Bonds & Share Certificates of the World

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£25

R BONDS & SHARE CERTIFICATES OF THE WORLD

R 29 NOVEMBER 2012

69 Southampton Row, Bloomsbury, London WC1B 4ET www.spink.com

LONDON

© Copyright 2012

R

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

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GROUP CHAIRMAN AND CEO Olivier D. Stocker

SALE CALENDAR 2012/2013

YOUR SPECIALISTS STAMPS UK - Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith USA - George Eveleth Andrew Titley Ed Robinson Rick Penko EUROPE - Guido Craveri Fernando Martínez CHINA - Anna Lee Johnny Sang COINS UK - Paul Dawson Julie-Morgane Lecoindre Richard Bishop William MacKay Barbara Mears John Pett USA - Stephen Goldsmith Matthew Orsini Normand Pepin CHINA - Mark Li BANKNOTES, BONDS & SHARES UK - Barnaby Faull Mike Veissid Andrew Pattison Tom Badley USA - Stephen Goldsmith Matthew Orsini CHINA - Mark Li ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys BOOKS UK - Philip Skingley Bobby McBrierty AUTOGRAPHS USA - Stephen Goldsmith WINES CHINA - Anna Lee Guillaume Willk-Fabia YOUR EUROPE TEAM (LONDON - LUGANO)

STAMPS 3 November 13/14 November 14/15 November 15 November 15 November 27 November 12 December 13 January 13 January 23 January 24 January

The Collector’s Series Sale The Morgan Collection of Australian Commonwealth The Collector’s Series Sale La Collection “Alienor” - Type “Blanc” de France The Collector’s Series Sale Great Britain - The “Fordwater” Collection The Chartwell Collection - GB Line-Engraved Essays, Proofs, Stamps and Covers - Part IV The Mizuhara Collection of Korean Stamps Fine Stamps and Covers of Hong Kong and China The “Lionheart” Collection of Great Britain and British Empire Specimen Stamps The Collector’s Series Sale

Hong Kong London London London New York London London Hong Kong Hong Kong London London

CSS04 12046 12020 12051 141 12049 12021 13008 13009 13010 13011

The Collector’s Series Sale The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Fine Coins of Hong Kong and China The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Ancient, British & Foreign Coins and Commemorative Medals

Hong Kong New York London Hong Kong New York London London

CSS04 315 12027 13007 316 13012 13013

The Collector’s Series Sale World Banknotes The David Kirch Collection of English Provincial Banknotes - Part II Banknotes of Hong Kong and China The Collector’s Series Sale World Banknotes

Hong Kong London London Hong Kong New York London

CSS04 12024 12050 13005 316 13004

Orders, Orders, Orders, Orders,

London London London London

12004 13001 13002 13003

The Collector’s Series Sale Bonds and Share Certificates of the World Bonds and Share Certificates of Hong Kong and China The Collector’s Series Sale Bonds and Share Certificates of the World

Hong Kong London Hong Kong New York London

CSS04 12011 13006 316 13016

The Collector’s Series Sale

New York

An Evening of Exceptional Wines

Hong Kong

COINS 3 November 12/13 November 4/5 December 12 January 15/16 January 27 March 27 June

BANKNOTES 3 November 13 December 14 December 12 January 15/16 January 9/10/11 April

Chairman’s Office Dennis Muriu Monica Kruber Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Sandie Maylor Charles Blane Luca Borgo Phillipa Brown Rita Ariete Sarah Schmitz María Martínez Maurizio Schenini

MEDALS 22 25 25 21

November April July November

Decorations, Decorations, Decorations, Decorations,

Campaign Campaign Campaign Campaign

Medals Medals Medals Medals

& & & &

Militaria Militaria Militaria Militaria

Finance Alison Bennet Marco Fiori Mina Bhagat Alison Kinnaird Billy Tumelty IT & Administration Berdia Qamarauli Attila Gyanyi Liz Cones Curlene Spencer John Winchcombe Harry Gladwin Tom Robinson Cristina Dugoni Giacomo Canzi YOUR AMERICA TEAM (NEW YORK - DALLAS)

BONDS AND SHARES 3 November 29 November 12 January 15/16 January 17 May

Chairman Emeritus John Herzog Auction Administration and Marketing & Design Rick Penko Patricia Gardner James McGuire Emily Cowin Clyde Townsend

AUTOGRAPHS 15/16 January

316

Finance & Administration Sam Qureshi Ingrid Qureshi Ed Robinson Auctioneers Stephen Goldsmith Andrew Titley

WINES 6 December

YOUR ASIA TEAM (HONG KONG - SINGAPORE) Vice Chairman Anna Lee Administration Amy Yung Dennis Chan Newton Tsang Raymond Tat Gary Tan

The above sale dates are subject to change Spink offers the following services: – VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS – – SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

SFW02

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BONDS AND SHARE CERTIFICATES OF THE WORLD

29 November 2012 in London and on

and/or

SALE LOCATION

YOUR SPINK TEAM FOR THIS SALE

spiNK LoNdoN 69 southampton row, bloomsbury London WC1b 4et tel +44 (0)20 7563 4000 fax +44 (0)20 7563 4066 vat No: gb 791627108

for your questioNs about the saLe Lots

Mike Veissid mveissid@spink.com +44 (0)20 7563 4078

for your bids

SALE DETAILS thursday 29 November 2012 at 10.00 a.m. in sending commission bids or making enquiries, this sale should be referred to as WINDMILL - 12011

Miroslava Adusei-Poku auctionteam@spink.com +44 (0)20 7563 4020 fax +44 (0)20 7563 4037 for your iNterNet biddiNg

Attila Gyanyi agyanyi@spink.com +44 (0)20 7563 4090

VIEWING OF LOTS for your paymeNt

spiNK LoNdoN 69 southampton row, bloomsbury London WC1b 4et

Billy Tumelty btumelty@spink.com +44 (0)20 7563 4023

Wednesday 28 November 2012 10.00 a.m. - 5.00 p.m. for your vat eNquiries

John Winchcombe jwinchcombe@spink.com +44 (0)20 7563 4101 spink is pleased to continue to offer spink Live, the internet bidding service which has revolutionized the way in which our clients bid at auction. to get started, feel free to contact us today for personal assistance. attila gyanyi is available by e-mail: agyanyi@spink.com or tel: +44 (0)20 7563 4090. use this qr code to visit our online catalogue and leave proxy bids on spink Live. you can download the qr Code reader for iphone, blackberry and android from app store on your smartphone

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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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back Cover illustration: 443

to purchase a catalogue: email: catalogues@spink.com tel: +44 (0)20 7563 4108 fax: +44 (0)20 7563 4037 for more information about spink services, forthcoming sales and sales results visit the spink Website www.spink.com

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boNds aNd share CertifiCates of the WorLd

INDEX BY COUNTRY ALGERIA ANGOLA ARGENTINA AUSTRALIA BELGIAN CONGO BELGIUM BOLIVIA BRAZIL BRITISH GUIANA BRITISH HONDURAS BULGARIA CANADA CHILE CHINA COLUMBIA CONFEDERATE STATES OF AMERICA COSTA RICA CUBA CZECHOSLOVAKIA DANISH WEST INDIES DOMINICAN REPUBLIC ECUADOR EGYPT EL SALVADOR ESTONIA FIJI FINLAND FRANCE GERMANY GIBRALTAR GREAT BRITAIN GREECE GUINEA BISSAU HONDURAS

13 14-15 573-580 273-297 16-21 310-318 581 582-602 603-604 605 319-326 303-309 606-611 58-242 612-614 742-754 615-616 617-637 327 638 639 640-641 42-54 642 328-330 298 331 332-372 373-378 379 462-572 380-404 24 643

HUNGARY ICELAND INDIA ITALY IVORY COAST JAPAN MALAYA MEXICO MONTENEGRO NEW ZEALAND NIGERIA NORWAY OTTOMAN EMPIRE PALESTINE PANAMA PARAGUAY PERU PHILLIPINES POLAND PORTUGAL REUNION RHODESIA ROUMANIA RUSSIA SARAWAK SENEGAL SIERRA LEONE SOUTH AFRICA SPAIN SWEDEN TANGANYIKA THAILAND/SIAM UNITED STATES URUGUAY

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405-406 407-408 243-251 409-410 22 252-258 259-260 644-674 411 299-302 23 412 56-57 55 675 676 677-681 261-262 413 414-432 25 433-438 684-739 263-265 26-27 28 29-40 439-458 459-461 41 266-272 739-805 682-683

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THEMATIC INDEX pre 19th Century

315, 333, 459, 462-468, 475-476, 537-542, 638

Advertising

352

Agriculture

13-17, 25-27, 46, 49-50, 331, 417-418, 426, 645

Armament/Guns

183, 282, 323-324

Banking

30-31, 202-206, 220-223, 240-241, 258, 283-286, 319, 321, 395-400, 402, 412, 416, 438, 525, 527-528, 531-532, 534, 536, 610, 614, 641, 665-669, 676, 781-782, 789

Books Breweries/Wineries Bridges Building Buses Canals & Irrigation Casinos Chemicals Cinema City Loans Coal Docks & Wharves

420

350

255, 310-313, 517, 520, 576-577

Property

201 34, 214, 549, 559, 571, 636, 637, 676, 797

Publishing

568

Radio

572 44-45, 56, 75-77, 81-83, 93-110, 118, 144-147, 160-163, 173-175, 238, 244, 261-262, 276-277, 304-307, 335-338, 422-423, 445, 485-500, 584-586, 600, 602, 607, 619-628, 643-644, 661-663, 680, 718-728, 768-776

Shipbuilding

533, 535, 611, 614, 733

Shipping

444 246, 279-281, 401, 407-408, 455, 502

34, 322, 346, 367, 406, 428, 558, 575

Sport

454, 557, 683

454

Sugar

298, 629-635

Theatre

371, 570, 787

62-200, 252-256, 266-275, 303-304, 328-330, 332, 373-375, 381-394, 402, 411, 414-415, 434-437, 441, 459-460, 470-474, 573-574, 581-599, 603, 606-618, 639-940, 642-643, 646-660, 664, 675, 677, 688-704, 740-767

Housing

215-217, 230-233 351

566

Government

Hotels

365

Printing

Railways

349, 355, 359, 427, 430-431, 452, 565-566, 642

379, 545-546, 548

Horses

363 730, 737

Public Utilities

314, 508

562-563

314, 341, 345, 372, 377, 403, 507, 509-515

Power

460, 472, 474, 597-599, 682, 705-717

Film

Gramophones

18, 23, 32-33, 35-41, 207, 237, 263-264, 288-292, 294-297, 299-302, 353, 450, 456-457, 555, 578-579, 604, 670-671, 674, 678-679, 681, 738, 784, 788, 790, 795, 798, 802-803

Photography

251, 342

777-780

Gas

Mining

Oil/Petroleum

48, 447

Express Companies

Football

316-317, 452

Newspapers

42-43, 333-334, 448, 461, 475-484

14-15

Food & Drink

Leisure

Motor cars

503-506

Elephants

Finance

228-229, 247, 293, 560, 673, 739, 791-792, 799-801

Miscellaneous Lots 1-8, 19, 54, 243, 249, 371, 380, 433, 439-440, 551-555, 684-687, 785

473, 516, 518-519, 521-522

55, 236

Exhibitions

239, 325-326, 421, 424, 463-465, 523-524, 526, 528-530, 537-544, 729

9-12, 287

Electricity Entertainment

Insurance

34, 308, 327, 556

279, 401, 564

Cycles

248, 250, 309, 331, 360-361, 364, 366, 404, 413, 428-429, 449, 451, 453, 458, 551-554, 567, 578, 645, 736

Land

783, 794

Aviation

Industrial

Tobacco & Matches Trade Tramways Tunnels Turnpikes

339-340, 572

Water

804-805

Wine

218-219, 343-344, 362, 368

Yachting

432 3

735

28, 265, 315, 378, 401, 466, 469, 605, 638 209-210, 278, 409-410, 501 485, 518-519, 786 793 234-235, 448, 545, 547, 550, 601 53, 354 57

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November 29, 2012 - LoNdoN

THURSDAY 29 NOVEMBER 2012 Commencing at 10.00 a.m.

All Sales are subject to the Terms and Conditions for Buyers 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.

COLLECTIONS AND MIXED LOTS 2 A group of worldwide bonds and share certificates, including La Lulonga, dividend share, 1898, attractive vignette of African river scene and foliage, this about very fine, several other Belgian Congo and a few Russian pieces, mixed condition but many fine and very fine. (32) £80-100

1 Three British Colonial certificates, comprising Mauritius Gas Co. Ltd., 188[4], no.235, black on grey paper; Seychelles Produce Co. Ltd., 2 shilling shares, [1925], no.23, ornate border, brown, and, British Guiana Gold Concessions Co. Ltd., 100 shares of $5, 19[08], arms at top, red and black, incorporated in Maine, very fine or better and a scarce lot. (3) £60-80

3 A small group of South American certificates (10), comprising La Mexicana, 5 shares of £10, 1888, large and beautiful certificate with eagle in centre flanked by allegorical female and miners working underground, blue; Costa Rica Railway, second debenture for £100, 1889, 2 examples; Brazil Railway Company, 41⁄ 2 % Gold bond for 500 francs, 1910, steam train, brown; South Brazilian Railways Co. Ltd., 5% debenture for £20, 1911, large format piece with vignettes in each corner; Panama Canal, 500 franc shares, 1880, 2 examples and 1000 franc NEW bond, 1888, brown, this lacking coupons, and Negociacion Minera de San Rafael y Anexas S.A., 5 shares and 10 shares, Mexico 1923, generally very fine. (10) £80-100 5

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boNds aNd share CertifiCates of the WorLd 4 A rather miscellaneous selection of certificates, comprising Chinese Engineering and Mining Co. Ltd., 5 shares of £1, 19[30], capital £2,000,000, printed by Waterlow & Sons; Boston & Worcester Rail-Road Corporation, $1 shares, 186[7], huge vignette of of goods sheds; Troy & Lansingburgh Railroad Company, First Mortgage bond for $1000, 1868, small horse drawn tramcar; Ottoman Company, £20 share, 1865, lovely vignette of arab smoking a long pipe with camel behind, and, an unissued 500 franc share of the Banque Industrielle de Chine, 1920, very fine to extremely fine. (5) £100-120 5 A collection of mostly French and French Colonial certificates (145), 1880’s to 1930’s with some duplication, a few with vignettes, mixed condition but most are very fine to extremely fine. (145) £150-200

7 A miscellaneous accumulation of bonds and share certificates of the world, including Shell Transport and Trading Co. Ltd., bearer warrant for £5 stock, 1937, vignettes of oil tanker oil wells and storage tanks, serial number cut out; Groupement National de la Baie du Mont-Saint-Michel, 100 francs, 1926, lovely vignettes of the church and architectural borders; Chemins de Fer Ethiopiens, 100 franc share, 1899, huge vignette of the King with his entourage waiting for an oncoming steam train; Banco Constructor de la Plata, 100 pesos share, Buenos Aires 1891; Le Nouveau Monde (Gold Mines in California), 5 shares of 25 francs, 1851 (3 examples); Duval Restaurants for London Ltd., specimen certificate for £10 shares, 189-, allegorical figures at top; Mid Continent (Oklahoma) Oil Co. Ltd., 1913 (4 examples); Peruvian Corporation Ltd., specimen £50 debenture, 1930, coat of arms at top, and, a quantity of City of Berlin bonds, various issues and denominations between 1912 and 1919 (114 examples), others (35), generally very fine and better.

(162) £300-400 x8 A very useful lot of worldwide certificates, mainly from France, Belgium, Netherlands, Spain and Portugal including many pieces with vignettes and decorative borders, of particular note are Scheldebank, 2 founders shares, 1923, very large and attractive pieces, blue; Cia. General de Tabacos de Filipinas, founders share, 1882; Chemins de Fer Ethiopiens, 1899, fabulous large vignette of the King waiting for an oncoming train; Carregadores Acoreanos Cia de Navegacao, 100 reis share, 1920, 2 examples of this multicoloured piece with shipping at dockside, one of which has been trimmed; Naviera Hispano Oriental, 500 pesta share, 1920, steamship at top; L’Hippodrome, preference share, 1898; Compagnie Maritime de la Seine, founders shares, 1899, 2 examples of this well known but very attractive piece, and Compagnie des Tramways Electriques de L’Ariege, 100 franc share, 1908, mostly very fine and better. (128) £300-400

6 A miscellaneous collection/accumulation of bonds and share certificates, including Roumania, £500 bond, 1922; Kingdom of Roumania Monopolies Institutue, $1000, 1929; Chemins de Fer du Sud de L’Espagne, 4 different, 1889 to 1910; Chemin de Fer de Madrid a Saragosse et a Alicante, 1859; Canal del Principe de Asturias, 1866; Sociedad Minera Esperanza de Santa Ana, 1846; Brazil, State of Amazonas, 500 franc gold bond, 1906; Akrokeri (Ashanti) Mines Ltd., 1905; Companhia de Cabinda, Lisbon 1918, generally fine to very fine. (47) £200-250 WWW.spiNK.Com

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LITERATURE

ANGOLA

9 The Stock Exchange Year-Book 1912, by Thomas Skinner, LII + 2098pp + L plus adverts, original embossed cloth covered boards, gilt lettering, a little rubbed, small split on spine, otherwise in good condition £100-120 The standard guide to issues and companies floated on the London Stock Exchange.

10 The Stock Exchange Year-Book 1919, by Thomas Skinner, LIV + 2096pp plus adverts, original embossed cloth covered boards, gilt lettering, a little rubbed, good condition £60-80 11 The Stock Exchange Official Intelligence 1928, Vol. XLVI, edited by the Secretary of the Share & Loan Department of the Stock Exchange, CLX + 2082pp plus adverts, black cloth covers, gilt lettering, contents mounted on front, some discolouration on covers, small tear on back cover side, otherwise good condition £60-80 12 The Stock Exchange Official Intelligence 1936, Vol. XLVI, by Thomas Skinner, CCXX + 3488pp plus adverts, black cloth covers, gilt lettering, contents mounted on front, sides include tabs denoting various sections, small sections of the back cover damaged, some surface dirt and ink marks on front, fair condition £60-80

x14 Companhia de Angola, 50 franc share, SchaerbeekBruxelles 1899, no.714, bull elephant emerging from forest at left, wagon train at top, blue with pink underprint, with coupons, single centre crease, very fine to extremely fine. £80-100

AFRICA

15 Companhia de Angola, 50 franc share, SchaerbeekBruxelles 1899, no.1385, bull elephant emerging from forest at left, wagon train at top, blue with pink underprint, with coupons, good very fine. £80-100

ALGERIA

13 Société Agricole Commerciale S.A., 100 franc share, Paris [1907], no.948, of only 1256 issued, attractive piece with Moorish style border and vignettes at either side of shepherd with sheep and camel and North African town scene, green and red, with coupons, about extremely fine. £100-120 7

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BELGIAN CONGO

16 Soc. de Plantations & d’Elevage du Kivu, 500 franc share, Antwerp 1927, no.4826, very attractive piece with natives picking crops and driving oxen, brown and black, with coupons, extremely fine. £60-80

x18 Union Miniere Haut-Katanga, Soc. Congolaise, 6% Sterling Bonds, 1928, a specimen £500 bond from the Bradbury, Wilkinson & Co. archives, large format, ornate border, blue and black, red circular Bradbury specimen stamp, about extremely fine. £60-80

x17 Société Equatoriale Congolaise (Ikelemba), a tenth of a preference share of 500 francs, Anvers 1900, no.2409, attractive piece with native hut, river boat and palm trees, blue and red with yellow underprint, with coupons, extremely fine. £60-80

x19 Belgian Congo, Societe Africaine de Traitement de Distillation & de Recherches de Combustibles “Traidiscom”, a group of 46 shares for 250 francs, 1927, ornate border, river vignette at bottom centre, dark blue on light blue, Compagnie Du Lubilash, a group of 101 ‘Part Sociale’ shares, 1944, rising sun at top centre with imagery of trade and agriculture, star at centre, red on orange underprint, Societe Des Mines D’Or De Kilo-Moto, a group 39 ‘Part Beneficiaire’ shares, 1944, ornate border, river village scene at top, red on orange underprint, Societe Des Mines D’Or De Kilo-Moto, 1 ‘Titre de Cinq Part Beneficiares’ share, 1944, ornate border, river village scene at top, brown on yellow underprint, generally extremely fine to about uncirculated. (187) £150-200

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IVORY COAST

x20 Les Produits de Mayombe S.A., 100 franc share, 1899, no.6075, very striking design of natives, narrow gauge railway, native weapons and encampment, blue, yellow underprint, good very fine. £40-50

22 Baoule (Ivory Coast) Consolidated Mines Ltd., a set of 4 specimen certificates for 1, 5, 10 and 25 shares of £1 or 25 francs, undated but circa 1910, from the Bradbury, Wilkinson & Co. archive, ornate borders, brown, red, blue and green respectively, text in French and English, small hole cancels over signature area, with coupons, very minor water lines otherwise about extremely fine. (4) £80-100

NIGERIA 23 Nigeria: A small starter collection of mostly tin mining certificates, comprising Abu Tin Co. Ltd., 1913; Anglo-Nigerian Tin Mines Ltd., 1927; Benue (Northern Nigeria) Tin Mines Ltd., 1915; Berrida (Nigeria) Tin Fields Ltd., 1919; Central Lafon Tinfields of Nigeria Ltd., 1912; Juga Valley Tin Areas Ltd., 1927; Kuskie (Nigeria) Tin Fields Ltd., 1919; Limoro Tin (Nigeria) Ltd., 1916; Nigeria Bitumen Corp. Ltd., 1913; Nigerian and Waterberg Tin Fields Trust Ltd., 1912; Nigerian Tin Corporation Ltd., 1922; Rafinpa (Nigeria) Tin Co. Ltd., 1912; Tin Areas of Nigeria Ltd., 1920 (2 types), generally fine to very fine and a useful starter collection (14). £120-150

x21 L’Ikelemba S.A., a group of certificates for 100 franc shares, 1898 (3) and dividend shares, 1898 (2), very attractive designs of natives, coat of arms, steam train and paddle steamer, brown and brown & green respectively, with coupons, extremely fine. (5) £120-150

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PORTUGUESE GUINEA (GUINEA BISSAU) x24 Companhia da Guiné, 100 escudos share, Porto 1919, no. 441, large format piece with huge architectural design including a dragon, Neptune and a sailing ship, blue, with coupons, light discolouration, almost extremely fine £60-80

REUNION

24 x25 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. £120-150

SENEGAL x26 S.A. Agricole de Sébikhotane (Sénégal), 50 franc ordinary share, Schaerbeek-Bruxelles 1899, no.2496, very attractive piece with farmhouse, cattle, horses and workers at bottom, steam ploughs at top, green and yellow, with coupons, extremely fine. £100-120 27 S.A. Agricole de Sébikhotane (Sénégal), 50 franc ordinary share, Schaerbeek-Bruxelles 1899, no.2435, very attractive piece with farmhouse, cattle, horses and workers at bottom, steam ploughs at top, green and yellow, with coupons, extremely fine. £100-120 26

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SIERRA LEONE

x28 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, very fine to extremely fine. £80-100

x30 Cape Commercial Bank, £12 share, [1854], no.1893, ornate border, black on grey paper, spike holes in left margin and bottom left corner missing just touching the border, some foxing, fine to very fine. £60-80 Established in 1854 and failed in 1882.

SOUTH AFRICA x29 Malmesbury Steam Transport Co. Ltd., £10 share, 187[1], no.206, black, printed in Malmesbury, tear at right but very fine and scarce; together with other South African certificates, Bot River Motor Transport & Trading Co. Ltd., 192[47]; Deer Park Ltd., £1 shares, 19[02], and other countries (14), many very fine, a few are laminated. (17) £60-80

x31 The Union Bank, £5 shares, Cape Town 18[88], no.181, ornate border, black, adhesive revenue stamps on reverse, tiny spot marks at bottom left, very fine. £60-80 Established in Cape Town in 1847. Failed in 1890.

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32 Cape of Good Hope Diamond Mining Co. Ltd., bearer warrant for 1 share of £5, 1881, no.175, vignette of miners, ornate border, printed by Blades, East & Blades, black, attractive embossed seal, with coupons, good very fine. £60-80

35 Kimberley Imperial Gold Mining Company Ltd., £1 shares, Kimberley 188[6], no.A573, signed by Alfred Beit as director and issued to Samuel Marks but signed by his partner Isaac Lewis on his behalf on the reverse, ornate border, blue, good very fine and a key signature. £80-100 Floated in September 1886, owned 60 claims, about 40 miles east of Barberton.

Alfred Beit (1853-1906), A founder of the modern diamond industry along with his friend Cecil Rhodes.

Life Governor of De Beers. Later opening up the Rand with the great Chartered Company.

x33 Central South African Lands and Mines Ltd., £1 shares, 19[03], no.570, signed by Bernard Oppenheimer as director, ornate border, black, triangular cut cancel at left and glue residue at left edge, stamped cancelled, very fine. £60-80

36 Kimberley Imperial Gold Mining Company Ltd., £1 shares, Kimberley 188[6], no.A574, signed by Alfred Beit as director and issued to Samuel Marks but signed by his partner Isaac Lewis on his behalf on the reverse, ornate border, blue, good very fine and a key signature. £80-100

Bernard Oppenheimer was one of six brothers, including Ernest, who were to become so powerful in the diamond industry. x34 City Steam Laundry Co. Ltd., £5 shares, Cape Town 18[78], black; English Brewery Co. Ltd., £3 share, 1861, no.374, black, and, Cape of Good Hope Food Supply Association Ltd., 1 share, 188[2], no.315, black, the first and last are laminated, the second slightly trimmed and toned, fine to very fine. (3) £60-80

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November 29, 2012 - LoNdoN 40 South Africa: A small group of mostly mining certificates comprising; Alpine Gold Mining Co. Ltd., 188[6], 2 examples; Revolver Consolidated Reef Gold Mining Co. Ltd., 188[8], 3 examples; Consort Consolidated Mines Ltd., 189[5]; New Heidelberg Roodepoort Gold Mining Co. Ltd., 18[96], 3 examples; Mlyneux Mines Consolidated Ltd., 189[6]; Baobab Concessions Ltd., 19[19], and Orange River estates Co. Ltd., 1[902], 2 examples, very fine and better. (13) £150-180

TANGANYIKA

37 South African Diamond Mines: A group of four certificates, comprising, Bultfontein Diamond Mines Ltd., £1 shares, Kimberley 18[96], no.783, ornate border, black, green underprint, Cape adhesive revenue stamp; Leicester Consolidated Diamond Mines Ltd., £1 shares, London 189[8], no.636, blue, blue underprint; Old Chums Diamond Co. Ltd., £1 ordinary shares, Cape Town 191[1], blue, and, Old Chums Diamond Co. (1911) Ltd., £1 ordinary shares, Cape Town 191[1], red-brown, near very fine to good very fine. (4) £80-100 x38 Twyfelhoek Diamond Mining Syndicate Ltd., £25 shares, Cape Town [1902], brown, adhesive duty stamps; together with other South African and Rhodesian mining certificates (7), comprising Cape Town and Knysna Gold Mining and Agency Co. Ltd., 18[87]; Louriesfontein Syndicate Ltd., 189[5]; Willows Copper (Argentiferous) Syndicate Ltd., 18[89]; Koloniale Brandewijn Maatschappij, [1890]; Worcester Exploration & Gold Mining Co. Ltd., 19[12]; Rhodesia Mines Ltd., 19[12], and Aliwal North Radio Springs Ltd., 19[31], all local registrations, generally fine to very fine. (8) £120-150 39 United Langlaagte Gold Mining Co. Ltd., an interesting range of certificates dating from 1889 to 1896 (6) including 4 different designs, two of which are represented by both issued and unissued examples, together with St.Augustine’s Diamond Mine Ltd., £500 royalty certificate, 188[5], black, two pieces are cancelled, a little surface dirt, fine to very fine. (7) £60-80

41 Tanganyika Goldfields Limited, a fine set of bearer warrants for 1, 5, 10, 25, 50 and 100 shares of 5 shillings, London, 19-, circa 1920, all unissued, possibly specimens, ornate borders, red, mauve, brown, green, blue and orange respectively, text in English and French, with full coupon sheets, tiny hole cancels over number boxes and signature areas, very fine to about extremely fine. (6) £80-100

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EGYPT, OTTOMAN EMPIRE AND THE MIDDLE EAST EGYPT

42 Compagnie Universelle du Canal Maritime de Suez, a certificate for 250 franc share to bearer, created in June 1924, no.542,439, vignettes of the canal guarded by Sphinx and flanked by Egyptian architectural columns, shades of green, with coupons, about extremely fine. £1,000-1,200 The French company was formed in 1858 acquiring the concessions for building the canal given earlier to Ferdinand de Lesseps. Opened to shipping in 1869.

Egypt’s shares of some £4 million were acquired by the British Government in 1875 to allow Egypt to settle some of it’s foreign debt but the French still held the majority.

The Canal became a neutral zone in 1888 under British military control which lasted until 1954 when Britain agreed to remove its troops. This was achieved in 1956 and Egypt immediately nationalised the canal which provoked the ‘Suez Crisis’. All shares were transferred to the Suez Canal Authority. Certificates of any date are very scarce.

43 Societe Civile Pour le Recouvrement des 15% des Produits Nets de la Compagnie Universelle du Canal Maritime de Suez, certificate for one fifth part, Paris 1930, no.381,450, attractive panoramic vignette at bottom of shipping, architectural borders with Sphinx and Phoenix, black with yellow-buff underprint, with coupons, good very fine and scarce. £350-400 44 Egyptian Delta Light Railways Ltd., a group of certificates comprising; Capital £530,000, 1 preference share, 18[99], blue; Capital £854,370, 1 preference share, 19[01]-[04], blue, 4 examples; 5 preference shares, 19[01]-[04], red, 4 examples; 1 deferred share, 19[01]-[04], brown, 22 examples; Capital £965,400, 1 preference share, 1904, blue, 12 examples; 5 preference shares, 1904, red, 2 examples; Capital £1,360,000, 1 preference share, 19[38]-[48], blue, 33 examples, and, 5 preference shares, 190[6][07], red, 7 examples, 19[20’s], red, 2 examples, all with ornate borders, printed by Bradbury, Wilkinson & Co., all with coupons, many are very fine and better.

(87) £200-300

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46 Crédit Hypothécaire Agricole d’Egypte, a specimen 31⁄ 2 % Mortgage bond, £E50, 1936, 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. £60-80

x45 Fayoum Light Railways Company, 4% debenture for £20, Cairo 1899, steam train at bottom, ornate borders, green, with coupons, 3 examples, all very fine to extremely fine; together with other Egyptian certificates (9) including Soc. Misr pour le Transport et la Navigation, 1 share of E£10, 1925, very attractive multicoloured piece with early sailing ship and modern steamship at top, with coupons, this about extremely fine, the rest generally very fine. (12) £100-120

47 Egyptian Markets Ltd., a specimen £100 debenture, 1906, from the Bradbury, Wilkinson & Co. archive, numbered 251-500, Sphinx and palm trees at top centre, ornate border, brown and black, with coupons, mounting traces on reverse top edge, extremely fine. £70-90

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48 Marsa Matrouh Salt & Potash Co., 1 share of E£4, no. 00129, Alexandria [1947], large format piece with full width contour map of salt lakes, text in French and Arabic, red and blue, with coupons, almost extremely fine. £50-60

x49 Société Anonyme du Béhéra (Agricultural and Irrigation Company), one share of £E5, 1899, no.01988, oxen with pyramids in background at left, dredging river at right, red and black, text in French, Arabic and English, with coupon, several endorsements on face, good very fine. £60-80

x50 Société Anonyme du Béhéra (Agricultural and Irrigation Company), ten shares of £E5, 1899, no.45431-45440, oxen with pyramids in background at left, dredging river at right, blue and black, text in French, Arabic and English, with coupon, several endorsements on face, good very fine. £60-80

x51 Societe Fonciere du Domaine de Cheikh Fadl, a series of certificates comprising 1 share of £4, 1938 (14), 1945 (1), 5 shares of £4, 1938 (10), large format with agricultural scenes and workers with camel, green and yellow respectively, with coupons, mostly perforated cancelled, generally very fine and better.

