £1, Piraeus 1926, steamship at dockside with steam train, allegorical male and female at bottom corners, grey-green, blue and brown, Greek revenue stamps, with coupons, extremely fine. (3) £100

305 Cine Orient, 1 share of 100 drachma, 1918, no.9984, bare breasted female with roll of film and projector, ornate floral border, with coupons, good very fine. £60 306 Cine Orient, 1 share of 100 drachma, 1918, no.9985, bare breasted female with roll of film and projector, ornate floral border, with coupons, good very fine. £60

308 Soc. Athenienne d’Automobiles “Athena” S.A., certificates for 1 and 5 shares of 100 drachma, 1st issue, 1920, capital 20,000 shares, lovely design with Athena in centre flanked by an open touring car and a Sedanca de Ville, green and orange with pink underprint and green underprint respectively, adhesive duty stamps, with coupons, about extremely fine. (2) £100 309 Soc. Athenienne d’Automobiles “Athena” S.A., certificate for 25 shares of 100 drachma, 2nd issue, 1924, capital 40,000 shares, lovely design with Athena in centre flanked by an open touring car and a Sedanca de Ville, green with green underprint, adhesive duty stamps, with coupons, about extremely fine. £50 Even if all of this particular issue was in the 25 share denomination, which is highly unlikely, then a maximum of 800 could have been issued.

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May 20, 2011 - London 310 Soc. Athenienne d’Automobiles “Athena” S.A., certificates for 5 and 25 shares of 100 drachma, 3rd issue, 1925, capital 50,000 shares, lovely design with Athena in centre flanked by an open touring car and a Sedanca de Ville, green with blue underprint and green with green underprint respectively, adhesive duty stamps, with coupons, good very fine to extremely fine. (2) £100 This third issue was the smallest with only 10,000 shares, divided at worst into only certificates of 5 and 25 shares.

We estimate approximately 300 of the 25 share and 500 of the 5 share.

314 Szegedi Szállodások, Kávésok, Vendéglosök És Korcsmárosok Ipartársulatának Szikviz-Gyári Szövetkezete (Szeged Co-operative Soda Factory), 60 korona share, 1896, no.005/5, very attractive piece with vignettes of horse and wagon delivering soda bottles, soda factory depicting gas equipment for filling soda bottles, city view with bridge across river, allegorical figures and seal depicting soda water syphon, brown and green, with coupons, very fine.

HUNGARY 311 Lloyd Bank A.G., certificate for 1 share of 400 kronen, Budapest 1923, very attractive large format piece with border consisting of numerous cherubs, text in hungarian and German, red and brown, with coupons, edge splits; together with other Austrian and hungarian certificates including Takarek Es hitelbank, 100 kroner, Cservenka 1908, allegorical females at left; Wasserkraftwerke AG, 5% bond, 10,000 kronen, 1922, vignettes in each corner; Boden Credit Anstalt, 100 gulden, 1889; Pfandbrief-Anstalt der ersten osterreichischen Spar-Casse, 4% bond, 1899, 2000 kronen (2 examples), and others (19), mixed condition but many are very fine and better. (25)

£80

ICELAND

£120 312 Lloyd Bank A.G., certificate for 50 shares of 400 kronen, Budapest 1923, very attractive large format piece with border consisting of numerous cherubs, text in hungarian and German, green and brown, with coupons, good very fine. £80

315 Hlutafjelagid Eimskipafjelag Islands (Iceland Steamship Co. Ltd.), 25 kroner share, series A, Reykjavik 1914, no.3926, large format piece with vignettes of steam trawler and figures from Icelandic history, including Leif Ericson (Leifur heppni), map of Iceland in underprint, blue, black, red and orange, yellow underpint, very fine.

313 Lloyd Bank A.G., certificate for 100 shares of 400 kronen, Budapest 1923, very attractive large format piece with border consisting of numerous cherubs, text in hungarian and German, mauve and brown, with coupons, good very fine. £80

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Bonds and Share Certificates of the World 316 Hlutafjelagid Eimskipafjelag Islands (Iceland Steamship Co. Ltd.), 50 kroner share, series B, Reykjavik 1917, no.4602, large format piece with vignettes of steam trawler and figures from Icelandic history, including Leif Ericson (Leifur heppni), map of Iceland in underprint, blue, black, red and orange, yellow underpint, very fine. £120 317 Hlutafjelagid Eimskipafjelag Islands (Iceland Steamship Co. Ltd.), 100 kroner share, series C, Reykjavik 1914, no.993, large format piece with vignettes of steam trawler and figures from Icelandic history, including Leif Ericson (Leifur heppni), map of Iceland in underprint, blue, black, red and orange, yellow underpint, very fine. £120

319 Connemara Mining Company of Ireland, certificate for 5 shares of £1, London 1852, no.5181-5185, coat of arms at top, blue, extremely fine. £50

IRELAND 320 Strabane and Letterkenny Railway Co., £10 shares, 19[07], numbers 12 and 13, green; 4% debenture stock (£65,000), 19[08], no.5 and 19[09], no.7, red, and 4% debenture stock (£55,000), 19[30], no.1, and 19[60], no.4, mauve, the no.1 piece has some spotting otherwise mainly very fine. (6)

£100

318 Irish Republic, a 6% bond for US$10, 186[6], redeemable 6 months after the ‘Independence of the Irish nation’, issued by the Fenian Republican brotherhood of America, facsimile signature of John O’Mahony, ‘Erin’ with harp at top, Wolfe Tone at left and possibly Robert Emmet at right, green and black, neat repaired tear at top, about very fine and scarce. £400

321 Waterford, Wexford, Wicklow and Dublin Railway Company, £20 share, 1847, no.35109, attractive coat of arms at top, scrollwork border and scrollwork at left, black, green paper seal, extremely fine. £120

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ITALY 322 A small group of Italian certificates, comprising Lloyd Sabaudo, 250 lire share, Genova [1924], steamship bottom left, numerous stamped endorsements; City of naples, 5% loan, 100 lire bond, 1881, coat of arms in centre; Tramway & Chemin de Fer Electriques de Rome-Civita Castellana-Viterbe, 100 franc share, 1907, attractive Art nouveau design with tramcars and allegorical female, trimmed at left and right edges; Banco Giro di Venezia, cedola, 50 ducati, 1798; an unissued or possibly specimen nominative certificate for 25 shares of 100 lire in Societa Electrica Sarda, Milan 1920, and others (2), generally very fine. (7) £80

324 La Virginia, 250 lire share, Bergamo 1862, no. 1373, black and pale brown, arms at top centre, ornate borders, with coupons, very fine. £200

323 Anglo-Sicilian Sulphur Company Ltd., a group of specimen bearer warrants from the Bradbury, Wilkinson & Co. archive, for 10, 25, 50 and 100 preference shares of £1, 189-, all with vignette of errupting Mount Etna in centre, ornate borders, brown with blue, green, orange and grey underprints respectively, with coupons, some paper residue at left edges where stuck down otherwise about extremly fine (4) £150

325 Società Terme Agnano Napoli, 10 shares of 100 lire, naples 1910, no.3199, large classical building with electric tramcars in centre, ornate border, red-brown and black, with coupons, extremely fine. £80

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NETHERLANDS AND COLONIES

NORWAY

326 A selection of Dutch and Dutch Colonial certificates, comprising Delftsche Distilleerderij, Gisten Spiritus-Fabriek (van Meerten & Zonen), 1000 gulden share, Delft 1890; netherlands Land Enclosure Company, 20 shares, London 1852; nederlandsche Centraal-Spoorweg, 250 gulden, 1860; Tabak Maatschappij ‘krapoh’. ‘bewijs van deelgerechtigdheid’, Amsterdam 1922, and, Exploitatie van fotografische Finlay en andere procédés, shares of 500 gulden, series A, 1929 and series B, 1930, generally very fine and better. (6) £80 327 A small selection of Tobacco companies, comprising J. Lub Jr., 100 gulden, 1929; Duc George Sigarenfabrieken, 1000 gulden, 1928; A. hillen’s Sigaren- en Tabaksfabriek, 1000 gulden, 1919 and a preference share, 1930; Sneeker Tabaksfabrieken, 1000 gulden, 1922; Internationale Tabakshandel, 1000 gulden, 1919; Sigarenfabriek “Flevo”, 1000 gulden, 1914; Tabakmaatschappij Weinthal & Co., 1000 gulden, 1942; Douwe Egberts, 1000 gulden (2), 1958 and 1959, and, Tabacus, 100 gulden, 1925, generally very fine to extremely fine. (11) £100 328 Baldy Goudmijnen Maatschappij, 250 gulden share, S-Gravenhage 1889, no.233, ornate border, black, yellow underprint, with coupons, about extremely fine. £50

330 Ringnes Bryggeri, 2000 kroner share, Christiania 1899, no.983, ornate border, green and black, pink underprint, several endorsements re-valuing the shares, the last in 1970, with coupons, cancelled, good very fine. £80 331 Telemarken Copper Mining & Smelting Company Ltd., bearer warrant for 1 share of £1, 1906, very large format piece with 3 photographic vignettes of the camp, buildings and offices, brown and green, with coupons, tiny split at centre fold but very fine. £40 Owned mines at Mo and Fryesdal, Norway.

POLAND 329 Maatschappij tot Zoutwinning op het Eiland St. Martin, 250 gulden share, 1859, no.1693, attractive border incorporating small vignettes of salt ponds, wagons, barrels and ship at dockside, orange and black, with coupons, about extremely fine. £75

332 An unissued lottery loan certificate, for 600 zloty, 1831, small format piece with coats of arms at top, black, handsigned by one official, prizes listed on the reverse; other Polish pieces (5) including 6% 20-Year US dollar gold bond for $50, 1920, uncancelled; Banku Ziemian, 10 shares of 280 marks, 1921; Sierszanskie Zaklady Gornicze. 100 zloty share, 1929, ornate design with vignettes of mine buildings and miners, generally very fine. (6) £100

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333 Municipality of Danzig, 1925, 7% Mortgage Loan, bond for £100, no.B4700, large format piece, City view at top, ornate border, orange and black, printed

by Bradbury, Wilkinson & Co., with coupons, good very fine and scarce. £120

334 Widzewska Manufaktura Spólka Akcyjna (Widzew Manufacturing Company Ltd.), a specimen 8% mortgage bond for £4, 1930, from the Bradbury, Wilkinson & Co. archive, a large format piece with allegorical figures at top, brown and black, text in English, Polish and French, with coupons, red circular Bradbury specimen stamp at bottom, almost extremely fine. £120

PORTUGAL AND COLONIES 335 A small group of Portuguese certificates, comprising Consórcio Português de Pesca e Conserva, 5 ordinary shares of 100$00, Lisbon 19[20], fishing boats at bottom, architectural border with fishing net at left, brown; Estrela de Portugal Empreza de Pesca, 10 shares of 100$00, Lisbon 1923, early sailing ship at top, ropework border, mauve; Companhia Colonial de navegaçáo, 5 shares (2), 10 shares and 100 shares, all Lisbon 1922, and, Match and Tobacco Timber Supply Company, 1 share, 1926, generally very fine and better.

(7) £80

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336 A Equitativa Companhia de Seguros, 50 escudos share, Lisboa 1918, no. 2426, olive and pale orange, maiden with globes and horn of plenty at top centre, extremely fine.

338 Empresa Tauromachica Lisbonense, 50 reis share, Lisboa 189-, black and white, bull’s head at top centre, bullfighter at left and farmers at right, extremely fine. £50

337 Empreza Tauromachica Lisbonense, 7% Bonds, a set of 3 certificates for 1, 5 and 10 bonds, Lisbon 1893, large format pieces with ornate borders, black, blue and red respectively, blue impressed duty stamp in centre, one or two edge tears but generally very fine to extremely fine. (3) £150

£200 339 Empreza Tauromachica Lisbonense, a set of 3 unissued certificates for1, 4 and 8 shares of 50$000, 189-, very attractive large format pieces with bullfighter at left, herdsmen right, underprint of bullring, bull’s head and implements at top, black and brown, blue and pink and red and green respectively, 4 pages, extremely fine and a scarce set. (3) £600

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340 Fabrica de Faianças das Caldas da Rainha, certificate for one share of 20$000, Lisbon 1884, a beautiful certificate designed by Raphael Bordallo Pinheiro depicting the company’s art pottery, flowers and various animals, multicoloured but predominantly green, brown and pink, extremely fine. £2,500 Page 67

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341 Lisbon Electric Tramways Ltd., bearer warrant for 25 shares of £1, 19[39], capital £1, 500,000, very large format with vignettes of allegorical females and tramcars, ornate border, blue and black, printed by Waterlow & Sons, with coupons, cancelled, about very fine. £80 Name changed to L.E.T.Holdings Ltd.

343 Companhia da Guine, 100 escudos share, Porto 1919, no. 441, blue, ship sailing, neptune and Afonso de Albuquerque at left, with coupons, almost extremely fine. £100

ROUMANIA

344 Banca Centrala, certificate for 10 shares of 250 lei, Cluj 1920, no. 187221-187230, multicoloured borders, Cluj view at top centre and eagle with globe, very fine.

342 SACOR S.A. Concessionária de Refinação de Petróleos em Portugal, a set of specimen certificates for 20, 50, 100 and 500 shares of 1000 escudos, Lisbon 1965, from the Bradbury, Wilkinson & Co. archive, attractive and colourful pieces with oil refinery at top, with counterfoils, overprinted specimen in red, extremely fine. (4)

£50

£100

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SERBIA 345 Banque Serbe, 100 dinars share, Belgrade 1906, no.

005303, black and pale orange, together with Pioner, 500 dinars share, 1922, no. 4370, black and black orange, both with coupons, almost extremely fine. (2) £80

348 Pec Merchant Industrial Bank, certificate for 10 shares of 250 dinars, Pec 1924, no. 15761-15770, multicoloured borders, vignette with allegories of Industry and Commerce, with coupons, extremely fine. £50

SPAIN

346 Homolje Investment Bank, pair of certificates for 1 share and 10 shares of 100 dinar, 1928, numbers 676 and 5931-5940, very colourful certificates as are many Serbian pieces, with agricultural scenes, building and a church, blue, brown and gold and yellow, brown and gold, with coupons, very fine. (2) £50

349 A collection of Spanish certificates, comprising Compañia Española de Seguros “Allende”, 1000 peseta share, Barcelona 19[18], large vignette of stylised sailing ship carrying goods; Compañia Bilbaina de navegacion S.A., 500 peseta share, 1883, vignette of sail assisted steamship; Compañia Trasatlantica S.A., 500 peseta preference share, Barcelona 1913, steamship at top, hole cancelled; “Colon” Compañia Transaerea Española, bono de construcción, Madrid 1928, large vignette of airship (3 examples); S.A. Astilleros de Tarragona, 1000 peseta share, 1918, huge vignette of early sailing ships in harbour; FerroCarriles de Sevilla-Jerez-Cadiz, 1900 reales share, 1857; Compañia Ibérica de Riegos, 3% bond for 1900 reales, 1869 (2 examples), and, other certificates (19) including several unissued, generally very fine and better. (29) £280

347 Industrie de Pruneaux Serbo-Bosniaques S.A., nominative certificate for 50 shares of 1000 dinars (50,000), Belgrade 1922, no.351-400, underprint vignette of women picking plums surrounded by larger vignettes of plums and foliage, brown with green underprint, text in Serbian and French, with coupons, small hole cancels, very fine and rare high denomination. £50

350 Compañia de los Ferro-Carriles de Madrid a Zaragoza y a Alicante, a group of shares of 1900 reales vellon, Madrid 1859 (150), ornate border with various vignettes of city and railway views, arms at top, black, text in Spanish and French, no coupons remain, all hole cancelled, an odd few with some damage otherwise mostly very fine to extremely fine. (150) £350

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354 Baños del Astillero S.A., certificate for 1⁄10 th part of a 500 peseta share, Barcelona 1934, large format piece, very typical Spanish design of this period with large neptune in centre, sailing boats at left and leisure building at right, orange-brown and black, with coupons, about extremely fine.

351 Cia. de los Ferrocarriles Económicos de Villena a Alcoy y Yecla, certificates for 10 shares of 475 pesetas (4), and one preference share (4), all Barcelona 1910, steam train at bottom left, cornucopia bottom right, city views in top corners, trellis borders, blue with pale blue underprint and mauve with yellow underprint, with coupons, mostly extremely fine. (8)

£100

£80

355 Cadiz Waterworks Co. Ltd., 8% Loan, 1875, bond for £100, of 400 issued, no.1858, large format, ornate border, black with green underprint, with coupons, good very fine. £60

352 Ferrocarril Eléctrico del Guadarrama, 500 peseta share, Madrid 1921, no.2795, electric locomotive with factory and mountains in the background, brown with green underprint, with coupons, very fine to extremely fine. £50

356 Fundicion Artistica Masriera y Campins, 500 pesetas share, Barcelona 1902, no. 001047, dark green and pale red, casting tools on right and lower margin, sculpture at top left, with coupons, extremely fine. £50

353 S.A. del Ferro-Carril de Valdepeñas á la Calzeda de Calatrava, 500 peseta share, Vitoria 1903, no.2061, of the second issue of 1850 shares, ornate border with steam train at bottom, coats of arms at top, brown and orange-brown, about extremly fine. £50

357 Grandes Fábricas de Bernardo Alfageme, 200 peseta share, Madrid 1908, no.1424, of 2, 500 issued, attractive piece with vignettes of factories in underprint, river scene with tinned fish above, blue, green and brown, interesting blind impressed coat of arms at top, about extremely fine. £50 Bernardo Alfageme S.A., a successor to this company still exists today supplying tinned fish and shellfish.

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358 Hiladora Illicitana, nominative 500 pesetas share, Elche 1925, no. 1168, pale orange and black, allegorical figures spinning, with coupons, very fine. £75

360 La Hispano Suiza Fabrica de Automóviles, 500 peseta share, 7th issue, Barcelona 1918, no.19167, attractive Art nouveau design with elegant lady in flowing dress, motor car in the background, green, black and red, no coupons remaining as usual, extremely fine. £150

359 La Castellana S.A., certificate for 1 share of 1000 pesetas, Madrid 19[09], no.129, large format piece with huge vignette of allegorical female watching miners at work, ornate border, blue, brown and gold with yellow underprint, only 500 issued, edge tears at top and some damage to bottom edge otherwise about extremely fine. £50

361 Parques y Edificaciones S.A., 500 peseta share, series B, Barcelona 1919, no.000623, signed by the artist Josep obiols (1894 - 1967) in 1919, attractive design of reclining females and cherubs with potted plants, brown and buff, with coupons, near extremely fine. £60

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362 San Isidro de Bacares Sociedad Minera, quarter share, Madrid 1857, no.4/135, very attractive piece with miners and mine buildings at bottom, cherubs, foliage and scrollwork around border, black, 4 pages, tiny mark at extreme bottom edge, about extremely fine. £60 364 Sociedad Minera Araceli, 250 peseta share, Seville 1908, no.123, attractive piece with large vignette of miner and barrow emerging from the tunnel, being overlooked by allegorical figures, dark and pale green, heavy folds with repaired splits, fine to very fine. £50

363 Sociedad Española de Azufres, 250 peseta share, 4th issue, Barcelona 1883, no.6100, very attractive piece with detailed vignette of steam engine, various tools and presumably the Queen of Spain. An ornate flag spreads across the whole width of the piece and bears the title of the company, black, pink underprint, with coupons, very fine. £80

365 Tejeria Trascueto S.A., 500 peseta share, Santander 1909, no.722, of 1600 issued, unusual design with factory, smoking chimney and two bricks, orangebrown and black with chequered design in underprint, with coupons, good very fine. £75

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May 20, 2011 - London 368 Rederiaktiebolaget Falkvik, 500 kroner share, Sölvesborg 1916, no.206, vignette of shipping in harbour, green and brown; Lindholmens Verkstads Aktiebolag, 5 shares of 500 kroner, Göteborg 1917 and another dated 1919, busy dockside scene with shipping, brown and black; Strengnäs nya RederiAktiebolag, 50 kroner share, 1908 (2 examples), steam ship, green and black; other Swedish certificates (8) including nordiska Textilaktiebolaget, 100 kroner shares, 1919 (2); Svensk-Dansk-Ryska Telefonaktiebolaget, 360 kroner share, 1915; Aktieselskapet “South Atlantic”, 500 kroner share, 1924, and, Rederiaktiebolaget Transatlantic, 10 shares of 100 kroner, 1917, generally very fine to extremely fine. (13) £150 366 Ybarra Compañia Sociedad en Comandita Sevilla, 2000 peseta share, Sevilla 1905, no.0910, very attractive piece with vignette of busy dockside with railway, church steeple and goods and anchor at dockside, city arms around border, blue and black with green underprint, good very fine.

SWITZERLAND

£50

SWEDEN

369 AEG Elektrizitäts-Aktien-Gesellschaft, a group of 1000 Swiss franc shares, Zurich 1937 (10 examples), ornate border, dark blue and orange-brown, with coupons, generally very fine and better. (10) £100

367 Göteborgs Stads (City of Gothenburg), 5% Loan, 1878, a specimen bond for 800 kronor or 900 Reichsmark, from the Bradbury, Wilkinson & Co. archive, large format piece with coat of arms at top, black and yellow, text in Swedish and German, 2 small hole cancels over signature area, extremely fine and scarce. £150 Page 73

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TURKEY/OTTOMAN EMPIRE 372 A collection of Ottoman bonds and share certificates, comprising “Ittihad” S.A. de navigation ottomane, 5 shares, Salonique 1911, lovely vignette of steamship in centre, small piece missing from bottom left corner; S.A. ottomane des Docks & Ateliers du haut-Bosphore, 1 share, Constantinople 1911, vignette of dry docks; Soc. des Bateaux de la Corne d’or, one share, Constantinople 1914 (2 examples); Compagnie des Eaux de Constantinople, 500 franc share, Constantinople 1884 (3 examples); Angloottoman Tobacco Co. Ltd., 1 ordinary share, London 191[3] (2 examples) and 1 preference share, London 191[3], and other certificates (5), generally very fine and better. (15) £150 x373 An interesting group of Turkish certificates, comprising “Arsimidis Muessesesi” otomobil Malzemesi Ticareti, 100 lira share, 1939, blue; Libka Ticaret Turk Anonim ortakligi, 1000 lira share, 1950 (250 issued); Sezim Turk Anonim Sirketi, 1000 lira share, 1950 (200 issued); Istanbul Matbaacilik T.A.o., certificate no.1, of no par value, brown, and 200 lira share, blue, both 1947; S.A. Turque d’Entreprises Commerciales et Industrielles, 100 lira share, 1955, and, Ittihadi Milli T.A.S., 5 shares of 100 lira, 1959, all with coupons, very fine or better and a scarce lot; together with other Turkish, Egyptian and other certificates (17) and miscellaneous documents (4), generally very fine. (28)

370 Rigibahn-Gesellschaft, 500 franc share, Luzern 1889, no.0920, lovely vignette of lakeside town with the mountain railway, ornate border, black and brown, no coupons, very fine.