(25) £80-100

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November 29, 2012 - LoNdoN 54 An accumulation of Egyptian certificates, comprising; Société Foncière & Agricole de la Basse Egypte, 500 franc shares, Paris 1878, 2 examples; S.A. Agricle et Industrielle d’Egypte, 500 franc share, Paris 1897; Credit Foncier Egyptien, 3% bond for 500 francs, 1905; Egyptian Consolidated Lands Ltd., 100 shares of 5/-, 1920’s, 4 examples; General Chemical Industries Co., 25 shares, Cairo 1946, 3 examples; Dehydration Company of Egypt, 5 shares, Cairo 1947, 1 example; Incorporated Industries, 5 shares, Cairo 1947, 4 examples, and National Bottling Company of Egypt, 1 share, Cairo 1951, 4 examples, the later pieces generally of very large format, mixed condition, a few with edge damage, several very fine and better. (20) £80-100

PALESTINE

52 Société Générale de Pressage et de Dépots, pair of certificates for 5 and 25 shares of E£2 each, Alexandria 1957, large format pieces with extremely decorative borders of steam train, pyramids, busy dockside and factories, black with blue and green underprints respectively, with coupons, 2 folds otherwise extremely fine. (2) £60-80

55 Palestine Electric Corporation Ltd., a pair of specimen certificates from the Bradbury, Wilkinson & Co. archive, comprising ordinary stock certificate and 41⁄ 2 % second redeemable cumulative preference share certificate, 19 (circa 1935), large format pieces with ornate borders, text in Arabic, English and Hebrew, mauve and black & red and black, with counterfoils, red SPECIMEN stamps across face, both with small nick bottom right, the last also with small piece missing from bottom right corner, extremely fine. (2) £100-120 x53 Societe Viticole et Vinicole d’Egypte, a series of certificates for 1 share, 1938 (14), 5 shares, 1938 (14), 1950 (1), 10 shares, 1950 (6) and 25 shares, 1938 (12), large format with large vignettes of various stages of wine making and vine cultivation, green, brown, blue and mauve respectively, with coupons, mostly very fine and better. (47) £200-300

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TURKEY (OTTOMAN EMPIRE)

ASIA CHINA 58 A small collection of Chinese bonds, comprising 1913 5% Reorganisation Gold Loan, £20 bond issued by the Russo-Asiatic Bank, brown; 1908 TientsinPukow Railway, £100, issued by Chinese Central Railways; 1925 Skoda Loan, £10; 1903 5% Gold Loan, 500 francs, dated 1905, and, 1913 Lung Tsing U Hai Railway, 5% Gold Loan, £20, unissued reserve stock, very fine and better. (5) £200-250

56 Ottoman Railway from Smyrna to Aidin, 6% Cumulative Preference Share of £20, 1905, no. 1093, ornate guilloche border, steam train vignette at top centre, crescent moon and star underprint at bottom centre, red and black on yellow underprint, printed by Waterlow & Sons, double mounted, framed and glazed with ornate gilt frame, but looks extremely fine. £100-200

x59 A small group of Chinese bonds (4), comprising Province of Petchili, 51⁄ 2 % Loan, 1913, bond for £20; 1898 41⁄ 2 % Gold Loan, £100 bond, English issue, and, Hukuang Railways, 5% Loan, £20 and £100 bonds, issued by the Banque de L’Indo-Chine, the first with some damage to bottom edge with slight paper loss in centre, the second stained, fine to very fine. (4) £200-250 60 A useful collection of Chinese bonds, comprising Canton Kowloon Railway, 1907; 1896 Gold Loan, £25 and £50, cancelled; Shanghai Nanking Railway, £100, 1904 and 1907; Tientsin Pukow Railway, 1908 £20, German and 1910, £100, English; 1913 Lung Tsing U Hai Railway, £20, issued and unissued; 1914 Industrial Loan, 500 francs; 1919 Vickers Loan, £100; Lung Tsing U Hai Railway, 1920, 500 francs, issued and unissued; 1921, 500 francs, issued and unissued, 1923, 500 francs, issued and unissued, 1925, 500 francs; 1922 Railway Equipment Loan, £20, issued and unissued; 1925 Skoda Loan, £5, and, 1925 Boxer Loan, $50, mixed condition, fine to very fine, some better especially the reserve stocks. (22) £300-400 61 A useful group of Chinese bonds comprising; Hukuang £100, American banks (2), £20, French issue (2); Shanghai Nanking Railway, dated 1907 (3) and Net-Profit Sub certificate; Canton Kowloon, £100; Tientsin Pukow Railway, 1908, £20 and £100 (2), German issue, and 1910, £100, English issue; 1912 Gold Loan, £20 and £100; Honan Railway, £100 (3), and 1913 Lung Tsing U Hai Railway, £20 bonds (7), generally fine to very fine. (25) £500-600

57 Prinkipo Yacht Club Co. Ltd., 5% debenture for £5, 1910, no.1776, large format piece, attractively printed in red, green and black, text in English and French, 4 pages, good very fine. £60-80 WWW.spiNK.Com

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62 1895 4% Gold Loan, bond for 500 francs, no.038377, issued in St.Petersburg, ornate border, brown, black and yellow, red ‘chop’, no coupons remain, 5 large cancellation holes as normal, small ink stains, good fine. £350-400

64 1898, 41⁄ 2 % Gold Loan, £25 bond, no.000508, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate border, red and black, red chop in centre, with coupons, couple of small nicks at left edge otherwise good very fine. £300-400

63 1895 4% Gold Loan, bond for 500 francs, no.210055, issued in St.Petersburg, ornate border, brown, black and yellow, red ‘chop’, with 1 coupon, 5 large cancellation holes as normal, remains of small tape repairs at top edge, good fine. £350-400

65 Chinese Imperial Government, 1898 41⁄ 2 % Gold Loan, bond for £50, no.000540, issued by the Hongkong and Shanghai Banking Corporation, very large format, ornate borders, orange and black, text in English and German, with coupons, tiny piece missing from top right edge and a couple of edge tears otherwise about very fine and a pleasing example. £200-250 19

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boNds aNd share CertifiCates of the WorLd 68 1898, 41⁄ 2 % Gold Loan, a small group of bonds comprising £100, Hongkong and Shanghai Banking Corporation, £25 (2), £50 and £100, DeutschAsiatische Bank, large format bonds with ornate borders, brown, red, orange and brown respectively, red chops in centre, with coupons, very fine and better, above average condition lot. (5) £150-200

66 1898, 41⁄ 2 % Gold Loan, £50 bond, no.000918, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate border, orange and black, red chop in centre, with coupons, couple of repaired tears at left edge, very fine and better than average for this issue. £300-400

69 1898, 41⁄ 2 % Gold Loan, £500 bond, no.000999, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate border, mauve and black, red chop in centre, with coupons, small piece missing from left edge not affecting the design, old repair at top edge, otherwise about very fine and better than average. £400-500

67 1898, 41⁄ 2 % Gold Loan, £50 bond, no.000919, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate border, orange and black, red chop in centre, with coupons, couple of repaired tears at left edge but generally in better than average condition, very fine. £300-400 WWW.spiNK.Com

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70 Chinese Imperial Government, 1898, 41⁄ 2 % Gold Loan, bond for £500, no.D1104, issued by the Hongkong and Shanghai Banking Corporation, large format piece with ornate borders, mauve and black, text in English and German, with coupons, with red ‘drawn’ sticker at top left, well circulated with heavy centre fold, tear to left and right, split in centre, ragged bottom edge. £300-400

72 1898, 41⁄ 2 % Gold Loan, unissued £50 bond from the reserve stock, issued by the Deutsch-Asiatische Bank, large format, ornate border, orange and black, not numbered, no red chop in centre, with all coupons, extremely fine and scarce £400-500 73 1898 41⁄ 2 % Gold Loan, a group of 20 bonds for £50, issued by the Deutsch-Asiatische Bank, large format, orange and black, text in German and English, with coupons, mixed condition, a few with edge tears but several are very fine and better. (20) £400-500 74 1898 41⁄ 2 % Gold Loan, a group of 32 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, brown and black, text in German and English, with coupons, a generally good condition batch with many very fine. (32) £800-1,000

71 1898, 41⁄ 2 % Gold Loan, unissued £25 bond from the reserve stock, issued by the Deutsch-Asiatische Bank, large format, ornate border, red and black, not numbered, no red chop in centre, with all coupons, extremely fine and scarce £400-500 21

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boNds aNd share CertifiCates of the WorLd x77 1899 5% Chinese Imperial Railway Gold Loan, bond for £100, no.10815, large format piece, brown with pale blue underprint, with coupons, some edge splits especially at the right edge, some paper loss at lower right into the border design; together with 1908, 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine, walled city at top, green and black, no coupons as usual, very fine, and Tientsin-Pukow Railway, 5% Loan, 1908, issued by Chinese Central Railways, £50 paid, orange and black, with coupons, ink marks at right, spike holes to left, fine to very fine. (3) £150-200

75 Chinese Imperial Railway 5% Gold Loan, 1899, bond for £100, no.07476, very large format piece with ornate border, text all in English, brown with pale blue underprint, lacking coupons, creased, fine to very fine. £120-140 x76 1899 Chinese Imperial Railway 5% Gold Loan, £100 bond, no.13207, large format, ornate border, brown with pale blue underprint, red ‘chop’ in centre, with coupons, light stain at top left otherwise very fine for issue. £150-180

78 ‘Emprunt Chinois’ 5% Gold Loan 1903, a trio of bonds for 500 francs, dated 1905 (two examples, one with Spanish duty stamps and endorsements), and dated 1907, ornate borders, red and black with buff underprint, with coupons, the 1907 one of the best the cataloguer has seen, good extremely fine, the others fine and very fine respectively. (3) £60-80

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November 29, 2012 - LoNdoN 81 1903 Shanghai Nanking Railway 5% Gold Loan, a group of 12 bonds, all 1904 issue, large format, ornate border, pink and black, with coupons, a couple with tape repairs but otherwise very fine. (12) £200-250 82 Shanghai-Nanking Railway 5% Gold Loan, pair of bonds for £100, dated 1904 and 1907, large format, black and pink, with coupons, together with a set of 5 net profit sub-certificates also dated 1904, issued by the British & Chinese Corporation and bearing the facsimile signature of William Keswick as director, black, the second piece is particularly nice condition otherwise fine to good very fine. (7) £60-80

79 ‘Emprunt Chinois’ 5% Gold Loan 1903, an unissued bond for 500 francs, dated 1905, from the reserve stock, ornate borders, red and black with buff underprint, with two coupons and counterfoil, extremely fine and Kuhlmann only records 8 examples. £400-500

83 1905 Honan Railway 5% Gold Loan, pair of bonds for £100, first issue, no.4283 and second issue dated 1906, no.7846, large format, ornate border, bluegreen and black with yellow underprint, both with coupons, very fine and nearly so. (2) £120-150 80 ‘Emprunt Chinois’ 5% Gold Loan 1903, an unissued bond for 500 francs, dated 1907, from the reserve stock, ornate borders, red and black with buff underprint, with two coupons and counterfoil, extremely fine and Kuhlmann only records 5 examples. £400-500 23

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84 1908 5% Gold Loan, bond for £20 issued by the Hongkong and Shanghai Banking Corporation in 1909, no.B024361, walled city of Peking at top, green and black, printed by Waterlow & Sons, no coupons remain as usual, top and left edges a little ragged with some minor paper loss at left edge, fine to about very fine and rare. £150-200 Only 250 noted as outstanding prior to the Foreign Compensation Commission payments so probably less than 100 available to collectors.

85 1908 5% Gold Loan, bond for £20 issued by the Hongkong and Shanghai Banking Corporation in 1909, no.B026854, walled city of Peking at top, green and black, printed by Waterlow & Sons, no coupons remain as usual, several tears with some paper loss at lower left side, fair, scarce and rare. £100-150

86 1908 5% Gold Loan, bond for £100 issued by the Hongkong and Shanghai Banking Corporation in 1909, no.A001716, 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. £150-200

87 Imperial Chinese Government, 5% Gold Loan, 1908, £100 bond issued by the Hongkong and Shanghai Banking Corporation, mauve, a few edge tears, fine to very fine; together with, Tientsin Pukow Railway, 5% Loan, 1910, £100 bond, English issue, green, with coupons plus a receipt for coupons, this about very fine. (2) £100-120

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November 29, 2012 - LoNdoN 92 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no.B055383, walled city of Peking at top, green and black, printed

by Waterlow & Sons, no coupons remain as usual, together with 4 other examples in rather poor condition, tiny tear at top edge, very fine to extremely fine, others poor. (5) £100-120

88 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no.B058813, walled city of Peking at top, green and black, printed

by Waterlow & Sons, no coupons remain as usual, very fine to extremely fine and scarce thus. £100-120 89 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no.B060388, walled city of Peking at top, green and black, printed

by Waterlow & Sons, no coupons remain as usual, couple of tiny edge nicks, good very fine. £80-100 93 Tientsin Pukow Railway, a collection of bonds comprising 1908, £100, English issue (2 examples, one with £50 paid), £20 and £100, German issue, and, 1910, £100 English issue and £20 and £100 German issue, 1938, £12 ‘anteilschein’ and two fractional scrip certificates, generally fine to very fine. (10) £240-280

90 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no.B104890, walled city of Peking at top, green and black, printed

by Waterlow & Sons, no coupons remain as usual, very fine to extremely fine and scarce thus. £100-120 91 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indochine in 1909, no.B048941, walled city of Peking at top, green and black, printed by Waterlow & Sons, no coupons remain as usual, a few surface marks, about very fine. £60-80

94 Tientsin-Pukow Railway 5% Loan, 1908, bond for £100, £50 part paid, English issues, large format, orange and black, with new coupons, together with; Shanghai-Nanking Railway 5% Gold Loan, £100 bond, 1904 issue, lacking coupons, both very fine or better. (2) £100-150

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boNds aNd share CertifiCates of the WorLd 95 1908 Tientsin Pukow Railway 5% Loan, a group of 24 bonds for £100, large format pieces with ornate borders, brown and black with green underprint, with coupons, generally fine to very fine. (24) £400-500 96 1908 Tientsin Pukow Railway 5% Loan, a group of 16 bonds for £100, large format pieces with ornate borders, brown and black with green underprint, with coupons, generally very fine and better. (16) £300-400

x98 1911 5% Hukuang Railways Sinking Fund Gold Loan, a group of 10 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, mixed condition, mostly fine to about very fine. (10) £400-500 x99 1911 5% Hukuang Railways Sinking Fund Gold Loan, a group of 6 bonds for £20, issued by the Banque de L’Indo-Chine, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, mixed condition, mostly fine to about very fine. (6) £120-150 100 Imperial Chinese Government, 5% Hukuang Railways Sinking Fund Gold Loan, 1911, a small group of bonds comprising £100 (3) and £20, issued

by Banque de L’Indo-Chine, and £100 and £20, issued by the Deutsch-Asiatische Bank, large format with steam train at top, £100’s are red and black, £20’s are green and black, printed by Waterlow & Sons, generally very fine. (6) £200-250 101 1911 5% Hukuang Railways Sinking Fund Gold Loan, a group of 33 bonds for £20, issued by the Deutsch-Asiatische Bank, large format pieces with steam train at top, green and black, printed by Waterlow & Sons, with coupons, mixed condition, mainly fine to very fine. (33) £600-800 x102 1911 5% Hukuang Railways Sinking Fund Gold Loan, a group of 4 bonds for £100 and 9 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, steam train at top, red and green, printed by Waterlow & Sons, with coupons, mixed condition, mostly fine to about very fine. (13) £350-450

97 Imperial Chinese Government, 5% Hukuang Railways Sinking Fund Gold Loan, 1911, a pair of bonds for £100 and £20, issued by the Hongkong and Shanghai Banking Company, large format with steam train at top, red and green respectively, printed by Waterlow & Sons, good very fine and better, the first with a couple of red ink marks in the bottom margin. (2) £80-100

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104 Imperial Chinese Government, 5% Hukuang Railways Sinking Fund Gold Loan, 1911, a pair of bonds for £100, issued by the American Banks headed

by J.P.Morgan & Co., large format with steam train at top, red and black, printed by Waterlow & Sons, the first with numerous American revenue stamps, with coupons, about extremely fine and very fine, the latter with ink stain at right. (2) £120-150

x103 Imperial Chinese Government 5% Hukuang Railways Sinking Fund Gold Loan of 1911, £20 bond, no.70018, issued by the American bankers consortium led by J.P.Morgan & Co., large format, steam train at top, green and black, printed by Waterlow, very fine and very rare. £1,500-1,800 Only 150 issued.

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105 1911 5% Imperial Railway Loan, bond for 100 yen, no. 000122, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, blue and black, pale yellow underprint, text in Chinese with English on the reverse, with coupons, old taped repair at left edge, fine. £150-180

106 1911 5% Imperial Railway Loan, bond for 500 yen, no. 001260, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, mauve and black, pale green underprint, text in Chinese with English on the reverse, with coupons, near extremely fine. £200-300 107 1911 5% Imperial Railway Loan, bond for 500 yen, no. 001351, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, mauve and black, pale green underprint, text in Chinese with English on the reverse, with coupons, near extremely fine. £200-300

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108 1911 5% Imperial Railway Loan, bond for 1000 yen, no. 002089, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, orange and black, pale blue underprint, text in Chinese with English on the reverse, with coupons, pinholes, good very fine. £250-300

110 1911 5% Imperial Railway Loan, bond for 5000 yen, no. 000394, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, green and black, pink underprint, text in Chinese with English on the reverse, with coupons, small piece missing from top left corner not affecting the design, very fine. £250-300

109 Imperial Chinese Government 5% Railway Loan, 1911, bond for 1000 yen, no.3964, ornate border, dragons at top, orange and black with pale blue underprint, with coupons, small ink stain in top margin, very fine. £200-250

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111 Republic of China, 1912 6% Treasury Bills, issued by the Deutsch-Asiatische Bank, bond for 1000 Shanghai Taels or 2745 marks, Lit B, no.077 (K. 269B), brown with yellow underprint, large red ‘chop’ in centre, good very fine and rare £1,000-1,200

113 Republic of China, 1912 6% Treasury Bills, issued by the Deutsch-Asiatische Bank, bond for 1000 Shanghai Taels or 2745 marks, Lit D, no.257 (K. 269D), brown with yellow underprint, large red ‘chop’ in centre, good very fine and rare £1,000-1,200

112 Republic of China, 1912 6% Treasury Bills, issued by the Deutsch-Asiatische Bank, bond for 1000 Shanghai Taels or 2745 marks, Lit C, no.168 (K. 269C), brown with yellow underprint, large red ‘chop’ in centre, good very fine and rare £1,000-1,200

114 Republic of China, 1912 6% Treasury Bills, issued by the Deutsch-Asiatische Bank, bond for 1000 Shanghai Taels or 2745 marks, Lit E, no.328 (K. 269E), brown with yellow underprint, large red ‘chop’ in centre, extremely fine and rare £1,000-1,200

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115 1912, 5% Gold ‘Crisp’ Loan, a group of 20 bonds for £100, ornate borders, turquoise and black, with coupons, mixed condition, fine to very fine. (20) £800-1,000

117 1912 5% Gold ‘Crisp’ Loan, bond for £500 no.1425, large format piece with ornate border, brown with pale blue underprint, with coupons, small piece missing from right edge not affecting the design, fine and scarce. £250-300

116 1912, 5% Gold ‘Crisp’ Loan, a group of 14 bonds for £100, ornate borders, turquoise and black, with coupons, mixed condition, fine to very fine. (14) £500-700

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118 1913, Shanghai-Nanking Railway, 6% Government Guaranteed Sterling Land Bonds, unissued bond for £1000 from the reserve stock, of only 10 pieces found in the archives of the Hongkong and Shanghai Banking Corporation, large format, red and black, with all coupons, uncirculated and rare. £800-1,000

119 Chinese Central Government, 1913 6% ‘Austrian’ Loan, £50 bond, no.2912, large format piece, mauve and black, red ‘chop’ in centre (Kuhlmann 310), with coupons, very fine and scarce thus. £1,500-1,800

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120 Chinese Central Government, 1913 6% ‘Austrian’ Loan, bond for £50, no.3535, large format piece with ornate border, mauve and black, red ‘chop’ in centre (Kuhlmann 314), no coupons remain, tiny chip from bottom edge, dirty surface, fine and rare. £1,200-1,400

121 Chinese Central Government, 1913 6% ‘Austrian’ Loan, bond for £100, no.10215, large format piece with ornate border, green and black, red ‘chop’ in centre, with coupons, heavy centre fold which has separated and been repaired sometime in the past, top edge a little ragged, fair to fine and scarce. £1,000-1,200

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boNds aNd share CertifiCates of the WorLd 124 1913 5% Reorganisation Gold Loan, bond for £20, issued by the Hongkong & Shanghai Banking Corporation, together with other Chinese bonds (5), comprising, 1912 Gold Loan, £20; Tientsin Pukow Railway, 1910, £100, German issue; 1898 Gold Loan, £100 English issue; Hukuang Railways, £20, German issue and 1922 Railway Equipment Loan, £20, generally very fine and better. (6) £200-250 125 1913 5% Reorganisation Gold Loan, a group of 4 bonds for £20, issued by the Hongkong and Shanghai Banking Corporation, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, tape missing at top, some creasing and foxing, fine to about very fine. (4) £450-550

122 Chinese Central Government, 1913 6% ‘Austrian’ Loan, £1000 bond, no.263 of 300 issued, large format piece, green and black, red ‘chop’ in centre, with coupons, very fine and extremely rare thus £2,000-2,500 Kuhlmann has confused these issues somewhat and refers to this issue under 1912 Arnhold Karberg Loans. x123 1913 5% Reorganisation Gold Loan, bond for £20, no.15224, issued by the Hongkong and Shanghai Banking Corporation, Mercury at top, peasants at left ancient building at right, brown and black, with coupons, together with 1911 Hukuang Railways 5% Gold Loan, £20 bond, issued by the Banque de l’Indo-Chine, green and black, extremely fine and very fine. (2) £140-180

x126 1913 5% Reorganisation Gold Loan, a group of 6 bonds for £20, issued by the Hongkong & Shanghai Banking Corporation, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (10) £600-700

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127 1913 5% Reorganisation Gold Loan, a duplicate, bond for £20, no. 749439, signed by the Hongkong & Shanghai Banking Corporation in 1926 (K 307DP), ‘Mercury’ at top, vignettes at each side, brown and black, with coupons, overprinted DUPLICATE, in top corners in red, extremely fine and rare £600-800

127A 1913 5% Reorganisation Gold Loan, bond for £100 issued by the Hongkong and Shanghai Banking Corporation, ‘Mercury’ at top, peasants and buildings at either side, blue and black, printed by Waterlow & Sons, with coupons, centre fold about extremely fine. £500-600 128 Chinese Government, 1913, 5% Reorganisation Gold Loan, bond for £20, issued by Banque de L’Indo-Chine; together with other Chinese bonds (9), Tientsin Pukow Railway, 1908, £100, English issue; Hukuang Railway, 1911, £20, French issue; 1912 5% Gold ‘Crisp’ Loan, £20 bonds (3); Banque Industrielle de Chine, 500 franc shares (3, 2 different types), and Compagnie Financiere Belgo-Chinoise, founders share, mixed condition, fine to very fine, some better. (10) £250-300

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boNds aNd share CertifiCates of the WorLd 131 1913 5% Reorganisation Gold Loan, a group of bonds comprising German issue £100 and £20 (5), French issue £20 (5) and English issue £20 (1), Mercury at top, peasants left, city view right, all with coupons, mixed condition, the 5 German £20 bonds with bottom right corner torn away, fine and better.

(12) £1,000-1,200

129 1913 5% Reorganisation Gold Loan, bond for £20 or 505 francs, issued by Banque de L’Indo-Chine, no.399538, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, a little toned and centre fold otherwise about extremely fine. £120-150 x130 1913 5% Reorganisation Gold Loan, a group of 7 bonds for £20, issued by the Banque de L’IndoChine, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (7) £700-800

x132 1913 5% Reorganisation Gold Loan, a group of 6 bonds for £100, issued by the Deutsch-Asiatische Bank, ‘Mercury’ at top, peasants and buildings at either side, blue and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (6) £2,500-3,000

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133 1913 5% Reorganisation Gold Loan, bond for £20 or 189.40 roubles, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, about extremely fine. £120-150

136 1913 5% Reorganisation Gold Loan, bond for £20 or 189.40 roubles, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, green and black, printed by Waterlow & Sons, with coupons, has been removed from a frame, about extremely fine. £100-120

134 1913 5% Reorganisation Gold Loan, two bonds for £20, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, extremely fine. (2) £250-300

137 1913 5% Reorganisation Gold Loan, a group of 3 bonds for £20, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, green and black, printed by Waterlow & Sons, with coupons, each with different revenue stamp combinations, generally extremely fine. (3) £300-400

x135 1913 5% Reorganisation Gold Loan, a group of 32 bonds for £20, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, brown and black, printed by Waterlow & Sons, with coupons, mixed condition but mostly very fine. (32) £3,500-4,000

138 1913 5% Reorganisation Gold Loan, a group of 5 bonds for £20, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, green and black, printed by Waterlow & Sons, with coupons, 2 have been cut into where coupons badly removed otherwise about extremely fine. (5) £500-600 x139 1913 5% Reorganisation Gold Loan, a group of 6 bonds for £20, issued by the Russo-Asiatic Bank, ‘Mercury’ at top, peasants and buildings at either side, green and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (6) £600-700 37

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140 1913 5% Reorganisation Gold Loan, a duplicate bond for £20, Russian issue, countersigned by the Hongkong & Shanghai Banking Corporation in 1926, ‘Mercury’ at top, vignettes at each side, green and black, with coupons, overprinted DUPLICATE, in top corners in red, extremely fine and rare £500-600

141 1913 5% Reorganisation Gold Loan, interimsschein for 409 marks, no.070078, ornate border, black, blue underprint, endorsements on face, hole cancelled, very fine. £80-100 142 Province of Petchili, 51⁄ 2 % Gold Loan, 1913, bond for £20, no.8489, very large format piece with vignette of Chinese shipping with mountains in background, brown and black, red ‘chop’ in centre, text in French and English, with coupons, good very fine. £100-120 143 Province of Petchili, 51⁄ 2 % Gold Loan, 1913, bond for £20, no.13478, very large format piece with Chinese shipping on river, ornate borders, text in English and French, with coupons, centre fold otherwise about extremely fine. £80-100

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144 1913 5% Gold Loan for the Lung Tsing U Hai Railway, a group of 11 unissued reserve stock bonds for £20, very large format, ornate border, blue and black, text in English and French, with all coupons, not numbered, extremely fine and better. (11) £150-200

146 1913 5% Gold Loan for the Lung Tsing U Hai Railway, a duplicate bond for £20, no.B034305, issued in exchange for damaged or lost bond, large format, blue and black, text in English and French, overprinted DUPLICATA in large red letters across face, with coupons, good very fine and rare. £250-300

145 1913 Lung Tsing U Hai Railway, 5% Gold Loan, a group of 12 unissued bonds from the reserve stock, large format, blue and black, text in English and French, with all coupons, with counterfoil, generally uncirculated or nearly so. (12) £150-200

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147 1914, 6% Shanghai-Fengching Railway Mortgage Redemption Loan, unissued bond for £1000, one of 20 pieces of the reserve stock found in the archives of the Hong Kong & Shanghai Banking Co., large format, green and black, yellow underprint, red ‘chop’ at bottom, with all coupons, extremely fine and rare £500-600 x148 1914 5% Industrial Loan, a group of 10 bonds for 500 francs, large format, vignettes of railway bridges and railway station, brown and black, yellow underprint, with coupons, a few have lightly trimmed edges, generally very fine. (10) £100-150

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151 1918, 8% Treasury ‘Marconi’ Bills, bond for £500, no.1522, of only 500 issued, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, a few edge nicks at top edge, 2 filing holes in upper left margin, very fine. £150-200

149 1914 5% Gold ‘Industrial’ Loan, unissued bond for 500 francs from the reserve stock, large format, vignettes of railways, station and bridge, brown, yellow underprint, with all coupons from 1934, not numbered, good extremely fine. £150-180

152 1918, 8% Treasury ‘Marconi’ Bills, bond for £1000, no.2028, of only 200 issued, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, extreme left edge a little ragged and a small tear at top otherwise a lovely example, very fine and rare. £300-400 153 Chinese Republic, 1918, 8% Treasury Bills (Marconi Loan), a set of £1000, no.2193, £500, no.1637 and £100, no.872, all with ornate border, red printing, yellow underprint, with coupons, only 200 £1000 bonds and 500 £500 bonds issued, a scarce set, damaged edges as is usual but not affecting the design, better than average fine for this scarce set. (3) £500-700

150 1918, 8% Treasury ‘Marconi’ Bills, bond for £100, no.000471, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, good very fine for issue with tiny ink spot in upper margin.

One of the best condition seen for some time. £80-100 41

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156 Chinese Government 8% 10-Year Sterling Treasury Notes, ‘Vickers’ Loan, a set of three bonds for £1000, £500 and £100, small dockside vignette, brown, blue and green respectively, all with coupons, generally about very fine. (3) £300-400 157 1919 8% 10-Year Sterling Treasury Notes (Vickers Loan), a group of 50 bonds for £100, vignette of dockside, green and black, with coupons, mixed condition but mostly very fine. (50) £800-900 154 1919 6% 2-Year Secured Gold ‘Chicago Bank’ Loan, $1000 bond no.3884, vignette of pagoda at top, orange and black, printed by the American Bank Note Company, with coupons, and sheet of scrip certificates, a couple of edge tears at folds, about very fine and scarce £300-400 155 1919 6% 2-Year Secured Gold ‘Chicago Bank’ Loan, $1000 bond, no.1830, vignette of pagoda at top, orange and black, printed by the American Bank Note Company, with coupons, and sheet of scrip certificates, uneven right edge where coupons removed, good very fine. £300-400

158 1919 8% 10-Year Sterling Treasury Notes ‘Vickers Loan’, a bond for £100 with original coupons, no.0229, dockside vignette, green and black, very fine £60-80

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159 1919 8% 10-Year Sterling Treasury Notes ‘Vickers Loan’, a bond for £500 with original coupons, no.9766, dockside vignette, blue and black, some spotting, fine to very fine and rare. £400-500

162 1920, 8% Lung Tsing U Hai Railway Loan, pair of certificates for unpaid coupons, Amsterdam 1928, 1st tranche no. 8306 and 2nd tranche no. 2853, ornate borders, green and black, with coupons, good very fine.

(2) £60-80

160 Lung Tsing U Hai Railway, 8% Loan, 1920, a group of 26 bonds for 500 francs, ornate borders, pinkish-brown and black, with coupons, very fine to extremely fine. (26) £80-100

163 1922 8% Railway Equipment Loan, a group of 5 unissued reserve stock bonds, very large format bonds with steam train in centre, blue and black, text in French and English, with all coupons, not numbered, extremely fine. (5) £100-150 164 1925 8% ‘Skoda’ Loan, a short set of bonds for £5, £10, £50 and £100, ornate borders, brown, mauve, green and brown respectively, with coupons, generally extremely fine and better (4) £80-100

161 Lung Tsing U Hai Railway, a pair of Dutch Loan bonds, 1920 and 1923, each for 1000 florins, ornate borders with vignette at top, red and brown and green and red respectively, both with coupons, nearly extremely fine. (2) £60-80

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165 1925 8% ‘Skoda’ Loan, bond for £5, no.0002644, inverted ‘No.’, ornate border, brown, blue and black, ‘chop’ in centre, with coupons, very fine and a very scarce error. £500-600

166 1925 8% ‘Skoda’ Loan, bond for £500, no.0021221, ornate border, orange and black, ‘chop’ in centre, with coupons, about extremely fine. £150-180

167 1925 8% ‘Skoda’ Loan, bond for £1000, no.0026473, ornate border, red and black, ‘chop’ in centre, with coupons, small tears at top edge, spike hole in right margin, very fine. £200-300

168 1928 6% Gold Loan ‘Belgian Boxer’, bond for US$100, no.25, 648, ornate border, green and black, with coupons, couple of small edge tears, very fine. £80-100

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171 1934 6% Sterling Indemnity (Boxer) Loan, bond for £100, no.5623, ornate border with vignette of Sun Yat Sen at top, green and blue with yellow underprint, with coupons, spike hole at top left corner, about extremely fine. £150-200

169 1934 6% Sterling Indemnity (Boxer) Loan, bond for £50, no.1716, ornate border with vignette of Sun Yat Sen at top, blue, brown and black with green underprint, with coupons, extremely fine. £150-200 170 1934 6% Sterling Indemnity (Boxer) Loan, bond for £50, no.1694, ornate border with vignette of Sun Yat Sen at top, brown and blue with pale green underprint, with coupons, spike holes at top left corner, about extremely fine. £150-200

172 1934 6% Sterling Indemnity (Boxer) Loan, bond for £1000, no. 6051, ornate border with vignette of Sun Yat Sen at top, pink and blue with pink underprint, with coupons, about extremely fine. £600-800 45

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boNds aNd share CertifiCates of the WorLd 175 1936 6% Shanghai-Hangchow-Ningpo Railway Completion Loan, a group of three £100 bonds, large format pieces with Sun Yat Sen at top right, ornate borders, brown, green and blue, with coupons, two with minor edge damage, fine to about very fine, the third with damage and small paper loss at top edge, fine.

(3) £100-120

173 1936 6% Shanghai-Hangchow-Ningpo Railway Completion Loan, pair of bonds for £50 and £100, large format pieces with Sun Yat Sen at top right, ornate borders, green, red and blue and brown, green and blue respectively, with coupons, both about extremely fine. (2) £120-150 174 1936 6% Shanghai-Hangchow-Ningpo Railway Completion Loan, pair of bonds for £50 and £100, large format pieces with Sun Yat Sen at top right, ornate borders, green, red and blue and brown, green and blue respectively, with coupons, both about extremely fine. (2) £120-150

176 1937 Secured Sinking Fund Bond (Pacific Development Loan), bond for US$1000, no.M3661, pagoda at top, blue and black, with coupons, ABNCo. printing (K.952), with certificate attached to denote American domicile, extremely fine. £300-350

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Internal Loans

177 1917/1918, 8% Military Loan, a group of 20 bonds for 1000 yuan and 20 bonds for 100 yuan, blue & bright green and brown & light green respectively, text all in Chinese, with coupons, uncirculated. (40) £300-400

180 1937 Liberty Loan, bond for 1000 dollars, no.3467, overprinted in red Chinese text, green and black, yellow uderprint, red chop and revenue, with coupons, almost extremely fine. £60-80 181 27th Year (1938) Gold Loan of the Republic of China, a group of bonds for US$5 (20) and US$10 (14), small format, ornate borders, blue with pink underprint and brown with yellow-green underprint, text in English and Chinese, with coupons, generally very fine to extremely fine. (34) £120-150 182 29th Year (1940) Reconstruction Gold Loan, a group of bonds for US$5 (22) and US$10 (10), very attractive bonds with borders of steam trains, bridges and tools, text in Chinese with English on the reverse, blue and mauve respectively, with coupons, generally extremely fine but a couple of the $10 are somewhat dirty. (32) £120-150 183 1941 Nationalist Government Air Force Salvation Loan, bonds for $50 and $5, central vignette of monoplane, ornate borders, green and brown respectively, text all in Chinese, fine and about extremely fine. (2) £60-80 184 1942 Republic of China Allied Victory U.S. Dollar Loan, a group of bonds for US$20 (37) and US$50 (13), small format bonds with vignette of steam train at right and steam ship at left, blue and red respectively, with coupons, the $20 are generally very fine to extremely fine, the $50 are mixed with several very fine. (50) £150-200

178 1928 21⁄ 2 % Nationalist Government Long Term Loan, bond for 10 silver yuan, no.53783, Sun Yat Sen in blue oval in centre, ornate border, red, blue and black, text all in Chinese, with coupons, good very fine and scarce. £60-80 179 1937 4% Liberty Loan, a group of 30 bonds each of 5 10, 100 yuan, 5 yuan, ornate border, blue, yellow underprint, 10 yuan, ornate border, blue, orange underprint, 100 yuan, ornate border, maroon, green underprint, all with text in Chinese with English on the reverse, with coupons, mixed condition but mostly extremely fine. (90) £200-300

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Provincial and Municipal Loans 188 Province of Kwang-Tung, 8% Public Lottery Loan, 1912, a group of 15 bonds for $10, each made up of two half-bonds of $5 each attached at the sides, letter ‘A’ and letter ‘B’ ornate border, mauve and black, text in Chinese on the front, English on the reverse, with all coupons, generally about extremely fine. (15) £100-120

185 1942 Nationalist Government, Allied Victory Loan, a specimen bond for 10,000 yuan, small format piece with city view at bottom and aircraft at top, blue and red, numbered 000000, with coupons, small nick to top left corner, very fine and scarce £60-80 186 1944 33rd Year Allied Victory Loan, a pair of specimen bonds for 200 yuan and 50,000 yuan, the people raising their hands to a female holding a lamp, ‘V’ with wings at top, numbered 000000 in red, green and blue respectively, with coupons, about extremely fine. (2) £80-100

189 Shanghai Municipal Council, 6% Loan of 1926, debenture for 100 taels, no.D18193, Shanghai Council buildings in centre, ornate border, yellow and black, printed by Waterlow & Sons, good very fine. £60-80

187 1947 36th Year Short Term Treasury Notes, pair of bonds for US$10, first issue, no.22817 and second issue, no.16888, small format pieces with vignettes of Chang Kai Shek at top right and top left respectively, red and blue, with coupons, the first with small stain in top margin otherwise good very fine and better. (2) £60-80 190 Shanghai Municipal Council, 6% Loan of 1926, debenture for 500 taels, no.C04573, Shanghai Council buildings in centre, ornate border, blue and black, printed by Waterlow & Sons, endorsement of conversion to Chinese currency in 1943, good very fine. £80-100 WWW.spiNK.Com

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191 Shanghai Municipal Council, 6% Loan of 1926, debenture for 1000 taels, no.B12214, Shanghai Council buildings in centre, ornate border, red and black, printed by Waterlow & Sons, endorsement of conversion to Chinese currency in 1943, good very fine. £80-100

193 Shanghai Municipal Council, 5% Loan of 1934, debenture for $500, dated 1935, no.B00230, large format piece with Shanghai Council buildings in centre, ornate border, blue and black, printed by Waterlow & Sons, right edge somewhat ragged, very fine. £60-80

192 Shanghai Municipal Council, 5% Loan of 1934, debenture for 100 dollars, dated 1935, no.A00743, Shanghai Council buildings in centre, ornate border, yellow and black, printed by Waterlow & Sons, black stain at top left otherwise very fine. £60-80

194 Shanghai Municipal Council, 5% Loan of 1934, debenture for 1000 dollars, dated 1935, no.C00930, Shanghai Council buildings in centre, ornate border, red and black, printed by Waterlow & Sons, two punch holes at top, good very fine. £80-100

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195 Shanghai Municipal Council, 5% Loan of 1934, debenture for 5000 dollars, dated 1935, no.D00311, Shanghai Council buildings in centre, ornate border, green and black, printed by Waterlow & Sons, tiny rust mark at bottom margin and two punch holes at top, good very fine and a rare denomination. £250-300

198 Shanghai, French Concession (Conseil d’Administration Municipal de la Concession Francaise de Changhai), 1921 Loan, certificate for [5] bonds of 100 taels, no.3499, black and red on thick cream paper, good very fine and scarce. £80-100

196 Shanghai Municipal Council, 51⁄ 2 % Loan of 1936, debenture for 1000 dollars, no.C01327, Shanghai Council buildings in centre, ornate border, red and black, printed by Waterlow & Sons, good very fine. £80-100

197 Shanghai Municipal Council, 5% Loan of 1937, debenture for $100, no.A02190, large format piece with Shangahi Council buildings in centre, ornate border, yellow and black, printed by Waterlow & Sons, good very fine. £60-80

199 Shanghai, French Concession, 1931 Loan, 2nd issue, certificate for 10 bonds of 100 taels, [1937], no.960, plainly printed piece, in French, black and red on buff paper, embossed seals, good very fine and scarce. £80-100

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Commercial and Industrial

200 British Municipal Council Tientsin, Refunding and General Purposes Loan, 1937, bond for 1000 dollars, no.741, ornate border with coat of arms of the city in centre, brown and black, yellow underpint, printed by Waterlow & Sons, with coupons, good very fine and rare. £400-500

201 Asia Realty Company (Fed Inc. U.S.A.), first mortgage 6% debenture for 1000 taels, 1930, no.0471, eagle at top, ornate border, brown and black, with coupons, good very fine. £50-70

202 Bank of Hindustan, China & Japan Limited, certificate for 1 NEW share of £100, part paid, 18[64], no. 17947, attractive coat of arms in centre, black on mauve paper, perforated and stamped on reverse with details of partial return of capital, extremely fine. £150-180

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203 Banque Franco-Asiatique, 500 franc ‘B’ share, Paris 1928, no.28, 316, ornate border, blue and black, with coupons, nearly extremely fine. £60-80

204 Banque Industrielle de Chine, a fine set of certificates comprising 500 francs founders share, 1913, blue, 500 franc ordinary shares (4), 1913, capital 45 million francs, 1919, capital 75 million francs and 1920, capital 150 million francs (2 examples, issued and unissued, yellow, classic design with architectural borders, dragons and panoramic view of Chinese City, all with coupons, good very fine to extremely fine. (5) £150-200

205 Banque Industrielle de Chine, Transactional Settlement certificate, entitling the owner to exchange for the new 1925 5% Gold ‘Boxer’ bonds, ornate border, brown, yellow underprint, dirty surface, fine to very fine. £80-100 WWW.spiNK.Com

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206 Chartered Bank of India, Australia & China, certificate for 1 share, 185[4], no.31439, ornate scrollwork at left, black, lovely embossed seal, together with Chartered Bank, stock certificate, 1969, black, large embossed seal, extremely fine and very fine. (2) £400-500

208 Compagnie de la Chine et des Indes, ‘part de fondateur’, Paris 192[1], no.00602, ornate border, black, pale blue underprint, with coupons, pinholes at top left, very fine. £60-80

207 Chinese Engineering and Mining Co. Ltd., bearer warrant for 10 shares of £1, 19[12], no.C10476, capital £1,000,000, Britannia looks over a miner at work, ornate border, orange and black, printed by Waterlow & Sons, with coupons, good very fine. £60-80 209 Compagnie Francaise de Tramways & d’Eclairage Electriques de Shanghai, a pair of unissued or possibly specimen certificates for 250 franc shares, 1926 and with increased capital, 1931, attractive design with dragons at top, green and black, with counterfoil and coupons, not numbered and with small hole cancels at bottom, extremely fine. (2) £150-200

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boNds aNd share CertifiCates of the WorLd 210 Cie Francaise de Tramways & d’Eclairage Electriques de Shanghai, 250 franc share, 1929, no.236448, ornate border with dragons at top, green and black with buff underprint, with coupons, together with a 2500 franc share, (1952), border with dragons at top, red-brown, with coupons, both good very fine. (2) £60-80

212 Concession Belge de Tientsin S.A., 500 franc share, Brussels 1912, no.1197, ornate border, orange brown, with coupons, several endorsements on face, small tear at left edge, about extremely fine. £60-80 The company formed to operate the concession given by the Chinese Government in 1902 for a trading settlement in Tientsin. The concession ceased to exist in 1931.

211 Comptoir Charles Ley S.A., pair of bearer certificates for 1000 Chinese dollars, Brussels 1923, no.153, and with increased capital 1925, no.263, of only 200 of each issued, ornate borders, blue and yellow, with coupons, about extremely fine, (2). £80-100 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.

213 Crédit Foncier Chinois, ‘part bénéficiaire’, Paris 1910, no.4908, ornate border, black, green underprint, text in French and Chinese, with coupons, almost extremely fine. £120-150

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214 Hankow Dispensary Ltd., 10 Hankow dollar shares, 19[32]. no.263, ornate border, brown, text all in English, very fine. £60-80 Located on the Yangtse this was a modern purpose built and well equipped chemist.

216 Hankow Light & Power Co. Ltd., bearer warrant for one ordinary share of £10, 19[20], no.812, capital £20, 100 overprinted with £60, 100 in black, ornate border, black, pink underprint, with coupons, couple of tiny edge nicks, good very fine. £80-100

215 Hankow Light & Power Co. Ltd., bearer warrant for one ordinary share of £10, 19[16], no.385, capital £20, 100, ornate border, black, pink underprint, with coupons, few edge tears at bottom otherwise very fine. £60-80 55

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boNds aNd share CertifiCates of the WorLd 219 Hongkong and Shanghai Hotels Ltd., $7.50 shares, 193[2], no.12728, issued to Lawrence Kadoorie, ornate border, coat of arms in centre, blue, capital overprinted with reduced figures, printed by Waterlow & Sons, perforated cancelled, good very fine. £60-80

217 Hankow Light & Power Co. Ltd., bearer warrant for one second preference share of £5, 19[29], no.727, capital £80, 100, ornate border, black, with coupons, centre fold otherwise about extremely fine. £80-100

220 Oriental Bank Corporation, a trio of certificates for £25 shares, 18[52] no.23124, 18[53] no.31124 and 18[56] no.41276, British coat of arms at top, black, with blind embossed seal, embossed seal with blue paper and embossed seal with white paper, very fine to extremely fine. (3) £200-300 221 Oriental Bank Corporation, pair of certificates for £25 shares, 18[53], numbers 24260 and 29376, British coat of arms at top, black, attractive embossed and blue paper seal with steam train, steamship, tower and palm tree, almost extremely fine and fine respectively. (2) £150-200 222 Oriental Bank Corporation, trio of consecutively numbered certificates for £25 shares, 18[53], numbers 31865, 31866 and 31867, British coat of arms at top, black, attractive embossed and blue paper seal with steam train, steamship, tower and palm tree, generally very fine. (3) £200-300

218 Hongkong and Shanghai Hotels Ltd., $7.50 shares, 193[2], no.12733, issued to Lawrence Kadoorie, ornate border, coat of arms in centre, blue, capital overprinted with reduced figures, printed by Waterlow & Sons, perforated cancelled, good very fine. £60-80

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223 Oriental Bank Corporation, certificate for one New share of £25, London 1855, no.44310, scrollwork at left, red on pale blue-grey paper, pinholes at top left but good very fine and a rare type £100-120

226 Shanghai Exploration and Development Co. Ltd., 2 tael 50 candareen shares, Hongkong 19[50], no.19596, ornate border, yellow and black; together with Shanghai Sumatra Rubber Estates Ltd., 5 tael shares, Hongkong 19[55], no.3836, ornate border, brown and black, good very fine. (2) £60-80 227 Shanghai Exploration and Development Co. Ltd., 2 tael 50 candareen shares, Hongkong 19[41], no.1555, ornate border, yellow and black; together with Shanghai Sumatra Rubber Estates Ltd., 5 tael shares, Hongkong 19[55], no.3824, ornate border, brown and black, and, Maatschappij Tot Mijn, Bosch-en Landbouwexploitatie in Langkat (Langkat mining and Land Co.), 5 gulden shares, Shanghai overwritten Hongkong 19[54], ornate border, green and black, the first with tear and rust mark, very fine or better. (3) £80-100

224 Pekin Syndicate Ltd., a group of three certificates for 1 Shansi share, 19[09], capital 39,900 shares of £1, and 1 and 5 Shansi shares, 19[11] and [1911], capital 399,000 shares of 2 shillings, large format with ornate borders, view of Peking in centre, green on yellow paper, with coupons, all with endorsement across face, the first with heavy centre fold, generally very fine. (3) £120-150

x225 Pekin Syndicate Ltd., bearer warrant for 1 Shansi share, 19[13], no.A18482, remains of tape repair on reverse top edge; together with Chinese bonds comprising Hukuang Railway Laon, 1911, £100 bonds issued by the Hongkong and Shanghai Bankning Corp. and the American Banking Syndicate; 1898 41⁄ 2 % Gold Loan, £100, German issue; 1922 Railway Equipment Loan, £20 bonds (6 examples); 1925 Skoda Loan, £10 and £100; 1920 Lung Tsing U Hai Dutch Loan, 1000 florins; 1923 Lung Tsing U Hai Dutch Loan, 1000 florins, and, others (6), mixed condition, fine to very fine. (20) £300-350

228 Shanghai Land Investment Company Ltd., 5 tael shares, fully paid, 19[31], no.764, issued to Eleazor Silas Kadoorie, full height vignette of Chinese workman on a ladder working on the roof of a building, brown, stamped cancelled, very fine. £80-100 57

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boNds aNd share CertifiCates of the WorLd 229 Shanghai Land Investment Company Ltd., 5 tael shares, fully paid, 19[31], no.763, issued to Eleazor Silas Kadoorie, full height vignette of Chinese workman on a ladder working on the roof of a building, brown, stamped cancelled, very fine. £80-100

233 Shanghai Power Company (DE), certificate for ‘not more than 100’ silver preferred shares, [1933], no.6260, Pagoda in centre with electric installation at left and electric tram at right, green and black, text in English and Chinese, small cut at top edge, about very fine. £60-80 230 Shanghai Power Company, first mortgage 51⁄ 2 % debenture, C$1,000, [1934], no.R5406, vignette of Shanghai harbour but with red overprint across the entire view as usual, red and black, printed by the American Bank Note Co., good very fine. £80-100

231 Shanghai Power Company, first mortgage 51⁄ 2 % debenture, C$20,000, [1935], no.R13014, vignette of Shanghai harbour but with red overprint across the entire view as usual, red and black, printed by the American Bank Note Co., good very fine. £80-100

232 Shanghai Power Company, nominative First Mortgage 51⁄ 2 % debenture, C$[3900], [1934], no.R10293, vignette of Shanghai harbour but with red overprint across the entire view as usual, red and black, printed by the American Bank Note Co., stamped DERELICT twice, very fine. £60-80

234 Shanghai Waterworks Co. Ltd., 6% debenture, 1932, 500 taels, no.C10, large format with ornate border, green and black, overprint of conversion to Chinese dollars, edge tears at top, tiny piece missing from right edge, fine to very fine. £60-80

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235 Shanghai Waterworks Co. Ltd., £20 ‘A’ shares, fully paid, 19[39], no.A2260, Shanghai register, black printing with attractive embossed seal, printed in London, very fine. £60-80

237 Société Anonyme Minière des Aïmaks de Touchetoukhan et de Tsetsekhan en Mongolie, 50 rouble share, 1907, no.8628, ornate border, orange and black, text in Russian, French and some Chinese, with coupons, good very fine. £60-80 A Russian Corporation operating across the border in Mongolia.

x236 Shao Chow Electric and Lighting Company, certificate for 1 preference share of 25 yuan, 1928, issued to the Chairman of the company, attractive borders, blue with yellow-green underprint, red ‘chops’, adhesive revenue stamps, good very fine and scarce. £400-500

238 Tung Whan Lung Great Highway, Canton, unissued share certificate, 1935, vignette of map of the railway route, ornate border, blue, yellow underprint, some chipping at top edge and small hole in top margin otherwise very fine. £60-80

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boNds aNd share CertifiCates of the WorLd 241 Banque de Cochinchine S.A., 250 franc nominative share, (1908), no.4793, 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, near extremely fine. £200-240

239 Union Insurance Society of Canton Ltd., a specimen certificate for £10 shares, £4 paid, Hongkong 19- (circa 1919), ornate border and scrollwork, black, text all in English, printed by Henry S King & Co, London, printers’ annotation for 1919, tears at top and bottom edges otherwise very fine. £80-100

FRENCH INDOCHINA

240 Banque de Cochinchine S.A., 250 franc nominative share, (1908), no.00885, 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, good very fine. £200-250

242 Banque de Cochinchine S.A., 250 franc nominative share, [1908], no.19198, 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, two folds, very fine. £200-240

INDIA 243 An Accumulation of Indian Share Certificates, comprising Bank of Bengal, 1876 - 1880 (14), The United Provinces Oil Mills Company, 1921 (4), The Lister Antiseptics & Dressing Co., (1928) Ltd., 1944 (1), The Swadesh Laxmi Mills Ltd, 1923 (40), The Raja Gokaldass Mills Limited, 1918 (12), Messrs Tricumtat Bhogitat & Co. Limited, 16 January 1929 (20), The Ananta Mills Limited., 1940 (37), Jayantilal Amratlal Limited., 1930 (35), Indore Bullion Exchange Ltd, 1950 (49), generally very fine to extremely fine. (212) £300-400

244 East Indian Junction Railway Company, provisional certificate for 5 shares of £50 each, 5 shillings paid up, 184[7], no.3580, small blue seal at top centre, black on grey paper; together with Oude Railway Co. Ltd., scrip certificate for 5 shares, 5 shillings paid, 1857, no.5009, black, hole cancelled, and, Ally Moolla industrial Corporation Ltd., 100 rupee preference shares, 192[1], no.109, attractive design with large underprint river scene, another river scene at top, brown and orange, all very fine or better.

(3) £60-80

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x247 Investors’ Land Co. Ltd., a group of 10 certificates for 100 rupee shares, 1917, attractive underprint in green of large building, scrollwork left, black and green, the day and month of issue have been omitted in error, generally extremely fine; together with Great Eastern Hotel Ltd., 100 Rupee shares, 19[15], logo in centre, filing holes at left, very fine; Other Indian certificates (35), mostly unissued and with much duplication, generally very fine to extremely fine. (46) £100-120

245 Madras Presidency Kallikote Raj Sterling Loan 1906, 6% Mortgage debenture for £100, 1907, no.136, of only 775 issued, very large format, ornate border, brown, pale orange underprint, signed by Arbuthnot Latham & Co. as issuing agents, with coupons, near extremely fine. £60-80

x248 Kalyanmal Mills Ltd., a group of 10 certificates for 100 rupee shares, 192[2], mill building at top left, blue with green underprint, adhesive Holkar state revenue stamp, a few edge chips especially on one piece, two have old repairs, otherwise about extremely fine. (10) £60-80

246 East India & London Shipping Company Limited, £10 share, class B, 186[1], no.5030, lovely piece with steam assisted sailing ship in full sail, black, embossed seal depicting anchor, extremely fine. £120-150 61

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x249 Morris Transport Service Ltd., 100 rupee shares, 1942, no.1298, airplane, steamship and motor bus at top, brown, adhesive revenue stamps, small chip from bottom edge, about extremely fine; together with other Indian certificates (23), all different, including New Jehangir Vakil Mills Co. Ltd., 1943, Bhavnagar State, Indian gentleman in centre; Jaipur Metals & industrials Ltd., Jaipur, ordinary and preference shares, both 1944; Travancore Rayons Ltd., 1946, very attractive multicoloured border; Calcutta Iron & Steel Scrap Dealers Association Ltd., 1946; Harda Electric Supply Co. Ltd., 1939; Birla Jute Manufacturing Co. Ltd., 1943; Northern Bengal Jute Trading Co. Ltd., 1941, and Western Jute Baling Co. Ltd., 1949, one or two others are unissued, a few stamped cancelled, mixed condition, most of those mentioned being very fine, the remainder generally fine to very fine. (24) £120-150

x250 Nevatia Flour Mills Ltd., a group of 10 certificates for 100 rupee shares, 1915[6], ornate title with wheat sheaves, sheaves also at left, black and yellow, red impressed revenue stamp, generally extremely fine. (10) £60-80

x251 Rajputana Talkies Ltd., Jaipur, a group of 10 certificates for one share of 50 rupees, 19[46], cinema, camera and film at top, black, green adhesive Jaipur State revenue stamps, generally extremely fine. (10) £80-100

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JAPAN

x253 China Incident, Special Treasury Loan, 1938/40, a specimen bond for 10 yen from the first series, vignette of Fujiwara Kamatari at right, ornate border, ‘10’ in top corners, orange and black, numbered 000000, with coupons, about extremely fine and rare £100-120

x252 Imperial Japanese Government, 1904, 6% Sterling Loan, a specimen bond for £100, vignette of Mount Fuji flanked by vignettes of warship and field artillery, blue and black, printed by the American Bank Note Company, numbered 00000, overprinted SPECIMEN in red, weak at folds and small chip to top right corner but very fine and very rare £300-400

x254 Greater East Asia War, Special Treasury Loan, 1943, a specimen bond for 100 yen, vignette of statue of Kusunoki Masashige at left, Nanko-san temple at right, blue and red, yellow underprint, numbered 000000, with coupons, good very fine £80-100

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255 Osaka City Harbour Construction Loan, 6%, 1933, bond for 500 yen, no.2874, vignette of Harbour view, ornate border, brown and black, text in Japanese with English on reverse, English revenue stamp, with coupons, about very fine and very scarce. £250-300

256 Ville de Tokyo (City of Tokyo), 5% Loan of 1912, bond for 500 francs, no.39918, 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, good very fine. £60-80

257 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, rust marks in upper margin, folds but about very fine. £60-80

258 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 and rare denomination. £120-150

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MALAYA

PHILIPPINES

259 Société des Etains de Selangor, 100 franc share, Paris 19[04], no.2768, very attractive piece with elephant, tiger, natives at wotk, Europeans and plantation camp, blue, with coupons, extremely fine. £140-160 x260 Tronoh Extended Ltd., $1 shares, Penang 19[15], no.471, red printing by the Penang Gazette Press, adhesive Straits Settlements plus red impressed Penang duty stamps, trimmed at top edge, good very fine and all Penang registered companies are rare. £60-80 261 Manila Railway Co. (1906), Ltd., ‘A’ debenture Bonds, a part set of 3 specimen bonds for £20, £50 and £100 (missing the £200), 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, printers annotation in top margin, very fine to extremely fine.

(3) £80-100 Rare issue generally not seen in issued form, unlike the ‘B’ debentures.

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SARAWAK

x263 Sarawak: Kim Loong Gold Mining Syndicate, Jambusan, Bau, Upper Sarawak, 50 dollar share, 19[34], no.460, small format piece with mauve border, green underprint, black and red text in English and Chinese, adhesive Rajah Brooke revenue stamp, printed in Kuching, slight foxing otherwise extremely fine and extremely rare. £150-200

262 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) £80-100

x264 Sarawak: Hing Lee Gold Mining Syndicate, Jamboo San, Upper Sarawak, 100 dollar share, 19[33], no.234, ornate border, black and mauve with yellow underprint, text in English and Chinese, Rajah Brooke adhesive revenue stamp, printed in Kuching, extremely fine and extremely rare. £150-200

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November 29, 2012 - LoNdoN 265 Island Trading Co. Ltd., a group of 3 certificates for £1 shares, 19[17], 2 examples and 19[24], numbers 300, 302 and 568, ornate border, blue, different printers, the first with small piece missing from bottom right corner, fine to very fine. (3) £80-100

THAILAND (SIAM)

267 Royal Siamese Government, 7% Sterling Loan, 1922, bond for £100, no.3343, large format piece with coat of arms at top flanked by steam train and canal scene, green and black, printed by Waterlow & Sons, punch cancelled, no coupons remaining, good very fine. £120-150

266 Royal Siamese Government, 41⁄ 2 % Loan, 1907, bond for £100, no.01863, vignette of Palace in centre, ornate border, red and black, printed by Waterlow, Bros & Layton, with coupons, hole cancelled, about extremely fine. £100-120

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268 Royal Siamese Government, 6% Sterling Loan, 1924, bond for £50, no.A140, very large format with coat of arms at top flanked bu vignettes of steam train at left and workers in field at right, brown and black, printed by Waterlow & Sons, red stripes and CANCELLED across face, light staining in left margin, good very fine and scarce. £200-250

270 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. £150-200

269 Royal Siamese Government, 6% Sterling Loan, 1924, bond for £100, no.B5105, very large format with coat of arms at top flanked by vignettes of steam train at left and workers in field at right, red and black, printed by Waterlow & Sons, red stripes and CANCELLED across face, some damp staining, very fine and scarce. £150-200

271 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, good very fine and rare. £180-220

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AUSTRALASIA AUSTRALIA

272 Royal Siamese Government, 4% Sterling Conversion Loan, 1936, bond for £100, no.B7199, large format with coat of arms in centre, steam train at left, workers in field at right, mauve and black, printed

by Waterlow & Sons, with coupons, hole cancelled, very fine to extremely fine. £150-180 273 Commonwealth of Australia, 15-year 41⁄ 2 % Loan, 1956, a specimen bond for $1000, Australian arms at top, ornate border, blue and black, typical American format but unusually printed by Waterlow & Sons, with coupons, extremely fine. £150-200 274 Commonwealth of Australia 20-Year 51⁄ 2 % Loan, 1959, a specimen bond for $1000, Australian arms at top, ornate border, mauve and black, printed by Security-Columbian Banknote Co., with coupons, overprinted specimen in red in signature areas, centre fold, extremely fine. £80-100

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boNds aNd share CertifiCates of the WorLd 277 Midland Railway Company of Western Australia Ltd., a group of certificates for 4% second mortgage debenture stock, various dates from 1937 to 1960, the majority 1950’s and 60’s, steam train and tender at top, ornate border, green and black, printed by Bradbury, Wilkinson & Co., generally very fine. (99) £400-600

275 New South Wales Government, 4% debenture for £100 to bearer, Sydney 1905, no.4230, attractive design by the Government printer, ornate border, black with yellow NSW monograms in top corners and yellow £100 at either side, with coupons, very fine and a very rare uncancelled bond not previously seen by the cataloguer £150-200

278 North Sydney Investment and Tramway Company Ltd., 41⁄ 2 % debenture for £100, Sydney 1889, no.2124, large format, mauve, grey-green underprint, with coupons, a couple of tone spots, good very fine. £80-100

276 Melbourne & Suburban Railway Co., £10 share, 18[60], no.11744, vignette of steam train about to cross a bridge flanked by a surveyor and a navvy, plan of the route below, black on thick paper, about extremely fine. £180-220

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.

Built a line from Melbourne City centre to Richmond, Burley and Hawthorn, later extending to Camberwell, Lilydale and Healesville by 1889. Acquired by Government controlled Victorian Railways.

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November 29, 2012 - LoNdoN 281 Panama, New Zealand & Australian Royal Mail Co. Ltd., £5 shares, fully paid, 186[5], no.2233, issued to Charlotte Fanny Countess Poulett, widow of the first Chairman, John, 5th Earl Poulett, scrollwork at left, blue on watermarked paper, very fine. £100-120 .

279 New South Wales Coal and Inter-Colonial Steam Navigation Co., one share, 185[3], no.57835, black, attractive embossed seal; together with Australian Royal mail Steam Navigation Co., one share, 1852, no.23056, black on blue paper, embossed seal, good very fine and better. (2) £80-100 282 Eastern Air Transport Ltd., £1 shares, fully paid, 193[6], no.51, blue printing with grey underprint, printed in Sydney, good very fine. £60-80

280 Panama, New Zealand & Australian Royal Mail Company Ltd., £5 shares, partly paid, 186[4], no.

548, signed by George Paulet, blue, about very fine, £60-80

283 Bank of New South Wales, certificate for one share of £100 in the name of Samuel Terry, 18[32], no.750, small format piece printed in black on vellum, arms at left, handwritten endorsement on face, very fine and rare £800-1,000

Formed by the Royal Mail Steam Packet Co. to provide a service to New Zealand and Australia via Panama. The company built 4 ships but failed in 1868 and the ships were acquired by the Royal Mail Steam Packet Company to whom they had been mortgaged.

Founded in 1817. Acquired numerous other banks including the City Bank of Sydney in 1918 and Western Australian Bank in 1927. Itself absorbed into Westpac in 1982.

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284 Bank of South Australia, £25 shares, fully paid, London 18[82], no.3259, attractive coat of arms within scrollwork at left, black, small ink smudge, pinholes, about very fine and rare. £150-180 Founded in 1837 as the banking arm of the South Australian Company. Separated in 1842 and given a Royal charter in 1847 as the South Australian Banking Company. Name changed when charter renewed in 1867. Charter cancelled in 1884 and the company registered then under the Company’s Act. Caught up in land speculation in the latter part of the 1880’s and absorbed by the Union Bank in 1892.

285 Commercial Bank of Australia Ltd., £10 preference shares, 5 examples dated 1927 to 1940, mauve , stamped cancelled; Bank of Australasia, £5 shares, 19[28] and 19[31], black, arms at top; Equitable Permanent Benefit, building, Land and Savings Institution £50 share, 187[4], black buff underprint, together with South Australian Government 4% Loan, stock certificate, 18[84], black with attractive pink underprint; Commonwealth of Australia, 31⁄ 2 % Loan, 1936-7, stock certificate, 193[2], Australian arms at top, black with attractive mauve underprint, red crayon cancellation; Commonwealth of Australia, War Savings certificates for £1, 1941, green, and £10, 1943, red; together with inscribed stock transfer certificates of New South Wales (4), Queensland (1) and Western Australia (5), 1889-1928, and dividend warrants (7), fine to very fine, some better. (29) £150-180

286 Standard Bank of Australia Ltd., £5 ordinary shares, £3 10 shillings paid, London register 189[4], no.21, scrollwork at left, brown, very fine. £150-180 Formed in 1879 and liquidated in 1899.

287 Book: The Gold Fields of Victoria in 1862, published in Melbourne by Wilson & Mackinnon, December 1862, 331 pages, octavo, original blind embossed boards. Originally published in a series in The Argus, newspaper following one of their reporters’ travels through the goldfields. A very useful guide to the mining regions and mining camps during one of the first great gold mining booms in Australia, boards a little loose, cracked and bumped, slight foxing in the contents but sound. £180-200

288 A group of 19th century Western Australian mining certificates; comprising Golden Link Consolidated Gold Mines Ltd., 1899; Golden Plum Consolidated Gold Mines Ltd., 1897; Hannan’s Consols Ltd., 1897; Hannan’s Excelsior Gold Mines Ltd., 1896; Hannan’s Proprietary Development Co. Ltd., 1898; Menzies Golden Age Mine Ltd., 1895; North Boulder Gold Mining Co. Ltd., 1899; St.Denis Gold Mine Ltd., 1896; Transvaal-Westralian Gold Concessions Ltd., 1896, and West Australian Mining Co. Ltd., 1899, a good lot in fine to very fine condition with no condition problems.(10) £300-400

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November 29, 2012 - LoNdoN 289 A group of Australian, mostly Western Australian Mining certificates, comprising Australian Smelting Corporation Ltd., 1907; Bayley’s Gold Mines Ltd., 1901; Bellevue Proprietary Ltd., 1906; Broken Hill South Silver Mining Co., 1908; Brownhill Central Gold Mines Ltd., 1900; Cosmopolitan Proprietary Ltd., 1903; Croydon Consols Ltd., 1896; Croydon Consols Mines Trust Ltd., 1904; D’Arcy Wentworth Gold Mines Ltd., 1901; Field’s reward Gold Mines Ltd., 1906; Finance Corporation of Western Australia Ltd., 1896; Golden Ridge (Western Australia) Proprietary Co. Ltd., 1897; Great Cement Proprietary Ltd., 1903; Gwalia Consolidated Ltd., 1909; Hampton Consolidated Ltd., 1921; Hampton Plains Estate Ltd., 1897; Hampton Plains Exploration Co. Ltd., 1899, and Hampton Properties Ltd., 1899, a handful with condition problems otherwise generally fine to very fine. (18) £400-500

291 L’Australie Compagnie d’Ingenieurs Francais, 100 franc dividend share, 1853, no.54018, small but attractive piece with vignettes of Australian scenes, a steamship and a mining camp, black on salmon coloured paper, with coupons, very fine. £400-500

290 A group of Australian, mostly Western Australian Mining certificates, comprising Hampton Consolidated Ltd., 1921; Hannan’s Amalgamated Gold Mines Ltd., 1901; Hannan’s Proprietary Ltd., 1905; Lady Shenton Gold Mine Ltd., 1902; Lady Loch Mines Ltd., 1903; Lancefield Gold Mining Co. Ltd., 1910; London & Globe Finance Corporation, 1898; Menzies Consolidated Gold Mines Ltd., 1898; Menzies Gold Estates Ltd., 1898; Menzies Lady Sherry Gold Mining Co. NL, 1902; Millionaire Ltd., 1902; New Standard exploration Co. Ltd., 1902; North White Feather Gold Mines Ltd., 1912; North White Feather Gold Mines Ltd., 1924; Northern Blocks Syndicate Ltd., 1903; Standard Exploration Co. Ltd., 1900; Star of the East Gold Mining Co. Ltd., 1907; Universal Mining Co. Ltd., 1901; West Australian Gold Fields Ltd., 1906; White Hope South Extended Gold Mining Co.NL, 1920, and Youanmi Gold Mines Ltd., 3 different types, 1912, and 1935 (2), a handful with condition problems otherwise generally fine to very fine. (23) £400-500

292 Lake Bathurst Australasian Gold Mining Company, 10 shares of £1, undated but circa 1852, no.311-320, black, fine to very fine and scarce. £80-100 A London Cost Book company formed in the wake of gold discovery in New South Wales.

293 Land Company of Australasia Ltd., a group of £100 5% debentures (29), 1889, handsigned by John Charles Thynne as director, large format pieces with ornate border, black with green underprint, printed by Waterlow Bros & Layton, with coupons, a couple with uneven edges where coupons removed otherwise mostly extremely fine. (29) £180-220

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294 Melbourne and Avoca Gold Mining Company Regd., £4 shares, 187[1], no.358, together with Bonus shares, 187[1], no.213, both issued to the same shareholder, small format, black, capital original £10,000 then increased by the issue of bonus shares later the same year, very fine. (2) £120-150

x296 Penguin Silver Mines Company, Reg’d, Tasmania, £1 shares, 187[0], no’s 53551-53600, pale blue printing by Harris & Just of Launceston, about extremely fine. £120-150

297 Western Australia: An interesting group of mining certificates, comprising Florence Gold Mine Ltd., Menzies, £1 shares, 189[9], black on pink; Emperor Gold Mines Ltd., Murchison Gold Field, 10/- shares, 189[8], green; Continental & Western Australian Trust Ltd., £1 shares, [1901], black, and, Peel River Land & Mineral Co. Ltd., consolidated stock, 19[10], black, the third with two punch holes at left otherwise about very fine and better. (4) £100-120

295 Monitor Gold Mining Co., Regd, Western Creek, £5 shares, 186[5], no.280, usual small format, blue, printed in Smythesdale, slight foxing, very fine. £60-80

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FIJI

298 Mango Island Company Limited, 6% Debenture for £100, 1882[3], no.185, arms at top, ornate border, black, printed in Melbourne, good very fine. £60-80

301 New Zealand Consolidated Gold Mines Ltd., bearer warrant for 5 shares of £1, London 19[04], no.271, attractive piece with vignettes of Maori warriors, green and black, printed by Eden Fisher & Co., with coupons, good very fine. £80-100

One of the largest privately owned islands in the Pacific.