£150 £80

371 Motosacoche S.A., pair of certificates for 1 and 5 shares of 50 francs, Geneva 1905, ornate borders, green and red respectively, with coupons, good very fine. (2) £50 Under the name of Maximag this company produced motor cycles and small engines which developed into light sports cars in the 1920’s.

374 Imperial Ottoman Bank, unissued certificate for 1 share of £20, Constantinople 1875, attractive Moorish design with text in English, French and Arabic, black and blue, printed by Bradbury, Wilkinson & Co., on watermarked paper, embossed company stamp, good very fine. £120

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GREAT BRITAIN Government

376 A Treasury Warrant, 1723, to George, Earl of halifax, instructing that the sum of £48,600 in Exchequer bills should be issued to Spencer Compton, Paymaster General of his Majesty’s Forces, signed by Robert Walpole, Richard Edgcumbe and Henry Pelham as Lords of the Treasury, a neatly handwritten document, folio, torn in half and repaired; together with two unrelated receipts by Charles howard, Earl of nottingham, for annuity payments, 1662 and 1676, very fine.

375 A Treasury Warrant, 1722/3, to George, Earl of halifax, authorising the issue of £1,000,000 in Exchequer Bills, signed by Lord Treasurers, Robert Walpole, George Baillie and Charles Turner, folio sheet, neatly handwritten, authorises ‘Copper Plates to be curiously engraved ...’ and also gives the proposed wording of the bills within the text, torn in half and repaired, very fine.

£250 £250

George Baillie (1664-1738), MP 1707-34, Lord of the Treasury 1717-25; Charles Turner (1666-1738) MP for Kings Lynn 1695-1728, friend of Walpole, Lord of the Treasury 1720-30.

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377 Consolidated 3% Annuities, inscribed stock certificate dated 175[9] for the purchase of £50 of stock, black printing with manuscript insertions, top left corner missing from spiking as is normal with these pieces, very fine and a scarce early date.

380 South Sea Company, New South Sea Annuities, inscribed stock receipt, 178[4], black and red, top left corner torn from spiking as usual, very fine. £300 £150

378 Consolidated 3% Annuities, inscribed stock certificate dated 175[60] for the purchase of £20 of stock, black printing with manuscript insertions, top left corner missing from spiking as is normal with these pieces, very fine and a scarce early date. £150

After the collapse of the South Sea Company in 1723 the Government agreed to exchange half of the shareholdings for Government Stock, called South Sea Annuities. In 1733 half of the remaining shares were also exchanged and this gave rise to the New South Sea Annuities.

381 A small collection of British Municipal Government bearer bonds, comprising Plymouth Corporation Redeemable 3% Stock, £50, 189[1901], no.C12; Pontypridd 31⁄ 2 % Redeemable Stock, £500, 19[09], no.B104; newport (Mon.) Corporation 3% Stock, £500, [1908], no.E12; Stockton-on-Tees Corporation 3% Stock, £100, 19[16], no.D38; Cardiff Corporation 31⁄ 2 % Redeemable Stock, 1925-1965, £100, 19[26], no.B20, and, Portsmouth Corporation 3% Stock, £500, 19[28], no.E11, all have some coupons remaining, stamped and hole cancelled, generally fine to very fine and better. (6) £80

Canals 382 Birmingham Canal Navigations, one share, 1855[7], no.2404, black on blue paper, red paper seal; together with two receipts for £71 on subdivided shares no.2327 and 2336, both dated 183[44], attractive arms at left, black on thick paper, embossed duty stamps, very fine to extremely fine. (3)

379 Navy 5% Annuities, an inscribed stock certificate 182[1], black and red, a rare example as there is only a minute spike hole without any paper loss at top left, very fine; other examples (6), 180[8], black, 180[10], black, with different printer’s imprint, 181[0], black, 181[7] (2 examples) and 181[9], black and red; other inscribed stock certificates (3) for Reduced £3 per cent, 182[2], red and black; Consolidated £3 per Cent, 183[5], black and red and 18[75], black, these all with varying degrees of damage at top left corner from spiking, fine to very fine. (10)

£100

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385 Mercy [sic.] and Irwell Navigation, certificate for one share, 1724, no.130, black printing, on vellum, red wax seal with signatures of seven officers of the company, blue paper revenue stamps, vellum slightly discoloured as usual otherwise very fine and a good quality example.

383 Manchester Ship Canal Company, a specimen 5% redeemable debenture for £100, 1927, from the Bradbury, Wilkinson & Co. archives, large format with vignette of steamship at top, ornate border, green with pink underprint, red Bradbury specimen stamp at bottom, with counterfoil, single fold otherwise about extremely fine.

£800

£80

386 North Walsham & Dilham Canal, one share of £50, 18[25], no.210, attractive black printing, on vellum, red seal at left, very fine. £200 387 Sheffield & South Yorkshire Navigation Company, £10 ordinary shares, 189[5], no.217, scrollwork at left incorporating coat of arms, black, red seal, good very fine. £60 384 Medway Lower Navigation, a fine printed transfer certificate for £100 capital stock of the company, 18[03], black printing, on vellum, red wax seals to signatures, blue paper impressed revenue stamps, very fine.

388 Witham Navigation, certificate for 1 share, 18[13], no.1176, black printing, on vellum, edges unevenly cut as usual, tri-folded, very fine. £80

£120

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Bonds and Share Certificates of the World 389 Woking, Aldershot, and Basingstoke Canal and Navigation Co. Ltd., £50 debenture, 189[6] (2 examples); together with other Canal certificates comprising oxford Canal navigation, £100 shares, 19[03]; Staffordshire and Worcestershire Canal Co., 41⁄ 2 % debenture stock, 187[1918], and consolidated stock, [1895]; Regent’s Canal & Dock Co., debenture stock, 19[15] to 19[17] (4 examples); Grand Union Canal Carrying Co. Ltd., unissued debenture stock certificates, 19- (circa 1920) (2 examples), and, 2 office copies of Grand Junction Canal transfer certificates, 1809 and 1891, many are stamped cancelled, about very fine to extremely fine. (13)

392 Beyer Peacock & Co. (1902) Ltd., bearer warrant for 50 preference shares of £1, 190-, a specimen certificate from the Bradbury, Wilkinson & Co. archives, vignette of steam engine, ornate border, blue-green and black, numbered B000, with coupons, glue residue on the reverse of top edge, extremely fine. £80

£120

Railways 390 Aberystwith and Welsh Coast Railway Co., £10 share, 186[2], cancelled; Mid Wales Railway Co., £10 share, 18[63], edge tears; Milford haven Railway & Estate Co. Ltd., £1 ordinary shares, 188[2], edge tears and small piece missing from top right corner; together with various letters, instalment receipts and transfer certificates, all 1840’s (10), mixed condition, fine to very fine. (13)

393 Carmarthen and Cardigan Railway Co., certificate for ‘A’ stock, 18[78], no.34, scrollwork at left, black, embossed seal, light rust mark at top, very fine. £80 £100

391 Beyer Peacock & Co. (1902) Ltd., bearer warrant for 50 ordinary shares of £1, 190-, a specimen certificate from the Bradbury, Wilkinson & Co. archives, vignette of steam engine, ornate border, orange and black, numbered E000, with coupons, about extremely fine. £80 Founded in 1854 in Gorton, Manchester, builders of railway locomotives. Reorganised in 1902 when under pressure from motor car manufacturing. Closed in 1966.

394 Carmarthen and Cardigan Railway Co., bond for £250, 186[4], no.739, large format piece, scrollwork at left, black on thick waxed paper (resembles vellum), blue paper seal, with coupons, good very fine. £150

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395 Channel Tubular Railway Preliminary Company Ltd., certificate for 5 founders shares, London 1892, very attractive piece with vignettes around border of English and French coast, ships with tube carrying steam train resting on the seabed, black and yellow, very fine to extremely fine. £100

396 Channel Tunnel Co. Ltd., £1 shares, 18[87], no.40, signed by Lord Alfred Churchill as director, scrollwork at left, black, ink spot in centre and discoloured central fold, good fine. £100

397 Duke of Cornwall’s Harbour and Launceston & Victoria Railway Co., certificate for 5 shares of £25 each, £1 per share paid, 1836, no.1496-1500, an attractive 4-page document with red embossed United kingdom coat of arms at top, text in blue, light wear at folds, about very fine. £250

398 Girvan & Portpatrick Junction Railway Company, share certificate, 187[2], no.423, steam train at top pulling 2 passenger coaches and two flat wagons carrying a coach and various goods, black, green underprint, very fine. £180 Page 79

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Bonds and Share Certificates of the World 399 Glasgow, Dumfries & Carlisle Railway, a scrip certificate for 5 shares of £25, being the first instalment of £1 5s on the deposit of £2 10s per share, Glasgow 1844, no.100, scrollwork at left, black on grey paper, a little grubby with a couple of repaired edge tears, fine to very fine.

404 Milford Haven Railway & Estate Co. Ltd., 41⁄ 2 % debenture for £10, 18[85] (19 examples), ornate border, black, no coupons remain, bottom edge a little uneven where coupons removed, very fine. (19) £150 £50

400 Golden Valley Railway Company, one £10 share, 187[8], no.1716 amended to 1763, small vignette of steam engine in scrollwork at left, orange; together with Metropolitan Railway-Carriage & Wagon Co. Ltd., £10 share, 1864, red and black; Great northern Railway Co., £25 share, 1846, black on pink paper (2 exampes); Paisley, Barrhead & hurlet Railway, unissued certificate for 20 shares, 184-; Bristol and Exeter Railway Co., debenture, 18[70], black on blue paper; Waterford, Dungarvan and Lismore Railway Co., 9 examples, 3 types, 18[75] to 18[93], and, Fishguard and Rosslare Railways and harbours Company, guaranteed preference stock certificates (5), 19[14], 19[31], 19[33] and 19[50] (2), generally fine to very fine. (20) £120 401 Great Western Railway Co., quarter share of £25, 184[5], no.46908, black with mauve paper seal, together with 3 later dividend warrants (without the cheques), good very fine.

405 Stockton & Darlington Railway Company, class A preferential 5% shares of £25, 1858, no15374, large vignette of steam train crossing bridge over canal, mills in background, black on pink paper, almost extremely fine. £400

£60 406 Vale of Neath Railway Company, £20 shares, 1846, no.5541, scrollwork at left, black on pale blue paper, red paper seal, extremely fine. £80

402 Liverpool, Manchester and Newcastle upon Tyne Junction Railway Company, £20 share, 1846, no.26734, attractive coat of arms at top, black, large red embossed seal, about extremely fine. £80 403 Milford Haven Railway & Estate Co. Ltd., a group of 3 certificates comprising £1 ordinary shares, 188[2], no.94, blue, £10 preference shares, 188[2], no.106, black, and £10 debenture, 18[85], no.353, black, the second with edge splits at top otherwise all about very fine. (3)

407 West Cornwall Railway Company, £20 share, 184[6], no.6076, coat of arms in centre, black on pale grey paper, red paper seal, extremely fine. £100 £80

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408 Wharfdale Railway Company, £15 share, 1846, no.20152, vignette of craven heifer in centre, black with attractive blue underprint and large red embossed seal, extremely fine. £80 411 Cressington Steamship Co. Ltd., a series of 3 certificates for £1 shares, 19[14], capital £100,000, no.220, 19[15], capital £100,000 overprinted £200,000 in red, no.403, and 19[20], capital £200,000 with handwritten increase to £500,000, no.3276, all with company flag at top, scrollwork at left, shades of green with red paper seal, fine to very fine. (3)

Shipping and Shipbuilding 409 Co-Operative Cruising Co. Ltd., £1 preference shares, 1900, attractive piece with small ships at sea, anchor and srollwork at left; together with Southampton Steam Collier & Coal Co. Ltd., £20 share, 186[5]; oriental Inland Steam Co. Ltd., £10 share, 185[65]; Portfield Steamship Co. Ltd., £1 shares, 1[920]; ottoman Line Ltd., £10 preference shares, 19[29]; Seven Seas Schooner Ltd., £1 shares, 19[35]; Anglo Belgique Shipping Co. Ltd., £1 shares, 19[18]; African Steam Ship Company, £1 shares, 192[4] and debenture stock, 192[2]; Anglo-Celtic Shipping Co. Ltd., £1 shares, 19[20], and, an unissued £50 debenture, 1906, of the helredale Steamship Co. Ltd., a couple have damge at left edge otherwise fine to very fine. (11)

£50

£120

410 County Shipping Co. Ltd., a group of 3 certificates, 19[18], capital £50,000, no.306, 19[19], capital £50,000 overprinted £100,000 in red, no.946, and 19[20], capital £200,000, no.1805, scrollwork at left, black, printed in Cardiff, very fine or better. (3)

412 Cunard Steam Ship Co. Ltd., a group of certificates comprising £1 ordinary shares, 19[26], blue, 5% preference stock, 19[23], red, both capital £7,000,020, £1 ordinary shares, 19[27], capital £8,100,020, this uncancelled and rare thus, ordinary stock, 19[54], grey and 6% second preference stock, 19[53], brown, both capital £14,500,020, and ordinary stock, capital £15,500,020, three examples dated in the 1950’s, grey, all punch cancelled except where mentioned, the first with tiny piece missing from bottom corner, generally very fine. (8) £60

£50

413 Dean Shipping Co. Ltd., a group of 3 different certificates for £1 shares, 19[19], no.618, capital £50,000, 19[19], no.1117, capital £50,000 overprinted in black £100,000, and 19[20], no.553, capital £100,000, scrollwork at left, ornate border, blue and black, generally about very fine. (3) £50 414 Dundee Perth and London Shipping Company, a group of certificates with some duplication, 1868 to 1914 (16), 5 different types noted, black or red or blue on blue paper, fine to very fine. (16) £100

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418 Elder Dempster and Co. Ltd., 51⁄ 2 % preference shares of £1, 19[10], signed by Lord Pirie as Director, capital £910,000, vignette of steamship, green about very fine. £60

415 Earle’s Shipbuilding & Engineering Co. Ltd., pair of certificates for ordinary and preference shares of £5, 189[8], both numbered 57 and issued to the same shareholder, black and red respectively, with red seals, good very fine. (2) £80

419 Elder Dempster and Co. Ltd., 51⁄ 2 % preference shares of £1, 19[10], signed by Owen Phillips as Director, capital £910,000, vignette of steamship, green, creased bottom edge very fine. £60

416 Eastern Steam Navigation Co., £20 share, 185[1], black on blue paper (5 examples), and £20 share, 1858, black on pink paper (2 examples), all with attractive embossed seal depicting sail assisted paddle steamer, very fine to extremely fine. (7) £150 417 Elder Dempster and Co. Ltd., a group of 5 different certificates comprising 51⁄ 2 % preference shares, 19[12], capital £910,000, green, 19[27], capital £15,435,000, red, 6% preference shares, 19[14], capital £3,635,000, green, pink underprint, 19[22], capital £15,435,000, green, pink underprint, 61⁄ 2 % preference shares, 19[24], capital £15,435,000, black, mauve underprint, all with steamship in centre and ornate border, fine to about very fine. (5) £100

420 Elder Dempster and Co. Ltd., 51⁄ 2 % preference shares of £1, 19[12], signed by Owen Phillips as Director, capital £910,000, vignette of steamship, red, very fine. £60 421 Elder Dempster and Co. Ltd., 51⁄ 2 % preference shares of £1, 19[14], signed by Owen Phillips as Director, capital £1,635,000, vignette of steamship, red, creased, fine to very fine. £60

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May 20, 2011 - London 422 Elder Dempster and Co. Ltd., 51⁄ 2 % preference shares of £1, 19[18], signed by Owen Phillips as Director, capital £3, 635,000, vignette of steamship, green, pink underprint, about very fine. £60

428 Greenock Steamship Co. Ltd., £5 shares, 18[82], no.204, vignette of sail assisted steamship at top, company flag in scrollwork at left, black, fine to very fine.

423 Elder Dempster and Co. Ltd., 6% preference shares of £1, 19[18], no.3961, signed by Owen Phillips as Director, vignette of steamship, green, pink underprint, very fine.

£60

£60 424 European & American Steam Shipping Co. Ltd., £9 preference shares (3) and £9 ordinary shares (13), all 1857, black printing, the preference shares on peach coloured paper, all except one are about extremely fine or better. (16)

429 Hastings & St. Leonards Passenger Steamship Co. Ltd., £10 share, 18[85], no.59, vignette of sail assisted steamship in scrollwork at left, black, embossed seal; together with hastings, St.Leonardson-Sea & Eastbourne Steamboat Co. Ltd., £5 share, 188[8], black, embossed seal, both about extremely fine. (2) £60

£120 425 Glasgow based companies: Cape Steam Shipping Co. Ltd., £10 shares, [1900], no.48, scrollwork at left with red and blue flag, red, couple of edge tears at bottom, very fine; another but dated [1902] and with capital increase overprinted in blue, good very fine; Bank Line Ltd., £1 ‘A’ preference shares, [1913], redbrown printing, with capital increase handwritten at top, stamped cancelled, about very fine. (3) £60

430 Hastings & St. Leonards Passenger Steamship Co. Ltd., £10 share, 18[85], no.67, scrollwork at left with vignette of steamship, black, has been mounted at top edge otherwise about extremely fine; Mount’s Bay Steam-Ship Co. Ltd., £100 share, 188[1], no.137, black, embossed seal depicts St.Michael’s Mount, pinholes at top left, right edge a little chipped, very fine; Tyne and Wear Steam Ship owning Co. Ltd., £10 shares, 18[83], black, red seal, somewhat creased, fine, and Port of Portsmouth and Ryde United Steam Packet Co. Ltd., £100 debenture, 1878, no.36, black, seal torn away as cancellation, very fine. (4) £80

426 Great Ship Co. Ltd., one share of £1, 1859 (5 examples), printed in either pale green or mauve but no variation of printing, embossed seal depicts the S.S.Great Eastern, one has a few tone spots, very fine to extremely fine. (5) £100 427 Greenock Steamship Co. Ltd., £5 shares, 18[81], no.128, sail assisted steamship at top, company flag in scrollwork at left, black, a few tone spots, fine to very fine. £80

431 Improved Rudder Company, 100 shares of £1, 1855, small format piece printed by Waterlow & Sons, extremely fine; together with other Marine related pieces comprising oertz International Streamline Rudder Co. Ltd., 10/- shares, [1929], and 3 different funding certificates, 1933 (2) and 1934; Marine Smokeless Mechanical Stoker Co. Ltd., £1 preferred ordinary shares, 19[09]; Marine Transport Co. Ltd., £1 shares, 19[20], and, 2 different Marine Products Ltd., 1/- ordinary shares and £1 preference share, both 19[27], fine to very fine. (9) £60 Page 83

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Bonds and Share Certificates of the World 432 Intercolonial Royal Mail Steam Packet Company Limited, pair of certificates for 5 shares, 18[59], no.1362, £25 paid, and 5 shares of £5 each, 186[1], no.2967a, both signed as director by Lord George Paulet, and issued to his sister the Rt.Hon. Lady Augusta Paulet, black, the first with red overprint, embossed seals depicting sailing ship, good very fine.

(2) £80 Formed to operate routes between Great Britain and Australasia. Name changed in 1865 to the Panama, New Zealand & Australian Royal Mail Steam Packet Company, when it acquired the contract to operate the mail service between Australia and Panama.

£120

436 Lamport and Holt Ltd., a series of preference share certificates, 19[14], no.1711, capital £1,000,000; 19[14], no.3873, capital £2,000,000, and, 19[22], no.6407, capital £9,000,000, all of the same design with steamship at top, ornate border, black, pink underprint, fine to very fine. (3)

433 Isle of Man Steam Packet Co. Ltd., certificate for £1 ‘C’ shares, 18[89], no.816, vignette of twin funnel paddle steamer at top, trisceles at either side, black, small punch hole at top left with a couple of rust marks otherwise very fine. £80

434 Italo-Britannica Royal Italian Mail Steam Navigation Co. Ltd., £5 shares, £3 paid, 189[0], no.26, black; together with Lynn and hamburg Steamship Co. Ltd., £10 shares, 18[91], no.32, black, and Liverpool and hamburg Steam-Ship Co. Ltd., £100 shares, 19[10], no.13, black, the second piece is ink cancelled, fine to very fine. (3) £100

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435 Kaye Steam Navigation Co. Ltd., £1 shares, 192[2], no.19, blue and red flag in centre; together with English & Continental Shipping Co. Ltd., £10 shares, 189[2], no.132; S.S.kings Lynn Ltd., £1 shares, 19[02], no.14; Devon Shipping Co. Ltd., £1 shares, 192[0]; Albany Steam navigation Co. Ltd., £1 shares, 19[19], no.62; Care & Marquand Shipping Co. Ltd., £1 shares, 19[19], no.31; Marlborough Steamship Co. Ltd., £1 shares, 19[20], no.164; Portfield Steamship Co. Ltd., £1 shares, 1[920], no.1581, and Paragon Steamship Co. Ltd., £1 shares, 19[23], no.17, the last discoloured at top left otherwise generally about very fine to good very fine. (9)

£60

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May 20, 2011 - London 441 Royal Exchange Shipping Company Ltd., Monarch Line, a 4 page prospectus, 1882, with a good vignette of one of the company’s ships, black, several spike holes; together with Castlehll Steamship Co. Ltd., £1 shares, 18[82], no.115; Seven Seas Schooner Ltd., £1 shares, 19[34], no.128; Rochester City Steamship Co. Ltd., £200 shares, 19[10], no.7, edge tears and piece missing from left edge; Maindy Shipping Co. Ltd., £1 shares, 19[20], no.4383; Eskside Steam Shipping Co. Ltd., trust deed for securing an issue of debentures, 1903, on vellum, and an unissued debenture for £100, 1907; helredale Steamship Co. Ltd., unissued £50 debenture, 1906, and Coast Lines Ltd., ordinary stock, 19[57], fine to very fine. (9) £100

437 Marine Salvage: a small selection of certificates comprising All Seas Marine & Salvage Co. Ltd., £1 shares, 19[20], very large format piece with ‘neptune’ in centre, blue and black; Treasure Recovery Ltd., 5/ordinary shares, 193[0], underprint vignette of the Cocos Islands; navarino Recovery Ltd., 2/- shares, 192[5], green; Ship Salvage Corporation Ltd., £1 shares, 19[20], mauve (5 examples), and, Tyne & Tees Salvage & Shipbreaking Co. Ltd., £1 shares, 191(fully issued but date omitted in error), generally about very fine or better. (9) £150 438 North-Western Shipping Co. Ltd., £20 shares, 18[87], no.24, scrollwork at left, black; together with Brunswick Shipping Co. Ltd., £10 shares, 18[98], no.23, black, and north Pier Steamship Company, Blackpool, Ltd., £10 share, 19[01], no.3147, black, very fine, the last somewhat better. (3)

442 Royal Mail Steam Packet Company, a good collection of 15 different certificates, 1905 to 1929, ordinary stock (6), preference stock (4), 61⁄ 2 % stock (4) and £5 preference stock, all with steamship in left border, various colours, fine to very fine, several scarce.