The company owned a large sugar plantation and sugar mill which was closed in 1895. Actor Mel Gibson bought the island in 2005.

NEW ZEALAND 299 New Zealand Gold Mining: A pair of certificates comprising, Taitapo Gold Estates Ltd., £1 shares, [1899], no.689, small vignette of Maori warrior by title, blue-grey, and Ethel Reef Gold Mining Co., 5/shares, 189[8], no.638, ornate border, blue-green, the last with a couple of edge tears, very fine. (2) £60-80 300 New Zealand: A group of five mining companies comprising;, Premier Sunrise (New Zealand) Gold Mining Co. Ltd., 2 shilling shares, 190[2], no.30; Taitapu Gold Estates Ltd., £1 shares, [1899], no.36, small Maori under title; London & New Zealand Exploration Co. Ltd., £1 shares, [1900], no.1445, small Maori in scrollwork at left; Scotty’s Gold Mine Ltd., 5 shilling shares, 189[8], no.609, and, Kathleen Crown Ltd., 2/6d shares, 190[0], no.245, generally very fine and better. (5) £140-160

302 Onslow Gold Company NL, Thames, Auckland, New Zealand, £1 shares, 18 shillings paid, 18[89], no.107 gold and black, printed in Melbourne, about extremely fine and rare early New Zealand piece. £60-80

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CANADA

303 Government of Quebec, 41⁄ 2 % Loan, 1880, bond for 500 francs or £20, Quebec 1880, no.11866, coat of arms in centre, black with green ‘500 Frs’ and ‘£20Stg’ in centre, text in French and English, hole cancels through signatures, good very fine and a recent discovery. £60-80

306 Newfoundland Railway Company, a consecutive pair of certificates for 10 shares of $100, 188[3], numbers A1621 and A1622, very attractive vignette of steam train pulling into a busy station, black and brown, filing holes at left, extremely fine. (2) £60-80 307 Qu’Appelle, Long Lake and Saskatchewan Railroad and Steamboat Co., guaranteed 4% mortgage debenture stock, a group of three fractional certificates for 1/20th, 1/4th and 1 half of a pound, all dated 1906 which has been crossed out and replaced by hand with 1929, red, green and black respectively, printed by Waterlow & Sons, very fine and rare. (3) £60-80

x304 Province of Canada, County of Oxford, £100 debenture in aid of the Great Western Railroad Co., 18[51], attractive piece with young head of Queen Victoria in centre, steam train at bottom, black, with coupons, about extremely fine. £100-120

To our knowledge no other paper has been seen from this company.

305 Levis and Kennebec Railway Co., Quebec, 7% sterling debenture, £100, 18[76], no.2975, vignette of steam train, black, heavy ornate blue underprint, red paper seal, about extremely fine. £80-100 WWW.spiNK.Com

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November 29, 2012 - LoNdoN 308 British Columbia Breweries Ltd., 5 shares of $100, 19[13], no.B00633, lovely vignette of brewery, river and bridge, ornate border, mauve and black, no printer’s imprint but certainly of Waterlow or Bradbury quality, English duty stamp, spike/staple hole at bottom left, very fine. £60-80

EUROPE BELGIUM

x310 Compagnie des Installations Maritimes de Bruges S.A., preference share of 500 francs, Bruges 1904, no.5049, a beautiful multicoloured certificate with three views of the city, coat of arms and winged allegorical female holding a large anchor, plan of the docks below, with coupons, uncancelled, extremely fine £100-120

309 Dominion Sawmills and Lumber Ltd., a group of four 6% mortgage debntures fro £100, 1910, large format pieces with vignette of factory with logs floating along the river, beaver at top, brown and black, printed by Waterlow & Sons, with coupons, very fine and better. (4) £100-120

x311 Compagnie des Installations Maritimes de Bruges S.A., preference share of 500 francs, Bruges 1904, no.7098, a beautiful multicoloured certificate with three views of the city, coat of arms and winged allegorical female holding a large anchor, plan of the docks below, with coupons, uncancelled, extremely fine £100-120

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x312 Compagnie des Installations Maritimes de Bruges S.A., 500 franc bond, Bruges 1909, no.4874, a beautiful certificate with three views of the city, coat of arms and winged allegorical female holding a large anchor, plan of the docks below, brown and blue, with coupons, uncancelled, extremely fine £80-100

314 Société Anonyme des Usines Delin, ordinary share of no par value, Louvain 1898, no.2661, very attractive piece with vignettes of automobile and cyclists at bottom, wheel and coat of arms at top left, brown with pale blue underprint, with coupons, good very fine. £60-80

x313 Compagnie des Installations Maritimes de Bruges S.A., 500 franc bond, Bruges 1909, no.4869, a beautiful certificate with three views of the city, coat of arms and winged allegorical female holding a large anchor, plan of the docks below, brown and blue, with coupons, uncancelled, extremely fine. £80-100

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x316 Société Royale de Zoologie d’Horticulture et d’Acrement de Bruxelles, nominative certificate for 1 share, [1859], no.625, classic design with stone archway with various animals including a tiger, snake and crocodile, black, yellow underprint, split along centre fold and tear at top edge, mount marks on the reverse, about very fine. £120-150

315 Societé du Commerce d’Asie & d’Afrique, 1000 florins share, [1781], no.1642, handsigned by Guillaume Bolts and Charles de Proli, black printing with manuscript insertions, receipts for four payments of 250 florins below, good very fine. £400-500

The zoo was founded in 1851. Shares exchanged for City of Brussels bonds in 1878.

Bolts was a Dutchman formerly in the employ of the English East India Company in Bengal. Following his departure he was awarded a 10-year charter by the Empress Maria Theresa of Austria for trading with India from the port of Trieste. He enlisted the help of Antwerp financier Charles Proli and the bankers I.C.I. Borrikens and D. Nagel, who also sign the document.

Despite the numerous voyages and the trading posts established in India the company was a financial disaster and following some serious disagreements Bolts agreed to hand the charter to the above newly formed company. The assets of the company were seriously overvalued by Bolts so the company suffered badly from lack of cash. Despite several voyages general conditions were against them and the company suspended payment in 1785.

x317 Société Royale de Zoologie d’Horticulture et d’Acrement de Bruxelles, nominative certificate for 1 share, [1859], no.1539, classic design with stone archway with various animals including a tiger, snake and crocodile, black, yellow underprint, split along centre fold and some minor tears at left edge, top left corner missing not affecting the design, about very fine. £100-120 x318 Trust Colonial S.A., a group of 38 certificates for 100 franc share, Brussels 1899, together with one dividend share, 1899, allegorical figures, red, the dividend share, turquoise, all with coupons, generally very fine to extremely fine. (39) £120-150

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BULGARIA

321 Banque de Rose, 100 leva share, Sofia 1917, no.11837, large ornate piece with vignettes of peasants, picking crops, distillery and river scenes, blue with salmon pink underprint, adhesive revenue stamp, no coupons, good very fine £60-80

319 A pair of Bulgarian Bank certificates comprising, Shumenska Bank, 100 leva share, 1921, allegorical figures at top and sides, brown, yellow and red, adhesive revenue stamp, and, Banque par Action “Napredak” a Plaven, 100 leva share, 1918, building at top, allegorical females at each side, brown and buff, no coupons, extremely fine and good very fine. (2) £100-120 x322 Bulgaria Soda and Lemonade Company, 100 shares of 100 leva, 1932, no.3437/5437, very attractive and colourful piece with peasants, wine bottles, soda syphons and bunches of fruit and berries, with coupons, very fine. £120-150

x320 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. £50-60 WWW.spiNK.Com

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x323 Société Anonyme par Actions ‘Aeroplane’ Plovdiv, 50 leva share, Plovdiv 1912, no. 1379, large format piece with three vignettes of monoplane, airfield and pilot sitting in cockpit, text in Bulgarian and French, blue and brown, with coupons, small cancellation holes, near extremely fine but with remains of mounts on reverse top edge £300-350

325 Société Nationale d’Assurances “Balkan”, 100 leva share, Sofia 1921, no.26915, very attractive piece printed by Waterlow & Sons with building in centre with city views at either side, green and black, with coupons, Bulgarian revenue stamps, good very fine. £60-80

x326 Bulgaria: An accumulation of certificates (38), including State Loans, banks, insurance, timber, printing and sugar, most are decorative with ornate borders and/or vignettes, some duplication but a very useful lot, generally very fine to extremely fine. (38) £200-300

x324 Société Anonyme par Actions ‘Aeroplane’ Plovdiv, 50 leva share, Plovdiv 1912, no. 1935, large format piece with three vignettes of monoplane, airfield and pilot sitting in cockpit, text in Bulgarian and French, blue and brown, with coupons, small cancellation holes in centre, good very fine. £350-400

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CZECHOSLOVAKIA

327 Akcionarskeho pivovaru na Smichove (Smichov Brewery Company), unissued 100 krona share, Smichov 1939, no serial numbers, very attractive piece with vignettes of the brewery buildings, barrels, hops and a king holding a goblet of ale, black, green, brown and yellow, no coupons, extremely fine. £100-120

329 Republic of Estonia (Banking and Currency Reform), 7% Loan, 1927, bond for £500, no.B070, of only 100 issued, large format piece with city view at top, ornate border, green and black, with coupons, very fine and rare. £100-120

ESTONIA 328 Republic of Estonia (Banking and Currency Reform), 7% Loan, 1927, a pair of bonds for £100, no.A3414 and X0935, large format pieces with city view at top, ornate border, both blue and black, with coupons, both with centre folds, the first with a couple of very small edge tears, very fine. (2) £120-150

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FINLAND

x331 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. £50-60

FRANCE

330 Republic of Estonia (Banking and Currency Reform), 7% Loan, 1927, bond for £1000, no.C098, of only 100 issued, large format piece with city view at top, ornate border, mauve and black, with coupons, left edge a little creased with some paper loss not affecting the design, about very fine. £120-150

332 Department of the Seine, 7% Sterling Loan, 1922, a specimen bond for £50 from the Bradbury, Wilkinson & Co. archive, large format piece with vignette of Paris, river and bridges, ornate border, red and black, overprinted ‘specimen’ in blue, with coupons, slight surface dirt and fold at lower left, good very fine. £60-80 83

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boNds aNd share CertifiCates of the WorLd x335 Compagnie du Chemin de Fer du Nord, an interesting group of 8 unissued or possibly specimen certificates dated 1856 through 1922 comprising 500 franc bond, 1856; another 1875 for the North Belgian lines; 500 franc bonds, 1890, 1896 and 1900; 500 franc 3% bond, 1922; 1000 franc 4% bond, 1922 and 500 franc 6% bond, 1922, all with ornate borders but no vignettes, with all coupons, not numbered, very fine to extremely fine. (8) £60-80

333 Canal de Richelieu, certificate for one share, Paris [1752], no.3405, attractive early piece with ornate caligraphy, black, a good plate impression, almost extremely fine. £400-500 Formed to cut a canal from the River Durance through to the Mediterranean which proved to be far too expensive and the project was abandoned after building just 4 kilometers.

336 Marseilles Extension Railway and Land Co. Ltd., £20 shares, part paid, 186[6], no.10301-10308, attractive border, coats of arms of Great Britain and France (Second Empire) with that of Marseilles in the centre, mauve, text in English and French, folds, fine to very fine. £60-80

334 Concession du Canal et des Marais de la Dive (Soc. Kayser Bacquard & Cie.), 1000 franc share, Paris 1831, no.1816, attractively printed piece with name in left margin, black, about extremely fine. £60-80 WWW.spiNK.Com

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337 Orleans Railway Company (Chemin de Fer de Paris a Orleans), 6% Sterling Loan, 1922, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, large format piece with vignette of large station building alongside river, green and black, with coupons, hole perforations across face, issued jointly

by Morgan Grenfell & Co. and N.M.Rothschild, centre fold otherwise extremely fine. £60-80

338 P.L.M.Railway (Chemin de Fer de Paris a Lyon et a la Mediterranee), 6% Sterling Loan, 1922, a specimen bond for £500 from the Bradbury, Wilkinson & Co. archive, large format piece with reproduction of plaque depicting allegorical females ferro conjungit, below, orange and black, with coupons, red specimen, overprint, issued by Barings and J.Henry Schroeder, about extremely fine. £60-80

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339 The Aeolian Company S.A. Française, 100 franc share, Paris 1923, no.6562, ornate border with vignettes of organs, a pianola with rolls, gramophone player and records, large vignette of piano showroom in underprint, blue and yellow-brown, with coupons, good very fine. £70-90 341 Automobiles Charron Girardot & Voigt, 100 franc share, Puteaux 1902, no.14130, attractive piece with vignettes of motor cars, bus and river boat, green and yellow, with coupons, several endorsements on face and small hole cancellations, extremely fine. £60-80 The three originators were successful racing drivers. Cars were produced from 1901 to 1930, controlled by an English company (Charron Ltd.) from about 1907.

340 Association Phonique des Grandes Artistes, 100 franc share, Paris 1906, no.2999, one of the most beautiful of French certificates designed by Paul Poncet in Art Nouveau style with bare breasted female seated holding a phonograph and with a box of records by various artists at her feet, Opera house in background, musical instruments at right, with coupons, tiny repaired tear at top edge, very fine. £350-400 The company was founded by major opera and musical stars of the period to maximise their profits from their own work. The founders were soon joined by many other artists including some from outside France.

Unfortunately the company was in financial difficulties by 1910 and was wound up passing to the control of Pathé Freres. Their records are some of the best produced during the Edwardian period.

342 Cinema-Banque S.A., 100 franc share, Paris 1909, no.1618, ornate border with allegorical female bottom centre, coats of arms of several nations within border, blue and brown with yellow underprint, with coupons, about extremely fine. £100-120

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November 29, 2012 - LoNdoN x343 Compagnie des Claridges Hotels, a group of certificates for 100 franc shares, 19[14] and 19[19], capital 1,000,000 francs and 1921, capital 7,500,000 francs (4 examples), multicoloured piece with steamship at left and steam train at right, red and yellow, with coupons, one of the 1921 is badly damaged, the remainder very fine. (6) £100-120

345 Compagnie de Voitures Nouvelles de Paris, 500 franc share, 1881, no.6301, horse drawn Brougham at bottom, horses head with blinkers at top surrounded by horse shoes, horse accountrements at each side, black with grey underprint, with coupons, a few neatly repaired edge splits, about very fine. £150-180

344 Compagnie des Voitures du Grand Hotel S.A., 100 franc share, Paris 1899, no.4076, Grand Hotel at top with horse drawn coaches at either side, attractive Art Nouveau border, blue and brown, with coupons, good very fine. £250-280

346 Compagnie Generale de la Laiterie Parisienne, 500 franc share, Paris 1860, no.104, attractive piece with farm, females pouring milk and making butter, implements and city building, black with green underprint, with coupons, very fine. £80-100

347 COTY S.A., 100 franc share, Paris [1928], no.7022, winged lion at top, bird in shield at bottom, grey black, with coupons, extremely fine. £60-80 Company founded by Francois Spoturno in the early 20th century. Francois took his mother’s maiden name of Coty rapidly creating a household name. Coty died in 1934 but his family remained in control until the 1960’s.

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348 Etablissements Cde Brun-Perod & Cie., ‘part bénéficiare’, Voiron [1933], no.418, attractive border of stylised dolphins, cherubs and foliage, grey with pink underprint, with coupons, very fine to extremely fine. £60-80 349 Euro Disneyland S.C.A., a group of certificates for one ordinary share of 10 francs, 1989, Mickey Mouse with globe in centre, blue and black with pink underprint, with coupons, extremely fine. (25) £100-150

350 Grand Casino Municipal de la Ville de Biarritz, 100 franc share, 1900, no.10576, ornate Casino building by seafront at top left, woman in bathing suit below, arms at bottom right, dark blue on light green underprint, printed by B. Arnaud, double mounted, framed and glazed in gilt frame, but looks extremely fine. £60-80

351 Imprimerie de la Dordogne, Ancienne Maison Dupont & Cie. S.A., 500 franc nominative share, Perigueux 18- (circa 1892), no.522, very colourful piece with presumably Mr. Dupont at top left, winged cherubs at bottom, brown, orange and pale blue, with coupons, shareholders name left blank and date not complete but must be fully issued as both signatures are present and a few coupons have been paid, almost extremely fine. £250-300

352 L’Affichage en Vagons S.A., 100 franc share, Marseille 18[90], no.0793, interesting vignette of steam engine and wagons which display advertising, blue and black, with coupons, extremely fine. £60-80

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353 L’Union Francaise de Mines, 100 franc bond, Paris 1881, no.444, lovely piece with vignettes of mining, above and below ground, sailing ships at dockside and panoramic view of town, black with yellow underprint, with coupons, extremely fine. £60-80

355

354 La Vinicole Foezienne S.A., 100 franc share, Saint Etienne 1899, no.4, a lovely certificate with numerous vignettes of winery, vineyards, bottles, barrels and hops, brown and yellow, with coupons, good very fine. £200-250 355 Moulin-Rouge Music Hall et Bal S.A., founders share, Paris 1910, no.3738, vignette of the now famous windmill atop the Music Hall, crowds of people with automobiles outside, red, with coupons, heavy folds but good fine and rare £1,800-2,000

356 Paris - France S.A., 500 franc share, 1927, no.129950, classic Art Nouveau design by Alphonse Mucha, dark mauve with yellow underprint, with coupons, hole cancelled, about extremely fine. £300-400

Built in 1889 by Joseph Oller who also owned the Paris Olympia. Famed as the birthplace of the cancan, originally a seductive dance performed by courtesans to tempt their clientele, it soon became part of the show and led to ‘cabarets’ being introduced across Europe.

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359 Paris Hippodrome Skating Rink Co. Ltd., bearer warrant for 5 x £1 shares, 19[09], no.1023, lovely Art Nouveau vignette of skaters, green, brown and black, text in English and French, red seal, with coupons, slightly dirty surface but very fine and rare. £200-250 357 Paris - France S.A., 6% Loan, 1927, bond for 500 francs, no.34699, classic Art Nouveau design by Alphonse Mucha, brown with yellow underprint, with coupons, hole cancelled, about extremely fine. £300-400

360 S.A. Caudrésienne de Blanchiment, Teintures & Apprets, 500 franc share, Caudry 1898, no.0546, of only 1000 issued, beautiful borders depicting all processes of bleaching and dyeing cloth, green and black with pink underprint, with coupons, good very fine. £250-280

358 Paris - France S.A., 41⁄ 2 % Loan, 1930, unissued bond for 1000 francs, classic Art Nouveau design by Alphonse Mucha, grey-green with pink underprint, no serial number and no signature of administrator, with coupons, fold at right otherwise about extremely fine. £400-500 WWW.spiNK.Com

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364 Soc. des Usines Metallurgiques Reunies de Septemes, 250 franc share, 1853, no.12422, interesting border consisting of naked dwarves breaking rock and allegorical figures, black, grey underprint, with coupons, about extremely fine. £120-150

361 S.A. des Forges & Acieries du Bazacle procedes Nartin-Siemens, 500 franc share, 1877, no.2552, very pretty piece with ornate border depicting industrial scenes, steam train, steamship and factories, orange brown and pale blue, with coupons, very fine. £80-100

362 S.A. Immobiliere de la Station Balneaire de Beauvallon (Golfe de Saint Tropez), 500 franc share, Paris 19[21], no.02168, lovely vignette of large hotel close to the shoreline with steam train approaching, foliage at sides, green, with coupons, extremely fine. £60-80

365 Soc. Francaise des Plaques & Produits Photographiques du Dr. E. Clement, 100 franc share, Paris 1906, no.7221, atractive design in Art Nouveau style with foliate border with red berries and allegorical females, blue and red with pale green underprint, with coupons, good very fine. £60-80

x363 S.A. Petit Journal, a group of 27 certificates for one share of 500 francs, 1896, attractive border with printing press, allegorical figures, dockside views, ploughing etc., black, yellow underprint, with coupons, generally very fine and better. (27) £120-150

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366 Societe de Produits Ceramiques de St. Henry, founders share, Marseille 190[1], no.3251, attractive piece with panoramic view of the factory, allegorical female with urn, presumably produced by the company, black with yellow underprint, with coupons, extremely fine. £60-80

368

367 Soc. des Restaurants Maire & Pavillon de l’Elysee, 100 franc share, Paris 1901, no.8977, lovely Art Nouveau design engraved by E. Duvoye, restaurants in top left and right corners, allegorical females in bottom corners, black and pale green, with coupons, centre fold otherwise about extremely fine. £150-180 368 Soc. Nouvelle de L’Hotel Westminster, a group of 100 franc bonds, 2nd series, 1933, attractive design depicting the Houses of Parliament and the tower of Big Ben in London, green, with coupons, the top two have some edge problems otherwise generally extremely fine and better. (72) £80-100 Hotel in the Rue de la Paix in Paris, named after the Duke of Westminster who stayed there in the 19th century.

x369 Société du “Maréorama Hugo d’Alesi”, 100 franc share, Paris 1899, no.1344, beautiful piece with classically dressed figures looking out over a Mediterranean scene, two flagpoles at left, blue and blue-green, with coupons, about extremely fine. £100-120 Built for the Paris Exposition of 1900 this attraction was created by poster artist Hugo d’Alesi and simulated a sea voyage between Marseille and Yokohama. The set took up to ‘700’ passengers on a moving platform with paintings on rollers on each side with views of Algiers, Naples and Istanbul amongst many others.

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November 29, 2012 - LoNdoN 370 Société du “Maréorama Hugo d’Alesi”, 100 franc share, Paris 1899, no.7075, beautiful piece with classically dressed figures looking out over a Mediterranean scene, two flagpoles at left, blue and blue-green, with coupons, about extremely fine. £120-150 See previous lot for details.

372 Usines d’Automobiles G. Brouhot, 100 franc share, Paris 1906, no.20274, attractive ‘art nouveau’ piece with lady at the wheel of motor car, large allegorical figures at either side, green, brown and yellow, with coupons, good very fine. £60-80 Produced motor cars from 1898 to 1910 and marketed at least one model in England as the Club.

371 Theatre Rejane S.A., a pair of nominative certificates for 1000 franc shares, Paris [1907], numbers 253 and 254, of only 400 issued, in the name of Baron Edmond de Rothschild, ornate border, black, with coupons; together with other miscellaneous certificates (26), mainly French and American, but including Chemin de Fer du Sud de L’Espagne, 1891, generally very fine and better. (28) £80-100 Previously a skating rink, part was sold and became the Palace Theatre, then the Casino de Paris. The rest of the Rink was demolished and the Nouveau Theatre was built. Purchased in 1907 by Gabrielle Rejane who renovated it and renamed it Theatre Rejane.

Subsequently sold to Leon Volterra in 1918 where he created Theatre de Paris.

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GERMANY

374 City of Dresden, 51⁄ 2 % sterling Loan, 1927, bond for £500, no.3795, of only 360 issued, ornate border, red and black, printed by Charles Skipper & East, with coupons, slightly ragged left edge but very fine and rare. £200-300 373 City of Cologne, 6% Sterling Loan of 1928, a specimen bond for £500, from the Bradbury, Wilkinson & Co. archive, large format with lovely view of Cologne Cathedral at top, ornate borders, orange and black, red circular Bradbury specimen stamp at bottom, with coupons, slightly grubby left edge, extremely fine. £80-100 The original £500 bond of this loan was printed in orange, as this example. When the terms of the loan were changed in 1959 new bonds were printed in red, with additional text at the lower section and an endorsement across the face, and then exchanged for the originals.

Issued bonds in this original colour have not been seen.

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375 Free State of Saxony, 6% Sterling Loan of 1927, bond for £500, no.C7630, of only 350 issued, large format piece with allegorical female at top, ornate border, brown and black, printed by Bradbury, Wilkinson & Co., with coupons, old tape repairs at top left otherwise about very fine and scarce. £150-200

x377 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, very fine and scarce. £200-250

376 Actien-Bauverein “Passage”, 1200 Reichsmark share, Berlin 1912, no.16351, classic attractive piece with vignette of the enclosed arcade flanked by allegorical figures, olive green and black, almost extremely fine. £120-150

378 Gewerkschaft Reichsland, Kux-Schein, Mulhausen 1911, no.893, ornate border, black with pink underprint, 4 pages, extremely fine. £60-80 95

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GIBRALTAR

379 Gibraltar Gas Company, 50 dollar share, Gibraltar [1857], no.1426, attractive vignette of Rock of Gibraltar with many sailing craft, black, handwritten endorsement on reverse, very fine and rare. £180-220

GREECE x380 Greece; A small collection of certificates, comprising Compagnie d’Assurances Generales S.A., 500 drachma share, Athens, 1929, beehive at top, text in Greek and French; Credit Athenien S.A., 25 shares of 100 drachma, Athens 1925, large ancient Greek coin in centre; Canal Maritime de Corinthe, 500 franc bond, Paris 1888, small format piece with map at top, and two others, 1922 and 1962, generally very fine and better. (5) £60-80

381 Greek Government 5% Loan of 1825, bond for £100, no.1041, signed as contractors by J & S Ricardo, ornate border, Athena at top, blue-grey printing, with coupons from 1842, slight foxing but very fine and exceptionally rare. £300-400 382 Kingdom of Greece, 4% Consoldated Gold Rentes, 1889, bond for £100, no.18903, very large format piece with Greek arms at top, ornate border, text in Greek, English, French and German, green and pink, printed by Waterlow & Sons, with coupons, together with a small selection of other sterling bonds comprising Greek Government 6% stabilisation and Refugee Loan of 1928, £500, this with surface damage, £100, 2 examples; Kingdom of Roumania, 4% Consolidation Loan, 1922, £1000, this with bottom edge damage, and £100, and Kingdom of Bulgaria, 7% settlement Loan of 1926, £100, all with coupons, the first with heavy centre fold and a few edge tears but only in the margins, good fine, the rest fine to very fine. (7) £100-120 x383 Kingdom of Greece, Guaranteed 21⁄ 2 % Gold Loan of 1898, a group of 75 bonds for £100, Hellenistic border, arms at center, Greek gods below, Doric columns at bottom, blue with light blue underprint, hole cancelled, without coupons, generally about uncirculated. (75) £120-150

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387 Hellenic Republic External Sinking Fund 8% Gold Loan, 1925, bond for $1000, no.9676, allegorical figures at top, ornate border, green and black, with certificate as to assent to the plan of reorganisation dated 1962 and its coupons from 1988, pinholes and small split at folds, fine to very fine and rare. £80-100

384 Greek Government 7% Refugee Loan of 1924, a pair of bonds for $500, no.D0643 and $1000, no.M03027, refugee woman with children at top, ornate borders, blue and green respectively, text in English and Greek, with coupons, several of which are reattached showing part payment, with blue certificates denoting US ownership, the $500 with some edge damage, fair, the $1000 with edge tear at top, about very fine, both rare. (2) £150-200

388 Hellenic Republic External Sinking Fund 8% Gold Loan, 1925, bond for $1000, no.1112, allegorical figures at top, ornate border, green and black, with certificate as to assent to the plan of reorganisation dated 1962 and its coupons from 1988, pinholes and small split at folds, fine to very fine and rare. £80-100

385 Greek Government 7% Refugee Loan of 1924, bond for $1000, no.M03591, refugee woman with children at top, ornate borders, green, text in English and Greek, with coupons, several of which are reattached showing part payment, with blue certificate denoting US ownership, split at centre fold, very fine. £80-100

389 Hellenic Republic External Sinking Fund 8% Gold Loan, 1925, a group of 9 bonds for $1000 each, allegorical figures at top, ornate border, green and black, with certificates as to assent to the plan of reorganisation dated 1962 and coupons from 1988, mixed condition with pinholes and edge tears/splits, fine to about very fine and rare. (9) £400-600

386 Greek Government 7% Refugee Loan of 1924, a group of 16 bonds for $1000, refugee woman with children at top, ornate borders, green, text in English and Greek, with coupons, several of which are reattached showing part payment, many with blue certificate denoting US ownership, several with edge tears and damage, poor to about very fine. (16) £500-600

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390 Greek Government 40-Year 6% Sinking Fund Gold Loan, 1928, bond for $500, no.2348, goddess Nike at top, ornate border, orange and black, text in English and Greek, with coupons, several stamped ‘40% paid’ and reattached, with blue certificate denoting US ownership, small tears at left edge, fine to very fine and rare. £80-100

391 Greek Government 40-Year 6% Sinking Fund Gold Loan, 1928, a group of 7 bonds for $500, goddess Nike at top, ornate border, orange and black, text in English and Greek, with coupons, several stamped ‘40% paid’ and reattached, with blue certificate denoting US ownership, mixed condition, many with edge tears, generally fine, some better. (7) £300-400

392 Greek Government 40-Year 6% Sinking Fund Gold Loan, 1928, bond for $1000, no.15167, goddess Nike at top, ornate border, mauve and black, text in English and Greek, with coupons, several stamped ‘40% paid’ and reattached, couple of small edge nicks, about very fine and rare. £80-100

393 Greek Government 40-Year 6% Sinking Fund Gold Loan, 1928, bond for $1000, no.13386, goddess Nike at top, ornate border, mauve and black, text in English and Greek, with coupons, several stamped ‘40% paid’ and reattached, with blue certificate denoting US ownership, a little surface marking otherwise very fine. £80-100

394 Greek Government 40-Year 6% Sinking Fund Gold Loan, 1928, a group of 7 bonds for $1000, goddess Nike at top, ornate border, mauve and black, text in English and Greek, with coupons, several stamped ‘40% paid’ and reattached, mixed condition, many with edge tears, generally fine. (7) £250-300

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November 29, 2012 - LoNdoN 397 Ionian Bank Ltd., a set of bearer share warrants for 1, 5, 10 and 50 shares of £5, 19[26], no.A0122, 19[26], no.B0310, 19[26], no.C0092 and 19[24], no.D0051, capital £600,000, winged lion with shield, ornate borders, green, red, blue and brown respectively, all with one coupon and talon remaining, stamped ‘Transferred’ in small letters, good very fine and better. (4) £120-150

395 Banque d’Orient S.A., a group of 5 certificates for 125 franc shares, Athens 1925, numbers 214493 to 214496 and 217404, ornate border, blue and black, Greek adhesive revenue stamps, with coupons from 1931 (no.50) but missing coupon 55, very fine to extremely fine. (5) £250-300

398 Ionian Bank Ltd., a set of bearer share warrants for 1, 5, 10 and 50 shares of £5, 19[26], no.A0121, 19[24], no.B0022, 19[26], no.C0091 and 19[24], no.D0043, capital £600,000, winged lion with shield, ornate borders, green, red, blue and brown respectively, all with one coupon and talon remaining, stamped ‘Transferred’ in small letters, good very fine and better. (4) £120-150 399 Ionian Bank Ltd., a set of bearer share warrants for 1, 5, 10 and 50 shares of £5, 19[26], no.A0120, 19[24], no.B0021, 19[26], no.C0090 and 19[24], no.D0044, capital £600,000, winged lion with shield, ornate borders, green, red, blue and brown respectively, all with one coupon and talon remaining, stamped ‘Transferred’ in small letters, the first a little grubby at left edge, the last with small edge tear at bottom, very fine. (4) £120-150

396 Ionian Bank Ltd., a set of bearer share warrants for 1, 5, 10 and 50 shares of £5, 19[26], no.A0123, 19[24], no.B0023, 19[26], no.C0093 and 19[24], no.D0049, capital £600,000, winged lion with shield, ornate borders, green, red, blue and brown respectively, all with one coupon and talon remaining, stamped ‘Transferred’ in small letters, good very fine and better. (4) £120-150 99

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400 Ionian Bank Ltd., a set of bearer share warrants for 1, 5, 10 and 50 shares of £5, 19[30], no.A0217, 19[38], no.B0447, 19[39], no.C0397 and 19[38], no.D0242, capital £1,000,000, winged lion with shield, ornate borders, green, red, blue and brown respectively, all with one coupon and talon remaining, stamped ‘Transferred’ in small letters, generally very fine. (4) £120-150

401 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) £80-100

402 National Mortgage Bank of Greece, 7% Sterling Mortgage Loan, a group of 3 bonds for £100, 1927, numbers 13757, 13758 and 13759, large format pieces with Greek goddess at top, ornate border, green and black, printed by Bradbury, Wilkinson & Co., text in English and Greek, endorsement of reorganisation in 1935, with coupons, very fine and better, scarce. (3) £100-120

x403 Soc. Athenienne d’Automobiles “Athena” S.A., a fine trio of certificates for 1 and 5 shares of 100 drachma, 1st issue, 1920, capital 20,000 shares, and 25 shares of 100 drachma, 1924, capital 40,000 shares, lovely designs with Athena in centre flanked by an open touring car and a Sedanca de Ville, green and orange with pink underprint and green underprint, and green and brown, adhesive duty stamps, with coupons, the first with minor tears at top edge, about extremely fine. (3) £120-150

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HUNGARY

405 “Kosmos” Muintezet, 100 forint/200 kroner share, Budapest 1895, no.11695, beautiful piece in rather typical Hungarian style with allegorical figures, brown and yellow, 4 pages, with coupons, very fine to extremely fine. £300-400

404 Weaving and Dying Company Ltd., Th. D. Velissaropoulos and Brothers, a set of certificates for 1, 2, 10 and 25 shares of 500 drachma each, Syra 1932, attractive pieces with cockerel logo in centre flanked by the company’s factories, text in Greek and English, with coupons, all with Greek revenue stamps, the last with a couple of edge tears, very fine to extremely fine. (4) £60-80

x406 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. £100-120

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ICELAND

x407 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. £100-120

408 Hlutafelaginu “Sindri”, 100 kroner share, Reykjavik 19[27], no.9, attractive piece with fishing boat in centre, Icelandic dwarf making a ships anchor at top, border of rope, netting and seaweed, blue and brown, adhesive revenue stamps at top, about extremely fine and rare. £350-400

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ITALY

MONTENEGRO

x409 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. £60-70

411 Principality of Montenegro, 5% Loan, 1909, bonds for £20, no.3600, allegorical female at top, ornate borders, blue and black with pink underprint, printed

by Waterlow & Sons, with coupons, very fine and uncancelled. £80-100

410 Tramways a Vapeur des Provinces de Vérone et Vicence, one share, Brussels 1905, no.00381, Roman amphitheatre at Verona at bottom, arms of Belgium and Italy at top, allegorical figures and other shields around border, blue, text in French and Italian, cancelled, extremely fine. £60-80

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NORWAY

x412 Norges Bank, share of [50] speciedaler, Trondheim 18[20], no.3021, plain black printing, 4 pages, numerous endorsements inside and later on the face dating up to 1928, stamped and hole cancelled, has been professionally restored at edges where paper has worn away, fine and rare. £5,000-6,000 Norway’s central bank was established in 1816 by the Norwegian parliament to take responsibility for all currency issues of the country. Projects for it’s 200 year anniversary include a definitive history of the bank to be published in Norwegian and English.

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POLAND

PORTUGAL

414 Real Erario de Lisboa (Royal Treasury), 6% Loan, 18[01], 100 milreis, no.3064, an early printed certificate with denomination inserted by hand, black printing on thick paper, 4 pages, slight spotting, very fine. £120-150

413 Polish Industrial Mortgage Credit Association (Towarzstwo Kredytowe Przemyslu Polskiego), 8% mortgage bond for £100, guaranteed by the Polish Government, 1926, no.6210, allegorical female with industrial scenes in background, orange and black, printed by Waterlow & Sons, with coupons, extremely fine. £60-80

The loan was raised for military purposes at the beginning of the civil war between Emperor Pedro of Brazil and his brother Miguel who had seized the Portuguese throne in 1796.

415 A group of 5 different Portuguese Government bonds comprising; Consolidated 1940 4% loan, 2000 escudos, stylised buildings at top, orange-brown; Consolidated 1942 3% Loan, 1000 escudos, D Luis de Menezes at top, blue, 2 examples, one original issue, one replacement issue circa 1970; 10,000 escudos, brown, and 1943 Consolidated 23⁄4% Loan, 1000 escudos, steel worker and farm worker at top, factories behind, blue-grey, all but the first with coupons, extremely fine. (5) £80-100

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416 Banco Industrial Portugues S.A., 100 escudo share, Lisbon 19[21], no.861, lovely design of allegorical figures, ornate border, green, good very fine. £150-180

x417 Companhia Agricola Bango, 10 shares of 50 milreis, Lisbon 1901, no.1851-1860, palm tree rising the full height of the certificate with foliage stretching across the top, grey-green, 4 pages, only 4500 shares authorised so probably of 200 or 300 of this denomination issued, good very fine and scarce. £60-80

418 Companhia das Aguas Medicinaes do arsenal de Lisboa, a set of 3 certificates for 5, 10 and 50 shares of 10 reis, Lisbon 1920, ornate border, vignette of large building in centre, green, yellow and orangebrown respectively, 4 pages, about extremely fine, the 50 shares scarce. (3) £150-200

419 Companhia de Adubos Invicta S.A., 20 shares of 100 escudos, Lisbon 1923, no.1951-1970, attractive border, large cross at top right, mauve, blue and red, 4 pages, good very fine. £100-120

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420 Companhia de Credito Edificadora Portugueza, 25escudo share, Lisbon 19[12], no.1891, a large format piece with huge vignette in centre of street scene with building in progress, black with pink underprint, good very fine. £100-120 422 Companhia Nacional de Caminhos de Ferro S.A., one share of 15 reis, Lisbon 1903, no.12883, vignette of tank locomotive, ornate border in Art Nouveau style, green, very fine. £50-70 423 Companhia Nacional de Caminhos de Ferro S.A., ten shares of 15 reis, Lisbon 1903, no.12901-12910, vignette of tank locomotive, ornate border in Art Nouveau style, red, slight foxing, very fine. £60-80 424 Companhia Portugueza de Seguros - Meridional, 5 shares of 100 escudos, Lisbon 1918, no.430-434, ornate border with company logo at top between allegorical figures, blue and green, 4 pages, very fine to extremely fine. £100-120

421 Companhia de Seguros Acoriana, 50 reis share, Ponta Delgada 1895, no.3315, eagle on perch at top, ornate border, black, blue duty stamp, 4 pages, very fine. £60-80 107

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425 Cooperation Economia & Popular Arrudense S.A., one share of 10$00 escudos, Arruda dos Vinhos 19[21], no.61, attractive architectural design at left and top, signed Bastoc? 1919, blue and red with yellow underprint, good very fine. £200-250

426

426 Empreza Agricola do Principe, a pair of certificates for 1 share and 10 shares, both 2nd issue, 1901, large format pieces with vignettes of administrative building and landscape intertwined with cocoa bean plant, black and brown, and red and grey-green respectively, several dividend stamps on the latter two, about extremely fine. (2) £80-100 427 Empreza Tauromachica Lisbonense, certificate for 1 share of 50$000, 1893, no.1806, very attractive large format piece with bullfighter at left, herdsmen right, underprint of bullring, bull’s head and implements at top, black & brown, 4 pages, about extremely fine. £400-500 Unissued pieces of this company are well known but issued examples are very scarce.

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428 Estabelecimentos Silva & Companhia, 5 shares of 100 escudos, Lisbon 1933, no.1031-1035, very attractive fishing piece with fisherman and allegorical female watching fishing boats in the bay, border consists of rope, fishing line and caught fish, green, 4 pages, good very fine. £150-180

x429 Fabrica de Faianças das Caldas da Rainha, certificate for one share of 20$000, Lisbon 1884, no.2078, 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, a little creased at top and bottom, good very fine. £1,200-1,500

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x430 Jardin Zoologico e d’Acclimacao em Portugal, 20$000 share, second series, 188[904], no.826, beautiful design with lion, zebra, ostrich, elephant and other animals around border, black, extremely fine. £120-150 x431 Jardin Zoologico e d’Acclimacao em Portugal, 20$000 share, second series, 188[904], no.733, beautiful design with lion, zebra, ostrich, elephant and other animals around border, black, extremely fine. £120-150

432 Sociedade de Habitacoes Salubres e Economicas O Lar Nacional, 100 escudo share, Lisboa 1920 over printed 1919, no.1328, attractive piece with border of numerous houses of varying size, large houses under title, brown with yellow underprint, 4 pages, very fine to extremely fine. £60-80

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ROUMANIA x433 Roumania: a small colourful group of certificates comprising, Societatea Comunala Tramvaielor Bucaresti, 5 shares, 1919, electric tramcar at bottom, allegorical figures at top, red, green and black, with coupons; Cladirea Romaneasca S.A., 500 lei share, 1919, allegory of queen wearing crown (2 examples); Romania Petrolifera fratia, 10 shares, 1924, oil gusher at left; Romania Forestiera, 5000 lei share, 1945, numerous vignettes around border; Banca Romaneasca, 500 lei share, 1911, ornate borders with peasant farmers; Government Loan, 1941, bonds for 5000 lei and 10,000 lei, borders of military vignettes, and, a small group of 30 certificates for 10 shares of 500 lei in Creditul Minier, 1923, these without coupons, generally very fine to extremely fine and an interesting lot. (38) £100-150 434 Roumanian 4% Consolidation Loan, 1922, a set of specimen bonds (excluding the £10 denomination) for £1000, £500, £100, £50 and £20 from the Bradbury, Wilkinson & Co. archives, large format pieces with vignette of peasant driving team of oxen, green, mauve, brown, red and orange respectively, text in English, French and Roumanian, about extremely fine.

(5) £250-300

435 Kingdom of Roumania Monopolies Institute, 7% Guaranteed External Sinking Fund Gold Loan, 1929, two bonds for $500, numbers 4213 and 4214, allegorical figures at top, green and black, not cancelled, with coupons; together with other certificates (25) including Brazil Railway Company, both shares and bonds, Hungary and Serbia, many very fine. (27) £80-100

434

437 Kingdom of Roumania Monopolies Institute, Stabilisation and Development Loan, 1929, a group of 11 bonds for £100 each, large format pieces with vignette of Bran Castle (one of the several locations for the Count Dracula legend), blue and black, with coupons, not cancelled, together with 41⁄ 2 % Internal Loan, 1913, a group of 21 bonds for 1000 lei, large format with farmer at left and his wife at right, black with pale blue underprint, with coupons, generally very fine and some better. (32) £150-180

436 Kingdom of Roumania Monopolies Institute, Stabilisation and Development loan, 1929, a group of 10 bonds for £100 each, large format pieces with vignette of Bran Castle (one of the several locations for the Count Dracula legend), blue and black, with coupons, not cancelled, a few edge nicks but generally very fine and better. (10) £120-150

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x438 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. £60-80

x440 A useful lot of Spanish certificates including Compania Anonima Astilleros de Pasajes de San Juan, 500 peseta share 1918, sailing ship and flag to left; Sociedad Anonima Astilleros de Tarragona, 1000 peseta share, 1918, early shipping in harbour; Catalana General de Credito, 100 pestas share, 1908, ornate border with allegorical figures; Banco Cooperativo del Comercio y de la Industria, 250 peseta share, 1920, allegorical figures, factory and shipping at top; Compania de las Hulleras de Ujo-Mieres, 5 shares of 25 pesetas, 1904, large vignette of miners at work; ‘Colon’ Compania Transaerea Espanola 250 pesetas bond, 1928, large airship at top (2 examples); Compagnie des Chemins de Fer de Madrid a Saragosse et a Alicante, 1900 reales share, 1859, attractive border with railway vignettes, and other certificates (27), some modern and some duplication, generally very fine and better. (35) £120-150

SPAIN 439 A group of Spanish mining companies comprising; La Suerte Soc. Minera en Hiendelaencina, quarter share, Madrid 185[5], couple of repaired edge tears; S.A. Minas de Alcaracejos, Bilbao 1[898], mine buildings at top left; Minas de Carmenes, Gijon 1903, large allegorical female with train in background; Cia. de las Hulleras de Ujo-Mieres, 5 shares, 1904, very large vignettes of coal miners at work underground at top, pushing carts above ground at bottom (2 examples); Cia Explotadora de la Mina “Prevision”, 50 peseta bond, Barcelona 1922, Virgin Mary at top left; S.A. la Argentiferas de Cordoba, Bilbao 1916, mine buildings at top, green; Cie Miniere de Marbella, 250 franc share, Brussels 1911; Cia Espanola de Minas del Rif, Madrid 1935, coat of arms at top (2 examples), and, 4 different certificates of Compania General de Minas y Sondeos, all 1901, mostly very fine to extremely fine. (14) £80-100

x441 Spanish 5% Perpetual Loan, 1836, bond for £200, no.5846, signed by Gabriel-Julien Ouvrard as Contractor, ornate scrollwork at left, coupons at right, black, small brown stain top centre, very fine to extremely fine. £60-80 Loan issued to aid Charles V during the Carlist Wars in his bid to acquire the throne of Spain.

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443 Real Compania de San Fernando de Sevilla, certificate for one share, 1748, no.2520, a classic design printed in black on vellum, view of the Port and City of Seville, Neptune, sailing ship and much more, intricate paper seal, with some pieces missing at the upper right, quite good margins and a strong print, very fine. £2,000-2,500 442 Real Compania de Filipinas, 250 peso share, 1785, no.13570, classic piece with architectural border with lion and cornucopia atop, elephant to the left and sailing ship to the right, allegorical females at bottom, black, good very fine and scarce £600-800

Formed in 1747 to trade with all the ports of South America except Caracas and Havana. Failed in the 1780’s.

Formed to provide the company a monopoly of trade between Spain and the Philippines in 1785. Absorbed the ailing Compania de Barcelona but due to pressure of the European Wars and financial mismanagement it was finally abolished in 1834.

444 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 £60-80 x445 Cia. de los Ferrocarriles Económicos de Villena a Alcoy y Yecla, certificates for 10 shares of 475 pesetas (4), and one preference share (5), 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. (9) £80-100

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x446 Editorial La Nacion S.A., nominative share for 1000 pesetas, series A, Madrid 1925, no.125, huge vignette designed by A. Sauri Sires in Art Nouveau style, brown, about extremely fine. £100-120

447 Electro Quimica d Teruel S.A., 1000 peseta share, Revs 1907, no.0365, an extremely large and striking piece in a cross between Art Nouveau and Art Deco style, signed ‘Thomas - Barcelona’, brown, buff and grey, with coupons, good very fine £120-150

448 Empresa Hidroforica, 369.50 peseta share, Reus 1907, no.324, large format piece with very large vignette of the water installation showing the river dropping water into a tree lined garden with fountains, dropping again onto a waterwheel, black, a little foxing, repaired tear at left 40mm, fine to very fine. £120-150

449 Hilaturas Navarro - Cabedo S.A., 5000 peseta share, Valenci 1927, no.0699, fabulous large design

by Marco Perez of various scantily clad figures by giant spiders web, bull and tree, printed in gold and black, the remainder brown with yellow underprint, with coupons, has been lightly trimmed but otherwise about extremely fine and scarce. £300-400

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x452 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. £60-80

450 La Segunda Carbonera de Cordoba Sociedad Minera, share number 119, Madrid 1855, attractive piece rather typical of Spanish mining shares of the period, mine building with smoking chimney, steam ships and allegorical figures, black, 4 pages, extremely fine. £60-80

451 Manufacturas de la Piel S.A., 500 pesetas preference share, Manresa 19[30], no.1972, colorful piece with classical figures holding a hide with what appear to be buffalo in the background, ornate border of leaves, orange, green and brown, with coupons, extremely fine. £60-80

453 Pickman S.A., Fabrica de Loza en La Cartuja de Sevilla, 3000 peseta share, Sevilla 1899, no.132, of only 600 issued, a large format, attractive piece with panoramic vignette of the riverside factory, buildings at left, blue-green, good very fine and rare. £200-250

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boNds aNd share CertifiCates of the WorLd 454 Sevilla Club de Futbol, 7% bond for 500 pesetas, sevilla 1957, no.59263, ornate border with coat of arms at top, underprint of the stadium, coupons at top and bottom, extremely fine. £80-100 455 Shipping: An attractive pair of certificates comprising;, Navegacion a Vapor Ybarra y Cia., Sevilla, 2000 peseta share, 1952, busy dockside at left, anchor and goods in bottom corner, ‘La Giralda’ at bottom right, and, Gumersindo Junquera S.A., 500 peseta share, Gijon 1956, company flag in centre with ornate ropework border with anchor and pulleys, both extremely fine. (2) £80-100

457 Sociedad Minera La Amistad, certificate for one share, Madrid 1852, no.17 - 3rd quarter, typical early Spanish design with ornate border with mining tools and windlass, several company articles are also reproduced within the border, black, 4 pages, good very fine. £60-80

456 Sociedad de Minas La Estrangera, certificate for one share, Murcia 1854, no.62, 3rd quarter, attractive and somewhat typical design with ornate scrollwork border, mining tools at top, windlass at bottom, black, 4 pages, about extremely fine. £60-80

458 Union de Armadores de Buques Pesqueros S.A., 500 pesetas ‘A’ share, Gijon 1926, no.1057, attractive piece with fishing boats at top with lifebelt and hooks, scrollwork designs at each side, blue-green, with coupons, extremely fine and scarce. £120-150

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SWEDEN

459 Royal 41⁄ 2 % Loan, 1792, bond for 1000 florins, no.339, issued by de Smets in Antwerp, black printing with 8 manuscript signatures, with coupons from 1809 to 1837, very fine and rare £350-450

460

460 City of Gotteborg, 5% Loan of 1878, a specimen gold bond for 800 kronor OR 900 Reichsmark from the Bradbury, Wilkinson & Co. archive, large format piece with City arms below title, ornate border, yellow and black, text in Swedish and German, with coupons, not stamped specimen but numbered 2963 which is one number above the last issued bond no.2962 so obviously printed for specimen purposes, slight surface marks at right edge, extremely fine and scarce. £100-120

x461 Gotha Canal, 100 riksdaler share, Stockholm 1833, 1888 reissue, no. 276, and no.275 allegorical figures with canal boat and lock in background, black, 4 pages, both with cancelled coupons from the 1960’s, the second with cut into back page, very fine. (2) £80-100

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GREAT BRITAIN Government and Municipal Loans

462 A rare and important Exchequer order of Payment, date 1592 authorising the repayment of several loans made to Queen Elizabeth in the total sum of ÂŁ3,157, signed by Lord Burghley and Sir John Fortescue, handwritten in typical Elizabethan style, on paper, a few worm holes and light staining but a most presentable piece. With a full transcript of the text and further biographical details of the signers. ÂŁ5,000-6,000 It was common practice for monarchs of this period to obtain monies on loan, often by command (and one did not want to disappoint the sovereign!) and often without interest. As this pre-dates the introduction of income tax it was one of the few ways of financing the numerous and expensive wars with Spain. Lord Burghley (William Cecil) was a statesman, advisor to the Queen and Prime minister for 40 years. He was to a great extent responsible for the execuction of Mary Queen of Scots. Sir John Fortescue was a cousin of Elizabeth I and Chancellor of the Exchequer in 1589.

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465 Irish Government Life Annuities, a 6% debenture certificate for £100, 2nd Class, Dublin 1776, no.78, black printing with manuscript insertions of the holder and, in this case, his female relative recently widowed, three folds, all of which have split and separated many years ago, reinforced on the reverse, fair to fine and scarce. £180-220

x463 Great Britain: Life Annuities raised ‘towards carrying on a Vigorous War against France’, 1693, receipt for several months annuity dated 170[7], signed by Lord John Colepeper, printed document with manuscript insertions, very slight trimming at edges, fine to very fine. £60-80

x466 South Sea Company: New South Sea Annuities, an inscribed stock certificate, 178[4], for the transfer of stock, red and black printing with small designs beneath the title, together with a small handwritten power of attorney for the transfer of South Sea Company stock dated 1714, small piece of top left corner missing due to spiking, the latter professionally laid on silk paper. (2) £200-300

x464 Great Britain: Annuities 1706, a receipt for 3 months annuity dated 175[6] issued to the trustees of the late Sarah Duchess of Marlborough, the Earl of Marchmont, Thomas, Lord Bishop of Oxford, Beversham Filmer and James Stephens, doctor, a printed folio document with manuscript insertions, full margins, a few edge tears and nicks, fine and scarce. £80-100 119

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x467 Great Britain, Five per cent Annuities, an inscribed stock receipt, 178[5], black printing with manuscript insertions, handsigned by agent and witness, tiny piece missing at top right corner from spiking but better than average condition, very fine. £80-100 468 An accumulation of British Government inscribed stock receipts, 1798 to 1870, mostly Consolidated £3 per cent, but including Navy Five per cent Annuities, New four per cent Annuities, New £3 10s per cent Annuities, Four per cent Annuities, £3 5s per cent Annuities and Reduced £3 per cent Annuities, most with corners missing from spiking and very mixed condition, many fine and a few better. (40) £100-200 469 Old South Sea Annuities, inscribed stock receipt, 184 [1853] transferring stock to Robert Tritton, rector of Morden, Henry Hoare, church warden, and others, black printing on blue-grey paper, slightly trimmed but good very fine and scarce. £60-80

471 £3:10s per cent War Loan, bearer bond for £100, London 1st December 1932, no.286254, fascimile signature of N.K. Warren-Fisher as secretary to the Treasury, ornate border, brown and black, on Bank of England watermarked paper, with coupons, stamped ‘CANCELLED’, otherwise extremely fine and rare. £100-120

470 £3:10s per cent War Loan, bearer bond for £50, London 1st December 1932, no.066957, fascimile signature of N.K. Warren-Fisher as secretary to the Treasury, ornate border, brown and black, on Bank of England watermarked paper, coupons removed stamped ‘CANCELLED’, otherwise good very fine and rare. £60-80 472 City of Edinburgh, £3 Perpetual Annuity, registered bond, 1870, no.1583, unusual format piece with City arms at right, ornate border, blue and black, printed by W. & A.K. Johnston, with coupons, perforated PAID, very fine. £60-80

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Canals

473 Corporation of London; Bridges Act, 1911, 31⁄ 2 % Loan, a lovely set of bonds for £100, £500 and £1000 issued 1914, large format with Arms of the City at top, allegory of the Queen at top left, Royal Exchange building at left, all within ornate scrollwork, red, brown and green respectively, with coupons, cancelled by triangular cut into seal at lower left and by handstamp on the reverse, very fine and first time seen by the cataloguer. (3) £150-200

475 Derby Canal Company, certificate for one share, 1793, no.548, small format piece printed in black, on vellum, waxed paper seal attached at lower right, single file hole at top left, good very fine. £1,200-1,400 The company obtained its Act of Parliament in 1793 to build a canal from the River Trent at Swarkston Bridge to Little Eaton and to join the Erewash Canal near Sandiacre. The Act also provided for the building of railways to connect the surrounding coal mines to the canal and is one of the very few pieces to have this part of the Act printed on the certificate. A single span cast iron aqueduct was built as part of the route and was the first of its kind. In financial difficulties due to competition from the railways by the 1850’s but struggled on until 1964 when permission was granted for the canal to be closed altogether.

474 An interesting collection of British Provincial government bearer bonds, from Cardiff (2), Cheltenham, Newport (Mon) (2), Plymouth (5), Portsmouth (5), Stockton-On-Tees, Torquay, Weymouth & Melcombe Regis (2), and Wisbech, dates range from 1880’s through to 1926, all are different loans or denominations which range from £50 to £1000, many are extremely low numbers in single digits, most with coupons and all cancelled, generally very fine and all scarce to very rare. (20) £150-250

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476 Gloucester and Berkeley Canal Company, one share, (1794), no.737, issued to the Reverend Doctor E. A. Drummond and still contained in an original wrapper with a handwritten certification dated 1846, black printing, on vellum, yellow wax and paper seal at lower left, very slight discolouration, good very fine. £300-400

477 Grand Imperial Ship Canal, a lovely book of 25 unissued share receipts, each for 20 shares, Brighton 1827, vignette of sailing ship entering the canal, scrollwork at left, black on pink paper, bound with marble boards with repeat of the name and vignette on the front cover, the cover with very minor wear, the receipts in extremely fine condition. (25) £200-300 Several schemes for building a canal large enough for ships to sail from Portsmouth through to London were mooted during the 1820’s. This, put forward by Nicholas Cundy was not accepted by Parliament following a poor report on the project by their rival Sir John Rennie.

478 Huddersfield Canal Company, certificate for one share, 1802, no.3290, bold black printing on thick paper, wax and paper seal at left, very fine. £250-300 Affectionately known as the Narrow Canal so as not to confuse it with the earlier and much large Broad Canal, the route linked the town of Huddersfield with Ashton under Lyne in the outskirts of Manchester. Acquired by the Huddersfield and Manchester Railway and Canal Company.

479 Manchester Ship Canal Company, a specimen 5% redeemable debenture for £100, 1927, from the Bradbury, Wilkinson & Co. archive, large format piece with steamship at top, scrollwork border, green with pink underprint, red circular Bradbury specimen stamp at bottom, with counterfoil, a single fold otherwise about extremely fine. £60-80

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480 Regents Canal Company, certificate for 1 share, 1817 over 1812, black on vellum, light discolouration of the vellum but very fine and scarce. £150-180 Work began in 1812 on this canal, to be named after the Prince Regent (later George IV), and it’s course was from the Thames at Limehouse, through the City and to North West London joining the Grand Junction Canal at Paddington.

481 Rivers Thames and Isis Navigation, a 41⁄ 2 % bond for £100, 177[4], no. 179, black printing, on vellum, 12 signatures of the Commissioners each with small wax seal, interest payments annotated on the back and front of the piece from 1774 through to 1863, sometimes across the printed text, a few endorsements on the reverse, vellum a little discoloured as usual, very fine and very rare. £350-400

481

An Act of Parliament was passed in 1771 for ‘improving and completing’ the navigation of the Thames and Isis Rivers from the City of London to cricklade in Wiltshire. Commissioners were appointed who prompty raised the necessary funds with these bonds. interest was paid at 41⁄ 2% which was paid out of income derived from rates, tolls and duties charged at Locks, Toll Houses and Turnpikes. The navigation was vested in the Thames Concervancy from 1866 when it was considered that the locks and other structures were considered to be in a poor state of repair and there was insufficient income for proper maintenance. This got rid of the rather ancient and unwieldy regulation by the numerous commissioners.

482 Somersetshire Coal Canal Company, Lock Fund, certificate for one share number 2343, 18[03], small format, black on thick paper, waxed seal, very fine. £150-180 According to the text, only shareholders in the Kennet & Avon Canal were permitted to subscribe to this undertaking.

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Railways

483 Wey & Arun Junction Canal Company, one share, 18[31], no.902, attractive vignette of coat of arms at top, black on thick paper, paper and wax seal, extremely fine £180-200 Ran from Newbridge to Shalford (near Guildford), and was opened in 1816. Lost out to the growing railway network and was abandoned in 1840. Now being restored by a group of enthusiasts (www.weyandarun.co.uk).

484 A small group of Canal and Railway certificates, comprising Thames and Severn Canal-Navigation, New shares, 1809, red printing, on vellum, ink faded and dirty surface; Birmingham canal Navigations, subdivided share receipt, 1835; Liverpool, Manchester and Newcastle upon Tyne Junction Railway Co., £20 share, 1846; Bristol & Exeter Railway Co., debenture bond, 18[50], seal removed and ink cancelled, and Buckfastleigh, Totnes and South Devon Railway Co., debenture stock, 18[79], perforated cancelled and some staining, generally very fine unless stated. (5) £100-150

485 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 resting on the seabed, black and yellow, about extremely fine. £80-100 One of the numerous attempts at a Channel link, generally failing due to Parliament being concerned about the possibility of an invasion from the Continent.

486 Channel Tubular Railway Preliminary Company Ltd., founders share, London 1892, very attractive piece with vignettes around border of English and French coast, ships with tube resting on the seabed, black and yellow; together with Channel Bridge & Railway Co. Ltd., a pair of certificates for £4 share (1889) and founders share, 189[1], ornate borders, red and blue respectively, text in English and French, very fine to extremely fine. (3) £120-150

487 Golden Valley Railway Company, one share, 187[8], no.1256, small vignette of steam train in scrollwork at left, attractive orange printing by Waterlow Bros. and Layton, very fine. £50-70 Short line running from Pontrilas on the Great Western Railway in Herefordshire to Hay, Breconshire, fully opened in 1889. Partly closed due to financial difficulty in 1897 followed by the remainder in 1898. The Great Western Railway purchased the line from the liquidator in 1899.

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488 Great Western Railway Co., quarter share of £25, 184[5], no.46908, black with mauve paper seal, good very fine. £50-70 Company established in 1833 to link London with the South West. Built by Isambard Kingdom Brunel and opened as a broad gauge line in 1838, later adding standard gauge services from 1854 due to it’s acquisition of several other companies. Broad gauge services did not cease until 1892.

490 Maidstone and Ashford Railway Co., a proof mortgage debenture, 18- (circa 1880), large format but plain piece printed in black by Waterlow & Sons, 4 pages, with coupons, perforated PROOF/ WATERLOW & SONS/ LIMITED, good very fine and rare. £80-100

491 Sittingbourne and Sheerness Railway Co., £10 51⁄ 2 % preference share, 1861, no.12162, vignette of company seal at top, black, large embossed seal, extremely fine. £60-80

x489 Liverpool, Manchester and Newcastle upon Tyne Junction Railway Co., £20 share, 1846, no.63868, coat of arms at top surmounted by Liver bird, black, large red embossed seal with arms of the 3 cities, usual small spike hole but extremely fine. £50-60

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494 Vale of Neath Railway Company, £20 shares, 1846, no.5541, scrollwork at left, black on pale blue paper, red paper seal, extremely fine. £60-80 492 Southwold Railway Co., £10 shares, part paid, no.125, 18[78], black, red overprint ‘fully paid’, slightly dirty top right corner, very fine. £60-80 A 3 feet gauge railway incorporated in 1876 to connect Southwold with the Great Eastern Railway at Halesworth. Closed in 1929 partly due to the 16mph speed limit imposed by the Board of Trade.

495 Waterford and Limerick Railway Co., £50 share, 184[5], no.3709, vignette of company seal at top, blue on pale blue paper, pink seal, a nice example, good very fine. £60-80

493 Stockton & Darlington Railway Company, class A preferential 5% shares of £25, 1858, no.6601, large vignette of steam train crossing bridge over canal, mills in background, black on pink paper, almost extremely fine. £300-400

496 Watford & Rickmansworth Railway Company, £10 share, 18[62], no.1395, black, embossed seal, handwritten transfer on the reverse, good very fine and scarce £60-80 Opened in 1862 to connect the two towns. Financial difficulties forced the company into the hands of the London and North Western Railway who had worked the line from the outset.

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Tramways

497 West Cornwall Railway Co., £20 share, 184[6], no.6088, attractive but small format piece with coat of arms at top, black on grey paper, red embossed seal depicting coat of arms, extremely fine. £60-80

x501 Birkenhead Tramways Company, 6% preference shares of £10, 18[81], no.776, lovely vignette of the Woodside Ferry terminus with horse drawn tram waiting to depart, several ships at the dockside, red, a few pinholes, very fine and scarce. £80-100

Shipping

498 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. £80-100 499 Wharfedale Railway Co., £15 share, 1846, no.26490, Craven heifer in centre, black with blue underprint, red impressed seal, with directors report dated 1854 good very fine £60-80 500 A group of British railway certificates from an old collection, comprising London, Chatham & Dover Railway Co., 1864; Navan & Kingscourt Railway Co., 1871; Rugby, Derby & Manchester Railway, 1845 (2 types); Great Northern Railway Co., 1846; Ayr & Maybole Junction Railway Co., 1850’s and 60’s (3 types); Liverpool Overhead Railway Co. (3 types 1895, 1896 and 1905); Paisley, Barrhead & Hurlet Railway, 1840’s (3 types); Fishguard & Rosslare Railways and Harbours Co., 1945; Greenock & Ayrshire Railway Co., 1860’s, and, City of Glasgow Union Railway Co., 1870’s to 1890’s (9 different), some are unissued, a few mounted on card and cancelled, several very fine and a useful lot. (25) £100-200

502 United Waterford Steam Navigation Company, £100 share, 18[36], no.241, attractive piece with vignettes of steamship and coat of arms in top corners, black printing, on vellum, some discolouration of the vellum, about very fine and rare £250-300

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Bus and Cab Companies

Motor Cars & Cycles

503 Hyde Park Cab Co. Ltd., £2 shares, 188[4], no.58190, black, heavy centre fold, about very fine £40-50

504 London and Birmingham Steam Carriage Co., 5 shares of £20, part paid, 183[5], no.4161-4165, attractive scrollwork at left, black on thick paper, signed by three directors, some discolouration otherwise good very fine and scarce. £200-300 Formed in Birmingham in 1832 this company organised several successful trials of steam coaches but failed in the general economic downturn in 1835.

507 A.B.C.Motors (1920) Ltd., £1 preference shares, 10 shillings paid, 19[20], no.63, ornate border, blue, some creasing and slightly dirty surface, fine to very fine. £60-80 x508 Beeston Cycle Co. Ltd., £1 ordinary shares, 189[8], no.93, together with £1 preference shares, 189[8], also numbered 93, scrollwork at left, black and blue, the second with bottom left corner torn away not affecting the design, very fine. (2) £60-80 One of Harry Lawson’s operations was the acquisition of the Quinton Cycle Company in Coventry and moving in his recently formed Beeston companies which produced cycles and light cars until the turn of the century.

505 Metropolitan Saloon Omnibus Company Ltd., one share, 185[7], no.1299, vignette of horse drawn omnibus with inside and outside passengers, black, extremely fine and scarce. £60-80 x506 Metropolitan Saloon Omnibus Co. Ltd., one share, 185[7], no.1348, lovely vignette of horse drawn coach with passengers inside and outside, black, good very fine. £60-80

509 Beeston Motor Co. Ltd., £1 preference shares, 189[8], no.93, scrollwork at left, green, good very fine. £60-80 510 Beeston Motor Co. Ltd., £1 ordinary shares, 189[8], no.93, scrollwork at left, brown, good very fine. £60-80

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November 29, 2012 - LoNdoN 511 Calcott Brothers Limited, £1 ordinary shares, fully paid, 19[22], no.1781, signed by James and William Calcott as directors, scrollwork at left, black, good very fine and scarce. £60-80 An early Coventry bicycle manufacturer established in 1886. Produced motorcycles in 1904 and light cars in 1913. Acquired by Singer in 1926.

515 Renard Road & Rail Transport Corp. Ltd., £1 share to bearer, London 190[8], no.341, attractive vignette of 4 wagon road train, ornate border, red and black, text in English and French, with coupons, about very fine and scarce. £60-80 A French invention first exhibited in Paris in 1903 this was a tractor pulling 6 steerable trailers each powered through a series of driveshafts from the tractor. Daimler acquired the rights in 1907. Among the few sold was one delivered to Lord Kitchener for service in Egypt.

Continuing technical problems caused the failure of the project.

512 Jack Barclay Limited, certificate number 1 for 9980 shares, 19[27], issued to John Donald (Jack) Barclay and signed by him as a director, a stationers form printed in black with details inserted by hand, ink cancelled across face, very fine £200-300

Bridges, Piers, Docks and Harbours

‘Jack’ Barclay was a racing driver in the early 1920’s and in 1922 started to sell Rolls Royce and Vauxhall cars. His passion for luxury and powerful motors cars led to the formation of this company in 1927 which has become the oldest and largest Bentley dealership in the country, now part of the H.R.Owen Group. Their flagship showroom hs been in London’s Berkeley Square since 1953.