(15) £80

439 Portfield Steamship Co. Ltd., a group of 3 different certificates for £1 shares, 1[919], no.300, capital £100,000, 1[920], no.1080, capital £100,000 overprinted £500,000 in black, and 1[920], no.1641, capital £500,000, all with company flag in scrollwork at left, black, printed by Waterlow & Sons, fine to very fine. (3) £50 440 Rock Ferry Co. Ltd., £20 shares, 186[85], black; together with Bristol Steam Ferry Co. Ltd., £10 shares, 188[0], black, and, Great Eastern Train Ferries Ltd., £1 shares, 19[29], blue, good very fine, fine and about very fine respectively. (3)

£150

443 Rumney Steamship Co. Ltd., £1 shares, 19[19], vignette of steamship at right, black; together with Summerfield Steamship Co. Ltd., £1 shares, 19[19]; Care & Marquand Shipping Co. Ltd., £1 shares, 19[19] (2 examples); Craggs Steamship Co. Ltd., £1 shares, 19[20]; Devon Shipping Co. Ltd., £1 shares, 192[0]; Ensign Shipping Co. Ltd., £1 shares, 192[0]; Farley Steam navigation Co. Ltd., £1 shares, 19[20], and “Fairfield” Steamship Co. (1920) Ltd., £1 shares, 1920, the first with small repaired tear at top right corner otherwise fine to very fine. (9) £120

£50

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Bonds and Share Certificates of the World 444 Seamless Steel Boat Co. Ltd., £5 shares, 18[92], underprint of small steel boat hull; together with shipping company shares (8), Castle-Eden Steamship Co. Ltd., £1 shares, 18[85]; “kingswell” Steamship Co. Ltd., £50 shares, 189[1]; S.S.kings Lynn Ltd., £1 shares, 19[02]; “Celtic Chief” Ship Co. Ltd., £100 shares, 19[09]; Steamships “Demetian” and “ordovician” Co. Ltd., £20 shares, 1[903]; Portfield Steamship Co. Ltd., £1 shares, 1[920]; British Dominions Steamship Co. Ltd., £1 shares, 19[19], and Dean Shipping Co. Ltd., £1 shares, 19[19], generally fine to about very fine. (9) £120

447 Thames Iron Works Shipbuilding & Engineering Co. Ltd., 4% debenture for £100, 1899, no.1056, and 5% second debenture for £100, 190[1], no.386, large format pieces with vignette of neptune and hercules, ornate borders, mauve and red respectively, printed by Waterlow & Sons, the first with label residue at top right otherwise very fine. (2)

445 Severn Steam Boat Company, £25 share, 1836, no.133, small format, black printing, on vellum, very light toning, very fine.

£120 £120 448 Thames Iron Works Shipbuilding & Engineering Co. Ltd., 4% First Mortgage debenture, £100, 1899, no.1335, vignette at top of neptune and Vulcan with shipping in background, lovely ornate border, mauve, printed by Waterlow & Sons, executors annotation in right margin, very fine.

446 Steam Ship “Perfero” Ltd., £10 shares, 188[4], no.42, black; together with National Steamship Co. Ltd., £10 share, 1874, no.62435, black, and, Summerfield Steamship Co. Ltd., £1 preference shares, 19[21], no.157, black, red flag in centre, fine to very fine. (3)

£60 £50 449 Thames Iron Works Shipbuilding & Engineering Co. Ltd., 5% Second Mortgage debenture, £100, 190[1], no.612, large format piece with vignette at top of neptune and Vulcan with shipping in background, lovely ornate border, red, printed by Waterlow & Sons, very fine. £60

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450 West Country and South of England shipping companies, Plymouth Piers, Pavilion, and Saltash, Three Towns Steamship Co. Ltd., £1 ordinary shares, 19[39], vignette of pier and pavilion, black, red seal; Mount’s Bay Steam-Ship Co. Ltd., £100 share, 188[1], embossed seal depicts St.Michael’s Mount, small tear at bottom edge, and, East Kent Shipping Co. Ltd., £10 share, [1865], black, very fine and better. (3)

452 White Star Line Ltd., a collection of 4 different certificates comprising 19[27], capital £9,000,000, no.844; 19[28], capital £9,000,000, variety, no.15878; 19[34], capital £11,000,000, no.27385, and 19[35], capital £9,000,000 overprinted with £11,000,000, no.28159, the first 2 with facsimile signatures of Lord Kylsant, generally fine to about very fine. (4) £100 £80

451 Whitby & Robin Hood’s Bay Steam Packet Company, one share, 185[4], no.170, black, on vellum; one share, 1857, no.198, black on pale blue paper, and with Limited added to the title, £25 share, 18[67], no.30, black, printed by Waterlow, generally very fine; together with Staithes Shipping Company, one share, 185[6], black (3 examples), and unissued (2 examples), good very fine to extremely fine. (8)

The White Star Line, prior to the formation of this company were owners of the ill fated Titanic.

453 Whitehaven Shipbuilding Co. Ltd., £20 shares, 188[1], 3 examples, no’s 226, 228 and 235, scrollwork at left, black, good very fine. (3) £50

£80

454 A group of proof certificates for shipping companies, comprising British and African Steam navigation Co. Ltd., 19- (circa 1900); norse king Steamship Co. Ltd., Glasgow, 189-; Sutherland Steamship Co. Ltd., 189-, and Taylor & Sanderson Steam Shipping Co. Ltd., circa 1900, all printed in black on thick card, the last with a small edge tear at right, extremely fine. (4) £100 455 A group of Edinburgh based ‘one ship’ companies managed by Thomas C. Steven & Co., Ardenza Steam Ship Co. Ltd., £100 shares, of 75 issued, 19[14], no.7; Auriac Steam Ship Co. Ltd., £100 shares, of 125 issued, 19[17], no.22, and Avessac Steam Ship Co. Ltd., £100 shares, of 410 issued, 19[17], no.10, all black printing with embossed seal depicting the Steven flag, the first good fine, the others very fine. (3) £50

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Bonds and Share Certificates of the World 460 A good group of shipping companies, comprising Avis Steamships Ltd., £10 shares, 188[6], no.163, black; “Edderside” Shipowning Co. Ltd., £25 shares, 18[84], no.76, black; Steamship Armathwaite Co. Ltd., £100 shares, 188[1], no.70, black; Steamship “Mangara” Co. Ltd., £100 shares, 18[89], no.34, black, and Wycliffe Steamship Co. Ltd., West hartlepool, £100 share, 18[81], no.17, black, fine to good very fine and a scarce group. (5) £150

456 A pair of Liverpool one ship’ companies, Sailing Ship “Glenlui” Co. Ltd., £100 shares (of 192 issued), 18[90], no.44, and Sailing Ship “Dalgonar” Co. Ltd., £100 shares (of 225 issued), 18[92], no.6, both of the same design printed in black on buff paper, embossed seal depicts the Line’s flag of a kangaroo, the second slightly discoloured, very fine. (2) £60 457 A group of ‘one ship’ companies managed by the Glasgow firm of Maclay and McIntyre, Steamship “Craigendoran” Co. Ltd., £150 share (of only 64 issued), 18[93]; Steamship “Irthington” Co. Ltd., £100 share (of only 60 issued), 18[919]; Steamship “nyanza” Co. Ltd., £100 share (of only 385 issued), 18[919], and, Steamship “Jeanara” Co. Ltd., £100 share (of only 320 issued), 19[19], all of identical design, black with scrollwork at left, generally very fine.

(4)

£250

£100 458 A group of four ‘one ship’ companies, comprising Blackbraes Ship Co. Ltd., £100 shares, 18[96], no.88; Dunsyre Ship Co. Ltd., £100 shares, 18[91], no.27; Durbridge Ship Co. Ltd., £100 shares, 18[92], no.21, and Poltalloch Ship Co. Ltd., £100 shares, 18[93], no.34, all of the same design with company flag in centre and in embossed seal, black, all issued to the same shareholder and all with handwritten endorsement of the company being struck off in 1911, fine to very fine. (4) 459 A group of Newcastle based shipping companies, comprising Tyne & Wear Steam Ship owning Co. Ltd., £10 shares, 18[84], no.451, black, red seal, very fine; “Ella Sayer” S.S. Ltd., £100 shares, 18[99], no.229, black on grey paper, heavy folds, fine to very fine; Joplin & hull Shipping Co. Ltd., £1 shares, [1920], no.19, black, good very fine, and Tyne Wherry Co. Ltd., 10/- shares, 19[24], no.195, black, ink cancelled across face, fine to very fine. (4)

463 A fine group of shipping companies, comprising Albany Steam navigation Co. Ltd., £1 shares, 19[19]; Anchor Line (henderson Brothers) Ltd., £10 preference shares, 1[899]; Bank Line Ltd., £1 preference shares, [1919]; Bristol Channel Steamers Ltd., 10/- shares, 19[23]; “T” Steam Coasters Ltd., £1 shares, 19[16]; Tatem Steam navigation Co. Ltd., £1 shares, 19[19]; Trident Line Ltd., £10 ordinary shares, 19[29]; Turner Steam navigation Co. Ltd., £1 shares, 192[0]; Vernco Steamship Co. Ltd., £1 shares, 19[20], and Westville Shipping Co. Ltd., £1 shares, 19[20], mixed condition but generally problem free and fine to very fine. (10) £120

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462 A group of shipping companies, comprising Western Counties Shipping Co. Ltd., 4 types, 19[18] and 19[20]; Town Line (London) Ltd., 4 types, 1918 to 1924; Gould Steamships & Industrials Ltd., 192[0]; Anglo-Celtic Shipping Co. Ltd., 19[32], and, AngloEuropean Steamship Co. Ltd., 2 types, both 19[20], fine to very fine. (12) £100

£100

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461 An extensive collection of Shipbuilding companies: Earle’s Shipbuilding & Engineering Co. Ltd., 2 types, 1898 and 1899; Thames Iron Works Ship Building, Engineering & Dry Dock Co. Ltd., 1864; Whitehaven Shipbuilding Co. Ltd., 1881; Clyde Valley Ship Welders Ltd., 1919; Tydvil Engineering & Ship Repairing Co. Ltd., 1922; Blyth Shipbuilding & Dry Docks Co. Ltd., 1918, small vignette at left; Ropner Shipbuilding & Repairing Co. (Stockton) Ltd., 2 types, 1923; Rennie, Ritchie & newport Shipbuilding Co. Ltd., 1920; northumberland Shipbuilding Co. Ltd., 6 types, 1920’s; Eltringhams Ltd., 2 types, with facsimile signature of Clarence hatry, 1922 and 1926; Irvine’s Ship Building and Dry-Docks Co. Ltd., 2 types, with facsimile signature of Clarence hatry, 1920 and 1922; Richardson, Duck & Co. Ltd., shares, 1920 and debenture, 1919; Jones’ Buckie Slip & Shipyard Ltd., 2 unissued certificates, circa 1920; Palmers Shipbuilding & Iron Co. Ltd., 4 types, 1927 to 1930, and, Wallsend Slipway & Engineering Co. Ltd., 2 types, 1900 and 1924, mixed condition but many are very fine and some better. (30)

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May 20, 2011 - London 464 A group of shipping companies, comprising Llewellyn Shipping Co. Ltd., 3 types, 1919 and 1920; Beeslack Steamship Co. Ltd., £10 shares, 1906; Marlborough Steamship Co. Ltd., Cardiff, 2 types, both 1920; Devon Shipping Co. Ltd., £1 shares, 192[0]; Craggs Steamship Co. Ltd., £1 shares, 19[20], and, Dean Shipping Co. Ltd., £1 shares, 19[19], fine to very fine. (9) £100 465 A fine group of shipping companies, comprising Albany Steam navigation Co. Ltd., £1 shares, 19[19]; Annittina Shipping Co. Ltd., £10 shares, 191[6]; Aster Shipping Co. Ltd., £1 shares, overprinted 5/-, 191[9] and 19[20], different capitals; Bathampton Steam navigation Co. Ltd., £1 shares, 191[6]; Llewellyn Shipping Co. Ltd., £1 shares, 19[19]; Lombard Steam Ship Co. Ltd., £100 shares, 19[08]; Loyal Line Ltd., £1 shares, 19[19]; Pennant Shipping Co. Ltd., £1 shares, 19[20], and Portsmouth Steamship Co. Ltd., £1 shares, 19[25], mixed condition but generally problem free and fine to very fine. (10)

468 A fine group of shipping companies, comprising ottoman Line Ltd., £10 ordinary shares, 19[29]; Paragon Steamship Co. Ltd., £1 shares, 19[23]; nixon’s navigation Co. Ltd., £10 shares, 18[99] and debenture stock, 19[08]; Grayfield Steamship Co. Ltd., £10 shares, 1[900]; hazelwood Shipping Co. Ltd., £1 shares, 19[20]; Iberian Steam Ship Co. Ltd., £10 shares, 19[04]; kaye Steam navigation Co. Ltd., £ shares, 192[6]; kirk Shipping Co. Ltd., £1 shares, 19[20], and neville Shipping Co. Ltd., 5/- shares, 19[24], mixed condition but generally problem free and fine to very fine. (10) £120

£120 466 A goup of shipping companies, comprising Bristol Channel Steamers Ltd., 10/- shares, 19[22]; Regis Shipping Co. Ltd., £1 shares, 19[22]; Portfield Steamship Co. Ltd., £1 shares, 1[919]; Lombard Steam Ship Co. Ltd., £100 shares, 19[08]; Dean Shipping Co. Ltd., £1 shares, 19[19]; Loyal Line Ltd., £1 shares, 19[19]; Sanderson, Matthew Shipping Co. Ltd., £1 shares, 19[25]; Maindy Shipping Co. Ltd., £1 shares, 2 examples with different capitals, 191[6] and 19[20], and, neville Shipping Co. Ltd., 5/- shares, 19[31], generally fine to very fine. (10)

469 Ships and shipping companies, comprising Devon Steam Ship Co. Ltd., £10 shares, 188[3], no.61; “kingswell” Steamship Co. Ltd., £50 shares, 189[2], no.75; Seamless Steel Boat Co. Ltd., £5 shares, 18[94], no.95, underprint of steel hull; Anchor Line (henderson Brothers) Ltd., £10 preference shares, 1[899], no.435; Lodore Steamship Co. Ltd., £10 shares, 191[1], no.5; Lombard Steam Ship Co. Ltd., £100 shares, 19[08], no.66; Port of Portsmouth and Ryde United Steam Packet Co. Ltd., £100 mortgage debenture, 1878[9], no.99, part of seal removed as cancellation, and Tatem Steam navigation Co. Ltd., 19[36], no.3244, generally very fine. (8) £150

£120

467 A fine group of shipping companies, comprising Portsmouth Steamship Co. Ltd., £1 shares, 19[25];Regis Shipping Company Ltd., £1 shares, 19[22]; Reliance Shipping Co. Ltd., £1 shares, 190[6]; Rhondda Merthyr Shipping Co. Ltd., £1 shares, 19[19]; Scorrier Steam Coasters Ltd., £1 shares, 19[20]; Seven Seas Shipping Co. Ltd., £100 shares, 192[8]; Seven Seas Schooner Ltd., £1 shares, 19[35]; Stella Shipping Co. Ltd., £1 shares, 19[18] and 19[19], different capital, and Times Shipping Co. Ltd., £1 shares, 19[20], mixed condition but generally problem free and fine to very fine. (10) £120

470 An interesting group of certificates relating to commercial fishing, comprising British Steam Fishers Co. Ltd., £10 share, 185[6]; hampshire Fisheries and Reservoirs Co. Ltd., £5 share, 187[6], small piece out of bottom edge; Great Yarmouth Steam Trawling & Carrying Co. Ltd., £10 share, 18[73]; Boston Deep Sea Fishing and Ice Co. Ltd., £10 share, 18[92]; Tyne Steam Fishing Co. Ltd., £10 shares, 18[93], small vignette of trawler; Great Grimsby Albion Steam Fishing Co. Ltd., £5 shares, 18[99]; Great Yarmouth Steam Drifters Ltd., £1 shares, 19[02]; Crown Steam Fishing Co. Ltd., £10 shares, 190[5]; Vectis Steam Fishing Co. Ltd., £1 shares, 19[19]; Waveney Steam Drift Fishing Co. Ltd., £1 ordinary shares, 1[909] and 1[918], both with vignete of fishing boat; Stepney Steam Fishing Co. Ltd., £1 shares, 19[19]; Palatine Steam Trawling Co. Ltd., £10 shares, 19[15]; home and Colonial Steam Fishing Co. Ltd., £1 shares, 19[19]; Milford Steam Trawling Co. Ltd., 5/- shares, 19[47] and 19[49], with capital overprinted, and, a proof certificate for Muirheads Trawlers Ltd., 18(circa 1895), on thick card, mixed condition, fine to very fine and some better. (17) £200

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Bonds and Share Certificates of the World 474 Whitehead Aircraft (1917) Ltd., 1/- deferred ordinary shares, 19[18], signed by James Whitehead and Digby Whitehead as Directors, airfield flanked by biplanes with another in underprint, yellow and black, annotation at top, very fine.

Aviation 471 Aircraft Disposal Company Ltd., a group of 40 5% debentures for £145, 1923, large format 4 page documents with ornate border, green and black, extremely fine. (40)

£140

£300 Formed in 1920 to acquire surplus aircraft and spares belonging to the declining RAF with its main store at Waddon aerodrome, Croydon, Surrey. Modifications were made to various machines and in 1926 several ADC 1’s were sold to Latvia. Liquidated in 1930.

Piers, Docks and Harbours

475 Coatham Victoria Pier Co. Ltd., £5 shares, 1872, no.1725, ornate border, black, printed by Waterlow & Sons, paper crinkle diagonally across face, very fine. £50

472 Firth Helicopters Ltd., £1 ‘A’ shares, 19[47], blue; together with Aeronautical Corporation of Great Britain Ltd., 5 shilling shares, 19[36], and, Aircraft Manufacturing Co. Ltd., £1 ‘B’ preference shares, day and month inserted but year omitted, circa 1918, generally very fine. (3) £100

476 Docks and wharves: Swansea Dock Company, £20 share, 18[47], no.727, company emblem at top, blue on blue paper, attractive embossed seal; Botolph & nicholson’s Wharves Co. Ltd., £10 shares, 18- (issued but undated in error, circa 1890), no.75, scrollwork left, black; Queenborough Wharf Co. Ltd., £10 debenture, [1908], no.1594, large format, ornate border red and black, and, Mersey Docks & harbour Board, 31⁄4% debenture stock certificate dated 1965, blue, very fine and better. (4) £80

473 Whitehead Aircraft (1917) Ltd., 1/- deferred ordinary shares, 19[18], no.1621, signed by James Whitehead and Digby Whitehead as Directors, airfield flanked by biplanes with another in underprint, yellow and black, good very fine. £100 www.spink.com

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May 20, 2011 - London 481 Porthgain Harbour Ltd., a pair of certificates, ‘A’ debenture for £50, 1898, no.407, and ‘B’ debenture for £50, also 1898, no.10, large format pieces with ornate borders, black, 4 pages, good very fine. (2) £60

477 Dry Docks Corporation of London Ltd., £10 preference shares, 188[7], no.1063, scrollwork at left, black and red, about very fine. £50

482 Scarborough Promenade Pier Co. Ltd., £5 shares, 186[76], no.21, issued to and signed by John Woodall as director, coat of arms in centre, black, red overprint ‘6% Preference shares’, very fine.

478 Dry Docks Corporation of London Ltd., - another similar, no.1083, about very fine.

£50 £50

479 Greenwich Pier Company, £10 share, 1840, no.1767, large coat of arms with shipping scenes in background, black on thick paper, almost extremely fine. £160 480 The Marina Limited, Douglas, Isle of Man, £1 shares, 189[3], black, good very fine; together with Brean Down harbour Company, £10 share, 186[5], black, extremely fine; Saint George’s harbour Company, 5 shares of £20, 18[57], black on buff paper, very fine, and Port of London Authority, 3% ‘A’ stock, 19[28], red, punch holes at left, fine to very fine.

(4) £120

483 Swansea Dock Company, £20 shares, 18[47], no.746, issued to Lewis Weston Dillwyn, logo in centre, blue on blue paper, embossed seal; together with Mersey Docks and harbour Board, 31⁄4 % debenture stock certificate, 1965, very fine to extremely fine. (2) £50

484 Swansea Dock Company, £20 share, 18[47], attractive bue printing, embossed seal; together with Wandsworth Bridge Company, £10 share, 186[5], black; Scarborough Valley Bridge Company, consoidated stock certificate, 18[65], black on buff, split at fold, and, Morecambe (Regent Road West End) Pier Co. Ltd., £1 shares, 189[9], blue, generally about very fine. (4) £100 Page 91

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Bonds and Share Certificates of the World 485 A small collection of pier companies, comprising Great Yarmouth Wellington Pier Co., £10 share, 18[54] issued to Viscount Ranelagh, attractive embossed seal; Folkestone Pier and Lift Co., £10 shares, 18[88], Victoria and crown in scrollwork at left, blue, some discolouration to right of seal, fine to very fine; Ramsgate Marina, Pier & Lift Co. Ltd., £5 shares, 189[903], blue; Morecambe (Regent Road West End) Pier Co. Ltd., £1 shares, 189[8], blue, and Brighton West Pier Co., £10 shares, 19[21] and 19[49], slightly different printings, black, both stamped cancelled, generally very fine or better unless stated. (6)

Motor Cars and Cycles

£150

Buses and Taxis

488 Argylls Ltd., 10/- ordinary shares, 190[9], no.359, vignette of motor car in scrollwork at left, blue, very fine. £60 Motor car manufacturer based in Glasgow, commencing with a small de Dion type voiturette. By 1904 the company were Scotland’s leading manufacturer and a large new factory was built at Alexandria, near Glasgow. Despite being the 5th largest producer in Great Britain it failed from lack of funds in 1914.