513 Jack Barclay Limited, certificate number 4 for 7984 shares, 19[33], issued to John Donald (Jack) Barclay and signed by him as a director, a stationers form printed in black with details inserted by hand, ink cancelled across face, very fine £180-220

516 Hammersmith Bridge Company, certificate for one share, [1824], no.1204, black printing, on vellum, pink paper embossed seal at left, light discolouration of the vellum but good very fine. £200-250

514 Jack Barclay Limited, a group of certificates (19), 19[33] through 19[50], numbers ranging between 7 and 25 (the last in the book) many issued to family members and 10 signed by Jack Barclay as director, the rest issued but unsigned, stationers forms printed in black with details inserted by hand, most ink cancelled or with TRANSFERRED across face, very fine (19) £600-800

Incorporated by Act of 1824. The first suspension bridge to be built over the Thames. Replaced in 1887 by a new structure as the old was too weak for the increased traffic.

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517 Herne Bay Pier Co., certificate for one share, 183[2], no.230, scrollwork at left, black printing, on vellum, green paper and wax seal at left, very fine. £100-120 Designed by Thomas Telford, this 3,613 foot structure was opened in 1832, demolished in 1870. Replaced by a shorter structure in 1873.

520 Royal Terrace Pier, Gravesend, certificate no.2 for £100 paying interest at 5%, 1845, beautiful vignette of the pier with a paddle steamer moored at the end, black on buff paper, good very fine and rare. £200-250 Built in 1844, used by steamers from London. Now controlled by the Port of London Authority.

518 Highgate Archway Company, £50 share, 18[10], no.317, attractive early piece with red paper seal affixed at left, black printing on vellum, good very fine and especially nice condition for this issue. £150-200 Formed to cut a tunnel through the steep hill at Highgate, North London, which collapsed when almost complete, forming the present cutting. The company then built the bridge across, which was rebuilt at the turn of the century.

519 Highgate Archway Company, £50 share, London 18[10], no.321, attractive black printing with red paper seal, on vellum, with related transfer document, also on vellum, overall discolouration but very fine. (2) £150-200

x521 Strand Bridge (Company of Proprietors of the), certificate for one share, London 18[09], no.3155, black printing on vellum, gold paper seal to left depicting bridge, light discolouration as usual with vellum, about very fine. £180-220 Designed by John Rennie and built between 1811 and 1817. Its name was changed from Strand Bridge to Waterloo Bridge in 1816 following the defeat of Napoleon the previous year. Opened by the Prince Regent in 1817. This structure was demolished in 1936 to make way for the present bridge.

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Banks and Insurance Companies

523 Asylum Life Assurance Company, certificate for one share, 1824, no.1244, finally fully paid in 1837, black printing, on vellum, crease at top right corner otherwise about extremely fine with usual discolouration. £60-80 Acquired by Alliance Assurance Company in 1857.

524 Asylum Life Assurance Company, certificate for one share, 1824, no.1928, finally fully paid in 1839, black printing, on vellum, good very fine. £60-80 522 Strand Bridge Company, annuity certificate for £16 per annum, payable out of the tolls and receipts of the Company, 1814, no.419, large format document printed in black on vellum, pink seal, impressed duty stamp, some discoloration as usual, about very fine. £180-200 Designed by John Rennie and built between 1811 and 1817. Its name was changed from Strand Bridge to Waterloo Bridge in 1816 following the defeat of Napoleon the previous year. Opened by the Prince Regent in 1817. This structure was demolished in 1936 to make way for the present bridge.

525 Barned’s Banking Company Limited, £50 shares, 1865[6], no.967, scrollwork at left, black, fine to very fine. £60-80 Bank incorporated in 1865 but failed during the Overend Gurney crash of 1866.

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526 Bath Sun Fire Assurance Society, one share, 18[33], no.333, plain black printing on vellum, signed by three directors, slight yellowing but good very fine and scarce. £150-180 527 Britannia Bank Limited, a specimen provisional certificate for £10 shares, 1884, from the Bradbury, Wilknson & Co. archive, Britannia in scrollwork at left, black and red, counterfoil attached at left printer’s annotation ‘500 Feb 1884’ at left, otherwise about uncirculated £60-80

529 Hope Insurance Company, £50 share certificate, London 1807, vignette of allegorical female (presumably Hope!) standing at the foot of a column with city of London in background, black on thick paper, nearly extremely fine £150-180

530 Liverpool Colquitt Street Tontine, one share, Liverpool 180[7], no.54, black on vellum, single ink line cancellation, slightly discoloured, good very fine. £60-80 Early life insurance piece with benefits going to the last surviving member, in this case the 5 year old Sarah Kitchen.

528 British Colonial Bank and Loan Company, £40 shares, part paid, London 18(45), no.6, vignette within wreath of allegorical figure with various goods and sailing ship, black, printed by Perkins, Bacon & Petch, right hand side is toned overall but otherwise very fine and rare. £60-80

531 London & Westminster Bank, a group of 5 certificates for £100 shares, £20 paid, 186[2], large heading, 186[4] and 186[9] and 18[79], smaller heading, (2 examples), black with blue or pink underprints, heavy folds and a couple with small tears, fine but rare early issues, together with London & Westminster Bank Ltd., a group of 31 certificates for £100 shares, £20 paid, 1883 to 1908, black printing with pink or pale pinkish green underprint, 4 varieties of printing noticed, generally very fine but many are better. (36) £150-200

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November 29, 2012 - LoNdoN 534 Staffordshire Joint Stock Bank Ltd., a pair of certificates for £100 shares, 18[74], no.315, and 187[84], no.400, the first with allegorical female with industry in background, black, the second without vignette, black, both signed by two directors, the first with small ink spot, very fine and good very fine. (2) £80-100

532 North & South Wales Bank Limited, £40 shares, £10 paid, 189[7], no.6730, scrollwork at left and bank title in red, remaing text in black, ornate seal, manuscript signature of General manager and one director, very fine and rare £80-100 An important bank formed in 1836 and taken over by Midland Bank in 1908 at which time it consisted of 108 branches and sub-branches throughout Wales.

x535 The Stock Exchange, 3% debenture for £1000, [1899], no.95, large format piece with ornate border, red, impressed duty stamps, signed by two trustees, perforated cancelled, good very fine and rare. £200-300

533 Reversionary Interest Society, £100 share, 182[3], no.405, issued to John Capel of London, black printing, on vellum, slightly discoloured, fine. £80-100

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Insurance Policies

536 Union Mortgage Banking and Trust Co. Ltd., a specimen mortgage debenture, 188-, from the Bradbury, Wilkinson & Co. archive, numbered T001T500 in upper margin, large format, arms with flags of USA and Great Britain in the centre, Mercury at left and allegorical female at right, black, blue underprint, with coupons, glue residue at left edge, extremely fine. £60-80

537 An early Lloyd’s Marine Insurance policy dated 1770, insuring the ship ‘Action’ on its voyage from ‘London to Honduras with Liberty to touch at Madeira and Leewards Islands’, printed document with manuscript insertions, embossed duty stamp, the underwriters were M.K. van Mierop, the first Chairman of Lloyd’s, and John Ewer, a member of the 1771 committee, very fine and rare. £80-100

538 An early Lloyd’s Marine Insurance policy dated 1773, insuring the ship ‘New Bridgetown’ on its voyage from ‘Madeira to Barbados and thence to London’, printed document with manuscript insertions, embossed duty stamp, among the underwriters are M.K. van Mierop, the first Chairman of Lloyd’s, and John Ewer, member of the 1771 committee, very fine and rare. £80-100

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542 Union Fire Office, a very early policy dated 1778 covering a private residence in Wimpole Street, London for £1000, large format with four clasped hands within the title, black printing, embossed revenue stamps, an interesting main clause voids the policy if more than 20 pounds of gunpowder is kept on the premises, repaired split along centre fold otherwise about very fine and very scarce. £120-150

539 Sun Fire Office, a rare early fire policy dated 1749 insuring a house and buildings at Bucklersbury, Hitchin, usual large vignette of the sun, fire engine above and firemen at each side, black, embossed duty stamps, signatures of three directors, minor splits at folds, about very fine and rare. £80-100

543 A nice collection of early fire insurance policies, comprising Hand in Hand Insurance Co., 1801; Union Insurance Company, 1806; Suffolk and General Country Amicable Fire Office, 1822; Westminster Fire Office, 1829 and Norwich Union Fire Insurance Society, 1833, all are very large format documents, all but the third with large vignettes, impressed duty stamps, an attractive lot, all folded but fine to very fine and scarce. (5) £150-200

540 Sun Fire Office, a scarce early fire policy dated 1765 insuring a school and schoolhouse at Whitchurch, Shropshire, usual large vignette of the sun, fire engine above and firemen at each side, black, embossed duty stamps, signatures of three directors, minor splits at folds, about very fine and rare. £80-100

544 An interesting accumulation of Insurance Policies relating to fire and life, including The London Assurance, 1857, vignette of Britannia at top, Kent Fire Assurance Policy, 1903, vignette with ‘INVICTA’ inscribed above horse, Pheonix Assurance Company, 1865, vignette of Britannia-esque figure, Phoenix Fire Office, 1878, lovely large vignette of phoenix, Caledonian Insurance Company, 1931, allegorical vignette at top, Guardian Fire And Life Assurance Company Limited, 1898, Britannia figure at top, all with duty stamps, handstamps, some with endorsements attached and seals, generally very fine. (30) £80-100

541 Sun Fire Office, an early fire policy dated 1791 insuring a dwelling house in Rochdale, usual large vignette of the sun, fire engine above and firemen at each side, black, embossed duty stamps, signatures of three directors, together with a handwritten file copy of an 1827 policy of the British Commercial insurance Co., minor splits at folds, about very fine and rare. (2) £60-80

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Gas, Water and Electricity

545 An interesting collection of Water Gas companies, comprising Nottingham and Derby Water-Gas Co. Ltd., 18[89], no.239; Yorkshire Water Gas Co. Ltd., 18[89], no.274; North British Water-Gas Syndicate Ltd., 18[89], no.584, and British Water Gas Syndicate Ltd., fully paid shares, 18[89], no.26, and part paid shares, 18[89], no.567, all issued to the same family who obviously had high hopes for the rather short lived boom in this industry, a few small and insignificant edge splits, generally about very fine. (5) £60-80

546 Brighton Gas Light and Coke Co., £20 share, 18[23], no.521, scrollwork at left incorporating details of share capital, black on thick white paper, a little grubby on reverse, very fine £100-120

547 East London Water Works, certificate for one NEW share, 18[10], no.3032, attractive black printing, on vellum, red waxed seal, together with a related transfer certificate, also on vellum, slightly discoloured vellum but very fine. (2) £60-80

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Commercial and Industrial 551 A nice little group of cotton mills comprising; Oakwood Cotton Spinning Co. Ltd., 187[5]; Ena Mills Ltd., Atherton, 19[24], with receipt; Irwell Bank Spinning Co. (1919) Ltd., 19[23], with call notice and shareholders report, in shareholders booklet; County Down Weaving Co. Ltd., 19[13], and, two illustrated dividend receipts for Atherton Mills Ltd., 1941, the second with damaged left edge otherwise fine to very fine and better. (9) £40-50

552 A small accumulation of British and British Colonial certificates (59), in very mixed condition, some duplication and some modern pieces included, some fine and better. (59) £60-80

548 Gas Light and Coke Company, £50 share, 181[2], no.2266, black printing on vellum, red seal at left, very fine and scarce. £150-200

553 A miscellaneous group of certificates comprising Ecton Company Ltd., £1 shares, 188[5]. no.1020; Caldbeck Fells Consolidated Lead & Copper Mining Co. Ltd., debenture stock certificate 18[75] and 5 shares of £2, 18[70] (3 examples); Carlisle Cricket and Athletic Co. Ltd., 189[2]; Vale of Eden Agricultural Cooperative Society Ltd., 187[93]; Elmore’s French Patent Copper Depositing Co. Ltd., 189[1]; Elmore’s Patent Copper Depositing Co. Ltd., 18[91]; White Lead Co. Ltd., 18[90], and others (5), mostly fine to very fine. (15) £100-120

Probably the most important company in the industry, formed in London in 1812, and was the first company to operate a public gas works. After acquiring numerous other London companies during the 19th and early 20th centuries it was finally nationalized in 1949.

549 Public Utilities: A group of certificates comprising; East London Water Works, £100 share, 1847, no.4482, black printing, on vellum, red seal, with related transfer, also on vellum; Ulverston Gaslight and Coke Company, pair of certificates for £30 share, 1847, black on grey paper and £7 10s quarter share, 1858, black on grey paper, and, Maxwelltown and Dumfries Gas Company, shares, 18[68], small plain format, very fine to extremely fine. (4) £100-150

554 A good collection of British certificates, comprising Strand Music Hall Co. Ltd., 1862; Brighton Turkish bath Co. Ltd., 1869; West Cowes Sea Bathing Co. Ltd., 1870; Mudies Select Library Ltd., 1864, signed

by Mudie; Rossendale Union Foundry Co. Ltd., 1861; Inventors Assistance Company Ltd., 1859; Library Co. Ltd., 1862; British Honduras Co. Ltd., 1864; Northern Investment & Discount Co. Ltd., 1866; Drypool Workman’s Club Co. Ltd., 1878; Dumfries Cemetery Co. Ltd., 1881; Continental Mining and Metallurgical Co. Ltd., 1890; Commercial Union Permanent Land, Building & Investment Society, 1880; Englebourne Slate Quarries Ltd., £20 debenture, 1877, and others (7), fine to extremely fine. (21) £150-180

550 West Middlesex Water Works, certificate for one share, 1815, no.7306, scrollwork at left, black printing, on vellum, red embossed seal at left, very fine. £60-80

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boNds aNd share CertifiCates of the WorLd 555 A very good collection of 19th century and early 20th Century mining certificates from Cornwall and Devon, comprising Botallack Mines Ltd., 190[7]; Callington United Mines Ltd., 188[9]; Carn Brea & Tincroft Mines Ltd., 190[6]; Dolcoath Mine Ltd., 4 different plus and option certificate; East Pool & Agar Ltd., 191[9] and [1926]; Falmouth Consolidated Mines Ltd., £50 participating bond, 19[09], Convertible Income bond, 19[12], and an option certificate; Levant Tin Mines Ltd., [1923]; New Consols Tin & Arsenic Works Ltd., 1874; New Options Exploration Ltd., 190[7]; Polberro Tin Ltd., 19[38]; Radium Ore Mines Ltd., 191[2]; St.Dennis Mining Co. Ltd., 190[5]; South Devon Iron & General Mining Co. Ltd., 1859; Wheal Kitty Tin Ltd., 192[7]; Wheal Reeth Tin Ltd., 19[35], and, Wheal Vor Ltd., 19[08], a few pieces are very scarce, generally fine to very fine , a few better. (23) £320-380 557 All England Lawn Tennis Ground Limited, £50 debenture entitling the holder, Stanley John Bell, to buy a seat at the Wimbledon Tennis Championships in 1947, no.78, dated 19[46], ornate border, red, very fine. £60-80

558 Ardree Oyster Fishery Co. Ltd., £10 shares, 188[7], no.12, blue, tear at right and split in seal, top edge a little stained, good fine £40-50 Formed in 1882, acquiring a 21 year lease of oyster beds in Galway Bay belonging to Lord Wallscourt.

559 Cambridge Cemetery Company, £10 share, 1843, no. 69, issued to Ebenezer Foster and signed by him and George Ebenezer Foster as Directors, black on cream paper, together with Winchester Cemetery Company, share no. 291, 184[1], black printing on vellum, pink paper and wax seal, very fine.

(2) £80-100

556 Abbey Mills Distillery Ltd., 10% debenture for £500, 1889, no.2, of only 40 issued, large format piece, plain printing, 4 pages, good very fine and rare. £60-80

The cemetery of some 15 acres was situated on the North side of Mill Road and was consecrated in 1848. The Baptist Foster family were mill owners and founded a very successful bank in the town. They were heavily involved in many local businesses and projects and Ebenezer served as mayor in 1836/37. Fosters bank was sold to Lloyds bank in 1918.

Large distillery in West Ham, London, wound up by court order in 1890.

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562 Film and Theatre:, A small collection/accumulation of British, American and French companies including British Mutoscope and Biograph Co. Ltd., 1900; Camberwell Palace of Varieties Ltd., 1900; Liverpool Repertory Theatre Ltd., 1921; Whitehall Films Ltd., 1928; Heuck’s Opera House Co., 1893, signed by Hubert Heuck; Belasco Productions Inc., 1927; National Theatres Inc., 1924; Orpheum Circuit Inc., 1921; Schubert Theatre Corp., 1927, $1000 bond; Roxy Theatres Corporation, 1927, $100 bond; Soc. Générale des Cinématographes Eclipse, 1907, and, Soc. Générale des Films, 1907, a little duplication, an interesting lot mainly in fine to very fine condition. (38) £180-220

560 Consolidated Land Company of France Ltd., £10 shares, 186[7], no.43, signed by Albert Grant as director, red printing with blue embossed seal, about very fine. £60-80 Albert Grant (Gotheimer). Financier and company promoter. Most famous for the numerous Emma Silver Mine promotions. Purchased and donated Leicester Square to London Council in 1874. Despite the large number of companies he floated, this is the only piece on which his original signature can be found.

563 H.H. Warner & Company Ltd., 6% First Mortgage debenture for £100, 1890 and 6% Second Mortgage Debenture for £100, 189-, specimen certificates from the Bradbury, Wilkinson & Co. archive, large format pieces of similar design, ornate borders with blue and brown underprints respectively, glue residue on reverse otherwise about extremely fine. £80-100 The ‘Bear’ Squeeze: Warner, an American patent medicine manufacturer and experienced stock operator, brought his business to England and floated his new company on the London Stock Exchange. London stock jobbers decided to teach this loud and flamboyant character a lesson by ‘bearing’ the stock when issued (selling what they did not own) in the hope of depressing the price. Little did they know that Warner knew of the plan and bought everything that came to the market.

When settlement day came the jobbers could not get stock at any price and Warner forced them to pay huge prices to acquire the stock and avoid being ‘hammered’.

561 Electric Organ Co. Ltd., 6% cumulative preference shares of £1, 189[5], no.15, ornate border and scrollwork at left, red, rust mark in centre, very fine and scarce. £60-80 Formed in 1895 to acquire the Hope Jones Electric Organ Company in London but had failed by 1899.

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564 Monmouthshire Iron & Coal Company, £50 share, 183[7], no.2619, issued to Admiral Sir Henry Digby, black on thick paper, single centre fold, good very fine. £60-80

566 Royal Panopticon of Science and Art, certificate for one share, 185[1], no.3989, 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, good very fine. £80-100 A large and impressive structure in Moorish style, erected in Leicester Square, to hold scientific exhibitions. The building opened in 1854 just before the outbreak of the Crimean War and the company failed within 2 years.

Sold and turned into the Alhambra. The Odeon cinema now stands on the site.

567 Sewing Machines: An interesting group of 4 certificates comprising; Perfect Blind-Stitch Sewing Machine Co. Ltd., 1903; Single Thread Lockstitch Machines Ltd., 1925; Ideal Sewing Machine Co. Ltd., 1922, and, International Sewing Machine Co. Ltd., 1920, about very fine and better. (4) £60-80

565 Norfolk and Norwich Museum, an interesting shareholders ticket, for one share, no. 165, made out to William England M.D., [1838], small format, blue on pink card, extremely fine. £60-80 Founded in 1825 by the Norfolk and Norwich Literary Institution to supplement their collection of books.

Originally the collections were kept at a local printing office but by 1833 they were moved to a purpose built building in Exchange Street, Norwich. It was only available to members of the Institution and not the general public. In 1883 the City of Norwich acquired the old Castle and prison and converted it for use as a public museum. The private collections of the Norfolk and Norwich museum were given to the City in 1883 and the new Museum opened in 1894.

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568 Sinn Fein Printing and Publishing Co. Ltd., a debenture for £1, 1909, no.1299, signed by Thomas Kelly as director and Seojan Ceallagh as secretary, black printing, red impressed duty stamp, overall discolouration but very fine and a rare piece of Irish republican history. £120-150 Founded by Sinn Fein propagandist Arthur Griffith in 1906 the company published a very influential weekly paper in Dublin. The company was not financially successful but was closed for sedition by the British Government in 1914 under the Defence of the Realm Act. The issue of debentures was considered more a donation vehicle rather than for investment.

569 Stanley Gibbons Limited, 6% debenture for £500, 18[90], no.26 (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. £150-200 The name synonymous with Stamp collecting. Investor Charles Phillips joined Stanley Gibbons in the first limited company venture which was subsequently wound up following the death of Gibbons in 1913.

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570 Theatre Royal, Drury Lane, a large indenture, 1793, certifying the subscription of William Morland of Upper Grosvenor Street to share no.37 in the theatre, signed by Albany Wallis, Richard Ford and Thomas Hammersley as trustees, large folio document, on vellum, huge and impressive vignette, 5” x 14” of the new theatre at the top, a very fine and very clean copy. £2,400-2,800 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 House of Commons adjourned as a mark of sympathy. Rebuilt again by 1812 by a new joint stock company.

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LATIN AMERICA ARGENTINA

571 Winchester Cemetery Company, certificate for one share, 184[1], no.290, issued to Paulet St.John Mildmay M.P., black printing, on vellum, pink paper seal, transfers on reverse to 1879, usual discolouration of vellum, good very fine. £60-80

573 Argentine Republic, Province of Entre Rios, Entre Rios Central Railway 6% Mortgage Loan, 1885, a specimen bond for £100 from the Bradbury, Wilknson & Co. archive, large format bond with Argentine arms at top, ornate border, black with blue underprint, text all in English, with coupons, numbered 0000, small tear at lower left edge otherwise about extremely fine and a scarce early issue. £80-100

572 Wireless Pictures (1928) Ltd., ‘The Fultograph’, 4/- ordinary shares, 19[29], No.740, together with Truphonic Radio Ltd., 2/- shares, 19[29], no.1808, and, Symphony Gramophone & Radio Co. Ltd., 2/shares. 19[29], no.10132, the first two very fine, the last good fine. (3) £60-80

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574 Province of Buenos Aires, 6% 10-Year Gold Loan, 1917, a set of specimen bonds for $50, $500, $1000 and $5,000 from the Bradbury, Wilkinson & Co archive, allegorical female with wheatsheaf and cattle, ornate border, blue, red, green and brown respectively, with coupons except no.1 which has been removed, numbered A000, B000, C0000 and D0000, printers annotation at top, extremely fine and scarce.

(4) £300-400

575 Brasserie Argentine Quilmes S.A., 125 franc share, Paris 1924, no.101001, attractive piece with full height allegorical females holding wheatsheaf and hops, green and black, with coupons, good very fine. £60-80

x576 Compania Docks de Transito del Puerto de la Plata, a group of 3 certificate for 100 shares of 100 pesos, Buenos Aires 1889, lovely large format piece with panoramic vignette of busy docks, allegorical females and ornate border, very lightly toned otherwise about extremely fine. (3) £80-100

x577 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 small edge tears otherwise good very fine.

(2) £60-80

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578 Empresa de Minas de Uspallata, 500 peso share, Buenos Aires 1825, no.18, black, 5 ornate signatures of directors, 4 pages, manuscript transfer on inside page dated 1913, a little toned otherwise very fine and a rare early piece. £160-200

580 South American Stores (Gath & Chaves) Ltd., a pair of unissued bearer share warrants for 1 and 5 shares of £1, 19- (circa 1913), allegorical female and cherub at top, ornate borders, red and brown respectively, printed by Waterlow & Sons, with coupons, good very fine. £80-100 Large department store in Buenos Aires which passed from local hands to this English company in 1912.

Merged with Harrods Buenos Aires in 1922 and finally closed in 1974.

BOLIVIA

579 Lavaderos de Oro de la Tierra del Fuego, 100 shares of 5 pesos, Buenos Aires 1906, no.00312, photographic vignette of river dredger, ornate borders, brown and black, centre fold, about extremely fine. £80-100

x581 Republic of Bolivia, 1870 8% Loan, a group of unissued bonds for 100 pesos (10), 500 pesos (12) and 1000 pesos (11), large format pieces with allegorical figures, blue, yellow and green respectively, printed by the New York Banknote Co., all with coupons, mostly extremely fine. (33) £300-400 145

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BRAZIL

582 Empire of Brazil, 5% Loan of 1886, a specimen bond for £100, from the Bradbury, Wilkinson & Co. archive, large format piece with Brazilian arms at top, ornate border, blue and black with yellow ‘£100’ within scrollwork in the centre, with coupons, numbered 00000, small edge tear to left otherwise extremely fine and rare. £100-120

583 United States of Brazil, 5% Funding Loan, 1900, a specimen bond for £500 from the Bradbury, Wilkinson & Co. archive, large format piece with ornate border, Brazilian arms at top, blue and black, text in English and French, with coupons, printers annotation in bottom margin, extremely fine £80-100

Loan floated by Rothschilds in London.

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584 United States of Brazil, Railway Guarantees Recision 4% Loan, 1902, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, large format piece with ornate border, Brazilian arms at top, green and black, text in English and French, with coupons, about extremely fine. £80-100

586 United States of Brazil, 1909 5% Loan, for the construction of Federal Railways, bond for 500 francs, no.121725, large format piece with two attractive steam engines at the top, ornate borders, text in French and English, printed by Bradbury, Wilkinson & Co., a little creased at edges but very fine. £60-80

585 United States of Brazil, Railway Guarantees Recision 4% Loan, 1902, a specimen bond for £500 from the Bradbury, Wilkinson & Co. archive, large format piece with ornate border, Brazilian arms at top, blue and black, text in English and French, with coupons, printers annotation bottom right margin, extremely fine. £80-100

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587 United States of Brazil, 4% Loan of 1910, bond for 500 francs, no.109013, large format piece with vignettes of railway bridges at top, Brazilian arms above, blue and black, printed by Bradbury, Wilkinson & Co., with coupons, near extremely fine. £60-80

589 United States of Brazil, 61⁄ 2 % Sinking Fund Gold Loan, 1926, bond for US$1000, no.49289, attractive American style piece with Brazilian arms at top flanked by allegorical figures, ornate border, blue and black, with coupons, very fine and rare, not cancelled. £80-100

588 United States of Brazil, 5% Funding Loan, 1914, bond for £20, no.206818, large format bond with ornate border, Brazilian arms at top, brown and black, not stamped, printed by Bradbury, Wilkinson, with coupons (these were cancelled in 1969), edge tears at left and right edge, about very fine and rare, not cancelled. £80-100

590 United States of Brazil, 61⁄ 2 % Sinking Fund Loan, 1927, bond for US$500, no.1285, attractive American style piece with Brazilian arms at top flanked by allegorical figures, ornate border, yellow and black, with coupons, blue stain in top half and small rust mark in lower half, about very fine and rare, not cancelled. £80-100

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November 29, 2012 - LoNdoN x593 State of Amazonas, 5% Gold Loan, 1906, a group of 4 bonds for 500 francs, large format pieces with vignette of busy port with steamship, paddle steamer and sailing vessels, ornate border, green, with coupons, heavy centre fold with some wear otherwise very fine. (4) £80-100

591 United States of Brazil, 5% 20-Year Funding Loan, 1931, bond for US$100, no.53567, attractive American style piece with Brazilian arms at top, ornate border, orange and black, with coupons, good very fine and rare, not cancelled. £80-100

594 State of Bahia, 4% Refunding Loan, 1915, bond for £10, dated 1916, no.A10424, large format with Brazilian arms in centre, ornate border, red and black, stamped ‘PLAN A’ in 1943, with coupons from 1975, couple of edge tears, fine, rare and not cancelled. £60-80

592 United States of Brazil, 5% 40-Year Funding Loan, 1931, bond for £20, no.62320, large format bond with ornate borders, Brazilian arms at top, brown and black, stamped plan A, printed by Bradbury Wilkinson £80-100 149

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595 Brazil: State of Parana, 7% Consolidated Loan, 1928, bond for £100, no.2567, large format piece with ornate border, red and black, printed by Waterlow & Sons, with coupons from 1980, small tear at top right corner otherwise about extremely fine. £120-150

597 Brazil, City of Manaos, 51⁄ 2 % Loan, 1906, bond for £100, no.A2572, large format piece with allegorical figures at top centre at each side, ornate border, red and black, printed by Waterlow & Sons, text in English and French, tide mark in margins from framing otherwise very fine and very rare. Unstamped and uncancelled £150-200

596 State of Rio de Janeiro, 51⁄ 2 % Conversion (Sterling) Loan, 1927, a specimen bond for £20 from the Bradbury, Wilkinson & Co. archives, ornate border, red and black, with coupons, round blue Bradbury specimen stamp at bottom, extremely fine £80-100

598 City of Rio de Janeiro, 61⁄ 2 % External Gold Loan, 1928, a pair of specimen bonds for $500 and $1000, from the Hamilton Bank Note Co. archive, allegorical females flank view of port, orange and green respectively, with coupons, not numbered and not stamped specimen but undoubtedly used as such, centre fold otherwise extremely fine. (2) £120-150

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601 Companhia Hydraulica Rio-Grandense, a specimen certificate for one share of 200$000 reis, Rio Grande do Sul 18- (circa 1870), printed by Bradbury, Wilkinson & Co., lovely vignette of water tower, black with green underprint, with counterfoil, small hole cancels, good very fine £60-80

599 City of Santos 6% Internal Sterling Loan of 1910, a group of unissued bonds for £20 (10) and £100 (7), very large format, large panoramic vignette of dockside, railway and city, text in English and Portuguese, red and blue respectively, printed by Waterlow & Sons, with all coupons, generally extremely fine. (17) £250-300

Formed to supply the City with drinking water. Also installed the fountain of the Three Graces in 1874 which is prominently situated in Xavier Ferreira Square.

600 Brazil Great Southern Railway Co. Ltd., 6% Mortgage debentures, 1893, a part book of scrip certificates numbered 1 through 100, black printing, numbers 10 through 100 are unissued (10 is missing), numbers 1 through 9 have been issued, 2, 3, 4 and 6 remain in the book, the other having been replaced by receipts for the first installments, generally extremely fine and a fascinating record of the issue. £150-200

602 Porto Allegre and New Hamburg Brazilian Railway Co. Ltd., £20 ordinary share, 1871, no.648, scrollwork at left, black, attractive embossed seal, extremely fine £60-80 Constructed a line between Porto Allegre and San Leopoldo, completed in 1874. Novo Hamburgo was a sub district of San Leopoldo in the State of Rio Grande de Sul. 151

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BRITISH GUIANA

BRITISH HONDURAS

603 British Guiana Government, a set of specimen 61⁄ 2 % debentures for $50, $100, $500, $1,000, $5,000, $10,000 and $50,000, 1961, from the Bradbury, Wilkinson & Co. archive, large format, black with yellow underprint, overprinted SPECIMEN in red, extremely fine and better. (7) £150-200

604 Tikwah Mining Corporation Ltd., Georgetown, British Guiana, a pair of certificates for ‘A’ shares of $1 and ‘B’ shares of $1, both 19[48], numbers 30 and 44, ornate border, blue on green and blue on yellow respectively, red seals, British Guiana adhesive stamps attached, very fine and very rare locally registered pieces.

(2) £60-80

605 British Honduras Syndicate Ltd., £10 shares, 18[91], no.13, a very attractive and unusual design of palm trees with bananas, pineapples and other produce, small steamship and coastline in centre, black, red seal at bottom right, small piece missing from top right corner but otherwise about very fine and first time seen by the cataloguer. £100-150

CHILE

606 Chilian 5% Loan of 1896, a specimen bond for £100, from the Bradbury, Wilkinson & Co. archive, large format piece with ornate borders, Chilian arms top centre, green and black, text all in English, with coupons, printers annotation in bottom right margin, about extremely fine £100-120

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607 Chilian Government, 41⁄ 2 % Loan, 1900 for the Coquimbo Railway, bond for £100, no.2161, large format piece with Chilian arms at top, ornate border, green and black, printed by Bradbury, Wilkinson & Co., with coupons from 1980, a little creased at edges, about very fine. £120-150

609 Chilian Government 8% Sterling Loan of 1922, a specimen £100 bond from the Bradbury, Wilkinson & Co. archive, very large format piece with Chilian arms at top, green and black, text all in English, with coupons, numbered 00000, printers numbers 00001 05650 in top margin, small ink smudge in bottom margin, extremely fine. £80-100 610 Banco Hipotecario, a series of three bonds bearing 6%, 7% and 8%, each for $1000 pesos, Valparaiso 19(circa 1910), specimen certificates from the American Bank Note Company archive, allegorical figure at left, blue, brown and green respectively, numbered 00000, overprinted SPECIMEN in red over signature area, with coupons, centre folds otherwise about extremely fine. £120-150 Part of a series of mortgage bonds of varying interest.

Most of the bonds of this company were denominated in pounds sterling.

608 Chilian Government 5% Annuities, 1908, a specimen bond for £20 from the Bradbury, Wilkinson & Co. archive, very large format piece with Chilian arms at top, ornate border, green and black, text in English, French and Spanish, with coupons, numbered 00000, about extremely fine. £80-100 153

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COLOMBIA

611 Caja de Crédito Hipotecario, 5% Gold Loan, 1912 issue (dated Santiago 1911), 500 francs OR £19.15.3d, no.2449, very large format piece with Chilian arms in centre, ornate border printed by Imprimerie Chaix, blue and black with buff underprint, with coupons, about extremely fine. £60-80

612 Consolidated External debt of Colombia, 1896, a specimen bond for £500, dated London 1897, from the Bradbury, Wilkinson & Co. archive, arms at top left, ornate border, green and black, red Government seal, with coupons, numbered 00000, extremely fine. £100-120

613 Republic of Colombia, 5% Gold Loan, 1916, bond for £10, no.B2154, ornate border, green and black, with coupons from 1934, good very fine and a rare issued and uncancelled bond. £60-80 WWW.spiNK.Com

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COSTA RICA

615 Consolidated External Debt of Costa Rica, 5% Loan, 1886, bond for £500, no.00017, large format piece with cat of arms at top, black with blue ‘£500’ in underprint, text all in English, with coupons, not cancelled, couple of repaired edge tears, fine to very fine and very rare. £150-180 x614 Banco Hipotecario de Bogota (Mortgage Bank of Bogota), 20-Year 7% Sinking Fund Gold Loan, 1927, a pair of probable specimen bonds for $500 and $1000, allegorical female reclining, pack mules in background, ornate border, orange and green respectively, printed by Hamilton Bank Note Co., with coupons, no serial numbers, extremely fine. (2) £80-100

616 Republic of Costa Rica, 1911 4% Refunding Loan, bond for £100, no.B3191, large format piece with coat of arms at top, ornate blue and black printing by Waterlow & Sons, with coupons, a scarce uncancelled piece, very fine. £100-120 155

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CUBA

618 Republic of Cuba, 41⁄ 2 % External Loan, 1937, bond for $1000, no.17630, allegorical figures at top, ornate border, green and black, printed by the American Bank Note Co., with coupons, very fine and not cancelled. £80-100

617 Republic of Cuba, 6% Treasury Loan, 1917, specimen bond for $00 gold pesos, from the American bank Note Co. archive, allegorical figures flank Cuban arms, olive green and black, with coupons, numbered 00000 in red, extremely fine. £100-120

619 Cuba Railroad Company, 1902 First Mortgage 5% 50-Year Gold Bond, a group of 7 bonds for US$1000, all signed by W. Van Horne as President, steam engine top centre, ornate border, orange and black, with coupons, pinholes and a few edge tears, fine to very fine. (7) £300-400

620 Cuba Railroad Company, 1902 First Mortgage 5% 50-Year Gold Bond, a group of 10 bonds for US$1000, all signed by W. Van Horne as President, steam engine top centre, ornate border, orange and black, with coupons, annotation in bottom margin, pinholes, fine to very fine. (10) £400-500

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November 29, 2012 - LoNdoN 621 Cuba Railroad Company, 1902 First Mortgage 5% 50-Year Gold Bond, a group of 34 bonds for US$1000, signed by Presidents and vice-Presidents other than Van Horne, steam engine top centre, ornate border, orange and black, with coupons, pinholes, a few edge tears, fine to very fine, a few better.

(34) £700-900

624 Cuba Railroad Company, First Mortgage 5% 50Year Gold Loan, a group of 17 nominative bonds for $1000, all dated 19[59], numbers between M426 and M837, steam train at top centre, ornate border, purple and black, endorsement on face, printed by the American bank Note Co., a few with edge nicks and pinholes, fine to good very fine and better. (17) £180-220

625 Cuba Northern Railways Co., First Mortgage 51⁄ 2 % Gold Loan, a group of 52 nominative temporary bonds for $1000, all dated 1958, ornate borders, orange and black, endorsements on face, varying condition but many are very fine and better. (52) £200-300

622 Cuba Railroad Company, First Lien and Refunding Mortgage Gold Loan, series A, 1921, a group of 7 bonds for $1000, steam train at top with workers in field at each side, ornate border, slate blue & black, ABNCo., with coupons, pinholes, a few edge nicks, fine to about very fine. (6) £250-350

623 Cuba Railroad Company, a large lot of temporary nominative bonds of $1000 each comprising, First Lien and Refunding 71⁄ 2 % Mortgage Gold Loan, series A, all dated 1958 (38), orange; First Lien and Refunding 6% Mortgage Loan, series B, dated 1958 (8), green, and First Mortgage 5% 50-Year Gold Loan, 1959 (98), blue, all with ornate border, mixed condition but most are very fine and better. (144) £200-300

626 United Railways of the Havana and Regla Warehouses Ltd., bearer warrant for 1 preferred share of £10, 1899, a specimen from the Bradbury, Wilkinson & Co. archive, attractive piece with ornate border with much engine turned scrollwork, red and black, text in English and Spanish, numbered 000000, with coupons, mount marks at top edge, about extremely fine. £60-80

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629 Cespedes Sugar Company, First Mortgage 71⁄ 2 % Sinking Fund Gold Loan, a group of 9 bonds of $1000, 1924, allegorical figures at top, ornate border, green and black, printed by American Bank Note Company, with coupons, pinholes, generally very fine.

(9) £150-200

628 United Railways of the Havana and Regla Warehouses Ltd., a specimen 41⁄ 2 % debenture for 500 francs or £19.15.6d, 1911, from the Bradbury, Wilkinson & Co. archive, attractive border, orange and black, text in English and French, numbered 00000, with coupons, printers annotation in top margin with numbers 00001 and 50000, small hole cancels, extremely fine. £60-80

630 Compania Azucarera Baragua (Baragua Sugar Co.), a group of 14 First Mortgage 15-Year 71⁄ 2 % Gold bonds for $1000, 1922, vignette of sugar cane being harvested, ornate border, green and black, printed by the American Bank Note Co., with coupons, endorsed on face, generally very fine. (14) £150-200 WWW.spiNK.Com

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631 Compania Azucarera Salamanca (Salamanca Sugar Co.), First Mortgage 20-Year 8% Gold Loan, 1923, bond for $500, Number 1, wagon collecting sugar cane at top, ornate border, brown and black, with coupons, endorsement on face, small ink mark at right centre, very fine and scarce. £60-80

633 Cuban-American Sugar Company, 10-Year 6% Collateral Trust Gold Loan, a specimen bond for $1000, 1908, from the American Bank Note Co. archives, lovely vignette of workers cutting sugar cane, ornate border, blue-grey and black, with coupons, red SPECIMEN overprints, folded in four as usual but slight separation at top fold, about extremely fine. £60-80

632 Compania Azucarera Vicana (Vicana Sugar Co.), 20-Year Convertible 6% Income debentures, 1935, for $500 (3) and $1000 (26), vignette of factory at top, ornate borders, yellow and orange respectively, printed by the Hamilton Bank Note Co., with coupons, mixed condition, the $500’s with edge tears, fair to fine, the $1000’s fine to very fine. (29) £250-300

634 Cuban Cane Products Co. Inc., a large group of 63 20-Year gold debentures for $1000, 1930, attractive vignette of sugar crop in wagons, factory and steam train, ornate border, green and black, text all in English, with coupons, mostly very fine to extremely fine. (63) £200-300

159

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635 A small group of Cuban Sugar Companies, comprising Cespedes Sugar Company, First Mortgage 71⁄ 2 % Gold bond, $1000, 1924; Compania Azucarera Baragua, First Mortgage 71⁄ 2 % Gold bond, $1000, 1922; Compania Azucarera Vicana, 20-Year Convertible 6% Debentures for $1000, $500 and $100, 1935, and Cuban Cane Products Co. Inc. 20Year Gold debenture, $1000, 1930, all with vignettes, mostly of sugar factories and crops, with coupons, the Vicana $100 is only fine, the rest very fine and better.

(6) £80-100

x636 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 £60-80

637 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. £60-80

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DANISH WEST INDIES (VIRGIN ISLANDS)

DOMINICAN REPUBLIC

638 Kongelige Danske Westindiske Handels Selskab (Danish West India Company), certificate for one share of 100 riksdalers, Copenhagen 1778, no.245, 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, good very fine and scarce. ÂŁ1,200-1,400 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.

161

639 Dominican Republic, 5% Loan of 1918, a specimen bond for US$50 from the American Bank Note Co.archive, allegorical figures flank coat of arms at top, ornate border, brown and black, with coupons, numbered 00000 in red, extremely fine. ÂŁ80-100

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ECUADOR

EL SALVADOR

640 Equatorian Provisional Bond, 1855, £100, no.

680, large format piece with very ornate border with scrollwork and coats of arms, large map on the reverse of the region around Guayaquil on the Ecuadorian coast, blue, text in English and Spanish, small split at fold, very fine. £80-100

x641 Banco Internacional de Guayaquil, a beautiful specimen certificate for a 2 sucre share, Guayaquil, 189-, printed 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, good very fine. £100-120

642 Republic of El Salvador, 3% External Sinking Fund Sterling Loan of 1946, a specimen bond for £50 from the Bradbury, Wilkinson & Co. archive, very large format piece with arms of El Salvador at top, ornate border, blue and black, text all in English, with coupons, overprinted SPECIMEN in red, top left corner a little crinkled otherwise about extremely fine. £60-80

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HONDURAS

645 Permison de Algodon, 500 quintales, Mexico 1856, no.696, black with light blue underprint on yellow paper, Mexican eagle atop pile of arms at top, with coupons, circular cut in centre as cancellation, very fine. £60-80

x643 Honduras Government 10% Railway Loan, 1870, bond for £100, no.21853, contracted by Bischoffsheim and Goldschmidt, large format piece, black, adhesive duty stamps, coupons at either side with blue underprint, about very fine. £60-80

MEXICO 644 Mexico: A small collection of certificates comprising, Mexico North Western Railway Co., 5% mortgage bonds, 1909, for £100 (2) and 10 shares of $100, 1909; Mexican Central Railway Co., Ltd., $100 shares, 1889, cancelled; National Railways of Mexico, 10 shares, first preferred, 1909; Compania Petrolera La Giralda, 100 shares, 1916; Negociacion Minera Socavon de San Fernando y Anexas, $25 peso share, 1919, and others (5), mostly very fine and better. (12) £100-120

646 Republic of Mexico, 10% Customs Loan, 1859, bond for 100 pesos, no.558, Mexican eagle at top, scrollwork border, black and red on very thin paper, with coupons, cut cancelled in centre, very fine but ragged left edge. £60-80 163

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647 United States of Mexico, 5% Interior Loan, 2nd series, 1896, bond for £200 or $1000, no.99666, Mexican eagle at top, allegorical figures either side, mauve and black, printed by Waterlow & Sons, with coupons, about very fine. £80-100

648 United States of Mexico, 5% Interior Loan, 3rd series, 1898, bond for £200 or $1000, no.137097, Mexican eagle at top, allegorical figures either side, mauve and black, printed by Waterlow & Sons, with coupons, about very fine. £80-100

649 Mexico, 5% Consolidated Exterior Loan, 1899, bond for £20 or US$98 gold, no.157128, Mexican eagle at top, ornate border, green and black, text in 4 languages, no coupons, laid down on board otherwise very fine. £60-80

650 Mexico, 4% Gold Loan, 1910, bond for £20, no.44116, large format piece with Mexican eagle at top, ornate border, green and black, printed by Waterlow & Sons, with coupons, about very fine. £60-80

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651 United States of Mexico, 6% Gold Loan, 1913, bond for £200, no.8272, Mexican eagle at top, ornate border, orange and black, printed by the American Bank Note Co., with coupons, very fine. £120-150

653 State of Chihuahua, 5% Loan, 1900, in aid of the Compania del Ferrocarril de Chihuahua al Pacific, $1000 silver, no.270, steam train at top, blue and black, with coupons, about extremely fine. £80-100 654 State of Chihuahua, 5% Loan, 1900, in aid of the Compania del Ferrocarril de Chihuahua al Pacific, a group of 5 bonds for $1000 silver, steam train at top, blue and black, with coupons, all about extremely fine.

(5) £300-400

652 City Council of Cordoba, 6% Loan, 1904, a group of 9 bonds for 500 pesos, female artist at bottom, coat of arms at top, green and black, text in Spanish and English, with coupons, good very fine and better. (9) £400-500 165

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655 State of Chihuahua, City of H. de Parral, 6% Loan, 1907, bond for 1000 pesos, series B, no.31, of only approximately 100 issued, Father Hidalgo at left, miners workng above ground at right, ornate border, blue and black, text in Spanish and English, with couons, very fine and scarce. £60-80

656 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 and scarce £60-80

657 State of Jalisco, Ferrocarril Central Mexicano, Railroad subsidy bond for $1000 silver, 1900, no.562, steam train at top, text in Spanish and English, green and black, with coupons, very fine. £50-60

658 State of San Luis Potosi, Sterling Loan, 1889, bond for £100, no.0412, Mexican eagle at top, black and green, text in Spanish and English, with coupons, together with City of Veracruz, 5% Loan, 1907, bond for 500 pesos, coat of arms at top, brown and black, with coupons, the first has been framed, very fine. (2) £100-120

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661 Mexico North Western Railway Company, a group of 10 certificates for 10 shares of $100 each, [1910], no’s G8529, G8536, and consecutive G16248-55, facsimile signature of F.S. Pearson as President, steam train at centre, brown and black, printed by the American Bank Note Co., British impressed duty stamps, very fine and better. (10). £60-80 659 Compañia del Ferrocarril Mineral de Chihuahua S.A., ‘bono fundador’, Chihuahua 1899[1900], no.159, vignette of steam train passing through canyon, large format, blue and black, impressed duty stamp, with coupons, perforated CANCELADO twice at top, small nick at left edge, centre fold otherwise about extremely fine £60-80

662 Mexico North Western Railway Co., 5% 50-Year First Mortgage bonds, £100, 1909, first series, £5 million issue, no.A16653 and second series, £6,672,600 issue, no.A50656, steam train in centre, blue and black, printed by Waterlow & Sons, with coupons; together with certificate for 10 shares of $100, [1909], steam train centre, brown and black, all good very fine or better. (3) £80-100 663 Mexico North Western Railway Co, 5% 50-year first mortgage bond, £100, 1909, 3 examples, numbers A15119, A15120 and A15123, steam train at top, ornate border, blue and black, printed by Waterlow & Sons Ltd., with coupons; together with certificates for 10 shares (3), 1910, 1911 and 1930, all with vignette of steam train, brown, very fine to extremely fine. (6) £80-100

664 Tehuantepec Company, 7% Loan, 1853, bond for £250, no.717, very attractive piece with numerous vignettes, black with red ‘$250’ in centre, with coupons, good very fine. £250-280

660 Ferrocarriles de Toluca a Tenango y Sn Juan, 10 shares of 100 pesos, Toluca 1907, no.1244, steam train at top, ornate border, blue-green and black, with coupons, bottom edge a little creased, good very fine. £60-80 167

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665 Banco Hipotecario de Credito Territorial Mexicano S.A., 100 peso share, 1908, no.8030, allegorical female in centre, blue and black, text in Spanish and French, with coupons, about extremely fine. £60-80

667

666 Banco Hipotecario de Credito Territorial Mexicano S.A., $100 share, 1908, allegorical figure at top, blue and black, with coupons, a few edge nicks, fine to very fine, together with Compania Bancaria de Fomento y Bienes Raices de Mexico S.A., 100 peso share, 1910, surveyors at top right, farmer and plough at left, dark blue and brown, with coupons, heavy crease, very fine. (2) £60-80 667 Banco Hipotecario de Credito Territorial Mexicano S.A., 100 peso share, 1914, no.73574, allegorical female in centre, ornate border, blue and black, text in Spanish and French, endorsement across face, with coupons, almost extremely fine. £60-80

668 Banco Hipotecario de Credito Territorial Mexicano S.A., a group of 6 certificates for 100 peso shares, 1914, allegorical female in centre, blue and black, text in Spanish and French, with coupons, generally about extremely fine. (6) £300-400

669 El Banco Hipotecario Mexicano, a specimen bond for 1000 pesos, 18- (circa 1880), from the Bradbury, Wilkinson & Co. archive, coat of arms and flags flanked by vignette of city by the sea and desert scene, blue and black, with coupons, small nick out of bottom edge, very fine. £60-80 670 Comp. Minera Nazareno y Alicante, S.A., a group of 18 certificates for 5 shares of $100, Saltillo 1911, ornate border, brown and black, text in Spanish and French, imprinted green revenue stamps, with coupons, very fine to extremely fine. (18) £70-90

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671 Cuyutlan Gold Mines Co. (ME), certificate for 25 shares of $1, 191[3], no.799, head of Napoleon in centre, black, issued to Hichens Harrison & Co. and endorsed on the reverse, near extremely fine. £10,000-15,000 This is a highly speculative piece, but a similar one, also for 25 shares, sold at £18,500 in our May 2012 sale.

672 La Rifa Tombola Zoológica, $50 peso share, Mexico 1890, no.725, black with pale blue underprint, adhesive revenue stamp, with coupons, extremely fine. £100-120

x673 Negociación Agricola de Xico y Anexas, $100 peso share, Mexico 1897, no.20989, large format piece with superb large vignette of map of the region, highlighting the company’s Hacienda, blue, red and black, map in brown, pink and green, impressed duty stamp, with coupons, centre fold otherwise extremely fine. £60-80 169

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PARAGUAY

674 Real Del Monte Mining Company, certificate for subscription for a half-share, 1829, no.1546, 4 pages, all installments paid, black, several embossed duty stamps, about very fine and a scarce early piece. £80-100

x676 Banco de Espana y Paraguay S.A., 1000 peso share, Asuncion 192[2], no.16551, large format piece with allegorical female wearing a crown with one foot resting on cornucopia, brown and black with yellow underprint, adhesive revenue stamp, extremely fine. £50-60

PERU

PANAMA

677 Republic of Peru, 1940 5% Internal Loan, a group of 3 specimen bonds for 500 gold soles, series A, B and D, from the American Bank Note Co. archive, coat of arms at top, ornate border, blue, orange and green respectively, with coupons, numbered 00000 and overprinted SPECIMEN in red, all about extremely fine. (3) £100-150

x675 Republic of Panama, 8% National Defence Loan, a specimen bond for 50 Balboas, 1921, from the American Bank Note Co. archive, allegorical female, olive green and black, with coupons, numbered 00000 in red and overprinted specimen in red, together with Compagnie Universelle du Canal Interoceanique de Panama, 4% bond for 100 francs, 1882, allegorical figures from North and South America reach hands across the canal, black, with coupons, good very fine and extremely fine. (2) £80-100 WWW.spiNK.Com

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678 Compania Nacional del Ferrocarril Mineral de Pasco, 7% bond for 500 soles, Lima 1872, no.1022, very attractive piece printed by the National Banknote Company in New York, steam train crossing bridge with cattle, coal mining at bottom, blue and black, with coupons, fold at right, about extremely fine. £60-80

680 National Pisco to Yca Railway Company, Guaranteed Loan, 1869, pair of bonds for 100 soles, no.1897 and 500 soles, no.4758, large format pieces with stylised steam engine in centre, ornate borders, blue and red respectively, with coupons, good very fine.

(2) £150-180

679 Compania Nacional del Ferrocarril Mineral de Pasco, 7% bond for 500 soles, Lima 1872, no.45, very attractive piece printed by the National Banknote Company in New York, steam train crossing bridge with cattle, coal mining at bottom, blue and black, with coupons, centre fold, very fine. £50-70

681 Peruvian Mining Company, certificate for one share, London 1825, no.4580, issued to David Barclay Chapman, plain format piece, black, extremely fine. £100-120 171

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URUGUAY

RUSSIA 684 A small group of Russian Bonds, comprising City of Moscow, 1912, £500 and £100, Moscow, 1908, £100; City of Nikolaeff, 1912, £20 and £100; City of Saratoff, 1909, 2500 francs; Troitzk Railway, 1916, 500 roubles; 1902 State Loan (China indemnity), 2000 roubles; Consolidated Railroad Loan, 1st series, 3125 roubles, 1250 roubles and 625 roubles, 2nd series, 1250 roubles and 625 roubles, mixed condition, fine to very fine. (13) £100-120 x685 A small accumulation of Russian certificates (81), including Compagnie Centrale d’Electricite de Moscou, 500 franc shares, 1899, 22 examples, Grand Russian Railway, 14 examples, and, Eclairage Electrique de St.Petersbourg, ordinary share, 1897 and preference shares, 1897, 3 examples, all with large vignettes of dockside view with electric lighting, a mixed condition lot but many are very fine and extremely fine with some duplication. (81) £150-200

682 City of Montevideo, 7% Sinking Fund Gold Loan, a specimen bond for $100, 1922, from the American Bank Note Co. archive, allegorical female with cherub at top, ornate border, green and black, with coupons, overprinted SPECIMEN in red, folded into 4 as usual, a little toned, about extremely fine. £80-100

686 An accumuation of mostly Russian bonds and share certificates (68), many of which are company issues, a little duplication, including Thornton Woollen Mill Company, V.G.Stoll & Cie., and few French and Belgian companes operating in Russia, mixed condition but many very fine. (68) £200-300 687 An accumulation of Russian State Loans, City Loans and Railway Loans, including 4% Consolidated Rente 1901, 12,500 francs (3 exam 12,500 francs, and 1909 State Loan, 500 francs (2 examples), a little duplication, generally in very fine or better condition and well worth closer inspection. (69) £250-300

683 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. £50-60 WWW.spiNK.Com

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State Loans

690 1817/18 6% Perpetual Annuities, a bearer certificate for 500 roubles silver, printed date 1864, no.5300, double headed eagle at top, black, text in Russian with French on the reverse, with coupons, about extremely fine and a scarce issue. £80-100

688 1817/18 6% Perpetual Annuities, registered certificate for 500 roubles, printed date1854, text in Russian and French, black, good very fine. £120-150 Certificates for this loan were issued continuously from 1820 until the Revolution in 1917, there are 3 distinct types of printing with varieties for most years. They were available in both registered, for any amount, and bearer, for 500 roubles only. This period is quite difficult to find.

691 1817/18 6% Perpetual Annuities, a bearer certificate for 500 roubles silver, printed date 1867, no.6655, double headed eagle at top, black, text in Russian with French on the reverse, with coupons about extremely fine and a scarce issue. £80-100

689 1817/18 6% Perpetual Annuities, a nominative certificate for 500 roubles silver, printed date 1854, no.33653, double headed eagle at top, black, text in Russian with French on the reverse, about extremely fine and a scarce issue. £80-100

692 1817/18 6% Perpetual Annuities, a nominative certificate for 500 roubles silver, printed date 1876, no.37573, double headed eagle at top, black, text in Russian with French on the reverse, about extremely fine. £80-100 173

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694 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, no.334, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, heavy folds with some surface dirt to top half, fine. £80-100

693 Russian 1820 5% Perpetual Annuities, 500 roubles, Dutch certificate issued in exchange for the original Russian certificate by Sillem Benecke & Co. and H.J. Stresow, dated in Hamburg 1821, plain black printing, Dutch revenue stamp, 6 examples, all without coupons, plus one odd coupon sheet, generally very fine.(6) £60-80

695 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, no.11860, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, heavy folds, fine. £80-100 696 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, no.18550, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, heavy folds, fine. £80-100

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x697 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, no.13767, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in Amsterdam, lacks coupons or talon, split at fold and in centre but no repairs, good fine. £100-120

699 1822 5% ‘Rothschild’ Loan, bond for 960 roubles or £148, no.18342, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, heavy folds with some surface dirt to top half, fine. £80-100 700 1822 5% ‘Rothschild’ Loan, bond for 960 roubles or £148, no.16048, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, with talon, heavy fold in top half, fine but with no repairs. £80-100

698 1822 5% ‘Rothschild’ Loan, bond for 720 roubles or £111, no.34273, handsigned by Nathan Meyer Rothschild as contractor, double headed eagle at top, black, on poor quality paper, with talon and one coupon, tiny tear at top edge otherwise very fine and much better than usual condition. £180-200 175

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701 1822 5% ‘Rothschild’ Loan, bond for 3360 roubles or £518, no.16368, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, tape repairs with stains and some paper loss especially the lower left seal, poor but very scarce. £100-120

702 1822 5% ‘Rothschild’ Loan, bond for 3360 roubles or £518, no.5825, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in Russia and Amsterdam, with talon, a very nice copy of this scarce denomination without any repairs, just one centre fold just starting to split at the ends, very fine. £300-400

703 1822 5% ‘Rothschild’ Loan, bond for 6720 roubles or £1036, no.16608, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with two handstamps for delivery of new coupon sheets in London, tape repairs with some paper loss but a presentable example of this very rare denomination. £200-250

704 Imperial Russian Government, 1915 Treasury Bill, £1000, due February 1916, no.A002625, issued by Baring Brothers & Co. Ltd., small format with double headed eagle at top, scrollwork at left, black, red duty stamp, hole cancelled, very fine. £120-150

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City Loans

x707 City of Moscow, 1910 41⁄ 2 % Loan, bond for 5000 roubles or £528.10.10d, no.00195, of only 1400 issued, arms at top, ornate border, mauve and green with black text, with coupons, several small edge tears otherwise good very fine and scarce. £100-120

705 City of Kieff, 5% 22nd Loan, 1914, bond for £500, no.0060, of only 262 issued, City arms at top, ornate border, green and black, with coupons, small chip out of bottom edge otherwise good very fine and rare £150-200

708 City of Moscow, 1912 41⁄ 2 % Loan, bond for £1000, no.233, large format, coat of arms at top, red and black, text in Russian, English and French, with coupons, tiny nick at right edge, extremely fine. £120-150

x706 City of Moscow, 1908 5% Loan, bond for £500 or 4725 roubles, no.00384, of only 400 issued, George and dragon at top, ornate border, green and pink, with coupons, a couple of small edge splits otherwise very fine and scarce. £150-180 177

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boNds aNd share CertifiCates of the WorLd 709 City of Nikolaef, 5% Loan, 1912, bond for £500, no.0130, coat of arms at top, ornate border, red and black, with coupons, heavily creased with tape repair at left and right edges, small paper loss at top edge, fair. £50-70

712 City of Nikolaef, 5% Loan, 1912, bond for £500, no.0147, coat of arms at top, ornate border, red and black, with coupons, a couple of small tears at right edge otherwise about very fine. £150-200 710 City of Nikolaef, 5% Loan, 1912, bond for £500, first issue, no.0131, of only 261 issued, City arms at top, ornate border, red and black, with coupons, tiny tear at bottom and right edge not into the design, very fine and scarce. £150-180

713 City of Nikolaef, 5% loan, 1912, bonds for £100 and £20 (2 examples), from the second issue, blue and brown, 265 and 400 issued respectively, with coupons, nearly extremely fine and scarce. (2) £80-100

711 City of Nikolaef, 5% Loan, 1912, bond for £500, no.0146, coat of arms at top, ornate border, red and black, with coupons, larger tears at right edge but no paper loss, fine to very fine. £120-150

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714 City of Saratoff, III, IV, V and VI loans, 1909, a group of 10 bonds for 937.50 roubles or 2500 francs, coat of arms at top, mauve and black, with coupons, generally about extremely fine. (10) £150-200 716 City of Vilna, 5% Loan, 1912, a group of 15 bonds for £20, large format, coat of arms at top, ornate border, red and black with yellow underprint, with coupons, extremely fine and scarce. (15) £200-300

717 City of Vilna, 5% Loan, 1912, a group of 50 bonds for £20, large format, coat of arms at top, ornate border, red and black with yellow underprint, with coupons, extremely fine and scarce. (50) £800-1,000

715 City of St.Petersburg, 41⁄ 2 % VIII Loan, 1913, bond for £1000, no.00198, of only 500 issued, attractive piece with coat of arms at top, green, olive and pink with black text, text in Russian, English, French and German, with coupons, tiny edge tear at left otherwise about extremely fine and scarce. £150-180 179

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Railways

718 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no.C28541, of only 300 issued, ornate border, red and black, with coupons, good very fine and scarce. £120-150

720 Kokand-Namangan Railway Co., 41⁄ 2 % Loan, 1910, bond for £500, no.C8564, of only 80 issued, ornate border, red and black, with coupons, some edge tears with small paper loss at top edge, slightly grubby surface, fair but very rare. £400-500

719 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no.C28548, of only 300 issued, ornate border, red and black, with coupons, strong good very fine. £120-150

721 Kokand-Namangan Railway Co., 41⁄ 2 % Loan, 1910, bond for £500, no.C8565, of only 80 issued, ornate border, red and black, with coupons, couple of closed tears and edge nicks, small paper loss at right edge, fine and very rare. £500-700 WWW.spiNK.Com

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722 Kursk-Charkov-Azov Railway Company, 4% Loan, 1888, bond for £500, no.009, of only 111 issued, ornate border, blue and black, text in Russian, German and English, with coupons, heavy folds, fine and very rare. £600-800 724 Moscow-Windau-Rybinsk Railway Co., 4% Loan, 1899, bond for £500, no.0485, of only 1000 issued, ornate border, red and black, with coupons, centre of duty stamp has split, couple of tiny edge nicks, very fine. £100-120

x723 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 £60-80

725 Russian South-Eastern Railway Company, 41⁄ 2 % Loan, 1914, bond for £500, no.C42546, ornate border, red and black, with coupons, pinholes and tiny edge tear at top, very fine. £60-80

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Commercial & Industrial

x726 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. £60-80

729 An interesting group of 6 Russian insurance policies, dated between 1905 and 1916, comprising Anchor Insurance Company; Northern Insurance Union; Rossia insurance Company (2); Russian insurance Union, and, Salamader Insurance Company, all with vignettes and large format, generally very fine.

(6) £200-300

x727 Troitzk Railway Company, 41⁄ 2 % Loan, 1913, bond for £500, no.C61191, of only 1400 issued, ornate border, red and black, with coupons, couple of small nicks in top edge, good very fine. £60-80

x730 Nobel Brothers Petroleum Production Company, 250 rouble share, 1879, 1914 replacement, no.02220, green and black, text in Russian, German, French and English, with coupons; together with Russian, American and other certificates (20), a few with vignettes, generally very fine, a few better. (21) £80-100

728 Troitzk Railway Company 41⁄ 2 % Loan 1913, a group of 5 bonds for £500, numbers C61119 to C61123 ornate borders, red and black, with coupons, about extremely fine. (5) £250-300 WWW.spiNK.Com

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733 Société du Crédit Foncier du Royaume de Pologne, 41⁄ 2 % Mortgage bond for 500 rubles, Warsaw 1893, no.71847, ornate border, green and black, text in Russian and Polish, with coupons, small piece missing from top middle edge, fine and rare. £80-100 734 Thee-Handelsgesellschaft W. Wyssotsky Und Co. in Moskau, 500 rouble share, 1910, no.8222, blue and black, with coupons, small edge tear otherwise good very fine; together with other Russian bonds and share certificates (12), several are very fine or better. (13) £60-80

731 Russische Aktiengesellschaft zur Entwickelung und Vergrosserung der Zahl der Verkehrsmittel und zur Exploitation derselben in Russland “Ssudowagon”, 500 rouble share, 1st series, St.Petersburg 1910, no.1556, ornate borders, blue and black, text in Russian, German and French, with coupons, extremely fine. £60-80

Foreign Companies

x735 La Habanera, Societe Anonyme Belge pour L’Industrie des Tabacs en Russie, a pair of certificates, ‘action de capital’ for 250 francs, and ‘action ordinaire’ of no par value, both Bruxelles 1900, no.1825 and no.3200, unusual design with coats of arms and numerous cigars around border, brown and blue, and black and blue, with coupons, good very fine to extremely fine. (2) £100-120

732 Soc. pour la Production et le Commerce des Articles de Caoutchouc ‘Bogatyr’, 100 rouble share, third issue, Moscow 1913, no.85048, vignette of medieval Slavic knight in armour, green and black, with coupons, extremely fine. £400-500 183

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738

736 La Liniere de Witebsk, 500 franc OR 125 rouble share, Brussels 1898, no.6422, large full height vignette of allegorical female standing on plinth with factory behind, green and pink, with coupons, extremely fine. £60-80

737 Russian General Oil Corporation (Société Generale Naphthifère Russe) Ltd., a large group of 694 bearer warrants for 25 shares of £1 each, 19[13], ornate border with allegorical female seated at left, orange and black, text in English. French and Cyrillic, with coupons, several endorsements on face, mostly extremely fine to uncirculated. (694) £1,200-1,500 738 Russian Industrial & Mining Co. (1901) Ltd., £1 shares, 190[2], no.77, ornate border, black, good very fine. £60-80 A Re-registration of a company of the same name, being a general investment business, with a particular interest in the oil industry. Calouste Gulbenkian was a director but sadly did not sign this piece.

739 St.Petersburg Land and Mortgage Co. Ltd., 5% debenture for £20, 19[12], no. A1947, handsigned

by H Jekyll and rubber stamp signature of Evelyn Hubbard as directors, lovely vignette of the city, maroon and black, printed by Waterlow & Sons, with coupons, good very fine. £60-80 Sir Herbert Jekyll (1843-1932), military engineer and civil servant. Brother of Gertrude Jekyll the famous horticulturalist and garden designer. Herbert was best known for his collaboration with Lutyens on the British Pavilion for the 1900 Paris Exhibition. The Honourable Evelyn Hubbard (1852-1934), 5th son of Baron Addington, entered the family firm of Russia merchants in 1875, last Governor of the Russia Company and a director of the Bank of England.