486 Metropolitan Saloon Omnibus Co. Ltd., one share of £1, 185[7], no.1332, attractive vignette of horse drawn bus with inside and outside passengers, black, about extremely fine. £100

487 Tramways, buses and cab companies: Glasgow Tramway & omnibus Co. Ltd., £9 shares, 18[94], black; Co-operative omnibus Association Ltd., £5 shares, 1872, black on pink, horse drawn bus in embossed seal; Leinster Can Co. Ltd., £1 shares, 188[2], black; Railways & Metropolitan omnibus Co. Ltd., £5 shares, 18[91], black, printed by Waterlow & Sons, and, South Staffordshire Tramways (Lessee) Co. Ltd., deferred shares, 190[4], brown, a nice lot in generally very fine to good very fine condition. (5)

£60

490 Meteorite Cars Ltd., 8% First Mortgage Debenture for £100, 1922, no.28, of only 70 issued, large format piece with ornate border, blue and black, good very fine. £50 £150

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489 Hispano-Suiza Motors Limited, 5/- shares, 19-, a specimen certificate printed by Bradbury, Wilkinson & Co., circa 1925, emblem at top, ornate border, green and black, red circular Bradbury, Wilkinson & Co. specimen stamp at bottom, with counterfoil, extremely fine.

Registered 1912 as Meteorite Motors Ltd., based in West London. Began by making a cyclecar but in 1915 added four and six cylinder models. Name changed in 1921 to Meteorite Cars Ltd. but production ceased in 1924.

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491 New Enfield Cycle Co. Ltd., £1 ordinary shares, fully paid, 189[6], no.1556, scrollwork at left, floral design above title, green, stamped CAnCELLED, very fine. £60

Mining and Oil 494 British Aluminium Co. Ltd., a specimen 5% registered Prior Lien debenture for £100, 19(annotation for 1910), from the Bradbury, Wilkinson & Co. archive, vignette of kinlochleven works at top, green and black, numbered 0000, small hole cancels over signature area, with coupons, American style, extremely fine.

492 Allt-y-Crib Silver-Lead Mining Co. Ltd., £2 shares, 187[2], black; together with Glyndwr Mining Co. Ltd., £1 shares, 18[90], black; nant-y-Brian & Trawsnant Silver Lead Mining Co., £10 share, undated but circa 1852, black printing, on vellum, and, Snow Brook Silver Lead Mining Co. Ltd., £5 shares, 187[7], ornate border, black, bottom left corner missing otherwise good very fine, the remainder good fine to very fine. (4)

£80 £120

493 Blaen-Y-Glynn Silver Lead Mining Co. Ltd., £70 shares (of only 64 issued!), 18[70], no.56, black; together with Cambrian Mining Co. Ltd., £2 shares, 187[80], no.1701, black on green paper; Llangynog United Mining Co. Ltd., £5 share, 185[7], no.5170, black on blue paper; Lery Mining Co. Ltd., £1 shares, [1909], no.65, black, and, a receipt on account of 10 shares in the South Wales Mining Co., 1825, signed

by London bankers, Sir Peter Pole, Bart. & Co., black, generally very fine or better. (5)

Built between 1905-9, the Kinlochleven Aluminium works was the second smelter to be built by the company and included a hydro-electric power station, the largest of its kind at that time. The works closed in 2000.

495 Cafartha Lead Mining Co. Ltd., £5 shares, 187[1], black; Eaglebrook Mine (Cost Book), one share, 18[62], black, fine; Cardigan Mines Ltd., 2/6d shares, [1907], black, and, 2 examples of Fron-Vellan Lead Mining Co. Ltd., for 5 and 10 shares of £1 each, both 1870, black, generally very fine or better unless stated. (5) £120

£120

496 Cothy Mines Ltd., a pair of £20 debentures, 1910 (altered by hand to 1911), no’s 34 and 35, large format, ornate border, blue and black, 4 pages, very fine to extremely fine. (2) £60 Gold was found at this old Roman mine at Dolaucothi, Carmarthenshire, in 1848 and several companies have subsequently operated there. This company acquired the lease in 1909 but failed in 1912.

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497 East Clogau Gold Mining Co. Ltd., 5 shares of £1, 1862, no.42811-42815, scrollwork at left, blue and red, good very fine. £120

499 Groeswen & Caradog Collieries Ltd., bearer warrant for 5 shares of £1, 190[2], vignette of mine buildings at top, ornate border, large format printed in green and pink, text in English and French, with coupons, extremely fine. £50 Formed to acquire the Groeswen Colliery, 9 miles north west of Cardiff and the Caradog Colliery, 16 miles north of Cardiff.

500 Nanty Mines Co. Ltd., £20 share, 186[0], no.194, black on pink paper; together with Lery Mining Co. Ltd., £1 shares, [1909], no.34, black; Llanarmon Lead Mining Co. Ltd., £2 share, 18[70], no.4314, black, and, Minera Ragman Mining Co. Ltd., £5 share, 18[63], no.944, black on blue paper, generally very fine and better. (4)

498 Elgar Silver-Lead Mining Co. Ltd., £1 shares, 187[4], no.79, brown; Glan Clwyd Lead Mining Co. Ltd., £1 shares, 187[5], no.159, black; Cwm Vron Lead Mining Co. Ltd., £2 10s shares, 1871, no.351, black, and, Plynlimmon Lead Mining Co. Ltd., £1 debenture bond, 18[78], no.47, black on pale blue paper, about very fine to extremely fine. (4)

£100 £120 501 Nidderdale Lead Mining Co. Ltd., a group of certificates (24) for two preference shares of £1 each, 186[5], vignette of bridge and entrance to the mine, black with pink underprint, several have edge splits and are somewhat brittle but many are extremely fine. (24) £200

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May 20, 2011 - London 502 Robert Heath and Low Moor Co. Ltd., a group of 20 x £100 debentures, 19[20], large format pieces with ornate border, brown, printed by Waterlow & Sons, 4 pages, very fine to extremely fine. (20) £100 A combination of the Robert Heath and Sons, owners of the Norton Ironworks at Stoke on Trent and the Low Moor Company of Bradford, owning numerous coal and ironstone mines in Yorkshire and Staffordshire. Heath also built numerous steam locomotives between 1888 and 1926. Collapsed in 1928.

505 A group of British financed oil companies operating in Canada, Russia, Algeria, Trinidad and Poland; Graham Island (British Columbia) oilfields Ltd., 19[22]; Parson’s Pond oil Syndicate Ltd., 19[14]; Constantine oilfields Ltd., 19[26]; Uroz oilfields Ltd., 19[20]; Premier oil & Finance Co. Ltd., 192[4] (2 examples); Maikop Pipeline and Transport Co. Ltd., [1911]; Russian General oil Corporation, 5 shares, 19[12]; Spies Petroleum Co. Ltd., capital £75,000, 19[11] and 19[12], printing varieties and capital £1, 500,000, 19[14] and 19[19]; Baku Consolidated oilfields Ltd., 19[43], and others (3), mixed condition but generally fine to very fine, some better. (16) £100

Gas and Water

506 Canterbury Gas Light and Coke Company, £25 share, additional capital, 18[24], no.466, large format piece with scrollwork at left, black printing on thick paper, tiny chip from bottom margin, near extremely fine. £150 503 South Staffordshire Mines Drainage Commissioners, Tipton District, 43⁄4% debenture for £100, 188-, a specimen certificate from the Bradbury, Wilkinson & Co. archive, large format piece, black with pink underprint, with coupons, small hole cancels, good very fine. £60

504 Welsh slate companies: Tal y Drws Slate Co. Ltd., £10 share, 186[4], and £5 preference share, 186[8], Prince of Wales’ crown in centre, mauve and black respectively; Era Welsh Slate Quarries Ltd., £1 ordinary shares, 189[8], ornate border, blue, and, Tyn-Y-Bryn Quarries Ltd., £1 shares, 19[19], ornate border, blue, printed by Waterlow & Sons, the last with rusty clip marks at top, very fine to extremely fine.

(4)

507 Waterworks and water supply: a collection of certificates comprising Brompton, Chatham, Gillingham & Rochester Water Works Co., 3 types, 186[3], 1877 and 1891; Dearne Valley Waterworks Co., £10 share, 1883; Matlock Bath Water-Works Co., £5 share, 186[4] and £5 preference share, 186[7]; Weymouth Waterworks, £20 share, 185[60]; Pure Water Co., £2 shares, 18[73]; Stroud Water Company, £10 shares, 18[90]; Shoreham and District Waterworks Co., £10 share, 18[70]; north Warwickshire Water Co., £10 shares, 189[9]; newhaven & Sleaford Water Co. Ltd., £10 mortgage debenture, 1883; Peacehaven Water Co. Ltd., £1 preference shares and 1/- ordinary shares, both 19[24], and, early transfer certificates (5), and others (4), generally very fine and better. (23) £200

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508 West Middlesex Water Works (Company of Proprietors of the .. ), certificate for one £100 share, 15th July 1813, no.3287, black printing on vellum, red paper seal, usual light discolouration, good very fine. £80 Established in 1806 with main works at Hammersmith.

Gradually extended supply to Hendon, Acton, Hampstead and Barnes. Absorbed by the Metropolitan Water Board in 1902.

511 Albion (Burton-on-Trent) Brewery, Ltd., £10 ordinary shares, no.85 and £10 preference shares, no.80, both 189[8] and issued to the same shareholder, small vignette of Britannia at top left, ornate borders, red and blue respectively, good very fine. (2)

509 West Middlesex Water Works (Company of Proprietors of the .. ), certificate for one £100 share, 15th July 1813, no.3274, black printing on vellum, red paper seal, usual light discolouration, good very fine.

£80

£80

Breweries and Distilleries 510 Abbey Mills Distillery Ltd., 10% debenture for £500, no.1, large but plain format, black, 4 pages; together with other Distillery pieces (4) comprising old Bushmills Distillery Co. Ltd., £10 debenture, 1892 (2), no’s.8339 and 8340, large format, black, 4 pages; northern Distilleries Ltd., £10 preference shares, 189[7], no.7, scrollwork at left, brown, and, P. Mackenzie and Company, Distillers, Ltd., proof preference share certificate, 18- (circa 1890), on thick card, black, the last with small tear at right, very fine to good very fine and better. (5)

£60

513 Brear and Brown Ltd., pair of certificates for £10 ordinary shares, no.85, and £10 preference shares, no.48, both 18[94], company logo in circular design in centre, scrollwork at left, blue and brown respectively, the second has two small chips from the top border otherwise very fine. (2) £60 £120

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512 Birmingham Breweries Ltd., pair of certificates for £5 preference shares, 189[7], no.490, and £50 mortgage debenture, [1896], no.907, BB monogram in circular scrollwork at top, red and black respectively, very fine and about very fine. (2)

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517 Gartsides (Brookside Brewery) Ltd., 41⁄4% first mortgage debenture stock certificate, 19[22], no.631, very ornate piece with sheaf of barley in the centre, heavy scrollwork borders, mauve with pale green underprint, printed by Waterlow & Sons; together with Empress Brewery Co. Ltd., £10 preference shares, 189[9], no.1139, scrollwork at left, red, both are good very fine. (2)

514 Burton & Lincoln Breweries Ltd., pair of certificates for £10 ordinary shares, 18[91], no.661, and £10 preference shares, 18[90], no.154, coats of arms of Burton on Trent and Lincoln beneath title, scrollwork at left incorporating ‘cat and mouse’ trademark, red and black, printed by Waterlow & Sons, very fine. (2)

£60 £80

515 City of London Brewery Co. Ltd., ordinary stock certificate, 186[3], scrollwork at left, orange-brown, dirty surface; hounslow Brewery Co. Ltd., £10 preference shares, 189[4], no.57, red; Meux’s Brewery Co. Ltd., £1 ordinary shares, 19[28], no.1259, scrollwork at left, black, very fine or better. (3)

518 A collection of Ind Coope certificates, comprising Ind Coope and Co. Ltd., 6% cumulative preference shares, [1898], black, 41⁄ 2 % cumulative ‘B’ preference shares, [1899] and 190[6], red; Ind Coope & Allsopp Ltd., 4% debenture stock, 19[55], black, 5% consolidated debenture stock, 19[57], green, and, 6% redeemable debenture stock, 19[57], dark blue, generally fine to about very fine. (6) £60

£80

516 Cumbrian brewery companies, comprising Joseph Dalzell’s Parton and harrington Breweries Ltd., £10 preference shares, 18[92], mauve, rusty clip marks at top and endorsement on reverse shows through to the front, very fine; Carlisle old Brewery, Sir Richard hodgson & Co. Ltd., £5 ordinary shares, 19[12], no.162, black, red seal, good very fine; Penrith Middlegate Brewery Ltd., £5 preference shares, 190[4], no.48, scrollwork at left, brown, fine to very fine, and new Brewery Company Carlisle Ltd., £7 share, 18[79], extremely fine. (4) £80

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522 Selby Brewing and Wine Co. Ltd., £5 shares, 188[4], no.52, scrollwork at left with company arms, black, red seal; together with Cunningham’s and T & W. Thwaites Ltd., £10 ordinary shares, 189[7], no.124, scrollwork at left, blue, both very fine. (2) £70

519 Isle of Wight Brewery Co. Ltd., £20 mortgage debenture, 189[7], no.344, large format piece with ornate border, blue, with coupons, very fine. £50

520 Montgomeryshire Brewery Co. Ltd., £5 ordinary shares, 18[90], no.459, scrollwork at left, blue, good fine; together with other Brewery comanies (2), Thomas Phillips and Co. Ltd., £5 preference shares, 189[8], no.77, brown, small piece missing from bottom left corner, about very fine, and Tamplin & Sons Brewery, Brighton Ltd., £1 ‘B’ preference shares, 19[41], no.3134, black on pink paper, small tear at left edge and small piece missing from bottom left corner, fine to about very fine. (3) £60

£50

521 Oldfield Brewery Ltd., debenture for £25,000, 1895, of only 6 issued, black printing on thick waxed paper, 4 pages, embossed revenue stamps of £30 and £1 5/-, the first of which is scarce, stamped cancelled, good very fine; together with mortgage debenture stock certificates (2), 189[5] and 19[12], black, cancelled by triangular cut out through seal, fine. (3) £50

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523 Showells Brewery Co. Ltd., 4% preference stock, 19[28], no.2117, attractive scrollwork and architectural border, hops at left, blue, good very fine; together with J. & J. Yardley & Co. Ltd., £5 preference shares, 189[1904], no.628, red, grey underprint, punch holes at left, about very fine. (2)

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May 20, 2011 - London 525 Westlake’s Brewery Ltd., pair of certificates for £5 ordinary shares, 190[21], no.183, and 6% preference shares, 191[21], no.215, blue and blue on pink paper respectively; together with certificate for £1 ordinary shares, 19[21], no.154, different design, brown, red seal, generally very fine. (3) £60

526 Wiltshire Brewery Co. Ltd., pair of certificates for £5 ordinary shares, no.48, and £5 preference shares, no.227, both 18[88] and issued to the same shareholder, scrollwork at left, blue and red respectively, printed by Waterlow & Sons, very fine.

(2) £80

527 A collection of mainly brewery companies (19), 1879 to 1970, including Empress Brewery Co. Ltd., £10 preference shares, 189[9]; Buckley’s Brewery Ltd., mortgage debenture stock, 19[37]; Boddingtons’ Breweries Ltd., £1 preference shares, 19[34]; Army & navy Co-operative Breweries Ltd., £1 shares, 189[5]; Magee, Marshall & Co. Ltd., £10 ordinary shares, 18[95], and, Watney Combe Reid & Co. Ltd., preferred ordinary stock, 193[47], of the remainder two are unissued, a few are cancelled, mixed condition fine to very fine and better. (19) £80

528 A small group of brewing related certificates, comprising Brewers Cork and Tap Co. Ltd., £1 shares, 189[5], no.4, black; hop Bitters Co. Ltd., £1 shares, 188[7], no.46, hops at left and in centre scrollwork, green and another similar but 18[89], no.19, green and red; Brewers’ & Bottlers’ Supply Ltd., £1 shares, [1902], no.23, black; Breweries Industrials Ltd., £1 shares, 18[97], blue, red seal, no.18, and, operative Brewers Guild Ltd., 2/- shares, [1917], no.334, black, fine to very fine. (6)

524 Uttoxeter Brewery Ltd., £100 debenture, 18(89), no.108, ornate border, blue, with coupons; together with Gresley Brewery Ltd., £100 debenture, 189[2], no.100, ornate border, brown with pale blue underprint, very fine and fine to very fine. (2) £60

£100

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Commercial and Industrial 529 A collection of English certificates relating to sport, entertainment and recreation, comprising Brighton Turkish Bath Co. Ltd., 18[69]; Llandudno Victoria Palace Co. Ltd., 189[5]; Mudie’s Select Library Ltd., 186[4]; West Cowes Sea-Bathing Co. Ltd., 18[70]; Liverpool & District Billiards Association Club Ltd., 19[26]; Lyceum (1903) Ltd., 19[04] and 19[06], this discoloured overall; Morecambe Theatre Co. Ltd., £10 debenture, 190[1] (6 examples); British Talking Pictures Ltd., 19[29]; Victoria Gramophones Ltd., 19[29]; Symphony Gramophone & Radio Co. Ltd., 19[28]; Dominion Gramophone Records (Foreign & Colonial) Ltd., 19[29], and, British Brunswick Ltd., 19[28], mixed condition but mostly very fine and extremely fine. (18) £150

530 A small collection of certificates relating to food, drink and catering: Longton Coffee Tavern Co. Ltd., 188[2]; Wigan Coffee house Co. Ltd., 188[7]; hampshire Fisheries and Reservoirs Co. Ltd., 187[6]; Watkins’ Pomona Cider Co. Ltd., 1[898], stained overall; British produce Supply Association Ltd., 189[6]; Williams’s Isinglass Co. Ltd., £25 debenture, 1899; Saarburg Moselle Export Co. Ltd., £100 debenture, [1899]; Matté non-Alcholic Beverage Syndicate Ltd., [1914]; new Brewery Co. Carlisle Ltd., 18[79] (5 examples); Clarkson’s old Brewery Barnsley Ltd., unissued certificates, 19- (3 examples); Burton & District License holders’ Aerated Water Co. Ltd., 19[21]; Wiltshire Farmers Ltd., 191[2]; Milford haven Fish Curing Co. Ltd., issued but undated, 19- (circa 1910); J. Lyons & Co. Ltd., 192[7]; Devon Egg Producers Ltd., 193[0]; Cook’s Crisps Ltd., £50 debenture, 1934, and, British Rabbit Industries Development Co. Ltd., 19[38], an interesting lot which in general are very fine to about extremely fine. (23)

532 British-American Tobacco Co. Ltd., a set of unissued bearer warrants for 1 share, £5 stock, 10 shares, 20 shares, £25 ordinary stock, 50 shares and £100 ordinary stock, 19- (circa 1910), vignette of office building flanked by globes, very ornate border, blue, green, mauve, olive, brown, blue and blue-green respectively, text in English and French, printed by Waterlow & Sons, extremely fine. (7) £200

£150

531 Banking, insurance and finance companies: a small collection comprising Liverpool Marine Credit Co. Ltd., £20 share, 1865; Adelphi Bank Ltd., £20 share, 1864; Liverpool Marine Insurance Co. Ltd., one share, 186[9], small repaired tears; overend, Gurney and Co. Ltd., £50 share, 1865; Westminster Bank Ltd., £1 shares, 19[26]; Midland Bank Ltd., £1 shares, 19[59]; Cheque Bank Ltd., £100 bond, 1876, red ink cancellation, split and discoloured at edges; Union Marine Insurance Co. Ltd., 3 different certificates, 18[77], 188[3] and 19[00], and other certificates (3), generally very fine and better unless stated. (13) £100

533 British, Irish and Colonial Silk Company, a proof share certificate, 182-, probably by Perkins, Bacon but without any imprint, 4 vignettes in ovals within scrollwork at the sides, black printing on card, with counterfoil, has been mounted on the reverse, overall spotting, heavy folds with small hole and splits, about fine but rare. £100

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536 Duval Restaurants for London Ltd., a specimen bearer warrant for £10 shares, London 189-, from the Bradbury, Wilkinson & Co. archives, very attractive piece with allegorical females flanking company logo, black with pale orange underprint, text in English and French, with coupons, centre fold otherwise extremely fine.

534 Butlin’s Limited, a pair of specimen ordinary stock certificates, 19- (circa 1930), from the Bradbury, Wilkinson & Co. archive, the first with capital £600,000, brown, the second with capital £982,000, blue, both with ornate borders, the first with red circular Bradbury specimen seal, the second overprinted SPECIMEn in centre, both with counterfoils, extremely fine. (2)

£60 Founded in the mid 19th century in Paris by Alexander Duval. This company acquired the rights for the UK in 1893 but was in financial difficuly and wound up by 1897.

£60

535 Dumfries and Maxwelltown Astronomical Society, certificate for 1 share, 1835, no.127, of only 150 issued, black, with rules printed below, with related printed receipt, split at fold otherwise very fine and rare. £100

537 European Sims-Edison Electrical Torpoedo Co. Ltd., pair of certificates for £1 founders’ shares, no.62, and £20 ordinary shares, no.244, both 189[2] and issued to the same shareholder, red and blue respectively, spike holes at top left, about very fine. (2) £100

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Bonds and Share Certificates of the World 538 Fortis Powder & Explosives Co. Ltd., a group of bearer share warrants for one share (65), 5 shares (6) and 20 shares (1), all 18[92], ornate borders, black with pale blue, yellow and pink underprints respectively, text in English and French, with coupons, some with damage at edges but many very fine and extremely fine. (72) £200 539 General Printing & Publishing Co. Ltd., a group of 15 certificates for £1 vendor’s shares, 187[3], numbered 69 to 80 and 197 to 199, all issued to the same shareholder in Sheffield, scrollwork at left, black on off white paper, good very fine to extremely fine. (15) £100 540 Guns and gunpowder: United Small Arms, Ltd., £1 preference shares, 19[18], scrollwork at left, green, about very fine; Stowmarket Explosives Co. Ltd., £10 shares, 188[1], black, good very fine, and Patent Gunpowder Co. Ltd., £5 shares, 187[3], scrollwork at left, blue, very fine. (3) £100

541 Leamington Bank, 5 shares of £20, 183[5], no.167, LB monogram in wreath at top left, black on thick buff paper, slightly grubby surface otherwise good very fine. £150 542 Metropolitan Association for Improving the Dwellings of the Industrious Classes, £25 share, 18[50], no.1895, black on grey paper, together with a copy of the Charter of Incorporation, 46 page booklet, 1884, good very fine and scarce. (2)

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£60

544 Norton Ventilator Co. Ltd., £10 shares, fully paid, 18[80], no.42, very large vignette of steamship in harbour with factory and town in background, black, printed by Waterlow & Sons, about very fine. £60

£50

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543 Morecambe Winter Gardens Co. Ltd., a pair of certificates for £1 ordinary shares, no.118, and £10 preference shares, no.253, both 189[7], vignette of the Winter Gardens and seafront at top left, inside of the theatre at top right, black with blue and pink underprints respectively, extremely fine. (2)

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May 20, 2011 - London 545 Otis Steel Co. Ltd., 5% debenture for £10,000, [1896], no.5, and 5% debenture for £10,000, 1896, no.30, of only 5 and 31 issued respectively, very large format pieces, red and green, the first ink cancelled, the second uncancelled, rare high denomination pieces, very fine or better. (2) £100

546 Parsons’ Foreign Patents Company Limited, a specimen bearer warrant for 50 ordinary shares of £1, 19- (circa 1905), from the Bradbury, Wilkinson & Co. archive, vignette of steamship at top, marine turbine at bottom, brown and black, with coupons, top edge somewhat thinned where removed from backing, otherwise about extremely fine. £60

547 Parsons’ Foreign Patents Company Limited, a specimen bearer warrant for 10 ordinary shares of £1, 19- (circa 1905), from the Bradbury, Wilkinson & Co. archive, vignette of steamship at top, marine turbine at bottom, blue-grey and black, with coupons, top edge with some slight damage where the piece has been roughly removed from backing, otherwise good very fine. £60

548 Parsons’ Foreign Patents Company Limited, bearer warrant for 10 ordinary shares of £1, 19- (circa 1905), a specimen certificate from the Bradbury, Wilkinson & Co. archive, vignette of steamship at top, turbine at bottom, blue-grey and black, with coupons, top edge with some slight damage where the piece has been roughly removed from backing, otherwise good very fine.

£80

£60

549 Photochromoscope Syndicate Ltd., a set of three 6% debentures for £5, 189[9], £20, 189[7] and £50, 189[7], ornate borders, blue, green and red respectively, good very fine. (3) £60 The Photochromoscope camera for colour photography was invented in America in the 1880’s but the name (or Kromoscope) was used for a novelty device for viewing stereo cards in full colour. We presume this company was organised for marketing in this country.

550 Photomaton Parent Corporation Ltd., a set of 4 bearer warrants for 10, 25, 50 and 100 shares of 5 shillings, 19[28] or [29], ornate borders, black, blue, brown and mauve respectively, text in English and French, with coupons, the first extremely fine, the second with small tear at right edge, the last with edge tear at bottom left otherwise very fine. (4) The company was set up by Clarence Hatry in 1928 to operate photograph machines in hundreds of public places such as railway station platforms, etc. Numerous foreign offshoots were also organised and the company looked very successful. Problems started in 1929 with Hatry’s manipulation of share prices and some fraudulent issuing of municipal stocks by one of his companies. The events of 1929 caught up with Hatry despite his propping up of prices with his own funds.

Hatry actually acquired nearly three quarters of the issued photomaton stock but by 1929 money had run out and the Hatry group collapsed owing about £14 million.

Hatry himself was tried for fraud and sentenced to 14 years in prison.

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554 Royal Panopticon of Science and Art, certificate for one share, 185[1], no.3689, very ornate border with small vignettes of allegorical figures, names of famous scientists in medallions such as newton, Watt, Faraday and Davy, black, mauve embossed seal, fine to very fine. £120 551 Radiotint Ltd., bearer warrant for 5 shares of £1, London 189[7], no.A9, bellows camera in centre with ‘Application des Couleurs a la Photographie’ below, ornate border, text in English and French, printed by Waterlow & Sons, with coupons, split at centre fold but good very fine and scarce. £80

555 Shops and shopping: a group of certificates comprising herbert’s Supply Stores Ltd., £5 shares, 18[99]; Birmingham household Supply Association Ltd., £1 shares, 19[22]; D.h.Evans and Co. Ltd., £1 ordinary shares, 19[07] (2 examples) and 19[19], increased capital, all printed by Waterlow & Sons; Gamages (West End) Ltd., £1 ordinary shares, 19[29] (2 examples); Gordon Selfridge Trust Ltd., £1 ordinary shares, 19[26], and 2 different Montague Burton Ltd., certificates dated 1957 and 1969, mixed condition, fine to very fine. (10) £60

552 Royal Agricultural College, Cirencester, one £30 share, 18[46], no. 441, black, large pink seal, very fine. £60 553 Royal Agricultural College, Cirencester, one £30 share, 18[46], no. 443, black, large pink seal, very fine. £60

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557 Stanley Gibbons Limited, 6% debenture for £500, 18[90], no.44 (of only 50 issued), signed by Edward Stanley Gibbons and Charles J. Phillips as directors, large format, black, 4 pages, good very fine and rare.

556 Somerset Hotel Co. Ltd., £100 debenture, 18[90], no.24, of only 60 issued, vignette of Grand Atlantic hotel, Weston Super-Mare at top, black; together with Metcalfe’s hydropathic Establishment hastings Ltd., £5 share, 1890, and, Wirral hotels Ltd., cumulative preference shares, 192[30], cancelled, very fine. (3)

£200 £60

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558 Theatre Royal, Drury Lane, a large indenture, 1793, certifying the subscription of henry Evans of hatton Garden to share no.137 in the theatre, signed by Albany Wallis, Richard Ford and Thomas Hammersley as trustees, large folio document, on vellum, large vignette, 5” x 14” of the new theatre at the top, a very fine and unusually clean copy. £2,800 This theatre was rebuilt on a large scale by Irish playright and poet, Richard Brinsley Sheridan in 1793 and opened in 1794.

The finances were divided into 300 shares. It was burnt down in 1809 and was such a huge loss to Sheridan that the Commons adjourned as a mark of sympathy. www.spink.com

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ARGENTINA

LATIN AMERICA 559 A very useful collection of Latin American railway and tramway bonds and share certificates (15), including Panama Rail Road Co., $100 shares, 185[72], impressed duty stamp, cancelled; Peru, national Pisco to Yca Railway Co., £20 bond, 1869, steam engine and coat of arms in centre; Chilian northern Railway Company Ltd., £20 debenture, 1914, steam engine and tender at top, rare piece with all coupons and no cancellation marks; national Railroad Company of Mexico, 1st consolidated mortgage gold bond, $1000, 1902; South Brazilian Railways Co. Ltd., £20 bond, 1911, cancelled; Pernambuco Tramways & Power Co. Ltd., £1 shares, 19[17]; Colombian Central Railway Co. Ltd., £20 debenture, 19[09], cancelled, and others (8), from Brazil, Mexico, Costa Rica and Venezuela, generally very fine and some better. (15) £200 560 A small group of certificates from Latin America, comprising Cuba Railroad Co., 19[35]; Cie du Chemin de Fer & de Travaux Publics de Guayaquil, 6% bond, 1889; Canal Interocéanique de Panama, 4% bond, 1884; Cauca Gold Estates Ltd., pair of certificates for ordinary and preference shares of £1, 18[95] and 18[96]; Soc. de Exploracion de las Minas de Venezuela, founders share, 1888; CallaoMonserratte Gold Mining Co. Ltd., 1887; Peruvian exploration Syndicate Ltd., £100 shares, 18[90]; Mexico north Western Railway Co., [1910]; Soc. Franco-Péruvienne, 185[3], edge tears, and others (5), mixed condition, fine to very fine, a few better. (15) £100

561 1887 5% Interior Loan, 100 pesos gold bond, no.4411, ornate design printed in blue and brown, Spanish text with German text on the reverse, with coupons, heavy centre fold but about very fine and rare. £80 Known as the ‘German’ loan, this was guaranteed by the Banco Nacional which suspended payment in 1891. In 1899, holders were given Argentine Government 4% bonds in exchange for coupons and the loan was finally repaid in 1931.

562 Banco Hipotecario de la Provincia de Buenos Aires, cedula, series L, 100 pesos, La Plata 18[88], no.6734, vignette of gentleman at centre, brown and black, with coupons, very fine. £50 Page 107

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566 Compañia Anónima de Navegacion á Vapor del Rio Bermejo, 100 peso share, Buenos Aires 187[2], no.323, attractive piece with vignette of paddle steamer at top, brown, good very fine and rare.

563 Banco Nacional, a set of specimen certificates for 1, 5, 50 and 500 shares of 100 pesos, Buenos Aires 1885, from the Bradbury, Wilkinson & Co. archive, very ornate borders with vignettes of various coats of arms, black with various colour underprints, with coupons, generally extremely fine. (4)

£150

£250 564 Banco Nacional Inmobiliario, 10 shares of 100 pesos, Buenos Aires 18[90], no.2271-2280, allegorical female with steam train and agricultural machinery to left, ornate border, black with green underprint, very fine to extremely fine. £60

567 Compañia Argentina de Seguros Maritimos en Buenos Aires, 1000 peso share, Buenos Aires 18[59], no.364, rare early piece with vignette of paddle steamer at top, black, very fine to extremely fine.

565 Campos Eliseos, 300 pesos share, Buenos Aires 18[89], no. 0105, black and pale pink, maiden with lyre at left, vignette with landscape at centre, stain on lower margin, almost extremely fine.

£600

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570 Dock Sud de la Capital, provisional certificates for 10 shares and 50 shares of 100 pesos, Buenos Aires 1889, large format pieces with allegorical female at left with shipping, lighthouse, map of the docks and various tools and instruments, blue and brown respectively, the second with a small edge tear otherwise good very fine. (2)

568 Compañia de Tramways Eléctricos del Sud (Southern Electric Tramways Co.) Buenos Aires, first mortgage debenture for £100, 192[7], no.523, large format piece with ornate borders, orange and black, printed by Waterlow & Sons, with coupons, extremely fine.

£80

£50

569 Compañia Docks de Tránsito del Puerto de la Plata, 100 shares of 100 pesos, Buenos Aires 1889, no.1388, large format piece with huge panoramic vignette of docks with many steamships, ornate border, blue with pale green underprint, about extremely fine.

571 La Canalizadora del Riachuelo S.A., 100 shares of 100 pesos Buenos Aires 18[89], no.164, large format piece with busy canal scene with factories and smoking chimneys, cherubs below, brown and black, a couple of tone spots, good very fine. £60

£120

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572 La Capital (Extensions) Tramways Co. Ltd., a specimen/proof £100 Car Trust debenture, 1898, from the Bradbury, Wilkinson & Co. archive, electric tramcar at top left, ornate border, blue and black, annotation in right margin approving printing numbers 1 to 200, with coupons, very fine to extremely fine. £60

573 Minas de Misiones S.A., 1000 peso share, Buenos Aires 1879, no.075, allegorical female reclining in centre, black, orange-brown underprint, extremely fine. £60

575 Sociedad Cooperativa Alumbrado á Gas, 50 shares of 100 pesos, Buenos Aires 1889, no.12651-12700, allegorical female holding light with outstretched arm, ornate border and lots of scrollwork, black, pink and blue, a few minor edge nicks and tears, about very fine. £80

574 Nuevos Mataderos Públicos de la Capital, 100 peso share, Buenos Aires 1889, no.0094, very large format piece with vignettes of interior and exterior views of the new slaughterhouse, blue and pink, good very fine. £60

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BRAZIL

576 South American Cattle Farms Ltd., 5% Debenture, 1912, a specimen bond for £20 from the Bradbury, Wilkinson & Co. archive, very attractive piece with vignettes of cattle at top and bottom, brown and black, with coupons, overprinted SPECIMEn over signature areas, nearly extremely fine. £100

578 United States of Brazil, 1893, 5% Guaranteed Loan, for the Western of Minas Railroad Co., a specimen £100 bond from the Bradbury, Wilkinson & Co. archive, large format piece with Brazilian arms at top, green and black, text in English and French, with coupons, annotation in bottom margin to certify that it had been passed by Rothschilds, traces of mounting at right, extremely fine. £100

BOLIVIA

577 Republic of Bolivia, ‘Fondo Publico’, 6% Public Loan, 100 pesos, Sucre 184[4], local printing, black, embossed seal, good very fine and rare. £50 Page 111

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579 United States of Brazil, 1909 5% Loan, bond for 500 francs, no.121725, attractive large format piece with steam trains at top, blue and black, text in French and English, printed by Bradbury, Wilkinson & Co., with coupons, very fine. £50

581 United States of Brazil, 61⁄ 2 % Loan of 1927, a specimen £1000 bond from the Bradbury, Wilkinson & Co. archive, ornate border, arms at top, mauve and black, with coupons, red Bradbury specimen stamp, extremely fine. £100

582 City of Santos, 1910 6% Internal Sterling Loan, a pair of unissued bonds from the reserve stock, £20 and £100, large format pieces with superb panoramic vignette of railway and dockside, red and black and blue and black respectively, text in English and Spanish, printed by Waterlow & Sons, with full coupons, extremely fine. (2) £100

583 City of Santos, 1915, 7% Funding Loan, a set of unissued bonds for £10, £20 and £100 from the reserve stock, large format pieces with ornate borders, text in English and Spanish, brown, green and red respectively, printed by Waterlow & Sons Ltd., with all coupons, extremely fine. (3) £120 580 United States of Brazil, 71⁄ 2 % (Coffee Security) Loan of 1922, a specimen bond for £500 from the Bradbury, Wilkinson & Co. archive, vignette of coffee pickers, brown and black, overprinted SPECIMEn in red across centre, with coupons, tiny tear at left edge, extremely fine. £100 www.spink.com

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May 20, 2011 - London 587 Madeira-Mamoré Railway Company, a set of specimen bonds from the Bradbury, Wilkinson & Co. archive comprising 6% bonds, 1922, £20, red and £100, green, and 51⁄ 2 % bonds, 1922, £20, orange, £100, brown and £500, blue, all with ornate borders, small hole cancels, printers numbers at top margin, with full coupon sheets, the first a little grubby and about very fine, the remainder extremely fine. (5) £150

588 The Mogyana Company, a specimen 5% debenture bond for £100, 1885, from the Bradbury, Wilkinson & Co. archives, large format piece printed in blue and black, text in Portuguese and English, with coupons, extremely fine. £60 Originally incorporated in 1872, built and operated a network of railway lines in São Paulo.

CHILE 584 Bank of the State of San Paulo, 6% Guaranteed Sterling Mortgage Bonds, series A, 1928, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, ornate border, mauve and black, perforated CAnCELLED, printers’ annotation in top margin, extremely fine. £80

585 Bank of the State of San Paulo, 6% Guaranteed Sterling Mortgage Bonds, series C, 1929, a pair of specimen bonds for £100 and £500 from the Bradbury, Wilkinson & Co. archive, ornate borders, red and black, green and black, perforated cancelled and printers’ annotation in top margin, extremely fine.

(2) £150

586 Cia Estrada de Ferro Bahia e Minas, 5% mortgage bond for 500 francs, Rio de Janeiro, 1888, no.19303, small format piece with small vignette of steam train in bottom border, green and black, text in Portuguese and French, with coupons, a few tiny repaired edge tears at top edge, about very fine. £40

589 Chilian Government 5% State Loan of 1911, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, large format piece with condor at top within star, green and black with large coat of arms in underprint, text in English and German, with coupons, about extremely fine. £100

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CUBA

590 Banco Hipotecario de Chile, 6% bond, 500 pesos, Santiago 19- (circa 1910), an attractive specimen certificate from the American Bank note Company archives with vignettes of impressive railway bridges, State building and coat of arms, brown and black, numbered 00000, overprinted SPECIMEn over signature areas, with coupons, tiny hole cancels, good very fine. £50 592 1917, 6% Treasury Loan, a specimen 500 pesos bond from the American Bank note Co. archives, allegorical figures at top, green and black, with coupons, numbered 00000 and stamped SPECIMEn in red, with coupons, extremely fine.

COSTA RICA

£100 593 Ayuntamiento de la Habana (Municipality of Havana), 6% Loan, 1889, bond for 100 pesos, no.67773, large format, vignettes of harbour entrance and fountain, coat of arms at bottom, green and black, light water tide mark at top right, hole cancelled, very fine. £60

591 Republic of Costa Rica, 1911 4% Refunding Loan, bond for £100, no.B3191, large format piece with coat of arms at top, blue and black, text in English, Spanish and French, printed by Waterlow & Sons, with coupons, good very fine and scarce. £120 www.spink.com

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594 Cardenas Sabanilla Petroleum S.A., 100 shares of 1 peso, habana [1918], no.5446, very attractive piece with three vignettes of oil derricks, ornate border, blue and black, good very fine. £50

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597 Empresa del Ferro-Carril Urbano y Omnibus de la Habana, 500 peso share, 18[76], no.0541, horse drawn tramcar in centre, black, ink cancelled and single hole cancel unfortunately through the vignette, counterfoil re-attached, tiny chip from bottom edge, the ink has burned very slightly, very fine. £100

595 Compania del Ferro-Carrill Cienfuegos y VillaClara, 1000 pesos bond, habana 1889, no.145, lovely American style certificate printed by the American Bank note Co. with steam train at bottom and coat of arms at top, green and black, with coupons, punch perforated AMoRTIZADo, Cuban adhesive duty stamps at top, heavyish folds with tiny bit of splitting along, some overall discolouration, about very fine and a rare piece. £100

598 Ferro-Carril de Guantanamo, 100 pesos share, Santiago de Cuba 18[82], vignette of steam train at top, ornate border, black on cream paper, stamped CAnCELADo, 2 endorsements on reverse, good very fine. £50

596 Cuban Telephone Company (DE), a specimen 5% First Mortgage Convertible Bond, £200, 1911, from the Bradbury, Wilkinson & Co. archive, scantily clad female operating early telephone, ornate border, red and black, stamped SPECIMEn at bottom, with coupons, extremely fine. £80 Page 115

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Bonds and Share Certificates of the World 601 Minas de Manganeso de Camaroncito S.A., 100 peso share, Santiago de Cuba 1916, no.2902, vignettes of explosion at entrance to mine tunnel and steamship at dockside, ornate border, brown, pink and black, slight discolouration at top right corner, good very fine. £40

599 La Alianza, Compañia de Credito y Seguros, 500 peso share, havana 1862, no.3350, very attractive piece with 6 vignettes including a paddle steamer, steam train and busy dockside, black, some splitting at edges and along heavy folds, some trimming at right and bottom edges, small piece missing from top right edge, fair but rare. £50 602 Sanitary Dungcart Company, 100 peso share, havana 191[2], no.1067, vignette of horse-drawn coach at top, dung cart at bottom, ornate border, blue and red, red seal, pale blue underprint, good very fine. £80

ECUADOR

603 Banco Internacional de Guayaquil, a beautiful specimen certificate for a 2 sucre share, Guayaquil, 189-, by Waterlow & Sons, vignette of dockside at bottom, coat of arms top, portraits of A.J. de Cucre and J.J.olmedo at either side, black with pale green underprint, SPECIMEn in signature areas and large Waterlow & Sons Limited in underprint, very fine.

600 L’Almendares, 100 francs share, Bruxelles 1899, no.

13, 064, red and pale green, palm trees at left, port scene at low centre, with coupons, extremely fine.

£120 £80

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MEXICO 604 A group of Mexican State and City bonds, comprising Puebla de Zaragoza, 1907, $1000, 1910, $100 and $500; Durango, 1907, $100; Aguascalientes, 1910, $200; oaxaca de Juarez, 1910, $500 and $1000, the last only fine otherwise very fine and better. (7) £80

606 State of Chihuahua, 5% Loan, 1900, in aid of the Compania del Ferrocarril de Chihuahua al Pacific, $1000 silver, no.203, steam train at top, blue and black, with coupons, about extremely fine. £80 607 - another similar, no.270, almost extremely fine. £80

605 State of Aguascalientes, 5% Loan, 1910, bond for 500 pesos, no.6971, only 390 issued, Mexican eagle at top, brown and black, text in Spanish, English and French, with coupons, good very fine. £80

608 State of Chihuahua, Ferrocarril Central Mexicano, Railroad subsidy bond for $1000 silver, 1901, no.2, steam train and sidings at top, text in Spanish and English, green and black, with coupons, very fine. £60 Page 117

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Bonds and Share Certificates of the World 611 State of Jalisco, Ferrocarril Central Mexicano, Railroad subsidy bond for $1000 silver, 1900, no.538, steam train at top, text in Spanish and English, green and black, with coupons, very fine. £50

609 State of Coahuila de Zaragoza, 6% Interior Loan, first issue 1900, bond for $1000 United States gold, no.96, Mexican eagle at top, text in Spanish and English, green and black, with coupons, good very fine and rare. £100

612 State of San Luis Potosi, 6% Loan, 1889, bond for £100, no.0409, Mexican eagle at top, ornate border, black, green underprint, with coupons, cut close at right edge, very fine to extremely fine. £50

610 State of Jalisco, Ferrocarril Central Mexicano, Railroad subsidy bond for $1000 silver, 1900, no.541, steam train at top, text in Spanish and English, green and black, with coupons, very fine. £50 www.spink.com

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May 20, 2011 - London 613 State of Tamaulipas, 5% Loan, 1907, a group of 8 bonds for 500 pesos, dock scene at top, green and black, text in Spanish and English, with coupons, generally very fine or better. (8) £150

614 City of Chihuahua, 5% Loan, 1910, bond for $1000, no.117, 600 issued, Mexican eagle at top, text in Spanish, English and French, green and black, with coupons, good very fine. £50

615 City Council of Cordoba, 6% Loan, 1904, pair of bonds for 500 and 1000 pesos, female artist at bottom, coat of arms at top, green and slate blue respectively, text in Spanish and English, with coupons, good very fine and fine to very fine, the second rare. (2) £100

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619 Ferrocarril de Mexico a Guernavaca y el Pacifico, State of Morelos, 1000 silver peso bond, 1898, no.99, steam trains at top corners, black and red with green underprint, with coupons, split at folds but about very fine and rare. £80 620 Ferrocarriles Nacionales de Mexico (National Railways of Mexico), a group of certificates comprising First Preferred Stock, 10 shares, 1909 (4), 1929 (1), ‘Less than 100 shares’, 1909 (8), Second Preferred, bearer, ‘less than 100 shares’, 1910 (2), Second Preferred, nominative, ‘less than 100 shares’, 1929, 10 shares, 1914-1928 (6), 100 shares, 1930 and 1970, this rare; 2-Year 6% secured gold note, 1913, US$1000 (10) and £100 (7); 6% Gold notes, 1914, series B, $2 (18), and various scrip and arrears certificates (24), mixed condition, fine to very fine, some better. (82)

616 City of H. del Parral, 6% loan, 1906, series A, bond for 1000 pesos, only 300 issued, Father hidalgo at top left, mining scene top right, text in English and Spanish, green and black, with coupons, very fine and rare.

£200 £50

617 City of H. del Parral, 6% loan, 1907, series B, bond for 1000 pesos, only 200 issued, Father hidalgo at top left, mining scene top right, text in English and Spanish, blue and black, with coupons, very fine and rare. £60

618 City of H. del Parral, 6% loan, 1908, series C, bond for 1000 pesos, no.59, only 110 issued, Father hidalgo at top left, mining scene top right, text in English and Spanish, red and black, with coupons, very fine and rare. £80

621 La Compania de Ferrocarriles del Distrito Federal de México, first mortgage bond for $100 silver, 1896, no.6690, large format piece with vignettes of surveyors, cherub holding electric cable, allegorical female and street scene with electric railway, brown and black, impressed duty stamp, no coupons remain, good very fine. £50 www.spink.com

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622 Mexico North Western Railway Co, 5% 50-year first mortgage bond, £100, 1909, no.A25169, steam train at top, ornate border, blue and black, printed by Waterlow & Sons Ltd., with coupons, very fine to extremely fine. £50

625 Tehuantepec Inter-Ocean Railroad Co., a specimen Subsidiary certificate for $1000, preferred and convertible, circa 1882, steam assisted sailing ship at left, steam train at right, green and black, text in English, printed by the American Bank note Co., numbered 0000 and overprinted specimen in red, small hole cancels, very fine. £150

623 National Railroad Company of Mexico, 4% First Consolidated Mortgage gold bonds for US$500 and $1000, 1902, eagle at top left, blue-green and green respectively, with coupons, very fine or better. (2) £50

624 National Railroad Company of Mexico, Prior Lien 41⁄ 2 % Gold Bonds for US$500 and US$1000, 1902, steam train crossing river and man on horseback, brown and mauve, with coupons, the first with some edge splits and an old tape repair, about fine, the second very fine but with a couple of rust marks in centre. (2) £50

626 Vera Cruz and Pacific Railroad Co., First Mortgage Guaranteed Gold Bond, 1904, US$1000, no.4942, Mexican eagle top centre flanked by steam train on left and steamship on right, green and black, with coupons, good very fine. £100 Page 121

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NICARAGUA

629 Cukra River Planting Company Ltd., £4 share, 1914, no. 05, 651, green and yellow, ornate border with banana leaves, vignette with banana harvesting low centre, with coupons, extremely fine. £50

PANAMA 630 Compagnie Universelle du Canal Interocéanique de Panama, 3% loan, 1884, a group of 12 bonds for 500 francs, with facsimile signature of Ferdinand de Lesseps as President, ornate border with allegories of north and South America joining hands across the canal, green, with coupons at bottom and right, two pieces have edge tears otherwise generally very fine and better. (12)

627 Banco Mexicano de Comercio é Industria, 100 peso share, Mexico 1910 over 1909, bank building at top centre, blue and black, text in Spanish English, German and French, printed by the American Bank note Co., with coupons, good very fine; together with other Mexican bank shares comprising Banco de Londres y mexico, 100 peso share, 1905, Father hidalgo at top, green and black with coupons; Banco de Guanajuato, 100 peso share, 1906, and, Banco Central Mexicano $100 shares, 1905 and 1908, generally very fine. (5)

£200

£60 628 Compania Petrolera Mexicana faros de Aztlan S.A., certificates (3) for 20, 50 and 100 shares of 1 peso, 1916, full height statue of Aztec standing on a plinth, slight variations in colour but predominantly blue and brown, imprinted revenue stamps; together with Compania Minera La Paz, one share, 1910, steam train, mine tunnel and allegorical female at top, green and black, with coupons; negociacion Minera el Buen despacho en el oro, $50 shares, 1910 (3 examples); Mexican telephone Company, 188[2] (2 examples and 1899, cancelled; Compania Minera Santa Bernardina y Anexas, provisional certificates for 5 shares, 1907 (2); Boston Mexican petroleum, 100 shares, 1919, interesting vignette of loading rack; negociacion Minera Socavon de San Fernando y Anexas, 1 share, 1919, and other certificates (13), generally very fine to extremely fine. (27) £100

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PARAGUAY

POYAIS

631 Banco de Espana y Paraguay S.A., 1000 peso share, Asuncion 192[2], no.16551, large format piece with an allegorical female wearing a crown with one foot resting on cornucopia, brown and black with yellow underprint, adhesive revenue stamp, extremely fine. £50

632 1823 General Mortgage Loan of £200,000, £100 Special Bond, scrollwork panel at top and at sides, black and blue, with coupons, overall spotting but very fine. £120 Poyais, Honduras, was given to Gregor MacGregor by the native ruler in 1820 and MacGregor proceeded to try to settle the land by financial enticements. Several loans were floated on the Stock Exchange to raise money for ships and infrastructure but all eventually failed.

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Bonds and Share Certificates of the World 633 Poyaisian 3% Consolidated Stock, £500 bond, 1827, no.552, signed by Gregor MacGregor, coat of arms at top, pink and black, with coupons, some splitting along folds, fine to about very fine. £60

PERU 634 Banco del Peru y Londres S.A., a group of certificates for one share of P£10, Lima 1907, ornate border, text in Spanish, English and French, red and black, grey underprint, with coupons, mixed condition but many very fine and better. (35) £100

URUGUAY

636 Banco Trasatlántico del Uruguay, 100 peso share, series A, Montevido 1889, no.2031, dark blue-green with yellow underprint, adhesive revenue stamp, very fine. £50 637 Campomar & Soulas Industrias Unidas de Hilados y Tejidos de Lana, a specimen 50 peso share, Montevideo [1949], from the Bradbury, Wilkinson & Co. archive, vignette of spinning/weaving machine flanked by further vignettes of factories, blue with yellow underprint, numbered 00000 in red and perforated SPECIMEn, near extremely fine.

635 Banco Constructor Oriental, 10 shares of 100 pesos, series A, Montevideo 188[8], no.2619, ornate border, brown with heavy blue-green underprint, adhesive revenue stamp, good very fine.

£60

£50 638 City of Monte Video Public Works Corporation Ltd., a group of special debentures for £20, 1909 (8), large format pieces with ornate border, black with blue underprint, printed by Bradbury, Wilkinson & Co., with coupons, a couple with crinkled edges otherwise about extremely fine. (8)

£100

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639 Compañia de Navegacion a Vapor Porvenir del Rosario, an unissued or probably proof certificate for 125 pesos, Montevideo 186-, large format piece with vignettes around borders of steamship and allegorical females, black on plain cream paper, centre fold, few tears at edges, about very fine and rare. £80 640 Jockey Club, Montevideo, 51⁄ 2 % bond for 100 pesos, 1945, no.5473, stylised horses at starting gate, ornate border, red and black, adhesive duty stamp, with coupons, good very fine. £50

642 S.A. La Agricola-Industrial, 100 peso share, Montevideo 189[1], no.0015, ornate border, allegorical figures at top, black, green and pink underprint, adhesive revenue stamp, a couple of tiny nicks at right edge, good very fine; together with Cie. Francaise des Mines d’or de L’Uruguay, a group of 3 certificates comprising 500 franc preference share, Paris 1881; founders’ share, Paris 1895, and 100 franc share, Paris 189[9], all with ornate borders, mine buildings at bottom, coat of arms at top, black and buff, brown and green, and red with pale blue underprint, with coupons, the first with small edge tear otherwise about very fine to good very fine. (4) £80

641 Rambla Company of Monte Video Ltd., 5 certificates, each for 20 preference shares of £1, [1911], ornate border, blue, yellow underprint, text in English and French, with coupons; together with Monte Video Telephone Co. Ltd., £5 preference shares, 188[91], black, cancelled, extremely fine and very fine. (6) £50

643 Tram-Via del Este, 5% mortgage bond for $100, Montevideo 1885, no.225, of only 800 issued, vignette of tramcar, black with yellow underprint, Uruguayan adhesive duty stamp, stamped InUTILIZADo across face, good very fine. £50

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VENEZUELA

645 Carenero Railway and Navigation Co. Ltd., first mortgage debenture for £20, 1889, no.7394, large format piece with small vignettes of steam train crossing bridge and sail assisted steamship at sea, ornate border with coats of arms in corners, red, with coupons, good very fine and rare.

644 United States of Venezuela, 3% Consolidated Internal Debt, bond for 10,000 bolivares, series 4, Caracas 19- (circa 1915), a specimen from the American Bank note Company archive, coat of arms at top, ornate border, yellow and black, numbered 00000, SPECIMEn overprinted over signature areas, with coupons, good very fine.

£60

£60

646 Orinoco Steam Navigation Company of New York, $1000 share, 1848, no.52, guaranteed by the Republic of Venezuela, issued to and signed by Vespasian Ellis as President, paddle steamer with loaded wagon on riverbank, allegorical females in bottom corners, black, ink cancelled, small split at folds, fine to very fine. £100

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RUSSIA

x650 1914 5% Internal Loan, a specimen bond for 100 roubles, blue and yellow, numbered 000000, overprinted ОБРАЗЕЦЪ in red, with coupons, some edge splits fine to very fine; together with other Russian bonds (4), poor to very fine. (5)

State Loans 647 A collection/accumulation of Russian bonds and shares (60), including City of odessa, 1893, 1000 roubles; City of Moscow, 1912, £500 and £1000, this poor condition with pieces missing at right; Armavir Touapse Railway Co., 1909, £500; Chemins de Fer du Sud-Est, 125 rouble share, 1893; Wolmar railway, 1910, £20; Societe du Credit Foncier Mutuel de Russie, 100 rouble bonds, 11 th series, 1875 and 12th series 1876 and Trading Company Muir & Mirrielees Ltd., 1000 rouble share, 1908, mixed condition fine to very fine. (60)

£100

£350 648 1817/1818 6% State Loan, Dutch certificates issued in exchange for Russian certificates by Banking Syndicate headed by Van Vloten & de Gyselaar, 1000 roubles, 1824 and 1825 (2), black on thick paper, the first with some toning and damage at right edge, fair, the others fine to very fine. (3) £100

651 Russian Imperial Government, a very rare nominative certificate issued by ‘La Commission Imperiale d’Amortissement’, St.Petersburg 1[916], no.1642, ornate border, black, with coupons, two heavy folds, fine to very and the first time seen by the cataloguer. £300 Most bearer bonds were exchangeable for these nominative certificates at the request of the holder but not many were taken up. The details of the bonds exchanged were inserted by hand but coupons were still used to claim interest on the bonds.

652 1917 5% Freedom ‘Kerensky’ Loan, a group of 85 bonds for 500 roubles, State Duma at top, blue and black, with coupons, generally very fine to extremely fine. (85) £140

649 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, handsigned by Nathan Meyer Rothschild, double headed eagle at top, black, on poor quality paper, with talon, tiny chip from top edge otherwise very fine and much better than usual condition. £120 Page 127

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City Loans 653 City of Koursk, 1899 41⁄ 2 % Loan, bond for 100 roubles, no.1013, coat of arms at top, brown and black, with coupons, good very fine. £80 654 City of Moscow, 41⁄ 2 % Loan, 1912, bond for £1000, no.238, large format, red and black, with coupons, tiny nick at bottom right edge otherwise about extremely fine and scarce thus. £200 655 City of Moscow, 41⁄ 2 % Loan, 1912, bond for £500, no.1042, large format, mauve and black, with coupons, almost extremely fine and better condition than usual. £80

658 City of Nikolaef, 5% Loan, 1912, second issue, bond for £500, no.0262 (the first number of the series), ornate border, red and black, with coupons, repaired tears at right edge but no paper loss, fine to very fine and very rare, only 14 issued. £1,000

659 City of St. Petersburg, 41⁄ 2 % Loan, 1913, a group of scrip certificates for £20 bonds, blue (15), and £100 bonds, red (2), generally fine to very fine, some better. £100

656 City of Nikolaef, 5% Loan, 1912, bond for £500, no.0050, of only 261 issued, red and black, with coupons, good very fine. £180 657 City of Nikolaef, 5% Loan, 1912, bond for £100, second issue, no.3947, of only 265 issued, ornate border, blue and black, with coupons, about extremely fine. £80

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Railways

663 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no.C28756, only 300 issued, ornate border, red and black, with coupons, extremely fine. £150

660 Armavir-Touapse Railway Company, 41⁄ 2 % Loan, 1909, bond for £500, no.C00957, red and black, with coupons, extremely fine and scarce thus. £100

661 Armavir-Touapse Railway Company, 41⁄ 2 % Loan, 1909, bond for £500, no.C01088, ornate border, red and black, with coupons, good very fine. £100

662 Baltic Railway Company, certificate for 1 dividend share, 1872, small vignette of steam train in central medallion, brown and black, text in Russian and German, with coupons, top left corner missing just touching the design, good fine. £120

664 Kokand Namangan Railway Company, 41⁄ 2 % Loan, 1910, bond for £500, no.C8527, ornate border, red and black, with coupons, damaged at right with considerable paper loss, poor but very rare, only 80 issued. £80 Page 129

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667 Riasan-Koslow Railway Company, £100 share, Moscow 1865, no. 7354, issued circa 1886, ornate border, mauve, brown and black, with coupons, almost extremely fine and rare.

665 Moscow-Smolensk Railway, 5% Loan, 1869, bond for 1000 taler, no.2323, underprint vignette of steam engine and tender, pink and black, with coupons, only 2,400 issued, almost extremely fine and scarce.

£200 £40

668 Transalaska-Siberian Railway Co., provisional certificate for $100 bond, new York 1909, no.1288, ornate border, black and green, text in French and English, with coupons, about very fine. £100

666 Moscow-Windau-Rybinsk Railway Co., 4% Loan, 1899, bond for £500, no.871, ornate border, red and black, with coupons, fine to very fine. £100

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Commercial and Industrial 669 Commercial Bank of Siberia, a group of certificates (10) comprising 1905 issue, 1 share (3), 2 dated 1904 on reverse and one dated 1912; 1907 issue, 2 shares (2), 5 shares; 1909 issue, 3 shares; 1912 issue, 1 share, 2 shares and 10 shares, some with coupons, mixed condition but generally fine to very fine. (10) £100 670 Soc. Cotonnière Russo-Française, pair of certificates for 500 franc share, Paris 1900, no.12586, and 5% bond for 500 francs, Paris 190[13], no.10938, both of the same design of a large factory with female workers at spinning wheel and loom at each side, blue and green respectively, with coupons, the first with a rust mark along fold at right and the second with a small spike hole otherwise very fine and attractive. (2) £50

672 Soc. Gen. de Hauts Fourneaux Forges & Aciéries en Russie, 41⁄ 2 % bond, 500 francs, Paris 1900, lovely piece with vignettes around border of steam engine, steamboat, ironworks, smelters and stamps, green, yellow underprint, with coupons; other French and Belgian companies operating in Russia, including Soc. Metallurgique de L’oural-Volga, 100 franc share, 1899; Charbonnages de Pobedenko, founders share and 100 franc share, both 1900, and others (10), generally very fine and better. (14) £80 673 Hollandsche Maatschappij tot Zout-Exploitatie in Rusland, 500 silver rouble share, Den haag 1910, no.190, ornate border, black and brown, with coupons, good very fine. £50

671 Société d’Éclairage de la Capitale, a group of nominative share certificates (36) for 100 silver roubles each, 1864, issued to either John Blythe Robinson Esq., solicitor in Beverley, Yorkshire or John Anthony hudson, also of the same town, ornate border, red and black, many with coupons, most have water damage to the very top edge otherwise unfolded and very fine to extremely fine. (36)

674 La Habanera, Societe Anonyme Belge pour L’Industrie des Tabacs en Russie, 250 franc share, Bruxelles 1900, no.4792, unusual design with coats of arms and numerous cigars around border, brown and blue, with coupons, good very fine. £50 £300

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UNITED STATES OF AMERICA

675 La Habanera, Societe Anonyme Belge pour L’Industrie des Tabacs en Russie, ordinary share of no par value, Bruxelles 1900, no.3195, unusual design with coats of arms and numerous cigars around border, black and blue, with coupons, top edge a little uneven otherwise very fine. £50

678 A collection of American certificates (76) including Terminal City Co. Ltd., $10 shares, 18[91], steamship and steam train, uncancelled; Lehigh Coal and navigation Co., $50 shares, 18[66]; Marine and River Phosphate Company (SC), $10 shares, 188[3], sailing ship in centre; kentucky Union Land Company, 18[91]; South Gila Canal Co., 1st mortgage 5% gold bond, 1892; Atlantic Dock Company, Brooklyn 18[1910], attractive vignette of the large docks; Crystal Water Company, 6% 1st Mortgage Gold Bond, $1000, 1890; Metropolitan Associates of new York, 6% 20-year bond, 1907, $1000, steamship on river with bridge in background, and, Fidelity Loan and Trust Co., 18[89], some modern, a little duplication, several cancelled, generally very fine or thereabouts.

(76) £200

State Loans

679 State of Alabama, 8% gold bond, 1870, $1000, in aid of the Alabama & Chattanooga Rail Road Company, handsigned by the Governor, large format with allegorical female at top, green and black, red seal, with coupons, creased, fine to very fine and scarce.

676 St. Petersburg Land and Mortgage Company Ltd., 5% debenture for £20, 1912, facsimile signature of Evelyn hubbard, lovely city view at top, ornate border, red and black, with coupons, printed by Waterlow & Sons, good very fine.

£120 £50

A British Company, registered 1911, struck off Register 1949. Evelyn Hubbard was an active merchant in Russia from 1875 and a Director of the Bank of England from 1890.

677 St. Petersburg Land and Mortgage Co. Ltd., £100 debenture, 19[12], numbers B2072 and B2073, vey attractive pieces with bird’s eye view of city at top, ornate border, blue and black, printed by Waterlow & Sons, with coupons, both extremely fine. (2) £100

680 State of Arkansas, 7% Levee Bond, $500, 187[1], no.1520, paddle steamers and other craft plying the river, allegorical females in bottom corners, black, red underprint, with coupons, good very fine. £60

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May 20, 2011 - London 681 State of Arkansas, 7% Levee Bond, $500, 187[1], no.2350, paddle steamers and other craft plying the river, allegorical females in bottom corners, black, red underprint, with coupons, good very fine. £50

682 Territory of Florida, 6% loan, [1838], $1000, in favour of the Union Bank of Florida, no.B 1628, attractive piece with early steam train with shipping and dockside in background, farmers in bottom corners, black, with coupon sheet for payment of interest in London, good very fine and scarce. £350

684 Territory of Florida, Bank of Pensacola, 6% bond for $1000, 1835, no.B93, black, pink paper seal, with coupon sheet and another sheet for payment of coupons in London, some foxing, about very fine. £200

683 Territory of Florida, 6% loan, [1838], $1000, in favour of the Union Bank of Florida, no.D 2624, attractive piece with early steam train with shipping and dockside in background, farmers in bottom corners, black, with coupon sheet for payment of interest in London, good very fine and scarce. £350

685 State of Georgia, Act of october 17th 1870, 7% gold bond for $1000, no.6, signed by the Governor of Georgia and the Secretary of State, attractive piece with vignettes of the Georgia arch of Constitution, allegorical females, sailors and men loading wagon, green and black, with coupons, very fine and scarce. £150

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Confederate Bonds 688 A group of 4 Confederate bonds, comprising Act of August 19th 1861, $50 bond redeemable July 1881, with coupons, edges a little creased; Act of February 20th 1863, bonds for $100, $500, and $1000, ‘Stonewall’ Jackson in centre, the last discoloured along folds, fine, the remainder very fine. (4) £120

686 State of Louisiana, 5% bond for the Charity hospital of new orleans, 1832, $1000, no.17, signed by the Governor of Louisiana, Andre B. Roman, scrollwork at left and right, black, with attached certificate of the Charity hospital allowing interest to be paid without presentation of any transfer certificate, embossed cancelled, no coupons remain; together with other Louisiana certificates (5) and 5 sheets of 4 x Baby bonds, folds but fine to very fine and rare. (11) £250 687 New York Canal Department, Enlargement loan (for the enlargement of the Erie, oswego, Cayuga and Seneca canals), 1855, certificate for ($2500), 18[67], canal lockgates at right, three portraits including George Washington, arms at top, black; 6% sinking fund loan, 1857, certificate for [$1000], 18[65], lockgates at left, arms top, black; ohio Canal Stock, Loan of 1842, certificate for [$1000], 18[49], canal with millhouse and steam train at top, black, all hole or cut cancelled, fine to very fine. (3) £120

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689 Act of January 29th 1863, 7% Cotton Loan, bond for £200, no.1164, allegorical female with flag and bales, text in English and French, black, grey-brown underprint to coupons (Ball 157), good very fine. £250

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Railroads 690 A collection of American Railroad certificates, (47), 1860’s to 1950’s, a few unissued, including Chicago, Brazil and ohio River Railroad & Coal Co., first mortgage bond, 1881, $100/£20; Atlantic and Pacific Railroad Co., Western Division, Income mortgage bond, $1000, 1880; new York & oswego Midland Rail Road, $500, 1868, issued by the Town of Volney; Central Transportation Company, $50 shares, 18[75]; Wagner Palace Car Co., $100 shares, 189[3]; Pittsburgh, Fort Wayne and Chicago Railway Co., guaranteed stock scrip, 18[69]; Buffalo, Rochester and Pittsburgh Railroad Co., $100 common stock, 188[6]; Chicago, Rock Island & Pacific Railway Co., $100 shares, 19[02] and Flint and Pere Marquette Railroad Co., $100 shares, 188[8], mostly very fine, a few better. (47) £200

691 Beech Creek, Clearfield and South Western Rail Road Co., partly issued certificate for $50 shares, 18(circa 1880), no.A34, signed by Cornelius Vanderbilt Jr. as treasurer, steam train at top, brown and black, stamped and hole cancelled with several small holes in the upper part of the signature, good very fine.

694 Indiana Harbor Belt Railroad Co., registered 50year general mortgage bond, $5000, 19[12], no.C121, issued to Alfred G. Vanderbilt and signed by W.K. Vanderbilt as vice president of the Michigan Central Railroad Co. on the reverse, steam train at top, orange and black, ABnCo., counterfoil reglued at left, neatly hole cancelled with only one small hole at the beginning of the signature, good very fine. £60

£50

692 Cleveland, Cincinnati, Chicago and St. Louis Railway Co. (OH & IN), registered first collateral trust mortgage 4% gold bond, $10,000, [1917], no.C316, signed by W.K. Vanderbilt Jr. as vice president, steam train at station, stoker at right, brown and black, counterfoil reglued at left, hole and stamped cancelled with 4 holes over the signature, good very fine. £50

693 Henderson & Nashville Rail Road Company (KY), 7% bond for $1000, 1854, no.669, steam train in centre, portraits in bottom corners and allegorical figures at either side, black, with coupons, splits and separations at folds, grubby surface, only fair but unrecorded by Cox. £100

695 Lake Shore and Michigan Southern Railway Company, a specimen 25-year 4% Gold Bond, $1000, 1903, from the American Bank note Co. archives, vignette of river scene with steam train in background, ornate border, olive-green and black, with coupons, numbered 00000, stamped SPECIMEn and hole cancelled in signature area, near extremely fine. £60 Page 135

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Bonds and Share Certificates of the World 696 Lake Shore and Michigan Southern Railway Company, a specimen 25-year 4% Gold Bond, $5000, 1903, from the American Bank note Co. archives, vignette of river scene with steam train in background, ornate border, brown and black, with coupons, numbered 00000, stamped SPECIMEn and hole cancelled in signature area, about extremely fine. £80

698 Michigan Central Rail Road Co., 5% registered bond for $5000, secured on the Detroit an Bay City Rail Road, 188[1], no.60, issued to William H. Vanderbilt and signed by Cornelius Vanderbilt as (vice) president, steam train flanked by allegorical female and shepherd, brown and black, hole and stamped cancelled, two small holes touch the signature, very fine. £60 699 Michigan Central Rail Road Co., 5% registered bond for $5000, secured on the Detroit an Bay City Rail Road, 188[5], no.949, issued to William K. Vanderbilt and signed by him on the reverse, steam train flanked by allegorical female and shepherd, brown and black, counterfoil reglued at left, hole and stamped cancelled, two small holes touch the end of the signature, very fine. £60

697 Marietta and North Georgia Railway Co., 6% first mortgage consolidated gold bond, $1000, 1887, no.876, steam train pulling into crowded station, brown and black, printed by homer Lee, with coupons, not cancelled, good very fine. £50

700 New York & Harlem Rail Road Co., $50 shares, 187[2], no.14474, signed by W.H. Vanderbilt as president, steam train passing under bridge, allegorical figures and dogs head at left, black, impressed duty stamp Rn-T4 in centre, stamped and hole cancelled, very fine. £120

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May 20, 2011 - London 701 New York & Harlem Rail Road Co., $50 shares, 187[3], no.16176, signed by W.H. Vanderbilt as president, steam train passing under bridge, allegorical figures and dogs head at left, black, impressed duty stamp Rn-U1 in centre, stamped and hole cancelled, very fine.

Shipping and Shipbuilding

£120 702 Pine Creek Railway Co. (PA), registered first mortgage 6% bond, 18[85], $1000, no.301, signed

by W.H. Vanderbilt and Chauncey Depew as trustees, farmer at top left, ‘Justice’ at right, brown and black, hole cancelled, good very fine. £50 703 Spuyten Duyvil and Port Morris Rail Road Co. (NY), scrip certificate for 10% payment on one share, 18[69], no.1, in the name of John Audubon and signed by Cornelius Vanderbilt as treasurer both on back and front, black, adhesive duty stamp, ink cancelled through signature on front but reverse is very clear, chip out of bottom edge, very fine. £100 704 Utica and Mohawk Valley Railway Company (NY), less than 100 preferred shares of $100, 19[07], no.A36, signed by W.K. Vanderbilt as [vice] President, trolley car and wagon and horses at top, green and black, counterfoil reglued at left, hole cancelled, good very fine. £50

705 War of 1812: a very interesting certificate for quarter share in the prize money made by the Privateer ‘Prince of Neufchatel’, during its present ‘cruise’, Boston 1814, fully printed piece with name of holder inserted by hand, signed by the ship’s commander nicholas Millin, together with a printed transfer document assigning the share to another officer, also 1814, the two attached by wax at top edge, about very fine and fine. (2) £400 The Prince of Neufchatel was a brig, built in 1813 and soon after being armed and licensed as a privateer. She had a good but short career causing great aggravation to the British Navy before being captured by HMS Leander in December 1814.

706 Importing and Exporting Company of South Carolina, $1000 shares, Charleston 186[3], no.79, small format piece, black, embossed seal, overall discolouration, split along fold, fine but rare. £200 A well known blockade runner during the Civil War.

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Bonds and Share Certificates of the World 707 International Mercantile Marine Co., a group of certificates comprising 10 preferred shares (8), slate, 100 preferred shares (21), green, ‘less than 100 preferred shares (15), mauve, 10 shares of no par value (2), brown, and, 100 shares of no par value (3), orange, date range 1920’s and 30’s, all with vignette of 4 funnel steamship at top, all cancelled, generally very fine. (49) £150 A company best known for it’s ownership of the Titanic.

710 New York & Havre Steam Ship Co., $100 shares, 18[66], lovely vignette of paddle steamer, black, adhesive revenue stamp, stuck down along top edge but should be easily removable; together with other certificates related in ships and shipping (26) including old Colony Steamboat, $1000 bond, 1893; American hawaiian Steam Ship Co., partially issued share certificate, 1[906]; Submarine Signal Co.. less than 100 shares (3), 1921, 1939 and 1941, 100 shares, unissued (2); Boston & Philadelphia Steamship Co., unissued, 189-; Detroit and Cleveland navigation Co., 100 shares, 1938; Standard Cordage Company, less than 100 shares, 1906 (3), $100 bond (1) and $1000 bonds (4), and, other companies (9), all with vignettes, mostly cancelled, mixed condition but generally very fine. (27)

708 Merchants Steamship Company of Bristol, Rhode Island, $100 shares, 18[65], no.83, single funnel steamer at bottom, allegorical female with ship and anchor at top, black, adhesive duty stamp to left, very fine.

£150

£80

709 Natchez Steam Boat Company, certificate no. 14 for 20 shares of $50, natchez 181[8], small vignette of paddle steamer at top, black, together with a cheque of the company dated 181[21], also with the same vignette, the first has piece missing from the bottom right corner not affecting the text, fine and about very fine.

(2) £200

711 New York Dock Company, first mortgage 4% gold bond, 1901, $500, no.14250, lovely vignette of ship being unloaded at dockside, steamship making way at bottom, green and black, with coupons, good very fine. £80 www.spink.com

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May 20, 2011 - London

Mining and Oil

712 American Illuminating Oil Company (NY), $10 shares, 18[65], no.155, vignette of oil wells and storage tanks, black, adhesive duty stamps, fine to very fine. £120

715 Cripple Creek (Bull Hill) Finance & Development Co. Ltd., 10 shilling shares, 1900 over 189-, no.43, ornate border, green, very fine. £80

713 Bertha and Edith Gold Mining Company (NY), $10 shares, 18[78], miners at work sluicing for gold, black, Mine in Goochland County, Virginia, and taken over by the Tagus Mining and Milling Company in 1882; together with other mining certificates including Quincy Mining Company, 18[58]; Mary Murphy Gold Mining Co., 19[09], miners at work underground (3 examples); new Utah Bingham Mining Co., $2.50 shares, 19[12] (4 examples); Butler Iron Co., 19[18]; La Rose Mines Ltd., ontario, 1922; Calumet and Arizona Mining Co., 1922; Comstock Tunnel & Drainage Co., $500 bond, 1919; Central Fuel oil Co., 1911, and north Butte Mining Co., 1905, fine to very fine, some better. (15)

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

£100

714 Corona Queen Mining Company (NM), a group of 88 certificates for $5 shares, 19[08], allegorical female at top left, green and black with gold seal, a handful have condition problems otherwise very fine to extremely fine. (88) £250 The mine was in Lincoln County, New Mexico, about 100 miles from Albuquerque.

716 Dayton Coal & Iron Company Ltd., a group of 50 certificates for £100 shares, fully paid, 18[84], in the name of either Titus Salt, Edward Salt or Charles Stead, all of the famous spinning and manufacturing firm based at Saltaire, near Bradford, Yorkshire, scrollwork at left, black on grey paper, large red seal, together with a handwritten account of shares from the Sheffield Banking Company also dated 1884, some surface dirt at edges, very fine to extremely fine. (50) £300 This English company was formed to acquire the coal and iron mines in Rhea County, Tennessee in 1884.

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Bonds and Share Certificates of the World 717 Montana Mines: a fine collection of certificates, mainly from the Butte area comprising original Butte Mining Co., 188[1]; Basin Gold and Copper Mining Co., 1[899]; Butte Copper Exploration Co., 190[6]; north Butte Extension Copper Mining Co., 190[7]; British Butte Mining Co., 190[7]; Gold hill Copper Co., 19[08]; Illinois Gold Mining and Milling Co., 190[9]; king & Queen Mining Co., 19[12]; keating Gold Mining Co., 19[11]; Butte Central Mining & Milling Co., $500 bond, 1914; Corbin Copper Co., [1914]; Butte & London Copper Development Co., 19[14]; Maxville Gold & Silver Mining & Development Co., 19[29]; an unissued Butte Tombstone Co., 190-, and, an English prospectus for the Cataract Copper Mining Co., 1905, mixed condition but no damaged pieces, fine to very fine. (15)

Commercial and Industrial 720 American Breweries: a small group of British companies owning breweries in the United States, comprising Emerald and Phoenix Brewing Co. Ltd., £10 8% cumulative preference shares, 18[89]; San Francisco Breweries Ltd., £10 ordinary shares, 189[1]; Bartholomay Brewing Company (of Rochester) Ltd., £10 ordinary shares, 19[14], a few tone spots, filing holes at top, and, Frank Jones Brewing Co. Ltd., £5 ordinary shares and £10 preference shares, both 19[06], fine to very fine. (5) £80

£150

721 American Merchants Union Express Company, certificate for $100 shares, 186[9], no. 5754, signed

by William Fargo as President, vignette of wagon and cargo at dockside, dog’s head at left, black, impressed 5 cent duty stamp, diamond hole cancels, good very fine.

718 Oregon Gold Mining Company of Louisville, Kentucky, $10 shares, 188[6], no.46, allegorical female with cornucopia, black, gold seal, very fine.

£80 £80

719 A good group of British companies owning mines in the United States (11), Appalachian Ltd., 5/shares, 18[89]; British American Co-operative Mining Association Ltd., £1 shares, 188[2], uneven left edge; Eberhardt Co. Ltd., £1 shares, 18[81]; Golden Leaf Ltd., £1 shares, 189[0]; holcomb Valley Co. Ltd., 5/- shares, 189[5], rusty pin hole; Jackson Exploration and Development Co. Ltd., 4 pence shares, 190[0]; Malpaso Gold Washing Co. Ltd., £1 shares, 1872, ink stain at bottom right; Mountain Ledge Gold Mining Co. Ltd., £1 shares, 189[0], edge tear; nouveau Monde Gold Mining Co. Ltd., £1 shares, 188[8]; Saturn Silver Mining Company of Utah Ltd., £5 share, 1871, and Utah Silver-Lead Mining Co. Ltd., £5 shares, 18[73], this with spike hole and rusty clip mark, generally fine to very fine. (11) £150

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May 20, 2011 - London 724 Great Southern Lumber and Railway Supply Company, first mortgage 6% bond, $50, 1882, no.1112, large format piece with vignette of steam train in centre, green and black, with coupons, very fine. £50

722 Bank of the United States, certificate for 10 shares, Philadelphia 18[40], no.14421, issued to Johannes Stoop of Amsterdam, Liberty with eagle and US shield, sailing ship in background, black, good very fine. £100 725 North American Transportation and Trading Company (IL), $100 shares, Chicago 19[00], no.B923, signed by Michael Cudahy as president, steam train, lake with shipping and snow capped mountain, green and black, adhesive revenue stamp, about extremely fine. £80

726 Tabard Inn Corporation (NJ), preferred stock certificate for $10 shares, 19[04], no.A4663, historic Inn at top, lamp post and signposts at either side, brown and red, good very fine.

723 Emerald and Phoenix Brewing Co. Ltd., a set of specimen debentures from the Bradbury, Wilkinson & Co. archive, comprising 5% ‘A’ debentures, 1889, for £1000 (numbered 001-050), black with red underprint, £200 (numbered (051-300), black with green underprint, and 5% ‘B’ debentures, 1889, £200 (numbered 301-750), black with blue underprint, all with ornate borders, all coupons, small hole cancels, extremely fine. (3)

£60

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Bonds and Share Certificates of the World

WEST INDIES 727 Western Jamaica Connecting Railway from Old Harbour to Savannah-La-Mar & Montego Bay, scrip certificate for 20 shares of £25 being a deposit of £1 7s 6d per share, London 1845, no.4921-4940, Jamaican coat of arms in centre, scrollwork left, brown, extremely fine. £50

728 Société Anonyme des Rhummeries du Mouillage, 500 franc nominative share, Saint Pierre 188[3], no.989, of 2,000 issued, ornate scrollwork border with vignettes of goods at dockside, industrial scenes and cherubs, black and blue, with coupons, good very fine. £50

END OF THE SALE

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You can also bid real time on Spinklive. Just visit www.spink.com to register

Written Bids Form This form should be sent or faxed to be received by Spink Commission Bids office in advance of the sale.

References should be supplied in good time to be taken up before the sale. Bids received later than one hour before the start of the sale may not be processed.

69 Southampton Row, Bloomsbury, London WC1B 4ET Tel: (020) 7563 4020/4005 Fax: (020) 7563 4037

Sale Title

Date

Code Name

Sale No.

Bonds and Share Certificates of the World

Friday 20 May 2011 at 10.00 a.m.

MARINE

11006

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 the Purchase Price payable will be the sum of the final bid and a premium as a percentage of the final bid (together with any VAT chargeable). The Rate of Premium is 20% of the final hammer price; VAT is chargeable on the purchase price of daggered (†) and (Ω) lots at the standard rate (currently 20%), and on lots marked (x) at the reduced rate (currently 5% on the hammer and 20% on the premium). VAT on Margin Scheme lots is payable at 20% on the premium only. All bids shall be treated as offers made on the Terms and Conditions of Buyers printed in the catalogue. I also understand that Spink provides the service of executing bids 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 for the 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. If you require such notification then this is available on bids made via Spink’s online service.

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN STERLING Lot number (in numerical order)

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Bonds 11006 pages:Layout 1

Price Bid £ (excluding Buyer’s Premium)

Lot number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Please note that the Buyer’s Premium is 20% of the final hammer price of each lot Client number (if known): ................................................name: .....................................................................................

(Invoice name, please print) Address: ....................................................................................................................................................................................................... ..................................................................................................................................................Postcode: ...................................................

Tel. (home): .................................................................................(office): ...............................................................................................

Fax: ................................................................................................E-mail: .................................................................................................

Signature: ......................................................................................

Please indicate the type of card:

Visa

Visa Debit

Mastercard

Switch

American Express

Payment made by Mastercard or Visa are subject to a 2% surcharge and American Express 4%.

Card no: Signature

Start Date: Expiry Date

Issue no:

Security Code:

name (on credit card)

Please charge all purchases to my card Do not charge my card. I will arrange to send payment. (Spink will only charge your card should you default on the payment terms agreed) Please hold my purchased lots for collection

Continued...

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Sale No. 11006

Date: Friday 20 May 2011

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN STERLING Lot number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

References required for clients not yet known to Spink Bank name: .....................................................................................................................

Bank Address: ................................................................................................................................. ......................................................................................................................................................... ...................................................................................... Postcode: ................................................

Account number: ...........................................................................................................................

Date: ..............................................................................................................................................

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AUCTION RESULTS Sale:

The John Goudey Collection of Bonds & Other Properties

Sale no:

11012

Date:

Saturday 22 January 2011

Venue:

Hong Kong

Spink & Son Ltd 69 Southampton Row Bloomsbury London WC1B 4ET Telephone: (020) 7563 4000

The following prices in hk$ do not include the buyer’s premium and are rounded to the nearest hk$. Lots which did not sell are not shown.

Spink & Son are not responsible for typographical errors or omissions.

Lot

Price

1001 hk$3,600 1002 hk$3,600 1003 hk$1,050 1004 hk$4,400 1005 hk$4,600 1006 hk$2,600 1007 hk$3,800 1008 hk$8,000 1009 hk$3,600 1010 hk$3,400 1011 hk$2,600 1012 hk$2,400 1013 hk$10,000 1014 hk$4,400 1015 hk$3,800 1016 hk$2,800 1017 hk$10,000 1018 hk$7,000 1019 hk$5,500 1020 hk$21,000 1021 hk$2,800 1022 hk$3,200 1023 hk$5,200 1024 hk$4,800 1025 hk$17,000 1026 hk$17,000 1027 hk$6,500 1028 hk$11,000 1029 hk$2,600 1030 hk$2,200 1031 hk$1,100 1032 hk$4,800 1033 hk$6,000 1034 hk$1,100

Lot

Price

1035 hk$1,900 1036 hk$2,200 1037 hk$1,800 1038 hk$2,000 1039 hk$3,800 1040 hk$4,800 1041 hk$3,000 1042 hk$17,000 1043 hk$3,600 1044 hk$2,000 1045 hk$4,600 1046 hk$5,500 1047 hk$4,600 1048 hk$6,000 1049 hk$46,000 1051 hk$3,000 1052 hk$21,000 1054 hk$1,300 1055 hk$1,300 1056 hk$2,400 1057 hk$1,400 1058 hk$1,300 1059 hk$1,400 1060 hk$1,500 1062 hk$2,000 1063 hk$3,200 1064 hk$4,600 1065 hk$1,100 1066 hk$4,200 1067 hk$3,500 1068 hk$3,500 1069 hk$2,500 1070 hk$2,500 1071 hk$3,200

Lot 1072 1073 1074 1075 1076 1077 1078 1079 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106

Price hk$1,000 hk$1,600 hk$1,300 hk$800 hk$800 hk$1,100 hk$5,500 hk$3,500 hk$4,600 hk$3,400 hk$1,200 hk$3,800 hk$1,900 hk$3,800 hk$1,100 hk$1,300 hk$2,000 hk$4,800 hk$3,600 hk$4,800 hk$1,800 hk$6,500 hk$1,600 hk$3,600 hk$6,000 hk$3,800 hk$4,800 hk$2,000 hk$6,500 hk$1,300 hk$1,300 hk$1,600 hk$3,000 hk$2,000

Lot 1107 1108 1109 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1135 1136 1139 1140 1141 1142 1143 1144

Price hk$3,400 hk$2,200 hk$2,000 hk$1,800 hk$2,000 hk$7,000 hk$4,200 hk$4,600 hk$4,200 hk$3,600 hk$2,600 hk$4,000 hk$3,400 hk$1,000 hk$1,000 hk$3,000 hk$1,400 hk$700 hk$4,800 hk$3,600 hk$3,200 hk$1,900 hk$3,200 hk$3,000 hk$5,000 hk$2,500 hk$2,000 hk$900 hk$3,200 hk$1,200 hk$700 hk$5,000 hk$900 hk$1,400

Lot

Price

1145 hk$1,700 1146 hk$4,000 1147 hk$1,700 1148 hk$5,000 1149 hk$6,000 1150 hk$1,500 1151 hk$5,000 1152 hk$3,200 1153 hk$14,000 1154 hk$21,000 1155 hk$4,000 1156 hk$7,500 1157 hk$2,400 1158 hk$1,000 1159 hk$1,000 1160 hk$1,600 1161 hk$2,500 1162 hk$2,600 1163 hk$1,200 1164 hk$2,200 1165 hk$1,000 1166 hk$900 1167 hk$8,500 1168 hk$4,600 1169 hk$3,200 1170 hk$5,500 1171 hk$3,000 1172 hk$1,700 1173 hk$1,000 1174 hk$2,400 1175 hk$2,500 1176 hk$1,100 1177 hk$7,000 1178 hk$2,000

Lot

Price

1179 hk$2,200 1180 hk$7,500 1181 hk$5,000 1182 hk$650 1183 hk$6,000 1184 hk$4,200 1185 hk$2,400 1186 hk$5,000 1187 hk$5,000 1188 hk$14,000 1190 hk$500 1191 hk$800 1192 hk$700 1193 hk$2,800 1194 hk$1,700 1195 hk$2,000 1196 hk$1,800 1197 hk$1,300 1198 hk$1,900 1199 hk$700 1200 hk$2,800 1201 hk$1,100 1202 hk$3,200 1203 hk$1,900 1204 hk$1,600 1205 hk$1,200 1206 hk$450 1207 hk$750 1208 hk$1,500 1209 hk$2,600 1210 hk$7,500 1212 hk$1,300 1214 hk$750 1216 hk$500

Bonds 11006 pages:Layout 1

Lot Price 1217 hk$650 1218 hk$1,600 1219 hk$1,600 1220 hk$700 1221 hk$2,500 1222 hk$750 1223 hk$1,200 1224 hk$1,600 1225 hk$1,700 1226 hk$950 1227 hk$1,900 1228 hk$52,000 1229 hk$5,500 1230 hk$4,200 1231 hk$4,200 1232 hk$1,900 1233 hk$3,800 1234 hk$3,200 1235 hk$5,500 1236 hk$1,600 1237 hk$2,100 1238 hk$2,300 1239 hk$21,000 1240 hk$4,800 1241 hk$2,000 1242 hk$5,800 1243 hk$1,700

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Lot Price 1244 hk$3,200 1245 hk$2,000 1246 hk$4,200 1247 hk$1,600 1249 hk$850 1250 hk$2,600 1251 hk$7,000 1252 hk$1,400 1253 hk$1,000 1254 hk$1,700 1255 hk$22,000 1256 hk$3,800 1257 hk$600 1258 hk$1,700 1259 hk$3,500 1260 hk$1,600 1261 hk$11,000 1262 hk$2,500 1263 hk$1,300 1264 hk$9,000 1265 hk$1,300 1266 hk$1,400 1267 hk$4,000 1268 hk$3,500 1269 hk$5,200 1270 hk$1,700 1271 hk$1,600

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Lot Price 1272 hk$650 1273 hk$1,600 1274 hk$850 1275 hk$3,200 1276 hk$750 1277 hk$750 1278 hk$900 1279 hk$2,600 1280 hk$1,700 1281 hk$38,000 1282 hk$2,200 1283 hk$1,100 1284 hk$750 1285 hk$5,200 1286 hk$850 1287 hk$2,600 1288 hk$1,400 1289 hk$1,600 1290 hk$2,900 1291 hk$2,500 1292 hk$550 1293 hk$19,000 1294 hk$8,500 1295 hk$9,000 1296 hk$20,000 1297 hk$16,000 1298 hk$2,600

Lot 1299 1300 1301 1302 1303 1304 1305 1306 1307 1308 1309 1310 1311 1312 1313 1316 1317 1318 1319 1320 1321 1322 1323 1324 1325 1326 1327

Price hk$1,300 hk$1,000 hk$750 hk$600 hk$1,600 hk$1,600 hk$600 hk$1,300 hk$1,600 hk$2,000 hk$1,700 hk$2,300 hk$1,900 hk$2,600 hk$1,900 hk$4,000 hk$1,100 hk$1,600 hk$2,000 hk$1,800 hk$4,500 hk$1,900 hk$2,000 hk$1,700 hk$1,300 hk$1,600 hk$4,200

Lot Price 1328 hk$2,500 1329 hk$2,300 1330 hk$3,200 1331 hk$6,500 1332 hk$4,800 1333 hk$5,200 1334 hk$3,800 1335 hk$3,000 1336 hk$2,600 1337 hk$950 1338 hk$3,800 1339 hk$1,800 1340 hk$1,500 1341 hk$1,300 1342 hk$1,500 1343 hk$10,000 1344 hk$3,800 1345 hk$5,200 1346 hk$5,200 1347 hk$10,000 1348 hk$2,200 1349 hk$3,000 1350 hk$1,500 1351 hk$1,600 1352 hk$800 1353 hk$800 1354 hk$950

Lot Price 1355 hk$5,000 1356 hk$1,800 1357 hk$13,000 1358 hk$13,000 1359 hk$450 1360 hk$1,500 1361 hk$600 1362 hk$10,000 1363 hk$450 1364 hk$2,600 1365 hk$1,000 1366 hk$2,600 1367 hk$3,200 1369 hk$550 1371 hk$1,400 1372 hk$800 1373 hk$700 1375 hk$1,800 1376 hk$1,900 1377 hk$3,500 1378 hk$1,000

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

1

DEFINITIONS The following definitions in this condition apply in these conditions.

2

3

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 description in 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 accordance with the description in the catalogue. Accordingly, no Lot shall be capable of being a Forgery by reason of any damage and/or restoration 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; and

VAT Symbols

means the symbols detailing the VAT status of the Lot details of which are set out at the back of the catalogue.

SPINK’S ROLE AS AGENT 2.1

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

2.2

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

3.4

3.4.1 If you wish to obtain an expert opinion or Certificate of Authenticity on any Lot (other than a mixed Lot or Lot containing undescribed stamps) you must notify us in writing not less than forty-eight hours before the time fixed for the commencement of the first session of the sale. If accepted by us, such request shall have the same effect as notice of an intention to question the genuineness or description of the Lot for the purposes of clause 5.13 of these Terms and Conditions and the provisions of clause 5.13 shall apply accordingly.

BEFORE THE SALE 3.1

3.2

3.4.2 notice of a request for an expert opinion or Certificate of Authenticity must give the reason why such opinion is required and specify the identity of your proposed expert which will be subject to agreement by us.

Examination of goods You are strongly advised to examine personally any goods in which you are interested, before the auction takes place. Condition reports are usually available on request. We provide no guarantee to you other than in relation to Forgeries, as set out in clause 5.13 of these Terms and Conditions.

3.4.3 If we accept a request for an expert opinion or Certificate of Authenticity we will submit the Lot to the Expert Committee.

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

3.2.1 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 merely statements of opinion, and are not to be relied on as statements of definitive fact. Catalogue illustrations are for guidance only, and should not be relied on either to determine the tone or colour of any item or to reveal imperfections. Estimates of the selling price should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose.

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

3.4.5 Should Spink accept a request for an extension under the foregoing provisions of this paragraph, the fact may be stated by the Auctioneer from the rostrum prior to the sale of the Lot. 3.4.6 It should be noted that any stamp accompanied by a Certificate of Authenticity is sold on the basis of that Certificate only and not on the basis of any other description or warranty as to authenticity. no request for an extension will be accepted on such a stamp and the return of such a stamp will not be accepted.

4

AT THE SALE 4.1

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, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot nor for any other errors of description or for any faults or defects in any Lot. Your Responsibility You are responsible for satisfying yourself as to the condition of the goods and the matters referred to in the catalogue description.

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Refusal of admission our sales usually take place on our own premises or premises over which we have control for the sale, and we have the right, exercisable at our complete discretion, to refuse admission to the premises or attendance at an auction.

4.2 3.3

Extensions – Stamps only

Registration before bidding You must complete and sign a registration form and provide identification before making a bid at auction. Please be aware that we usually require buyers to undergo a credit check.

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4.3

4.4

4.5

4.6

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Bidding as Principal When making a bid (whether such bids are made in person or by way of telephone bids operated by Spink, commission or online or email bids), you will be deemed to be acting as principal and will be accepting personal liability, unless it has been agreed in writing, at the time of registration, that you are acting as agent on behalf of a third party buyer acceptable to us.

Commission Bids If you give us instructions to bid on your behalf, by using the form provided in our catalogues or via our website, we shall use reasonable endeavours to do so, provided these instructions are received not later than 24 hours before the auction. If we receive commission bids on a particular Lot for identical amounts, and at auction these bids are the highest bids for the Lot, it will be sold to the person whose bid was received first. Commission bids are undertaken subject to other commitments at the time of the sale, and the conduct of the auction may be such that we are unable to bid as requested. Since this is undertaken as a free service to prospective buyers on the terms stated, we cannot accept liability for failure to make a commission bid. You should therefore always attend personally if you wish to be certain of bidding.

On-line Bidding We offer internet services as a convenience to our clients. We will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of internet connection by either party for whatever reason; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with your internet connection, computer or system. Execution of on-line internet bids is a free service undertaken subject to other commitments at the time of the auction and we do not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity.

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

Currency Converter At some auctions, a currency converter will be operated, based on the one month forward rates of exchange quoted to us by Royal Bank of Scotland or any other appropriate rate determined by us, at opening on the date of the auction. Bidding will take place in a currency determined by us, which is usually sterling for auctions held in London.

The currency converter is not always reliable, and errors may occur beyond our control either in the accuracy of the Lot number displayed on the converter, or the foreign currency equivalent of sterling bids.

We shall not be liable to you for any loss suffered as a result of you following the currency converter.

4.8

Video images At some auctions there will be a video screen. Mistakes may occur in its operation, and we cannot be liable to you regarding either the correspondence of the image to the Lot being sold or the quality of the image as a reproduction of the original.

4.9

Bidding Increments Bidding generally opens below the low estimate and advances in the following order although the auctioneer may vary the bidding increments during the course of the auction. 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

4.10 Bidding by Spink 4.10.1 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 the low estimate printed in the auction catalogue.

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

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

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4.12 Successful Bid Subject to the auctioneer’s discretion, the striking of his hammer marks the acceptance of the highest bid, provided always that such bid is higher than the Reserve (where applicable), and the conclusion of a contract for sale between you and the Seller.

4.13 After Sale Arrangements If you enter into any private sale agreements for any Lot with the Seller within 60 days of the auction, we, as exclusive agents of the Seller reserve the right to charge you the applicable Buyer’s Premium in accordance with these Terms and Conditions, and the Seller a commission in accordance with the terms of the Seller’s agreement.

5

AFTER THE AUCTION 5.1 Buyer’s Premium In addition to the hammer price, you must pay us the Buyer’s Premium of 20% on the final hammer price of each Lot. 5.2

Value Added Tax other than in respect of Zero-rated Lots (o) (see VAT Symbols for details), VAT is payable on the Buyer’s Premium and on the hammer Price, if the Lot has been marked with a sign to that effect in the catalogue (see VAT Symbols for details).

5.3

VAT Refunds General 5.3.1 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 of sale, you will generally be asked to deposit all amounts of VAT invoiced. however, if a Spink nominated shipper is instructed, then any refundable VAT will not be collected. In all other cases credits will be made when proof of export is provided. If you export the Lot yourself you must obtain shipping documents from the Shipping 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 export certificate to us within 3 months of the date of sale. If you fail to return the proof of export certificate to us within such period and you have not already accounted to us for the VAT, you will be liable to us for the full amount of the VAT due on such Lot and we shall be entitled to invoice you for this sum.

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

VAT Refunds - Buyers from within the EU 5.3.4 VAT refunds are available on the hammer Price and Buyer’s Premium of Daggered (†) and Investment Gold (g) Lots. You must certify that you are registered for VAT in another EU country and that the Lot is to be removed from the United kingdom within 3 months of the date of sale.

5.3.5 Where an EU buyer purchases a Lot on which import VAT has been charged, no refund of VAT is available from us. It may be possible to apply directly for a refund on form VAT 65 to hM Revenue & Customs overeseas Repayment Section, Londonderry.

VAT Refunds – Buyers from outside the EU 5.3.6 Where a Lot is included within the Auctioneers’ Margin Scheme and evidence of export from the EU is produced within 3 months of the date of sale, the VAT element included within the 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 refunded where evidence of export from the EU is produced within 3 months of the date of sale. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer.

5.3.8 Where the Lot is marked as an omega (Ω) Lot or an Import VAT (x) Lot and evidence of export from the EU is produced within 3 months of the date of sale, the VAT charged on both the hammer Price and Buyer’s Premium may be refunded. Where required, we can advise you on how to export such Lots as a specific form of export evidence is required. Where we advise you on the export of the Lots, please be aware that the ultimate responsibility in respect of obtaining a valid proof of export certificate will lie with you and we will not be responsible for your failure to obtain such certificate.

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Payment 5.4.1 You must provide us with your full name and permanent address and, if so requested, details of the bank from which any payments to us will be made. You must pay the full amount due (comprising the hammer Price, the Buyer’s Premium and any applicable VAT) within seven days after the date of the sale. This applies even if you wish 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 due to us have been paid in full to us, even in circumstances where we have released the Lot to you.

5.4.3 Payment should be made in sterling by one of the following methods: 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 the transfer. i(ii) By cheque or bank draft made payable to Spink and Son Ltd and sent to Spink at 69 Southampton Row, Bloomsbury, London WC1B 4ET. Please note that the processing charges for payments made by cheques or bank drafts drawn on a non-U.k bank shall be met by you. Please ensure that the remittance slip printed at the bottom of the invoice is enclosed with your payment. (iii) By Visa or Mastercard. A charge of 2% will be applied.

Payments exceeding £5,000 can normally only be made by the card holder in person whilst on our premises.

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

5.5 Invoices Invoices may consist of one or more pages and will show: Zero rated Lots (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 hammer for EU VAT registered buyers.

5.6 Collection of Purchases 5.6.1 Unless we specifically agree to the contrary, we shall retain items sold until all amounts due to us, or to the Spink Group, have been paid in full.

5.6.2 Unless we notify you to the contrary, items retained by us will be covered in accordance with our policy which is available for inspection at our offices from the date of sale for a period of seven days or until the time of collection, whichever is sooner. After seven days or from the time of collection, whichever is the earlier, the Lot will be entirely at your risk.

5.6.3 our policy will not cover and we are unable to accept responsibility for damage caused by woodworm, changes in atmospheric conditions or acts of terrorism.

5.7 Notification We are not able to notify successful bidders by telephone. While Invoices are sent out by mail after the auction we do not accept responsibility for notifying you of the result of your bid. You are requested to contact us by telephone or in person as soon as possible after the auction to obtain details of the outcome of your bids to avoid incurring charges for late payment.

5.8 Packing and handling We shall use all reasonable endeavours to take care when handling and packing a purchased Lot but remind you that after seven days or from the time of collection, whichever is sooner, the Lot is entirely at your risk. our postage charges are set out at the back of the catalogue.

5.9 Recommended packers and shippers If required our shipping department may arrange shipment as your agent. Although we may suggest carriers if specifically requested, our suggestions are made on the basis of our general experience of such parties in the past and we are not responsible to any person to whom we have made a recommendation for the acts or omissions of the third parties concerned.

5.10 Remedies for non-payment or failure to collect purchases 5.10.1 If you fail to make payment within seven days of your stipulated payment date set out in your invoice, we shall be entitled to exercise one 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 full amount is due; 5.10.1.2 to set off against any amounts which the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.10.1.3 we may keep hold of all or some of your Lots or other property in the possession of the Spink Group until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property.

Following fourteen days’ notice to you of the amount outstanding and remaining unpaid, the Spink Group shall have the right to arrange the sale of such Lots or other property. We shall apply the proceeds in discharge of the amount outstanding to us or the Spink Group, and pay any balance to you;

Spink Uni (12/09) (20)

5.10.1.4 where several amounts are owed by you to the Spink Group in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not you so direct; 5.10.1.5 to reject at any future auction any bids made by you or on your behalf or obtain a deposit from you before accepting any bids.

5.10.2 If you fail to make payment within thirty-five days, we shall in addition be entitled: 5.10.2.1 to cancel the sale of the Lot or any other item sold to you at the same or any other auction; 5.10.2.2 to arrange a resale of the Lot, publicly or privately, and, if this results in a lower price being obtained, claim the balance from you together with all reasonable costs including a 20% seller’s commission, expenses, damages, legal fees, commissions and premiums of whatever kind associated with both sales or otherwise, incurred in connection with your failure to make payment; or 5.10.2.3 take any other appropriate action as we deem fit.

5.11 Failure to collect Where purchases are not collected within seven days after the sale, whether or not payment has been made, you will be required to pay a storage charge of £2 per item per day plus any additional handling cost that may apply. You will not be entitled to collect the Lot until all outstanding charges are met, together with payment of all other amounts due to us.

5.12 Export Licence 5.12.1 If required we can, at our discretion, advise you on the detailed provisions of the export licensing regulations. Where we advise you in relation to export licensing regulations the ultimate responsibility in respect of any export will lie with you and we will not be responsible 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 be required to produce a valid export licence to us or sign a waiver document stating that a licence will be applied for.

5.12.3 You should always check whether an export licence is required before exporting. Export licences are usually obtained within two or three weeks but delays can occur.

5.12.4 Unless otherwise agreed by us in writing, the fact that you wish to apply for an export licence does not affect your obligation to make payment within seven days nor our right to charge interest on late payment.

5.12.5 If you request that we apply for an export licence on your behalf, we shall be entitled to recover from you our disbursements and out of pocket expenses in relation to such application, together with any relevant VAT. 5.12.6 We will not be obliged to rescind a sale nor to refund any interest or other expenses incurred by you where payment is made by you despite the fact that an export licence is required.

5.13 Refund in the case of Forgery 5.13.1 A sale will be cancelled, and the amount paid refunded to you if a Lot (other than a miscellaneous item not described in the catalogue) sold by us proves to have been a Forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description or saleroom notice at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions, or (b) it can be demonstrated that the Lot is a Forgery only by means of either a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the Lot. Furthermore, you should note that this refund can be obtained only if the following conditions are met: 5.13.1.1 you must notify us in writing, within seven days of the auction date, that in your view the Lot concerned is a Forgery; 5.13.1.2 you must then return the item to us within fourteen days, in the same condition as at the auction date; and 5.13.1.3 as soon as possible following return of the Lot, you must produce evidence satisfactory to us that the Lot is a Forgery and that you are able to transfer good title to us, free from any third party claims.

5.13.2 In no circumstances shall we be required to pay you any more than the amount paid by you for the Lot concerned and you shall have no claim for interest.

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5.13.3 The benefit of this guarantee is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the owner of the Lot without disposing of any interest in it to any third party.

5.13.4 We shall be entitled to rely on any scientific or other process to establish that the Lot is not a Forgery, whether or not such process was used or in use at the date of the auction.

6

11 Law and Jurisdiction 11.1 These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter, shall be governed by, and construed in accordance with, the law of England and Wales.

11.2 The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, Terms and Conditions or their subject matter.

LIABILITY nothing in these Terms and Conditions limits or excludes our liability for:

7

8

6.1

death or personal injury resulting from negligence; or

6.2

any damage or liability incurred by you as a result of our fraud or fraudulent misrepresentation.

COPYRIGHT 7.1

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 image will belong to us, and we shall have the right to use it in whatever way we see fit.

7.2

The copyright in all images, illustrations and written material relating to a Lot is and shall remain at all times our property and we shall have the right to use it in whatever way we see fit. You shall not use or allow anyone else to use such images, illustrations or written material without our prior written consent.

Prices for books (items sent by this method are not covered by insurance) Weight Up to 1kg Up to 2kg

UK £8 for any weight £8 for any weight

EU £12 £18

Rest of the World £15 £25

Prices for all other items including postage, packaging and insurance Invoice Value Up to £1,500 Above £1,501*

UK £10 £20

EU** £15 £30

Rest of the World £20 £40

VAT You shall give us all relevant information about your VAT status and that of the Lot to ensure that the correct information is printed in the catalogues. once printed, the information cannot be changed. If we incur any unforeseen cost or expense as a result of the information being incorrect, you will reimburse to us on demand the full amount incurred.

9

Postal Charges

NOTICES All 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 other party. Any notice sent by post will be deemed to have been received on the second working day after posting or, if the addressee is overseas, on the fifth working day after posting. Any notice sent by fax or served personally will be deemed to be delivered on the first working day following despatch.

***Minimum courier cost please contact auctionteam@spink.com for actual cost. ***Certain countries may incur £30 extra charge when courier services are required by our insurance policy.

Value Added Tax (VAT) The information shown on this page sets out the way in which Spink intends to account for VAT. i.

1. Where possible, we will offer Lots for sale under the Auctioneers’ Margin Scheme. Such Lots can be identified by the absence of any symbol next to the Lot number in the catalogue and will not be subject to VAT on the hammer Price.

10 ADDITIONAL PROVISIONS

2. Where Lots are sold using the Auctioneers’ Margin Scheme to VAT–registered businesses, the VAT included within the Buyers’ Premium is not recoverable as input tax. Upon request on sale day, we will issue invoices that show VAT separately on both the hammer Price and the Buyer’s Premium. This will enable VAT-registered businesses to recover the VAT charged as input tax, subject to the normal rules for recovering input tax.

The following provisions of this clause 10 shall apply only if you are acting for the purposes of your business.

10.1 Limitation of Liability Subject to clause 6, we shall not be liable, whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation or otherwise for any: 10.1.1 loss of profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods, loss of contract, loss of use, loss of corruption of data or information; or

ii.

10.2 Severability

10.3 Force majeure We shall have no liability to you if we are prevented from, or delayed in performing, our obligations under these Terms and Conditions or from carrying on our business by acts, events, omissions or accidents beyond our reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving our workforce or the workforce of any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, 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.

iii.

10.4.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law.

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Daggered Lots 1. Lots which are Daggered (†) in the catalogue are subject to VAT at 20% on both the hammer Price and the Buyer’s Premium.

iv.

Starred and Omega Lots 1. Lots which are marked (x) in the catalogue are subject to VAT at 5% on the hammer Price and 20% on the Buyer’s Premium which is shown as inclusive of VAT. Lots which bear the omega symbol (Ω) are subject to VAT at 20% on the hammer Price and on the Buyer’s Premium. Such Lots bear VAT because the Lot is liable for VAT at this rate on importation into the EU.

v.

Investment Gold Lots 1. Lots marked (g) in the catalogue are exempt from VAT on the hammer Price and are subject to VAT at 20% on the Buyer’s Premium. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer.

10.4 Waiver 10.4.1 A waiver of any right under these Terms and Conditions is only effective if it is in writing and it applies only to the circumstances for which it is given. no failure or delay by a party in exercising any right or remedy under these Terms and Conditions or by law shall constitute a waiver of that (or any other) right or remedy, nor preclude or restrict its further exercise. no single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that (or any other) right or remedy.

Zero-Rated Lots 1. Limited Categories of goods, such as books, are Zero-rated (o) for VAT in the United kingdom. Such Lots are offered under the Auctioneers’ Margin Scheme. In these circumstances no VAT element will be included within the Buyer’s Premium.

10.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

If any part of these Terms and Condition is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable to the fullest extent permitted by law.

Auctioneers’ Margin Scheme

vi.

Imported Lots 1. Lots which are marked (x) and Lots which bear the omega symbol (Ω) have VAT charged on the hammer Price and Buyers’ Premium because they have been imported into the United kingdom from outside the EU. In these cases we have used a temporary importation procedure, which in effect means that the point of importation is deferred until the Lot has been sold. At this point the Buyer is treated as the importer and is liable to pay the import VAT due. We will collect the VAT from you and pay it to hM Customs and Excise on your behalf.

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Olivier D. Stocker Group Chairman & CEO

Coins, Stamps, Banknotes, Medals, Bonds & Shares, Autographs & Books

SPINK UK Timothy Hirsch Director Anthony Spink Non-Executivc Director Monica Kruber Executive Assistant to CEO Auction and Client Management Team Emily Johnston Miroslava Adusei-Poku Luca Borgo Phillipa Brown Finance Alison Bennet Mina Bhagat Alison Kinnaird Shyam Padhiar James Willan IT & Administration Berdia Qamarauli Segun Magbagbeola Liz Cones Curlene Spencer John Winchcombe

James McGuire

SPINK USA Charles F. Shreve President Tracy L. Shreve Chief Operating Officer John Herzog Chairman Emeritus Finance Dennis Muriu Ingrid Qureshi Sam Qureshi Auction Administration Rick Penko Patricia Lou Gardner Marketing & Design Emily Cowin William Jackson Shawn Barnes Administration Marcy Gottberg

Clyde Townsend

SPINK ASIA Gary Tan SPECIALISTS Bonds & Shares Mike Veissid Stamps David Parsons Nick Startup Neill Granger Paul Mathews Guy Croton Dominic Savastano Chris Anderson Charles Shreve Tim Hirsch George Eveleth Ed Robinson Coins Richard Bishop Paul Dawson John Pett William MacKay Julie-Morgane Lecoindre Jim Fitzgerald Arthur Bryant Matthew Orsini Thomas Tesoriero Normand Pepin Banknotes Barnaby Faull Matthew Orsini Jim Fitzgerald Francesca Girelli Autographs Robert Litzenberger Orders, Decorations, Medals & Militaria Mark Quayle Oliver Pepys Books Philip Skingley Rebecca Mason

AUCTION CALENDAR 2011 Stamps 5/6 May 25/26 May 8 June 30 June 13/14 July July (TBA) 25 September

Spring Collector’s Series Sale The Rolfe E. Wyer Collection of French Colonies Dr. Robert Towers Collection of British Empire The Pasha Collection of Islamic Proofs, Stamps and Postal History Part 1 Summer Collector’s Series Sale Philatelic Collector’s Series Sale Fine Stamps & Covers of South East Asia

London New York London London London New York Singapore

Banknotes 20/21 May 24 September 27/28/29 September 8 December

Texas Numismatic Association Sale Banknotes & Bonds of South East Asia World Banknotes World Banknotes

Fort Worth Singapore London London

11017 11019 11020

Bonds and Shares 20/21 May 20 May 21 October

Texas Numismatic Association Sale Bonds & Share Certificates of the World Bonds & Share Certificates of the World

Fort Worth London London

11006 11022

Coins 20/21 May 23 June 6 October 1 December

Texas Numismatic Association Sale Ancient, English & Foreign Coins and Commemorative Medals Ancient, English & Foreign Coins and Commemorative Medals Ancient, English & Foreign Coins and Commemorative Medals

Fort Worth London London London

11009 11023 11024

Medals 21 July 24 November

Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria

London London

11010 11011

The above sale dates are subject to change Our Environmental Commitment: Paper from Sustainable Forests and Non Hazardous Ink For centuries Spink and its employees have been preserving and curating collectable items. We now wish to play a modest role in preserving our planet, as well as the heritage of collectables, so future generations may enjoy both.

We insist that our printers source all paper used in the production of Spink catalogues from FSC registered suppliers (for further information on the FSC standard please visit fsc.org) and use inks containing non hazardous ingredients. Spink recycle all ecological material used on our premises and we would encourage you to recycle your catalogue once you have finished with it.

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.

11018 11025 11028 11029 11016

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Spink London Bonds and Share Certificates of the World FRIDAY 20 MAY 2011

Bonds and Share Certificates of the World

COINS STAMPS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS & BOOKS

spink.com

Telephone: +44 (0)20 7563 4000 Fax: +44 (0)20 7563 4066

£25

11006

69 Southampton Row, Bloomsbury, London WC1B 4ET

LONDON, FRIDAY 20 MAY 2011