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Confederate States

UNITED STATES OF AMERICA

742 A small group of Confederate bonds comprising, Act of 8 February 1861, $1000, green ‘1000’ in centre; Act of 20 February 1863, $500, soldier by fire; $1000, view of Richmond and $1000, ‘Stonewall’ Jackson, and, Act of 17 February 1864, $1000, smartly dressed soldier with rifle by tent, all with coupons (Ball 9, 201, 221, 241, 360), fine to very fine, the last scarce. (5) £150-200

740 State of Massachusetts Bay, Committee for War, 6% note, 177[8], for [£20], no.4080, issued to pay draft of the Board of War, border of symbols, black (Anderson MA4), fine to very fine. £150-180

743 A collection of Confederate bonds, comprising Ball 3, 6 (2 examples), one with corner missing and stained, 9, 74, 101, toned, 148, 192, 280, 323 (2 examples), and 360, this with dark toning at left, fine to very fine unless stated, the last quite scarce. (12) £300-350

741 United States of America, Act of February 25 1862, 6% Loan, a proof $1000 bond, 186-, printed in black on thick card, removed from a Bond Detector, Union soldier at lower left, farmer and scythe at lower right, cut close at top edge, surface marks but extremely fine. £100-120 744 Confederate States of America; Act of February 28, 1861, redeemable September 1871, set of bonds for $50 & $100, allegorical figures at top, $500 and $1000, denomination in green scrollwork in centre (Criswell 5A, 6, 7 & 8), all with coupons, the last with small piece missing from top left corner not affecting the design, fine to very fine. (4) £80-100

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boNds aNd share CertifiCates of the WorLd 745 Confederate States of America; Act of August 19, 1861, a group of $100 bonds, various redemption dates, all with vignettes of Confederate officials (Criswell 29, 32(2), 33, 36, 41, 44, 46, 48), all with coupons, a couple are trimmed at edges, mixed condition but generally fine to very fine. (9) £180-220

748 Confederate States of America; Act of August 19, 1861, a group of $500 bonds, various redemption dates, all with vignettes of Confederate officials (Criswell 57, 62, 64, 66, 71, 72, 75), all with coupons, a couple are trimmed at edges, 64 is damaged at left edge, mixed condition but generally fine to very fine. (7) £140-160

749 Confederate States of America; Act of August 19, 1861, a group of $1000 bonds, various redemption dates, with vignettes of Confederate officials or allegorical figures (Criswell 87, 88, 90, 92, 96, 97, 100, 101, 102), all with coupons, mixed condition but generally fine to very fine. (9) £180-220

746 Confederate States of America, Act of August 19 1861, $500 bond, 186[1], no.35, redeemable 1st January 1867, vignette of maternal allegory with the treasury’s safe, black, with coupons (Ball -; Criswell 53), foxing in centre, very fine. £80-100

747 Confederate States of America, Act of August 19 1861, $500 bond, 186[2], no.734, redeemable 1st July 1868, Amazon stands over a prone figure, black, with coupons (Ball -, Criswell 56), light foxing, fine to very fine. £100-120

750 Confederate States of America, 7% Cotton Loan, 1863, bond for £200 or 5000 francs, no.C304, large format piece with allegorical figure at top, black, coupons at either side (Criswell 117), ink stain top right, about very fine and scarce. £150-200

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November 29, 2012 - LoNdoN 751 Act of January 29th 1863, 7% Cotton Loan, bond for £200 or F2,500, no.C1058, signed by Emile Erlanger & Co. as contractors, allegorical female with flag and bales, text in English and French, black, grey-brown underprint to coupons (Ball 157), very fine. £200-250

754 Confederate States of America, Act of 17 February 1864, $1000, redeemable 1 July 1884, no.328, Confederate Soldier in front of tent, black (Ball 360), with coupons, extreme edges a little toned, good very fine and scarce. £100-120

State and Municipal Loans

755 Republic of Texas, 8% Loan, 1840, bond for $100, no.1776, dated at Austin 1841, handsome piece with cattle, paddle steamer and allegorical figure, black, with coupons, cut cancelled, with 3 triangular holes in the body, toned, two small nicks from top edge, about very fine; together with State of Louisiana, 1892, $500 and $1000; State of South Carolina, 1874, unissued $500; Russian 3% Loan, 1859, £100; Eclairage Electrique de St.Petersbourg, 250 franc preference share, 1897, and, 3 different certificates of the Chemins de Fer de la Basse-Egypte, mixed condition but many very fine. (9) £200-300

752 Act of January 29th 1863, 7% Cotton Loan, bond for £500 or F2,500, noB455, signed by Emile Erlanger & Co. as contractors, allegorical female with flag and bales, text in English and French, black, grey-brown underprint to coupons (Ball 158), very fine. £200-250 753 Confederate States of America; Acts of February 20, March 23, April 30, 1863 and February 17, 1864, a collections of bonds, various redemption dates and denominations, all with vignettes including Confederate officials, Richmond Customs House, and equestrian statue of Washington (Criswell 120, 121, 121A, 122, 123, 124(2), 125, 128, 138, 142, 143, 143A, 144, 144A, 144D), all with coupons, mixed condition but generally fine to about very fine. (16) £300-400 187

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756 State of Alabama, 8% gold bond, 1870, in aid of the Alabama & Chattanooga Rail Road Company, 1870, no.418, handsigned by the Governor, large format with allegorical female at top, green and black, red seal, with coupons, very fine and scarce. £250-300 758 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1831, bond for $1000, series A, redeemable 1841, no.41, signed by the Governor, black, paper seal, with certificate for collection of interest in London, a couple of edge tears, top right corner missing, good fine. £120-150

759 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1831, bond for $1000, series B, redeemable 1846, no.157, signed by the Governor, black, paper seal, with certificate for collection of interest in London, very fine and scarce. £150-180 757 State of Georgia, Act of October 17th 1870, 7% gold bond for $1000, no.24, 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. £100-120

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760 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series E, redeemable 1861, no.972, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, tear at bottom edge, coupons have been removed and reattached otherwise very fine. £100-120

763 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series F, redeemable 1866, no.1099, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, heavy centre fold, about very fine. £120-150

761 State of Mississippi, 6% Loan, 1833, bond for 1000 dollars, no. F1130, atractive scrollwork borders, black, paper and wax seal, with coupons, also with agreement and coupons for collecting interest in London, good very fine £150-200

764 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series G, redeemable 1871, no.1533, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, small tear at top edge, about very fine. £120-150

762 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series F, redeemable 1866, no.1091, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, small tear at bottom edge, about very fine. £120-150

765 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series G, redeemable 1871, no.1899, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, large hole in centre, a few edge tears, poor £60-80

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Railroads

766 State of Mississippi, 5% Loan, 1838, bond for $2000, no.928, payable either in the USA or London, attractive early piece with allegorical figures, bald eagle at either side, paddle steamer at bottom, black, pink paper seal, good very fine. £150-200

768 Allegheny and Kinzua Railroad Co., First Mortgage 5% Gold Loan, $1000 bond, 1890, no.242, steam train emerging from tunnel at centre, green and black, with coupons, good very fine. £40-50

767 City and County of San Francisco, Board of Public Works, Montgomery Avenue bond, 6%, $1000, 1873, no.1458, large format piece with vignette of city view in centre, ornate border with vignettes of iron worker and farmer in contemplative poses, black with yellow underprint, with coupons from 1886, good very fine and scarce. £60-80 Issued subsequent to an Act of Senate for the acquisition of public land to establish and lay out Montgomery Avenue.

769 Grand Junction Rail Road and Depot Company, 6% loan, bond for $1000, no.419, lovely panoramic vignette of port with paddle steamers to the left, black, with coupons, very fine. £50-60 WWW.spiNK.Com

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November 29, 2012 - LoNdoN 772 Lehigh Valley Railroad Company, General Consolidated Mortgage Gold Loan, a group of $1000 registered 4% bonds, [1932] to [1944], and 41⁄ 2 % $1000 registered bonds, [1935] to [1941], both with identical vignette of steam train passing rail workers and signal box, green and black and mauve and black respectively, all cancelled with counterfoils reattached at left, generally very fine, some better. (78) + (30) £150-200

770 Houston & Texas Central Railway Co., Waco and North Western Division, First Mortgage Land Grant Sinking Fund gold bond, $1000, 1873, no.949, signed by W.E. Dodge as President, very large format bond with steam train in centre with native Americans at left, allegorical female at right, black with red ‘$1000’ in centre, with coupons, folded with slight wear at centre, very fine and scarce. £120-150

773 Missouri Pacific Railway Company (MO), a certificate for 10 shares of $100, 19[08], no.B21491, lovely vignette of tramcars, wagons and people outside station building, olive green and black, English duty stamp, not cancelled and Cox only records a specimen of this design but not this denomination, pinholes otherwise extremely fine and rare. £60-80 One of two examples found recently, see next lot.

774 Missouri Pacific Railway Company (MO), a certificate for 10 shares of $100, 19[08], no.B21492, lovely vignette of tramcars, wagons and people outside station building, olive green and black, English duty stamp; together with the Rock Island Company, certificates for less than 100 shares, preferred stock, 1914, green (2) and less than 100 shares, common stock, 1910, brown (4), the first with pinholes otherwise extremely fine and rare, the rest very fine to extremely fine. (7) £80-100

771 International Rail Road Company (of Texas), second Mortgage bond for $1000, 1874, no.2137, signed by Galusha Grow as President, very large format bond with steam train in centre, ornate border, red and black, with coupons, two centre folds, about extremely fine. £60-80

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775 Poughkeepsie, Hartford and Boston Railroad Co., second Mortgage bond for $100, 1875, no.545, very large format piece with panoramic view of factories along riverbank, paddle steamer and steam train crossing viaduct, brown and black, with coupons, usual folds but very fine to extremely fine. £60-80

x778 American Merchants Union Express Company, $100 shares, 186[9], no.5336, signed by William Fargo as President, loaded wagon speeds away from dockside, classic dog logo at top left, black, orange imprinted 5 cent revenue stamp in centre, hole and stamped cancelled, good very fine. £60-80

776 A large accumulation of American Railroad certificates (156), mostly share certificates but including a few bonds, mostly acquired in the 1980’s so all well known pieces, a large proportion being 19th century but many being unissued or partly issued, a little duplication, many with vignettes, mixed condition, many very fine and better. (156) £500-700

Express Companies

x779 Merchants Despatch Transportation Co., $100 shares, 187[1], no.80, signed by James Fargo as President and Alexander Holland as Treasurer, office building in centre, red and black, brown imprinted 5 cent revenue stamp in centre, ink cancelled across face, very fine. £100-120 x777 American Express Company, $100 shares, capital 7500 shares, 185[8], no.3185, signed by Henry Wells as President, Alexander Holland as Treasurer and William Fargo as Secretary, vignette of steam train showing two telegraph wires running alongside, black, usual discolouration but appears not to have any cancellations and a rather nice good very fine example. £400-500

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784 Bown Mining Company (CA), $10 shares, San Francisco 189[9], no.142, green and black, central vignette of miner, riverside vignettes within border at left and right, revenue stamps at left, very fine to extremely fine. £40-50

x780 Merchants Union Express Co., $100 shares, $35 paid up, 186[7], no.2994, loaded wagon speeds away from railway goods yard, black, green underprint, creased with light discolouration as usual, about very fine. £60-80

Banks, Commercial & Industrial 781 Bank of the United States of America, a group of 13 Dutch certificates, issued by Hope & Co. and others, Amsterdam [1844], in exchange for the original American certificates, ornate border of scrollwork and symbols, black, with coupons, generally extremely fine.

(13) £100-150

782 Bank of the United States, 6% bond for £100 OR 2530 francs, Paris 1859, no.748, very fine £60-80 785 Clifton Forge Banking and Construction Co., $10 shares, 189[1], no.94, attractive vignette of bank building with larger panoramic vignette of the town in centre, orange-brown and black, gold seal; together with other American banking and Financial companies (14), including Drovers and Mechanics Bank of Baltimore, 187[7]; Fidelity Insurance, Trust and Safe Deposit Co., 18[77]; Uncas National bank of Norwich, 18[80]; National Metropolitan Bank of Washington, 18[88]; Fidelity Loan and Trust Co., 18[89]; American Security and Trust Co., 189[3]; First National bank of Danvers, 18[93]; Maryland Trust Co., 18[95]; Continental Trust Co., [1901], and later pieces (5), mostly with vignettes, all but the first are cancelled, generally very fine. (15) £100-120

783 Bowles’ Extra Rifle Co. (DC), 1000 dollar share, Washington D.C. 187[9], no.26, early hunter with rifle at left, stag at right, black with gold seal depicting rifle in ‘break’ position, good very fine and rare £600-800

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boNds aNd share CertifiCates of the WorLd 786 Comstock Tunnel Company, 4% First Mortgage Income Loan, pair of bonds for $500 and $1000, 1889, no.3072 and 1128, both signed by Theodor Sutro as President, bald eagle at top, ornate borders, orange and green respectively, with coupons, both with cancellation holes, very fine (2) £60-80 787 Fox Theatres Corporation, a group of 30 certificates for less than 100 shares, class A common stock, 1929, allegorical figure with child, blue and black; together with a group of 9 certificates for less than 100 shares common stock, 1932, allegorical figures, green and black, generaly extremely fine. (39) £80-100 790 Mariposa Company, $100 shares, preferred stock, 186[70], no.2349, vignette of ore sorting at top, company seal depicting moth at bottom, red, adhesive revenue stamp left, rusty pinholes top left, bottom edge a little ragged, good fine and scarce. £60-80

788 Grizzly Bear Mining Company of Goldfield, Nevada, a group of 3 certificates for $1 shares, 19[09], numbers 558, 559 and 560, snarling bear at top left, black and gold, ‘Goes’ printing, together with Consolidated Arizona Smelting Company, 100 shares, 19[17], good vignette of smelter, and Utah-Bingham Mining Co., 190[8], good very fine to extremely fine.

(5) £60-80 791 North American Land Company, certificate for [5] shares, 179[5], no.134, signed by Robert Morris as President, black printing with scrollwork at left, top and right edges a little brittle and ragged, a good signature, very fine. £300-400

789 Madison Square Bank (NY), $100 shares, New York 189[2], no.250, native American and sailor with shield at top, arms at bottom, green and black, very fine and not cancelled. £60-80

x792 North American Land Company, certificate for [5] shares, 179[5], no.1124, signed by Robert Morris as President, black printing with scrollwork at left, top and right edges a little brittle, a good signature with negligible ink burning, good very fine. £300-400

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November 29, 2012 - LoNdoN

795 Sampson Mining Company (Utah Territory), $1 shares, 189[6], no.264, issued to Hubbard W. Reed for 50,000 shares, 10% of the capital, and signed by him on the reverse, miners at centre, black, cancellation stamp at right, glue residue at left, good very fine. £50-60

793 Philadelphia and Lancaster Turnpike Road, one share, Philadelphia 179[5], no.235, signed by William Bingham as President, wagon and horses approach toll house and gates, black printing on vellum, embossed seal, lightly toned, 2 folds as usual, good very fine. £300-400

Hubbard W. Reed (c.1850-1922), prominent Salt Lake City businessman.

794 Pneumatic Gun-Carriage and Power Co., $10 shares, Washington 18[89], no.1021, large gun on pneumatic recoil carriage, red and black, good very fine. £250-280 x796 Thomas A. Edison Inc., $100 shares, 19[11], no.7, issued to the New Jersey Patent Company, transferred to Thomas A. Edison in 1917 on the reverse and signed by Edison on the reverse, ornate border, orange and black with pale green underprint, perforated cancelled, glue residue at left edge, split at fold otherwise very fine and rare. £1,000-1,200 Incorporated in 1896 as the National Phonograph Company then reorganized in 1911 with this name. The company gradually absorbed other Edison companies until it was itself merged with McGraw Electric in 1957.

The New Jersey Patent Company was incorporated in 1903 to hold all of the phonograph related patents of Edison and other inventors. The property rights were transferred to this company in 1911 in exchange for shares which is represented by the certificate offered here.

A superb piece of Edison history.

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boNds aNd share CertifiCates of the WorLd x797 Twenty-One Sixty-Six Broadway Corporation and The Corporation of the Manhattan Congregational Church, 20-Year 6% Sinking Fund Gold Loan, 1928, set of three bonds for $100, no.C83, $500, no.D216 and $1000, no.M277, Washington in centre with allegorical figures at sides, green, brown and orange respectively, with coupons, good very fine. (3) £60-80

FOREIGN COMPANIES 798 Camp Floyd Silver Mining Co. Ltd., a group of certificates for one share of £10 (7) and 5 shares of £10 (3), all dated 1871, black with green underprint, scrollwork at left, together with a transfer certificate for the same company but relating to other share numbers, a couple with slightly uneven left edge otherwise very fine to extremely fine. (10) £100-150

799 Compagnie de Colonisation Americaine, one share of 1300 francs or 100 acres of land in Kentucky and Virginia, series B, Paris 182[0], no.4209, large format piece printed in black with coupons at either side from 1821, tiny wormholes in body, about extremely fine and rare £400-500

800 Compagnie Franco-Allemande D’Emigration et de Colonisation en Amerique, 100 franc share, 1856, no.11565, ornate border with vignettes of Washington, Jefferson, Harrisson, Munro and Madison, bald eagle bottom centre, black with ornate grey underprint, tiny tear at top edge, good very fine. £300-400

801 Panorama National des Etats-Unis (National Panorama of the United States), certificate for one share of 100 francs OR 100 dollars, Paris circa 1870, no.3311, very large format piece with bald eagle at top, text in English and French, black with brown underprint, with coupons, very fine and scarce. £80-100

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November 29, 2012 - LoNdoN 802 Russell Gold Mining Co. Ltd., a group of 14 debentures for £10, 18[87], numbers 118-121 and 125-134, large format, red, with coupons, generally good very fine and better. (14) £100-120 Mines in North Carolina.

804 Tattersalls (of Chicago) Ltd., £5 ordinary shares, 189[1], no.197, horses head at top centre, scrollwork at left, green, good very fine. £100-120 Racehorse dealer and auctioneer founded in England and Ireland in 1766. This and the following lot represent the company’s efforts to form branches in the United States.

803 Stratton’s Independence Ltd., 2/6d shares, fully paid, [1913], no.6247, capital £125,000, scrollwork at left, red, very fine. £120-150 Winfield Scott Stratton, Cripple Creek’s first gold millionaire, sold his Independence mine at the height of the boom to English investors with a capital of £1,000,000. The company was soon reorganised with a more realistic capital as this piece reflects.

805 Tattersalls (of New York) Ltd., £5 ordinary shares, 189[1], no.117, horse’s head at top centre, scrollwork at left, black, very fine. £100-120

THE END OF THE SALE

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69 Southampton Row, Bloomsbury, London WC1B 4ET tel: +44 (0)20 7563 4020 fax: +44 (0)20 7563 4037 email: auctionteam@spink.com

Name ______________________________________________________

WRITTEN BIDS FORM

this form should be sent or faxed to the spink auction office in advance of the sale. address ____________________________________________________ references for new clients 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.

____________________________________________________________ YOU CAN ALSO BID IN REAL TIME ON SPINK LIVE.

postCode ___________________________________________________

JUST VISIT WWW.SPINK.COM TO REGISTER

saLe titLe

date

Code Name

saLe No.

Bonds and Share Certificates of the World

Thursday 29 November 2012 at 10.00 a.m.

WINDMILL

12011

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 of each lot. all bids shall be treated as offers made on the terms and Conditions for buyers printed in the catalogue. i also understand that spink provides the service of 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 live bidding service.

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)

–––––––––––––––––––––––––––––––––––––––––––––––

––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

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teL. home

______________________________________________

teL. offiCe ____________________________________________

____________________________________________________

e-maiL ________________________________________________

sigNature _______________________________________________

vat Number ___________________________________________

fax

please indicate the type of card:

v isa

v isa 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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date

saLe No.

Thursday 29 November 2012 at 10.00 a.m.

12011

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)

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 £100 to £300 £300 to £600 £600 to £1,000

by £5 by £10 £320-£350-£380-£400 etc. by £50

£1,000 to £3,000 £3,000 to £6,000 £6,000 to £20,000 £20,000 and up

by £100 £3,200-£3,500-£3,800-£4,000 etc. by £500 auctioneer’s discretion

Lot Number (in numerical order)

price bid £ (excluding buyer’s premium)

VAT is chargeable on the hammer and the premium 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.

REFERENCES REQUIRED FOR CLIENTS NOT YET KNOWN TO SPINK

trade refereNCes

baNK refereNCes

________________________________________________________________________________________ _____________________________________________________________________________________________________

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AUCTION RESULTS saLe:

Bonds and Share Certificates of the World

saLe No:

12011

date:

Friday 18 May 2012

v eNue:

London

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

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

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

Lot 1 2 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 20 22 24 25 26 27 29 30 31 32 33 34 35 36 37 39 40 41 42 43 44

Price £40 £120 £110 £110 £80 £230 £170 £950 £4,200 £60 £130 £40 £40 £90 £40 £70 £160 £120 £60 £110 £90 £70 £90 £45 £180 £150 £90 £90 £30 £400 £210 £110 £220 £100 £50 £180 £200 £350

Lot 45 46 47 49 50 51 52 53 54 55 56 57 58 59 60 61 63 64 65 66 67 68 69 70 71 72 73 74 76 77 78 79 80 81 82 84 86 87

Price £60 £80 £70 £70 £120 £80 £150 £70 £140 £170 £210 £290 £270 £250 £420 £450 £480 £220 £600 £520 £270 £1,200 £1,600 £160 £190 £480 £500 £750 £120 £210 £350 £280 £600 £950 £350 £550 £1,000 £180

Lot 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125

Price £260 £300 £450 £650 £320 £480 £320 £200 £350 £1,900 £480 £800 £800 £1,500 £450 £550 £650 £1,300 £1,100 £1,700 £2,400 £2,400 £2,500 £80 £1,250 £1,250 £1,200 £1,250 £2,100 £1,000 £130 £1,300 £1,300 £1,700 £220 £1,100 £140 £700

Lot 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 148 151 152 153 154 155 156 157 158 159 161 162 163 166 167 168 170

Price £800 £400 £260 £280 £1,200 £160 £150 £250 £700 £320 £130 £230 £100 £130 £160 £260 £90 £300 £480 £90 £190 £80 £480 £220 £190 £600 £120 £320 £400 £300 £850 £2,900 £170 £40 £240 £50 £50 £50

Lot 171 172 173 174 175 176 177 178 179 180 181 183 186 187 188 189 189A 190 191 193 196 198 199 200 202 204 205 206 207 209 210 212 213 215 218 220 221 222

Price £100 £70 £80 £100 £550 £70 £280 £210 £350 £170 £160 £120 £100 £90 £120 £120 £60 £80 £170 £100 £160 £100 £100 £170 £40 £50 £110 £70 £45 £130 £60 £600 £300 £90 £60 £60 £80 £520

Lot 223 224 225 226 227 228 229 230 231 232 233 234 235 237 238 239 241 242 244 245 246 247 250 251 252 253 254 255 256 257 258 259 260 261 263 265 266 267

Price £110 £70 £120 £80 £40 £70 £105 £80 £80 £200 £580 £150 £90 £270 £80 £550 £1,100 £1,300 £200 £60 £40 £70 £180 £150 £320 £140 £140 £80 £80 £70 £60 £260 £750 £180 £290 £140 £260 £110

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Lot 268 269 271 272 274 275 276 277 278 279 280 281 282 283 284 289 290 297 298 299 301 303 306 308 312 313 317 318 319 320 321 322 323 325 328 329 330 333 335 336 337 338 339 341 342 344 345 346 347 348 349 351

1/11/12

Price £80 £120 £130 £70 £1,450 £100 £80 £60 £40 £130 £120 £140 £140 £150 £100 £60 £110 £70 £100 £70 £100 £60 £60 £100 £40 £70 £30 £40 £40 £40 £40 £40 £60 £40 £30 £50 £100 £110 £60 £2,000 £1,800 £60 £320 £220 £120 £150 £60 £50 £50 £40 £60 £160

11:58

Lot 352 353 354 356 357 358 361 362 363 364 366 367 368 370 371 373 374 376 377 378 381 382 383 384 385 388 389 390 391 392 395 396 399 401 402 403 404 405 406 407 410 411 412 414 415 416 417 418 420 421 422 425

Page 202

Price £70 £90 £40 £600 £200 £450 £7,500 £1,800 £130 £300 £110 £500 £60 £120 £180 £40 £55 £80 £90 £120 £120 £50 £130 £150 £60 £70 £110 £50 £70 £80 £90 £60 £110 £70 £110 £70 £90 £200 £170 £160 £130 £110 £110 £200 £220 £350 £400 £320 £90 £80 £50 £90

Lot 428 431 434 435 436 440 443 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 461 462 463 464 465 466 467 469 470 471 472 473 474 475 476 477 478 482 483 484 485 486 487 490 493 494 495 499 501 502

Price £100 £100 £60 £150 £120 £110 £100 £130 £60 £320 £110 £60 £40 £110 £270 £100 £60 £140 £120 £70 £80 £60 £110 £80 £70 £150 £150 £200 £110 £50 £60 £80 £170 £580 £70 £60 £60 £60 £150 £60 £150 £50 £600 £200 £150 £350 £60 £80 £150 £60 £80 £160

Lot 503 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 537 538 540 541 542 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563

Price £60 £60 £50 £230 £450 £120 £50 £40 £60 £70 £80 £120 £50 £110 £270 £180 £70 £350 £350 £60 £130 £90 £380 £520 £1,000 £480 £400 £100 £160 £80 £70 £110 £90 £70 £1,800 £210 £170 £250 £350 £120 £240 £140 £2,700 £400 £320 £280 £18,500 £110 £140 £70 £150 £70

Lot 564 565 566 567 568 569 570 571 572 573 574 575 576 578 579 580 581 582 584 585 586 587 588 589 590 591 592 593 595 596 597 599 600 601 602 603 604 605 606 608 609 610 611 613 615 616 619 620 621 622 625 626

Price £40 £70 £260 £1,300 £1,600 £450 £120 £140 £140 £140 £600 £60 £480 £180 £60 £60 £100 £1,100 £90 £380 £200 £600 £110 £130 £90 £150 £90 £480 £40 £180 £320 £110 £130 £100 £320 £520 £450 £120 £2,300 £150 £70 £60 £150 £150 £60 £180 £250 £180 £350 £70 £170 £90

Lot 627 628 629 630 631 632 633 634 637 638 641 642 643 644 646 653 654 655 658 659 661 662 663 664 665 668 669 670 671 672 673 674 676 679 681 682 683 684 685 686 687 688 689 690 691 693 694 695

Price £140 £120 £70 £750 £180 £240 £120 £70 £110 £240 £200 £200 £160 £400 £600 £200 £300 £70 £60 £70 £90 £230 £320 £90 £40 £100 £100 £70 £60 £90 £800 £40 £400 £80 £350 £250 £350 £350 £350 £70 £110 £130 £50 £190 £100 £90 £130 £130

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SPINK “ON THE GO” TECHNOLOGY

Spink are pleased to provide our clients with What you can expect from the Spink app: exciting mobile technology which allows you to Download auction catalogues straight to your take Spink with you no matter where on the globe device, which are then viewable while online or you may be. The Spink iPhone/iPad application, offline. which is available free of charge from the iTunes Search all available lots in sales. store, is simple to download! Once installed the programme will download the latest auction View lots individually and zoom in on important item details. catalogue instantly upon opening the application!

Share images, lots or entire auction catalogues We do hope you find these tools useful! Should you with friends via email, Twitter or Facebook. have any further questions or suggestions on how Email the Spink Concierge directly from your we can improve our technology in an effort to assist device to leave bids or receive a quick reply to any our clients, please contact Berdia Qamarauli, Head query you may have. of IT at Spink on bqamarauli@spink.com.

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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. 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 (Refund in the case of Forgery) of these Terms and Conditions and the provisions of clause 5.13 (Refund in the case of Forgery) shall apply accordingly.

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.

3.4.2 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. We reserve the right, at our discretion, to refuse a request for an expert opinion or Certificate of Authenticity including (without limitation) where the proposed expert is not known to us.

BEFORE THE SALE 3.1

3.2

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. You acknowledge and accept that the length of time taken by an Expert Committee to reach an opinion will vary depending on the circumstances and in any event is beyond our control.

Catalogue descriptions 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.

3.2.3 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.

3.3

3.4

Your Responsibility You are responsible for satisfying yourself as to the condition of the goods and the matters referred to in the catalogue description.

Extensions – Stamps only 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

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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.

3.4.5 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

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

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.

Some lots may be designated, prior to the auction, as “Premium Lots”, which means a deposit may be required before placing a bid on the item for sale. Information will be posted on our website in such an event.

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4.3

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.

4.4

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.

4.5

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.

4.6

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.

4.7

Currency Converter At some auctions, a currency converter will be operated, based on the one month forward rates of exchange quoted to us by Barclays Bank Plc 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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5

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.

4.14 Return of Lot Once your bid has been accepted for a Lot then you are liable to pay for that Lot in accordance with these Terms and Conditions. If there are any problems with a Lot then you must notify us within 7 days of receipt of the Lot, specifying the nature of the problem. We may then request that the Lot is returned to us for inspection. Save as set out in clause 5.13, the cancellation of the sale of any Lot and the refund of the corresponding purchase price is entirely at our sole discretion. We will not normally exercise that discretion if the Lot is not received by us in the same condition that it was in at the auction date.

AFTER THE AUCTION 5.1 Buyer’s Premium In addition to the Hammer Price, you must pay us the Buyer’s Premium at a rate of 20% of 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 have been paid in full. This includes instances where special arrangements were made for release of Lot prior to full settlement.

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 5.8.1 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.

5.8.2 It is the responsibility of the Buyer to be aware of any Import Duties that may be incurred upon importation to the final destination. Spink will not accept return of any package in order to avoid these duties. The onus is also on the Buyer to be aware of any Customs import restrictions that prohibit the importation of certain collectibles. Spink will not accept return of the Lot(s) under these circumstances. Spink will not accept responsibility for Lot(s) seized or destroyed by Customs.

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;

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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; 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 receipt of the Lot(s), 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 from receipt of the Lot(s), in the same condition as at the auction date; and

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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.

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

7 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.

8 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 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.

10 ADDITIONAL PROVISIONS 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 10.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

10.2 Severability 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.

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.

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.

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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10.5 Law and Jurisdiction 10.5.1 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.

10.5.2 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.

Postal Charges Prices for books (items sent by this method are not covered by insurance) Weight

UK

EU

Rest of the World

Up to 1kg

£8 for any weight

£12

£15

Up to 2kg

£8 for any weight

£18

£25

Prices for all other items including postage and packaging Invoice Value

UK

EU

Rest of the World

Up to £1,500

£10

£15

£20

Above £1,501

£20

£30

£40

Shipments of more than 2kg or volumetric measurement of more than 2kg have to be sent by courier. Certain countries may incur extra charge when courier services are required by our insurance policy. For lots sent by courier please contact Auctionteam@spink.com for calculation of any further relevant cost in addition to the above charges.

Value Added Tax (VAT) Charging of (VAT) at Auction The information shown on this page sets out the way in which Spink intends to account for VAT.

i.

Auctioneers’ Margin Scheme 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.

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.

ii.

Zero-Rated Lots 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.

iii.

Daggered Lots 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 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 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.

vi.

Imported Lots 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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GROUP CHAIRMAN AND CEO Olivier D. Stocker

SALE CALENDAR 2012/2013

YOUR SPECIALISTS STAMPS UK - Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith USA - George Eveleth Andrew Titley Ed Robinson Rick Penko EUROPE - Guido Craveri Fernando Martínez CHINA - Anna Lee Johnny Sang COINS UK - Paul Dawson Julie-Morgane Lecoindre Richard Bishop William MacKay Barbara Mears John Pett USA - Stephen Goldsmith Matthew Orsini Normand Pepin CHINA - Mark Li BANKNOTES, BONDS & SHARES UK - Barnaby Faull Mike Veissid Andrew Pattison Tom Badley USA - Stephen Goldsmith Matthew Orsini CHINA - Mark Li ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys BOOKS UK - Philip Skingley Bobby McBrierty AUTOGRAPHS USA - Stephen Goldsmith WINES CHINA - Anna Lee Guillaume Willk-Fabia YOUR EUROPE TEAM (LONDON - LUGANO)

STAMPS 3 November 13/14 November 14/15 November 15 November 15 November 27 November 12 December 13 January 13 January 23 January 24 January

The Collector’s Series Sale The Morgan Collection of Australian Commonwealth The Collector’s Series Sale La Collection “Alienor” - Type “Blanc” de France The Collector’s Series Sale Great Britain - The “Fordwater” Collection The Chartwell Collection - GB Line-Engraved Essays, Proofs, Stamps and Covers - Part IV The Mizuhara Collection of Korean Stamps Fine Stamps and Covers of Hong Kong and China The “Lionheart” Collection of Great Britain and British Empire Specimen Stamps The Collector’s Series Sale

Hong Kong London London London New York London London Hong Kong Hong Kong London London

CSS04 12046 12020 12051 141 12049 12021 13008 13009 13010 13011

The Collector’s Series Sale The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Fine Coins of Hong Kong and China The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Ancient, British & Foreign Coins and Commemorative Medals

Hong Kong New York London Hong Kong New York London London

CSS04 315 12027 13007 316 13012 13013

The Collector’s Series Sale World Banknotes The David Kirch Collection of English Provincial Banknotes - Part II Banknotes of Hong Kong and China The Collector’s Series Sale World Banknotes

Hong Kong London London Hong Kong New York London

CSS04 12024 12050 13005 316 13004

Orders, Orders, Orders, Orders,

London London London London

12004 13001 13002 13003

The Collector’s Series Sale Bonds and Share Certificates of the World Bonds and Share Certificates of Hong Kong and China The Collector’s Series Sale Bonds and Share Certificates of the World

Hong Kong London Hong Kong New York London

CSS04 12011 13006 316 13016

The Collector’s Series Sale

New York

An Evening of Exceptional Wines

Hong Kong

COINS 3 November 12/13 November 4/5 December 12 January 15/16 January 27 March 27 June

BANKNOTES 3 November 13 December 14 December 12 January 15/16 January 9/10/11 April

Chairman’s Office Dennis Muriu Monica Kruber Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Sandie Maylor Charles Blane Luca Borgo Phillipa Brown Rita Ariete Sarah Schmitz María Martínez Maurizio Schenini

MEDALS 22 25 25 21

November April July November

Decorations, Decorations, Decorations, Decorations,

Campaign Campaign Campaign Campaign

Medals Medals Medals Medals

& & & &

Militaria Militaria Militaria Militaria

Finance Alison Bennet Marco Fiori Mina Bhagat Alison Kinnaird Billy Tumelty IT & Administration Berdia Qamarauli Attila Gyanyi Liz Cones Curlene Spencer John Winchcombe Harry Gladwin Tom Robinson Cristina Dugoni Giacomo Canzi YOUR AMERICA TEAM (NEW YORK - DALLAS)

BONDS AND SHARES 3 November 29 November 12 January 15/16 January 17 May

Chairman Emeritus John Herzog Auction Administration and Marketing & Design Rick Penko Patricia Gardner James McGuire Emily Cowin Clyde Townsend

AUTOGRAPHS 15/16 January

316

Finance & Administration Sam Qureshi Ingrid Qureshi Ed Robinson Auctioneers Stephen Goldsmith Andrew Titley

WINES 6 December

YOUR ASIA TEAM (HONG KONG - SINGAPORE) Vice Chairman Anna Lee Administration Amy Yung Dennis Chan Newton Tsang Raymond Tat Gary Tan

The above sale dates are subject to change Spink offers the following services: – VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS – – SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

SFW02

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£25

R BONDS & SHARE CERTIFICATES OF THE WORLD

R 29 NOVEMBER 2012

69 Southampton Row, Bloomsbury, London WC1B 4ET www.spink.com

LONDON

© Copyright 2012

R

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES