Bonds and Share Certificates of the World

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£25

BONDS AND SHARE CERTIFICATES OF THE WORLD R

INCLUDING THE “LONDON” COLLECTION OF CHINA

BONDS & SHARE CERTIFICATES OF THE WORLD

R 7 JUNE 2013

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

LONDON

© Copyright 2013

R

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

7 JUNE 2013

LONDON

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GROUP CHAIRMAN AND CEO Olivier D. Stocker

SALE CALENDAR 2013

YOUR SPECIALISTS STAMPS UK - Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith USA - George Eveleth Arthur Poudrier Rex Bishop EUROPE - Guido Craveri Fernando Martínez CHINA - Anna Lee COINS UK - Mike Veissid Paul Dawson Richard Bishop William MacKay Eleanor Charlotte Dix Tim Robson Barbara Mears John Pett USA - Stephen Goldsmith Greg Cole Normand Pepin CHINA - Mark Li BANKNOTES, BONDS & SHARES UK - Barnaby Faull Mike Veissid Andrew Pattison USA - Stephen Goldsmith CHINA - Mark Li ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys BOOKS

STAMPS 21 May 5 June 28 June 10/11 July 15/16 August 10 September 11 September 21 September 21/22 September

The Award Winning “Medina” Collection of India, Part II Great Britain Stamps and Postal History The “Fordwater” Collection of Canada and BNA Colonies The Collector’s Series Sale The Collector’s Series Sale The Award Winning “Medina” Collection of India and States, Part III The Award Winning “Medina” Collection of Great Britain The Japanese Occupation Issues of South East Asia Stamps and Covers of South East Asia

London London New York London New York London London Singapore Singapore

13025 13026 143 13027 144 13028 13029 13038 13030

The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Tibetan Coins from the Nick Rhodes Collection The Collector’s Series Sale North East Indian Coins from the Nick Rhodes Collection Ancient, British & Foreign Coins and Commemorative Medals Ancient, British & Foreign Coins and Commemorative Medals

New York London Hong Kong New York London London London

316 13013 13020 317 13019 13014 13015

The Collector’s Series Sale The David Kirch Collection of English Provincial Banknotes Part IV: The North of England The Collector’s Series Sale World Banknotes The Ibrahim Salem Collection of African Banknotes World Banknotes

New York London New York London London London

316 13035 317 13018 13037 13034

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

London London

13002 13003

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

New York London New York London

316 13016 317 13017

The Collector’s Series Sale The Collector’s Series Sale

New York New York

316 317

An Evening of Exceptional Wines An Evening of Exceptional Wines

Hong Kong Singapore

COINS 22/23 May 27 June 21 August 28/29 August 24 September 27 September 3 December

UK - Philip Skingley Annie Beadle AUTOGRAPHS USA - Stephen Goldsmith WINES CHINA - Anna Lee Guillaume Willk-Fabia YOUR EUROPE TEAM (LONDON - LUGANO)

BANKNOTES 22/23 May 17 July 28/29 August 1/2 October 3 October 5 December

Chairman’s Office Monica Kruber Charles Blane Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Eleanor Ball Luca Borgo Rita Ariete Sarah Schmitz John Winchcombe Harry Gladwin María Martínez Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Alison Kinnaird Billy Tumelty Claire Greenhill IT & Administration Berdia Qamarauli Attila Gyanyi Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi

MEDALS 25 July 21 November

BONDS AND SHARES 22/23 May 7 June 28/29 August 28 November

YOUR AMERICA TEAM (NEW YORK) Chairman Emeritus John Herzog Auction Administration and Marketing & Design Sonia Alves Luke Mitchell

AUTOGRAPHS 22/23 May 28/29 August

Finance & Administration Sam Qureshi WINES

Auctioneer Stephen Goldsmith

June September

YOUR ASIA TEAM (HONG KONG - SINGAPORE) Vice Chairman Anna Lee Administration Amy Yung 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 –

SFW03

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BONDS AND SHARE CERTIFICATES OF THE WORLD

7 June 2013 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

SALE DETAILS friday 7 June 2013 at 10.00 a.m. in sending commission bids or making enquiries, this sale should be referred to as TREASURY - 13016

VIEWING OF LOTS spinK London 69 southampton row, bloomsbury London WC1b 4et thursday 6 June 2013 10.00 a.m. - 5.00 p.m. and during the sale

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bonds and share CertifiCates of the WorLd

INDEX BY COUNTRY ARGENTINA

522-528

AUSTRALIA

17-24

BELGIAN CONGO

361

JAPAN

236, 237, 261-266

LITHUANIA

361

MALAYA

267

BELGIUM

280-282

MANCHURIA

244-249

BRAZIL

529-535

MARTINIQUE

544

BULGARIA

283, 284

MEXICO

CANADA

27-30

CHILE

536

CHINA

4, 31-243

COLOMBIA

537

CONFEDERATE STATES OF AMERICA COSTA RICA CUBA CZECHOSLOVAKIA DAHOMEY EGYPT ESTONIA

571-574 4 538-543 285 6 2, 7, 8, 277 361

MOROCCO NEW ZEALAND NICARAGUA NIGERIA

1, 1A, 3, 545-556, 593 9, 277 25, 26, 361 557 5

OTTOMAN EMPIRE

269-276

PALESTINE

277-279

PANAMA PERU POLAND PORTUGAL POYAIS ROUMANIA

558 559, 560 361 280, 333-344, 361 561-563 345

FRANCE

286-312

RUSSIA

GERMANY

313-325

ST. HELENA

470

SARAWAK

268

GOLD COAST GREAT BRITAIN GREECE

5 361-469 326-329, 361

SERBIA SOUTH AFRICA

HONG KONG

169, 172

SPAIN

HUNGARY

330, 331

SWEDEN

INDIA INDO-CHINA IRELAND ITALY

236, 237, 250A-260 250 366, 416, 436, 437, 462

SWITZERLAND UNITED STATES URUGUAY

332, 361

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471-521

346, 347 12-16 348-357 358 359, 360 2, 30, 565-594 564

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June 7, 2013 - London

THEMATIC INDEX Agriculture

28-30, 281, 295, 299, 340-342, 349

Land

14, 462, 563

Loan and Mortgage

26, 328, 553

Aviation

288, 300

Leisure

167, 172, 173, 203, 450

Banking

12, 164-166, 236-238, 257, 283, 410-423, 491-500

Military

258

Mining

13, 17–24, 27, 201, 268, 356, 359, 360, 424-438, 537, 556, 559

Canals Chemicals Cinema City Loans

375-381, 558 301, 353, 445, 446, 461 Motor Cars

260, 305

294, 298, 304, 324, 405-409

Music

25, 148-163, 478-482

291-293, 297

Coal

438

Oil

345

Colonial Trade

344

Printing

296

Cotton Cycles Docks & Wharves Electricity Finance Food & Drink Gas Government

Hotels Insurance Investment Iron

Public Utilities

451, 459, 516-517 405-409

Railways

7, 10, 210, 217-220, 245, 245, 271-276, 285, 327, 357, 382-394, 483-490, 529-530, 535, 539, 540, 554, 564-569A

Shipping

289-290, 325, 395-404, 470, 501, 543

29, 171 174-187, 278, 338 250A-255, 410-423 280 447, 448, 453, 476 31-143, 204-235, 261-265, 270, 314-323, 326, 329-330, 348, 361-371, 472-477, 522-528, 545-552, 571-580 278A, 452, 458 168, 410-423 169 347, 518

3

441-443, 454-456, 468, 469

Telegraph

249

Telephone

189-191

Textiles

248

Theatre

309

Tobacco

284

Tramways

351, 521

Waterworks

192-201

Wood

506, 515

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THE DAVID KIRCH COLLECTION OF ENGLISH PROVINCIAL BANKNOTES PART IV: THE NORTH 17 JULY 2013 LONDON

The Hull Banking Company, Kingston upon Hull, unissued £5, 183-, a stunning design from the North.

Estimate: £800 - 1,200

For more information please contact Barnaby Faull: Tel: +44 (0)20 7563 4031 Fax: +44 (0)20 7563 4066 Email: bfaull@spink.com 69 Southampton Row, Bloomsbury, London WC1B 4ET WWW.SPINK.COM

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June 7, 2013 - London

FRIDAY 7 JUNE 2013 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 3 A group of worldwide bonds and share certificates, (39), from Roumania, Bulgaria, Venezuela, South Africa, Austria, Greece, Brazil, Mexico, France, Great Britain and Turkey, includes French Rand Gold Mining Company Ltd., 4 certificates for 25 shares, 1902 and Piraeus Athens Peloponnesus Railway Co., bonds for £100, (3) and £500 (1), 1885, most are very fine and some better. (39) £300-400

1 A small group of certificates comprising, National Railways of Mexico, 10 shares, second preferred nominative shares, 1930 (5); South Africa, The Exploration Co. Ltd., unissued certificate for 1 share, 190-, very attractive piece printed by Waterlow & Sons; Hypothec Bank of Japan, 2 different mortgage bonds for 10 yen; Ottoman 4% Loan of 1908, £20 bonds (2); Ottoman Loan, 1870, bonds for 400 francs (10), and Ottoman Public Debt, 1928, £20, mixed condition but many very fine. (21) £80-100

4 Bonds and shares of the World (57), from China, Russia, Brazil, South Africa, Costa Rica and Great Britain, including; China, 1913 Reorganisation Loan, £20 bonds (3); Russian Commercial & Industrial Bank, 10 shares of 250 roubles, 1913; Oriental Bank Corporation, £25 shares, 1853 and 1865; Chontales Gold & Silver Mining Co. Ltd., 1866; Winchester Cemetery, 1841; Hercules Fire & Life Insurance Co. Ltd., £2 shares, 1864, and Tal y Drws Slate Co. Ltd., 1864, mixed condition but many are very fine and better. (57) £500-600

x1A A small group of worldwide bonds and share certificates, including Mexico North Western Railway Co., 10 shares of $100 each, 1911 and a 5% First Mortgage bond for £100, 1909; British North American Tobacco Co. Ltd., 10 shares of $5, 19[13]; National Marine Bank, 18[84]; F.B.Wood Co. Ltd., 19[06]; Gimbel Brothers Inc., 2 examples dated 1947 and 1950, and others (5), generally very fine and better. (12) £80-100

2 A group of certificates from Russia, U.S.A., Canada, Egypt, South Africa, Spain and India, some duplication includes National Bank of Egypt, 1948, City of St. Petersburg, Bank of Siberia, Simmer & Jack East Ltd., Buffalo Mines, 1907 and a few shipping related certificates from the U.S.A., mixed condition, many very fine. (51) £80-100

5

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bonds and share CertifiCates of the WorLd

AFRICA BRITISH WEST AFRICA

EGYPT

5 British West Africa: A collection of certificates from Nigeria and Gold Coast, comprising Akoko Main Reef Ltd., 1920; Anglo-Nigerian Corporation Ltd., 1931; Ariston Gold Mines (1929) Ltd., 1937; Central Wassau Gold Mines Ltd., 1947; Juga Valley Tin Areas Ltd, 1927; Kassa-Ropp Tin Co. Ltd., 1919; Naraguta Tin Mines Ltd., 1960; Nigerian Base Metals Corporation Ltd., 1926; Nigerian Tin Corporation Ltd., 1921; Tin Areas of Nigeria Ltd., 1920 and United Gold Coast Mining Properties Ltd., 1915, mixed condition, fine to very fine. (11) £60-80 7 Cairo Electric Railways and Heliopolis Oases Co., a large group of certificates for 1 ordinary share of 250 francs, 1906, capital 15,000,000 francs (11) and 1911, capital 50,000,000 francs (107), vignette of Cairo skyline with pyramids in background, ornate border, red and black, the first printed by Bradbury, Wilkinson & Co., the latter by Verschueren in Antwerp, with coupons, about 10% have some condition problems, the rest extremely fine. (118) £400-500

DAHOMEY

6 Société Francaise du Dahomey, a pair of certificates, the first for one share of 500 francs, 1920, the second after a capital restructure for 150 francs, 192[3], colourful design with natives and their house, crocodile, palm trees and native head at top, with coupons, yellow, green and red, very fine to extremely fine. (2) £60-80

8 Societe Financiere D’Egypte S.A., 500 franc share, 1863, no. 17094, attractive piece with vignettes of Sphinx, Arab with camel and Neptune, various animals at top including hippo and crocodiles, red and black with pale green underprint, with coupons, tiny nick at left edge, extremely fine. £50-60 WWW.spinK.Com

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MOROCCO

MOZAMBIQUE x10 Beira Junction Railway (Port Beira to Fontesville) Ltd., bearer certificate for 10 shares, 1895, no. 5838, signed by the Trustees, ornate border incorporating vignette of steam locomotive at bottom, orange & blue, stamped cancelled, with coupons, almost extremely fine; together with The Anglo-African Produce Company, 100 francs shares, ordinary, 1897 and preference, 1898, no. 1794 and 4399, brown and blue respectively, ornate borders, arms at top centre, vignette with harbour scene at low centre, almost extremely fine and extremely fine. (3) £60-80

9 French Protectorate, 41⁄ 2 % Loan, 1929, bond for 1000 francs, Rabat 1929, no. 207711, very large format piece with photographic vignettes of aeroplane flying over city, dockside, bridge and various buildings, brown and green, with coupons, centre fold otherwise extremely fine. £60-80

11 Companhia do Nyassa, a group of certificates for 5 shares of 4.5 reis (25), all dated 190[0], attractive printing with green border and central scrollwork, black text which is in Portuguese, French and English, with coupons, generally extremely fine. (25) £200-300

7

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SOUTH AFRICA

12 Cape Commercial Bank, £12 share, [1854], no. 767, ornate border, black on grey paper, a lovely condition piece, extremely fine and scarce thus. £120-150

15

Established in 1854 and failed in 1882.

13 Kimberley Imperial Gold Mining Company Ltd., a group of 4 certificates for £1 shares, Kimberley 188[7], numbers A2893-6, issued to Alfred Beit and signed by Siegfried Neumann as director, ornate border, blue, Cape of Good Hope revenue stamps on reverse, good very fine but two with small ink stains. (4) £120-150 Floated in September 1886, owned 60 claims, about 40 miles east of Barberton.

14 Land and Investment Company for Africa Ltd., a group of 125 5% Debentures for £10 each, 189[9], large format, black, handsigned by Directors and Secretary, good VF. (125) £250-350 15 New Mercantile Exchange, certificate for one share, Colonial Office, Cape of Good Hope 1822, large format piece with plain black printing, unusually without any handwritten endorsements on the face, small chip from lower right corner, good very fine. £200-300

16 Robinson Deep Ltd., bearer warrant for 10 shares of 1 shilling, 19[16], no. 933, vignette of mine buildings, very ornate border, red and black with pale blue underprint, South African revenue stamp at right, with coupons, good very fine. £80-100

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AUSTRALASIA AUSTRALIA 17 A group of Australian certificates, comprising British Exploration of Australasia Ltd., £1 shares, 19[02], no. 426; Bayley’s Mines Ltd., 5/- shares, 190[3], no. 495; Narlarla Hills Silver Lead Mining Co. NL, £5 shares, 1906, no. 418; Caledonia Tin Mine NL, Greenbushes, 5/- shares, 190[0], no. 21; Pilbara Copper Fields Ltd., 5/- shares, 192[3], no.

525; Roebourne Copper Mines Ltd., £1 shares, 191[5], no. 283, and, a transfer certificate for shares in Abbott’s Gold Mine Ltd., 189[0], fine to very fine. (7) £100-120 18 A group of Western Australia certificates, comprising Bonnie Charlie Gold Mining Co. NL, Kanowna, 10 shilling shares, Adelaide [1901], mauve; Iron King Gold Mining Co. Ltd., Bulla Bulling, Coolgardie, 10 shilling shares, 190[3], brown; Brookman Brothers’ Boulder Gold Mining Co. Ltd., £1 shares, 18[98], black, small pieces missing from top corners, and Kalgoorlie Steam-Pressed Brick Coy Ltd., £1 shares, 189[6], brown, very fine or better unless stated. (4) £100-120

20 Boolong Mining Development Syndicate, Coolgardie, £20 shares, 1896, no. 20, of only 60 issued, scrollwork at left, black, WA adhesive revenue stamp; together with Iron King Gold Mining Co. Ltd., Bulla Bulling, Coolgardie, 10 shilling shares, 190[3], brown, both very fine to extremely fine. (2) £60-80

19 Band of Hope Gold Mining Company Regd.

Monkey Gully, £5 shares, 186[5], usual small format, pink, printed in Ballarat, spike hole at top left, very fine. £60-80 21 Hands Across the Sea Gold Mining Co. Ltd., near Coolgardie, £1 shares, 189[6], no. 173, ornate border, pink, together with Bonnie Charlie Gold Mining Co. NL, 10 shilling shares, [1901], no. 3560, mauve, the last with uneven left edge, very fine. (2) £60-80

9

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NEW ZEALAND

22 Long Reef Gold Mining Co. Ltd., a group of 3 certificates for £1 shares, [1901], no. 1325, [1902], no. 1907, with overprint of new registered office, and 19[02], no. C14 from the Colonial register in Perth, all similar design, brown printing, embossed seals, about very fine and better, the last rare. (3) £100-120

23 Wellesley Quartz Gold Mining Company, Mount Egerton, £3 shares, 186[9], no. 1283, usual small format, black, printed in Ballarat, spike hole at top left, good very fine and scarce. £60-80

25 City of Wellington, 6% Loan, 1877, a specimen £100 debenture from the Bradbury, Wilkinson & Co. archive, ornate border, orange and black, £100 in underprint, with coupons, small hole cancels over signature area, very fine to extremely fine and very rare. £150-180

24 Westralian Mining and Oil Corporation Ltd., a pair of certificates for 10 shilling shares, 1902, no. 1325 and 190[4], no. 1985, of different design, scrollwork at left, black, printed in Perth, the first by Wigg and Son and the second by Perth Printing Works, good very fine. (2) £60-80

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CANADA

26 Nelson Brothers Ltd., specimen first mortgage debenture for £100, 188-, from the Bradbury, Wilkinson & Co. archive, Maori head at top, ornate border, black, with coupons, extremely fine. £60-80

27 Central Railway Company of Canada, First Mortgage 5% Loan, a small group of 4 bonds for $100, 1914, steam train at top, ornate borders, red and black with coupons, printed by Bradbury, Wilkinson & Co., extremely fine. (4) £100-120

11

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28 Canadian Agricultural, Coal & Colonization Co. Ltd., a group of 7 perpetual debentures for £100, 1889, large format piece with ornate borders, brown with pale blue underprint, with coupons, very fine to extremely fine. (7) £60-80

30 San Antonio Land & Irrigation Co. Ltd., a group of 55 6% First Mortgage bonds for £20, 1911, ornate border, vignettes of cotton pickers and old church, black and mauve, with coupons, printed by Waterlow & Sons, very fine or thereabouts. (55) £300-400

x29 Canadian North Pacific Fisheries Ltd., 50 shares of $5, 19[11], no. A1223, lovely vignette of beached whale with steam vessel and rowing boat, dark bluegreen, yellow underprint, good very fine. £80-100

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ASIA THE ‘LONDON’ COLLECTION OF CHINESE BONDS Foreign Bonds

31 Chinese Imperial Government, 8% Loan, 1877, bond for £100. no.

12002, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate border, green and black, red chop, no coupons stamp cancelled, cut close at edges where coupons removed, very fine and so far unique on the market. £6,000-8,000 13

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32 1895 4% Gold Loan, bond for 500 francs, no.

396742, issued in St. Petersburg, ornate border, brown, black and yellow, red ‘chop’, no coupons, 5 large cancellation holes as normal, centre creasing and slightly uneven left hand border otherwise good fine. £300-400

33

33 1895 4% Gold Loan, bond for 500 francs, issued in St Petersburg, ornate border, brown, black and yellow, red ‘chop’, 32 coupons (also uncancelled), tear on right hand border and nicks along bottom, very fine, uncancelled and extremely rare. £500-600

34 1895 4% Gold Loan, bond for 500 francs, no.

026233, overstamped “Duplicate” and uncancelled, issued in St Petersburg, ornate border, brown, black and yellow, red ‘chop’, single coupon (also overstamped “Duplicate”), centre fold and some creasing and uneven left hand edge otherwise good fine and rare. £600-800 WWW.spinK.Com

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36

35 1895 4% Gold Loan, cancelled bond for 2500 francs no. 535936-535940, issued in St Petersburg, ornate border, blue and brown, red ‘chop’, with 30 coupons and cut cancellation holes in bond and coupons, rare with some tape on edges and blue pencil markings top right otherwise good fine. £600-800

36 Chinese Imperial Government, 1896 5% Gold Loan, part set of bonds for £25, no. A06510, £50, no.

B27308 and £100, no. C41428 issued by the Deutsch-Asiatische Bank, large format, ornate borders, blue, brown and green, text in English and German, hole cancelled, generally very fine. £120-150

37 1898 4.5% Gold Loan, £25 bond, no. 001051, issued by Hongkong and Shanghai Banking Corporation, large format, ornate border, red and black, red chop in centre, with coupons, small piece missing right border and top edge otherwise very fine. £120-150 15

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39

38 1898 4.5% Gold Loan, £50 bond, no. 000697, issued by Hongkong and Shanghai Banking Corporation, large format, ornate border, orange and black, red chop in centre, with coupons, very fine. £120-150

39 1898 4.5% Gold Loan, bond for £500, no. 001647, issued by the Hongkong and Shanghai Banking Corporation, large format, ornate borders, mauve and black, text in English and German, red chop in centre with coupons, edge tears at left and bottom edges but no pieces missing, toned in centre, fine. £300-400

40 1898 4.5% Gold Loan, group of bonds, £25, £50 and £100 issued by the Deutsch-Asiatische Bank and £100 issued by Hongkong and Shanghai Bank, large format, ornate borders, text in English and German, red chops in centre, with coupons, generally very fine.

(4) £100-120 41 1898 4.5% 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. £300-400

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44 Chinese Imperial Government 4.5% Gold Loan 1898, inscribed stock certificate for bond no. 19880, rare and unusual item dated 1941, black and white and issued to John Layard Whythead, Civil Servant, some pin holes top left otherwise good very fine. £60-80 All bearer bonds of the 1898 issue were exchangeable for inscribed stock on payment of a small fee.

42 1898 4.5% Gold Loan, unissued £50 bond from the reserve stock, issued by Deutsch-Asiatische Bank, large format, ornate border, orange and black, not numbered, no red chop in centre, with all coupons, extremely fine and scarce. £300-400

45 Chinese Imperial Railway 5% Gold Loan, 1899, bond for £100, no. 11906, large format, ornate border with pale blue underprint and red chop in centre with coupons, small tears right hand border, otherwise very fine for issue. £120-150

43 1898 4.5% Gold Loan, bond for £500, no. 002440, issued by Deutsch-Asiatische Bank, large format, ornate borders, mauve and black, text in English and German, red chop in centre with coupons, tape repairs to edges and small piece missing from bottom right corner otherwise fine and rare. £1,500-2,000 17

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46 5% Gold Imperial Chinese Loan of 1900, $1000 bond, no. 06819 additionally secured by a first mortgage on the Hankow-Canton Railway, issued in Washington, pagoda top centre, ornate border, yellow and black, hole cancellations in signature spaces, with coupons, centrefold creasing and some damage around signature holes otherwise very fine and so far a unique piece. ÂŁ4,000-5,000 ex Phillips.

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48

47 1902 5% Gold Loan ‘Cheng-Ting Railway Loan’, bond for 500 francs, Paris 1903, no. 04151 and coupon receipt no. 6487, large format, ornate border incorporating dragons and architectural designs, brown and black, green underprint no coupons, centrefold and small nicks along right hand border otherwise very fine. (2) £150-180 48 1902 4% Russian State Loan, set of 3 bonds issued to realize the contribution due to Russia in compensation for losses incurred as a result of Chinese disorders, 1000, 2000 and 5000 German Reichsmarks, pink and green, green and blue and beige and pink, ornate borders with coupons, some centrefold creasing otherwise generally very fine. (3) £60-80 49 ‘Emprunt Chinois’ 5% Gold Loan 1903, a duplicate 500 franc bond dated 1905, no. 26053, overstamped “DUPLICATA”, together with regular issued bonds dated both 1905 and 1907, Chinese arch with ornate borders, red and black with buff underprint, duplicate bond with old sellotape repair, rare, all with pin holes and creasing otherwise fine to very fine. (3) £500-600 50 Chinese Imperial Railway 5% Gold Loan, Shanghai-Nanking Railway, a group of 3 bonds each for £100, long thin format, red pink and black, 2 bonds dated 1904 and one dated 1907, with coupons, average condition for this issue, generally very fine. £100-120

49

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bonds and share CertifiCates of the WorLd 51 Shanghai-Nanking Railway 1904, set of 5 net profit sub-certificates, printed signature of William Keswick, director of the British and Chinese Corporation Ltd., black and white with dividend payment stamps on reverse, generally very fine. (5) £80-100

53

52 ‘Emprunt Chinois’ 5% Gold Loan 1905, unissued 500 francs bond, ornate borders, green and black with buff underprint and full coupon sheet attached, extremely fine and rare. £300-400

53 1905 Honan Railway 5% Gold Loan, pair of bonds for £100, first issue no. 938 dated 1905 and second issue no. 7071 dated 1906, together with fractional scrip certificate dated 1938, large format, ornate border, blue-green and black with yellow underprint, both with coupons, heavy folds and some tears on edges otherwise fine. (3) £180-220

54 Canton Kowloon Railway 5% Loan, 1907, £100 bond, large format, red and black, printed by Waterlow & Sons, with coupons, very fine. £60-80

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56

55 1908 5% Gold Loan, bond for £20 issued by the Hongkong and Shanghai Banking Corporation dated 1909, walled city of Peking at top, green and black, printed by Waterlow & Sons, hole top left and some nicks otherwise very fine and scarce issue. £200-250

56 1908 5% Hongkong 1909, no. mauve and very fine.

Gold Loan, bond for £100 issued by and Shanghai Banking Corporation in A008227 walled city of Peking at top, black, printed by Waterlow & Sons, good £200-250

57 1908 5% Gold Loan, £20 bond issued by Banque de L’Indo-Chine 1909, walled city of Peking at top, green and black, printed by Waterlow & Sons, some nicks and pin holes otherwise about very fine. £60-80 21

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58 1908 5% Gold Loan, bond for £20 issued by Banque de L’Indo-Chine in 1909, no. B076986, walled city of Peking at top, green and black, printed by Waterlow & Sons, rare, hole cancelled bond with original coupons numbered 55-60 still attached, small tear top otherwise good very fine. £120-150

60

59 1908 Tientsin Pukow Railway Loan, pair of bonds for £20, one with original coupons, together with bond for £100, issued by Deutsch-Asiatische Bank, large format, mauve and blue and mauve and green respectively with coupons, generally very fine. (3) £60-80 60 1908, 5% Tientsin Pukow Railway Loan, a pair of £100 bonds issued by Chinese Central Railways Ltd., with and without comma varieties, large format with ornate borders orange and black with overstamp showing reduced interest rate, one extremely fine and one with hole top left, ink stains bottom and heavy folds. £60-80 61 5% Tientsin Pukow Railway Loan, pair of £100 bonds, both 50% repaid, with and without comma varieties, issued by Chinese Central Railways, large format with ornate border, orange and black with new coupon sheet and overstamped “£50 principal repaid”, some ink marks as is usual with this issue, good very fine. (2) £200-300 WWW.spinK.Com

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June 7, 2013 - London 62 1910 5% Tientsin Pukow Railway Loan, pair of bonds for £20 and £100, issued by Deutsch-Asiatique Bank, large format, mauve and green and pink and green respectively, with coupons, with £100 bond, issued by Chinese Central Railways, green and black with coupons, and £12 ‘Anteilischein’, red, dated 1938, generally very fine. (4) £120-150 63 1911, 5% Hukuang Railways Sinking Fund Gold Loan, £20 and £100 bonds issued by Hongkong and Shanghai Banking Corporation, large format, steam train at top, green and black and red and black respectively, printed by Waterlow & Sons, generally very fine but £100 bond with partially split centre crease.

(2) £100-120 64 1911, 5% Hukuang Railways Sinking Fund Gold Loan, bonds for £20 and £100 issued by Banque de L’Indo-Chine, large format, steam train at top, green and black and red and black respectively, printed by Waterlow & Sons, very fine some creasing and nicks along bottom edge of £100 bond. (2) £80-100

62

65 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a specimen £20 bond issued by Banque de L’Indo-Chine, large format, steam train at top, green and black, printed by Waterlow & Sons, overprinted SPECIMEN and numbered 00000, small cancellation holes and full coupon sheet, some folds, otherwise very fine to extremely fine. £600-800

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bonds and share CertifiCates of the WorLd 66 1911, 5% Hukuang Railways Sinking Fund Gold Loan, £20 and £100 bonds issued by DeutscheAsiatische Bank, large format, steam train at top, printed by Waterlow & Sons, with coupons, about very fine with centre creases and some splitting. (2) £80-100

68 1911 5% Imperial Railway Loan, bond for 100 yen no. 000112, issued by Yokohama Specie Bank, ornate border, Chinese dragons at top, blue and black, pale yellow underprint, text in Chinese with English on reverse, with coupons, some pin holes top left otherwise very fine. £200-250 67 1911, 5% Hukuang Railways Sinking Fund Gold Loan, £20 bond no. 70125 and £100 bond no.

105773 issued by American Bankers consortium led

by J P Morgan & Co., only 150 £20 bonds issued, large format, steam train at top, green and black and red and black respectively, printed by Waterlow & Sons, £20 very fine, £100 has staining top right and broken centre crease. (2) £1,400-1,800

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69 1911 5% Imperial Railway Loan, bond for 1000 yen, no. 003870, ornate border, Chinese dragons at top, orange and black, pale blue underprint, text in Chinese with English on reverse, with coupons, coupons taped to bond along right hand edge and some pin holes otherwise good very fine. ÂŁ250-300

70 1911 5% Imperial Railway Loan, bond for 5,000 yen, ornate border, Chinese dragons at top, green and black, pink underprint, text in Chinese with English on reverse, with coupons, some taping of coupons, pin holes top right otherwise very fine. ÂŁ300-400

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71 1912 5% Gold ‘Crisp’ Loan, part set of £500, no. C0445, £100 and £20 bonds, large format with ornate borders, with coupons, some creasing otherwise generally very fine. (3) £250-300

72 1912 5% Gold ‘Crisp’ Loan, £1000 bond no. D556, large format piece with ornate border, red with yellow underprint, coupons, some folds and pin holes otherwise very fine. £800-1,000

73 1912 8% Gold Treasury Bond, provisional £9 bond, number 12683, ornate border, slate and black, extremely fine and rare. £80-100

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74 Chinese Central Government Loan, 1912, 6% bond for ÂŁ1000 no. 403, large format piece, green with yellow underprint and mauve chop bottom right, with coupons, tape marks left hand side otherwise very fine and very rare. ÂŁ2,000-2,500 27

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bonds and share CertifiCates of the WorLd 75 1913, Lung Tsing U Hai Railway 5% Gold Loan, a group of 5 bonds for £20, including 2 unissued reserve stock, large format, ornate border, blue and black, text in English and French, with coupons, very fine and better. (5) £80-100

78 1913 5% Reorganisation Gold Loan, pair of bonds for £20 and £100 issued by Hongkong and Shanghai Banking Corporation, ‘Mercury’ at top, peasants and buildings at either side, brown and blue respectively, with coupons, very fine, some nicks on right edge of £100 bond. (2) £500-600

76 1913, Lung Tsing U Hai Railway 5% Gold Loan, a duplicate £20 bond, no. B077303, overstamped “Duplicata” in large red letters, issued in exchange for damaged or lost bond, large format, blue and black, text in Engilish and French, with coupons, good very fine and rare. £500-600 77 Lung Tsing U Hai Railway, a mixed group of 13 issued and unissued bonds and related material, including a pair of Dutch Loan bonds, 1920 and 1923, each for 1000 florins, ornate borders with vignette at top; a pair of certificates for unpaid coupons, Amsterdam 1928, 1st and 2nd tranches; issued and unissued varieties of 8% Treasury Bonds 1920, 1921 and 1923; 8% treasury bond dated 1925, and 2 Provisional Certificates for Treasury Bonds of 1925, generally about very fine. (13) £150-200

79 1913 5% Reorganisation Gold Loan, pair of bonds for £20 and £100, issued by Deutsch-Asiatische Bank, ‘Mercury’ at top, peasants and buildings at either side, brown and blue respectively, printed by Waterlow & Sons, with coupons, good very fine. (2) £500-600 80 1913 5% Reorganisation Gold Loan, £20 bond issued by Banque de L’Indo-Chine, ‘Mercury’ at top, peasants and buildings at either side, brown and blue respectively, printed by Waterlow & Sons, with coupons, good very fine. £100-120

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June 7, 2013 - London 83 1913 5% Reorganisation Gold Loan, £20 bonds (3) issued by Russian-Asiatic Bank together with 2 x receipts, ‘Mercury’ at top, peasants and buildings at either side, brown and blue respectively, printed by Waterlow & Sons, with coupons, and hand written endorsement relating to Belgian duty stamp, generally about extremely fine. (5) £300-350

81 1913 5% Reorganisation Gold Loan, an interesting cancelled £20 bond issued by Banque de L’IndoChine, ‘Mercury’ at top, peasants and buildings at either side, brown and blue respectively, printed by Waterlow & Sons, with coupons from January 1925, good very fine with repeated hole cancellations. £80-100

84 1913, 5% Reorganisation Gold Loan, a group of £20 bonds (3), including one with blue “original security duly stamped”, all countersigned by the Russo Asiatique Bank, with Russian revenue stamp top right, Mercury at top, city view and peasants either side, green, printed by Waterlow & Sons with coupons, very fine and better. (3) £300-350 85 1913, 5% Reorganisation Gold Loan, £20 bonds (3) with various revenue stamps, including one with Russian stamp, all countersigned by Russian Asiatic Bank, Mercury at top, city view and peasants either side, brown, printed by Waterlow & Sons with coupons, very fine and better. (3) £300-350 82 Emprunt or 5% de Reorganisation 1913, provisional certificate for bond issued by Banque Russo-Asiatique for Roubles 189.40, yellow and black, issued in St Petersberg, very fine. £80-100 29

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86 1913, 5% Reorganisation Gold Loan, a duplicate £20 bond, issued by the Russian Asiatic Bank, overstamped “Duplicate” top left and right in red, and countersigned by the Hongkong & Shanghai Banking Corporation after the failure of the Russian Asiatic Bank in 1926, Mercury top, city view and peasants either side, brown, printed by Waterlow & Sons, with coupons, good very fine. £600-800

87

87 1913, 5% Reorganisation Gold Loan, a duplicate £20 bond, issued by the Russian Asiatic Bank, overstamped “Duplicate” top left and right in red, and later countersigned by the Hongkong & Shanghai Banking Corporation after the failure of the Russian Asiatic Bank in 1926, Mercury top, city view and peasants either side, green, printed by Waterlow & Sons, with coupons, ink stain bottom left otherwise good very fine. £600-800

88 Chinese Central Government, 1913 ‘Austrian’ Loan, £1000 bond dated March 1913, no. 266 of 300 issued, large format piece, green and black, red ‘chop’ centre, centrefold creasing and some pen markings otherwise very fine and extremely rare. £1,500-2,000 88 WWW.spinK.Com

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June 7, 2013 - London 89 1913 Chinese Central Government 6% ‘Austrian’ Loan, £100 bond dated September 1913, no. 09228, large format piece with ornate border, green and black, red ‘chop’ in centre, 2 coupons remain, small tear at right, some creasing, very fine and rare. £1,200-1,500

90 Chinese Central Government, 1913 6% ‘Austrian’ Loan, £500 bond dated September 1913, no. 11477, large format piece, brown and black, red chop in centre, heavy creasing ink stains and damaged left hand edge otherwise very fine and rare. £1,200-1,500

89

91 Chinese Central Government, 1913 6% ‘Austrian’ Loan, £1000 bond dated September 1913, no.

11704, large format piece, with ornate border, blue and black, red ‘chop’ in centre, no coupons remain, badly damaged across centrefold and several nicks along edges otherwise fair and scarce. £1,200-1,500

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92 1913 Chinese Central Government 6% ‘Austrian’ Loan, £50 bond dated October 1913, no. 07441, large format piece with ornate border, mauve and black, red ‘chop’ in centre, 2 coupons remain, some creasing and red marking otherwise very fine and rare. £1,500-1,800

93 1913 Chinese Goverment Shanghai-Nanking Railway, 6% Government Guaranteed Sterling Land Bond, unissued £1,000 bond, one of only 10 found at the Hongkong and Shanghai Banking Corporation, large format, red and black with all coupons and original wrapper of the ten bonds, uncirculated and rare. £600-800

94 1914 5% Emprunt Industrielle, unissued provisional certificate for 500 francs from the reserve stock, ornate border, blue and beige, with 1914 500 francs bond dated 1914, 1914 issued bond trimmed, reserve stock extremely fine and rare. £100-150 WWW.spinK.Com

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95 1914 5% Gold Loan, treasury note for 500 francs from the reserve stock, issued by the Banque Industrielle de Chine, ornate border, yellow brown, with coupons, centre fold but about extremely fine and rare. £600-800

96

96 1914 5% Special Loan, bond for £9, no. 7307, large format piece with ornate borders, text in English and French, brown and yellow, with coupons, small hole cancellation through signature, some soiling at right side but very fine and very rare. £800-1,000 This was probably a European issue for an internal loan as the usual exchange rate was 100 yuan to £9 but this needs further research.

97 1914, 6% Shanghai-Fengching Railway Mortgage Redemption Loan, unissued bond for £1,000, one of 20 pieces found in a branch of the Hongkong and Shanghai Banking Corporation, large format, green and black, yellow underprint, red ‘chop’ at bottom, with all coupons, extremely fine and rare. £600-800 33

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98 Ching-Yu 5% Gold Loan 2nd Series, treasury note (bon du tresor) for 1,000 francs, unissued reserve stock, dated 1915 from the archives of the Banque Industrielle de Chine, of only 12 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £600-800

99 Ching-Yu 5% Gold Loan 2nd Series, treasury note (bon du tresor) for 20,000 francs, unissued reserve stock, dated 1915 from the archives of the Banque Industrielle de Chine, of only 18 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £600-800

100 Ching-Yu 5% Gold Loan 2nd Series, treasury note (bon du tresor) for 50,000 francs, unissued reserve stock, dated 1915 from the archives of the Banque Industrielle de Chine, of only 90 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £600-800

101 Ching-Yu 5% Gold Loan 2nd Series, treasury note (bon du tresor) for 152 francs, unissued reserve stock, dated 1915 from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £800-1,000

102 Ching-Yu 7% Gold Loan 3rd Series, treasury note (bon du tresor) for 1,000 francs, unissued reserve stock, dated 1916 from the archives of the Banque Industrielle de Chine, of only 35 intended for issue, large format, decorative border, small number of cancellation holes, blue with red chops, extremely fine and rare. £600-800

Lots 95, 98 to 106 and 118 to 120 are from a superb find of documents held since the failure of the Banque Industrielle de Chine in 1920 and acquired by this collector some years ago. In many cases only one piece was found but in some cases up to 6 or 7 of a type exist. These were dispersed some 12 years ago.

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103 Ching-Yu 7% Gold Loan 3rd Series, treasury note (bon du tresor) for 100,000 francs, unissued reserve stock, dated 1916 from the archives of the Banque Industrielle de Chine, of only 50 intended for issue, large format, decorative border, small number of cancellation holes, brown with red chops, extremely fine and rare. £600-800

105 Ching-Yu 7% Gold Loan 4th Series “A”, treasury note (bon du tresor) for 8,333.33 francs, unissued reserve stock, dated 1917 from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, orange brown with red chops, extremely fine and rare. £800-1,000

106 Ching-Yu 7% Gold Loan 4th Series “B”, treasury note (bon du tresor) for 8,333.33 francs, unissued reserve stock, dated 1917 from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £800-1,000

104 Ching-Yu 7% Gold Loan 3rd Series, treasury note (bon du tresor) for 567 francs, unissued reserve stock, dated 1916 from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, extremely fine and rare. £800-1,000

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bonds and share CertifiCates of the WorLd 110 1918 8% Treasury ‘Marconi’ Bill, £500 bond, no.

001794, of only 500 issued, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, a few edge nicks with small tear bottom and some split folds, otherwise very fine. £200-300

107 1918 8% Treasury ‘Marconi’ Bill, £100 bond, numbered 000001, ornate border, red printing, yellow underprint with coupons, on poor quality paper with severe damage, damaged edges and two pieces missing on bottom and right hand edge, poor. £100-200 108 1918 8% Treasury ‘Marconi’ Bill, £100 bond numbered 000367, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, edge nicks and pin holes, small piece missing right hand border otherwise very fine. £60-80

109 1918 8% Treasury ‘Marconi’ Bill, bond for £100, no. 001235, with original coupons, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, some minor edge damage and heavy creasing otherwise very fine and rare. £400-500

111 1918 8% Treasury ‘Marconi’ Bill, £500 bond no.

001565, with original coupons, ornate border, red and black, yellow underprint, on poor quality paper. some pin holes top right otherwise a lovely example, very fine and rare. £600-800

112 1918 8% Treasury ‘Marconi’ Bill, £500 bond, no.

001515, with original coupons, ornate border, red and black, yellow underprint, on poor quality paper, some creasing and small tear top edge otherwise very fine and rare. £600-800

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113 1918 8% Treasury ‘Marconi’ Bill, £1000 bond, no.

002066, of only 200 issued, ornate border, red and black, yellow underprint, on poor quality paper, edge nicks and tears with tape repairs, generally poor but scarce. £300-400 114 1919 8% 10-Year Sterling Treasury Notes, ‘Vickers’ Loan, a set of three bonds for £100, £500 and £1000, small dockside vignette, green, blue and brown respectively, all with coupons, £1000 bond with large tear centre, tape repair on reverse, otherwise generally about very fine. (3) £400-500

115 1919 8% 10-Year Sterling Treasury Note, ‘Vickers’ Loan, a specimen £500 bond, from the Bradbury, Wilkinson & Co. archive, dockside vignette, blue and black, full coupon sheet attached, two small hole cancellations otherwise extremely fine and rare. £600-800

116 1919 8% 10-Year Sterling Treasury Note, ‘Vickers’ Loan, a specimen £1000 from the Bradbury, Wilkinson & Co archive, dockside vignette, brown and black, full coupon sheet attached, numbered 00000, two small hole cancellations otherwise extremely fine and rare. £600-800 37

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117 1919 6% 2-Year Secured Gold ‘Chicago Bank’ Loan, $1000 bond no. 5274, vignette of pagoda at top, orange and black, printed by the American Bank Note Company, with coupons and sheet of scrip certificates, good very fine. £300-400

118 Ching-Yu 5% Gold Loan 1919 special series “C”, treasury note (bon du tresor) for 50,000 francs, unissued reserve stock, from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, orange brown with red chops, extremely fine and rare. £800-1,000

119 Ching-Yu 5% Gold Loan 1919, special series “C”, treasury note (bon du tresor) for 100,000 francs, unissued reserve stock, from the archives of the Banque Industrielle de Chine, of only 21 intended for issue, large format, decorative border, small number of cancellation holes, orange brown with red chops, extremely fine and rare. £600-800

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120 Ching-Yu 5% Gold Loan 1919 special series “D”, treasury note (bon du tresor) for 50,000 francs, unissued reserve stock, from the archives of the Banque Industrielle de Chine, of only 1 intended for issue, large format, decorative border, small number of cancellation holes, green with red chops, heavy centrefold and nick at bottom edge otherwise about extremely fine and rare. £800-1,000 121 1922 8% Railway Equipment Loan, pair of £20 bonds, both issued and unissued reserve stock, large format with steam train in centre, blue black, text in French and English, reserve stock certificate with full coupon sheet attached, very fine to extremely fine. (2) £60-80 122 1925 8% ‘Skoda’ Loan, group of 8 bonds including one bond for £5, three bonds for £10, two bonds for £50 and two bonds for £100, ornate borders, various colours, ‘chop’ in centre, with varying numbers of coupons, generally very fine with some folds. (8) £250-300

123 1925 8% ‘Skoda’ Loan, bond for £5, no. 0002602, inverted ‘No.’, ornate border, brown blue and black, chop in centre, with coupons, about extremely fine with rare error. £500-600 39

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124 1925 8% ‘Skoda’ Loan, bond for £500, no. 0021682, ornate border, orange and black, ‘chop’ in centre with coupons, very fine. £200-250

125 1925 8% ‘Skoda’ Loan, bond for £1000, no.

0026749, ornate border, red and black, ‘chop’ in centre, with coupons, extremely fine. £200-250

126 1925 8% ‘Skoda’ Loan, a duplicate bond for £1000, no. 0026748, ornate border, red and black, ‘chop’ in centre, with coupons, overprinted DUPLICATE, extremely fine with annotation in Chinese in border, rare. £600-800

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127 1925, 5% Gold ‘Boxer’ Loan, bond for $50, number 000,001, signed around the body by 20 or so officials from the issuing bank, the Banque Industrielle de Chine, and retained by one of the directors, ornate border, brown and yellow, with all coupons intact, together with another issued example, about extremely fine and the first unique. (2) £2,500-3,000 41

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128 1928 6% Gold Loan ‘Belgian Boxer’, bond for US$100, no. 25, 657, ornate border, green and black, with coupons, couple of small edge tears, very fine. £120-150

129

129 1934 6% Sterling Indemnity Loan, bond for £50, no. 1030, vignette of Sun Yat Sen at top, brown and blue, green underprint, with coupons, extremely fine. £150-180

130 1934 6% Sterling Indemnity Loan, bond for £100, no. 2380, vignette of Sun Yat Sen at top, green and blue, beige underprint, with coupons, extremely fine. £150-180

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131 1934 6% Sterling Indemnity Loan, bond for £1000, no. 6529, vignette of Sun Yat Sen at top, red and blue, pink underprint, with coupons, extremely fine. £600-800

132 1936 6% Shanghai-Hangchow-Ningpo Railway Completion Loan, pair of bonds for £50 and £100, large format pieces with Sun Yat Sen top right, ornate borders, green, red and blue and brown, green and blue respectively, with coupons, about extremely fine and very fine. (2) £150-180

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133 1937 Secured Sinking Fund Bond (Pacific Development Loan), bond for $100, no. C54, one of only 3 known, pagoda at top, green and black, with coupons, ABNCo. printing, with certificate attached to denote American domicile of owner, extremely fine and rare. £800-1,000

134 1937 Secured Sinking Fund Bond (Pacific Development Loan), bond for $1000, no. M3791, pagoda at top, blue and black, with coupons, ABNCo. printing, with certificate attached to denote American domicile of owner, extremely fine. £300-400

135 1939 Republic of China Treasury Note, a specimen for £937.10.00 dated London 15th June and numbered 128, from the Bradbury, Wilkinson & Co. archive, scrollwork at left, black printing, payable at Guiness Mahon & Co., London, extremely fine and rare. £400-500

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136 1939 Republic of China Treasury Note, a specimen for £2000 dated London 15th June 1939 and numbered 64, from the Bradbury, Wilkinson & Co. archive, scrollwork at left, green printing, payable at Guiness Mahon & Co., London, extremely fine. £400-500

Internal Loans

138 1925 8% Funding Bonds of the Ministry of Communications, bond for 1000 dollars, no. 2670, ornate border, mauve and red with yellow underprint, with coupons, English translation on the reverse as is usual with Central Government internal loans, extremely fine and rare. £150-200

137 1921 Consolidated 7% Bonds of the Eighth Year National Loan, bond for $1, no. 0105401, ornate border, red, green and black, yellow underprint, text in Chinese with English translation on the reverse, with all coupons, heavy fold between bond and lower coupons otherwise very fine and scarce. £120-150

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bonds and share CertifiCates of the WorLd

139 1936 5% Railway Reconstruction Loan, third series (1938), a specimen bond for 1000 yuan, railway scenes at left and right, bridges at bottom, Sun Yat Sen at top right, green, blue and red, overprinted SPECIMEN in Chinese and numbered 000000 in red, text in Chinese, English on reverse, with coupons, slightly crumpled but good very fine and rare. £200-300 140 1937 4% Liberty Loan, a group of bonds comprising 5 yuan (2), 10 yuan (3, one with Malaya duty stamp), 50 yuan (2) and 100 yuan (2), various colours, with various numbers of coupons, generally very fine to extremely fine. (9) £400-500

141 1938 27th Year 5% Gold Loan, bond for £10 sterling, no. 43058, ornate border, red and black with pink underprint, text in English and Chinese, with coupons, together with similar bonds for $5 and $10, blue and brown respectively, very fine and the sterling issue very rare. (3) £100-120 142 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 lamp, ‘V’ with wings at top, numbered 0000000 in red, green and blue respectively, with coupons, about extremely fine. (2) £100-120

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June 7, 2013 - London 145 Fukien Province, Military Loan, bond for 10 yuan, orange and green, small format, very fine. £80-100

143 1947 36th Year Short-Term Treasury Notes, a group of 3 certificates for $10 and $100, first issue and $10, second issue, the first series with portrait of Chiang Kai Shek at top right, the second series with portrait at top left, the first and last with coupons, various colours, very fine to extremely fine. (3) £100-120

Provincial Loans

146 Hupei Province 24th Year (1935) 6% Loan, bond for 10 yuan, no. 012176, attractive borders with Sun Yat Sen in blue at top right, motor cars travelling along country roads at bottom, green and red, with coupons, very fine. £50-60

144 Chekiang Province, 1936 6% Reconstruction Loan, 2nd issue, bond for 100 yuan, no. 9332, vignettes of agriculture, steam train and bridge over the Chien Tang, mauve, blue and red, with coupons, very fine to extremely fine. £40-50

147 Kwangtung Province, 1921 8% Reorganisation Loan, bond for $10 (local currency), no. 110443, ornate border, red and black, yellow underprint, text in Chinese with English translation on the reverse, with coupons, very fine and scarce. £100-120 47

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Municipal loans

150 Shanghai Municipal Council 6% Loan of 1926, set of 4 debentures for 100 taels (yellow) no. D17786, 500 taels (blue) no. C04489 1000 taels (red) no.

B11998 and 5000 taels (green), no. A02028, overprinted advising of conversion into local currency, Shanghai Council buildings top centre, ornate border, printed by Waterlow & Sons, the 5000 with a few edge tears at left, very fine to extremely fine.

(4) £400-500

148 Shanghai Municipal Council, 1906 4% Gold Loan, a specimen bond for £100, printed by Waterlow & Sons, large format, lilac and yellow, flag vignettes in borders, hole cancellations through coupons, number and signature spaces, extremely fine and very rare. £600-800

149 Shanghai Municipal Council, 6% Loan of 1926, partial set of 3 debentures for 100 taels (yellow) no.

D18191, 500 taels (blue) no. C04564 and 1000 taels (red) no. B11871, Shanghai Council buildings top centre, ornate border, printed by Waterlow & Sons, extremely fine. (3) £200-250

151 Shanghai Municipal Council 5% Loan of 1934, set of 4 debentures for 100 silver dollars (yellow) no.

A00744, $500 (blue) no. B00284 $1000 (red) no.

C01003 and $5000 (green), no. D00316, Shanghai Council buildings top centre, ornate borders, printed

by Waterlow & Sons, filing holes top on $100 and $5000 debentures otherwise generally very fine. (4) £400-500

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155 Shanghai Municipal Council, 5% Loan of 1937, partial set of 3 debentures for $100 (yellow) no.

A01952, $500 (blue) no. B00704 and $1000 (red) no. C01744, Shanghai Council buildings top centre, ornate border, printed by Waterlow & Sons, extremely fine. (3) £220-280

152 Shanghai Municipal Council 5% Loan of 1934, debenture for $5000 (green), no. D00335, overprinted advising of conversion into local currency, Shanghai Council buildings top centre, ornate border, printed by Waterlow & Sons, very fine. £300-400

153 Shanghai Municipal Council, 5.5% Loan of 1936, debenture for $100, no. A01265, Shanghai Council buildings top centre, ornate border, yellow and black, printed by Waterlow & Sons, extremely fine and scarce. £80-100

156 Shanghai Municipal Council 6% Loan of 1940, partial set of 3 debentures for $100 (yellow) no.

A03186, $500 (blue) no. B01104 and $1000 (red) no. C03892, Shanghai Council buildings top centre, ornate border, printed by Waterlow & Sons, extremely fine. (3) £220-280

154 Shanghai Municipal Council, 5.5% Loan of 1936, debenture for $1000, no. C01147, Shanghai Council buildings top centre, ornate border, red and black, printed by Waterlow & Sons, extremely fine and scarce. £100-120

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157 Shanghai Municipal Council 6% Loan of 1941, debenture for $1000, no. C04820, Shanghai Council buildings top centre, ornate border, red and black, printed by Waterlow & Sons, extremely fine and scarce. £100-120

159

158 Shanghai, French Concession (Conseil d’Administration Municipal de la Concession Francaise de Changhai), 1931 Loan, certificate for [3] bonds of 100 taels, no. 1099, black and red on thick cream paper, good very fine and scarce. £80-100

159 City Government of Greater Shanghai, 7% Shanghai Rehabilitation Loan, 1932, bond for $1000 (Shanghai currency), no. D2665, large format piece with ornate borders, brown and black, text all in English with coupons, extremely fine and rare. £500-600

160 City Government of Greater Shanghai, Loan of 1934, bond for 1000 Chinese Silver dollars, large format piece with ornate borders, orange and black, text all in English, with coupons, extremely fine and rare. £500-600

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162

161 British Municipal Council Tientsin, General Purposes Loan, 1932, bond for $500 (Tientsin currency), no. 419, ornate border with coat of arms of the city in centre, brown and black, printed by Waterlow & Sons, with coupons, extremely fine. £300-400

162 British Municipal Council Tientsin, General Purposes Loan, 1932, bond for $1000 (Tientsin currency), no. 193, ornate border with coat of arms of the city in centre, brown and black, printed by Waterlow & Sons, with coupons, extremely fine. £300-400

163 Tientsin, 16th Year (1927) 8% Municipal Short Period Loan of the Special Areas, bond for 10 dollars, no. 953, ornate border, mauve and red with pink underprint, text in Chinese with English on the reverse, with coupons, a few edge nicks at top, very fine and scarce. £300-400

163 51

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Commercial & Industrial Companies

164 Chung Wai Bank Limited, share certificate, circa 1920, no. 223, ornate border, brown with orange underprint, title in medallion at top and in company seal, otherwise all text in Chinese, two heavy folds, about very fine. £200-300

165 Commercial Bank of China, 100 yuan share, 1937, no. 656, ornate border, circular logo flanked by lions, blue with pink underprint, text in Chinese with English in the embossed seal, very fine and scarce. £600-800

166 Deutsch-Asiatische Bank, 1,000 Shanghai taels share, 1900, no. 3875, decorative border, green and beige, red overstamps, old tape repairs at edges, fine. £200-300

167 International Recreation Club, certificate for 25 Ordinary Shares of 25 Yuan each, issued in Shanghai 1934, attractive piece with vignette of clock tower and street scene top, decorative border, blue with text in English and Chinese, some creasing otherwise very fine and rare. £120-150

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168 Jen Chi Hi Insurance Company Ltd., Shanghai, 10 shares for $250 yuan, 1929, no. 1216, ornate border, green on orange underprint, several chops, with coupons, good very fine. £150-200

170 Schantung-Eisenbahn-Gesellschaft, a pair of certificates for 1000 mark share, Berlin 1923, no.

92400, green and yellow, and 100 Reichsmark share, Berlin 1929, no. 00111, brown, green and pink, small format, both without coupons, very fine to extremely fine. (2) £150-180

171 Shanghai and Hongkew Wharf Company Limited, certificate for 5 shares dated 1941, company logo top centre, ornate border, black and blue, capital increased from 4 million taels to 8 million and overprinted in red accordingly, good very fine and rare. £80-120

169 Luen Tsui investment Co. Ltd., Hong Kong, $500 shares, 21st Year of the Republic (1932), ornate border, blue and black, text in Chinese except company name, red ‘chops’ ink cancelled, reglued to counterfoil, very fine. £60-80 Registered in Hong Kong in 1932. Dissolved in 1956.

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172 Hongkong & Shanghai Hotels Ltd., certificate for 100 shares dated 1932, dark and light blue, company logo/crest at top, nominal share value decreased from $10 to $7.50 and overprinted in red accordingly, good, very fine and scarce. £80-100

173 Shanghai Cricket Club, registered 6% debenture no.

002, 1934, cricket pavilion top centre, decorative border, green and red with crossed cricket bats on embossed seal, extremely fine and rare. £100-120 174 Shanghai Electric Construction Company, share certificate dated 1936, London register, no. 490, black printing on blue paper, edge nicks and some creasing, otherwise very fine. £60-80

175 Shanghai Electric Construction Co. Ltd., a set of 3 specimen certificates, from the Bradbury Wilkinson & Co., archive, for 1 share (brown and black), 5 shares (green and black) and 10 shares (blue and black), capital £320,000, electric tram at top left, very ornate borders, numbered 000 with coupons, extremely fine, some hole cancellations. (3) £400-500

176 Shanghai Electric Construction Co. Ltd., a set of 3 specimen certificates, from the Bradbury Wilkinson & Co., archive, for 1 share (brown and black), 5 shares (green and black) and 10 shares (blue and black), capital £320,000, electric tram at top left, very ornate borders, numbered 000 with coupons, extremely fine, some hole cancellations. (3) £400-500

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179 Shanghai Electric Construction Co. Ltd., a set of 3 unissued certificates, for 10 shares (brown and red) no.

A1662, 50 shares (green and red) no. B1159 and 100 shares (blue and red) no. C4294 capital £700,000, electric tram at top left, very ornate borders, with coupons, extremely fine. (3) £200-250

177 Shanghai Electric Construction Co. Ltd., specimen certificate for 10 shares, from the Bradbury, Wilkinson & Co. archive, blue and black, capital £400,000, electric tram at top left, very ornate borders, hand dated 28/9/21 top left, no coupons, extremely fine. £150-180

178 Shanghai Electric Construction Co. Ltd., a pair specimen certificates, from the Bradbury Wilkinson & Co., archive, for 10 shares (brown and red) and 100 shares (blue and red), capital £500,000, electric tram at top left, very ornate borders, numbered A000 and C0000 respectively, with coupons, extremely fine, some hole cancellations. (2) £300-400

180 Shanghai Electric Construction Co. Ltd., a set of 3 specimen certificates, from the Bradbury Wilkinson & Co., archive, for 10 shares (brown and red), 50 shares (green and red) and 100 shares (blue and red), capital £700,000, electric tram at top left, very ornate borders, numbered A000, B000 and C000 respectively with coupons, some hole cancellations and hand wrritten dates and numbers on top border, extremely fine. (3) £400-500

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181 Shanghai Power Company, certificate for ‘not more than 100’ shares of silver preferred stock, 1938, no.

16011, Chinese building in centre with electric tram right, electric pylon left, green and black, text in English and Chinese, together with two temporary certificates for 100 shares, brown and ‘less than 100 shares’, orange, both dated 1930, all about very fine, the first slightly better. (3) £100-120

182 Shanghai Power Company, a registered first mortgage 51⁄ 2 % debenture for ‘not more than Chinese silver $100,000’ [1934], view of Shanghai from the water, ornate border, red and black, red overprint across the vignette tiny nick at left edge, good very fine. £60-80

184 Shanghai Power Company, a specimen first mortgage 51⁄ 2 % debenture for Chinese silver $1000, 1934, view of Shanghai from the water, ornate border, olive green and black, with coupons, numbered 00000 and overprinted specimen in red, tiny nick at left edge, good very fine. £300-400

183 Shanghai Power Company, a specimen first mortgage 51⁄ 2 % nominative debenture for ‘not more than Chinese silver $100,000’ undated but circa 1934, view of Shanghai from the water, ornate border, red and black, numbered 00000 and overprinted specimen in blue, tri-folded, about extremely fine. £100-150

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185 Shanghai Power Company, first mortgage 51⁄ 2 % debenture for Chinese silver $5000, 1934, no. 548, view of Shanghai from the water, ornate border, mauve and black, red overprint at top over the vignette, with coupons, very fine and a rare issued bond. £400-500

186 Shanghai Power Company, a specimen first mortgage 51⁄ 2 % debenture for Chinese silver $5000, 1934, view of Shanghai from the water, ornate border, mauve and black, with coupons, numbered 00000 and overprinted specimen in red, good very fine. £300-400

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190 Shanghai Telephone Company, specimen 6% First Mortgage Registered Debenture dated 1933 and due 1957, brown and black with company logo top centre, ornate border, numbered 00000 and overprinted SPECIMEN in red at bottom, some folds otherwise extremely fine. £300-400

187 Shanghai Power Company, a specimen first mortgage 51⁄ 2 % debenture for Chinese silver $10,000, 1934, view of Shanghai from the water, ornate border, brown and black, with coupons, numbered 00000 and overprinted specimen in red, tiny split at right edge, good very fine. £300-400

188 Shanghai Properties Limited., certficate for 125 “ordinary” shares for 1/- each, 19[37], no. 49, ornate border, black printing, embossed seal, signed by director and secretary, very fine. £80-100

189 Shanghai Telephone Company (Federal Inc. U.S.A.), 31⁄ 2 % cumulative participating preferred stock, 19[47], no. AP00367, ornate border, yellow and black, together with a series A temporary registered debenture, Shanghai 1932, green and black, the first with small tear at top edge, the second with several edge tears, very fine and fine. (2) £80-100

191 Shanghai Telephone Company, set of 5 specimen 6% First Mortgage Debentures for 100, 500, 1000, 5000 and 10,000 silver dollars dated 1933 and due 1957, brown and black with company logo top centre, ornate border, all numbered 00000 and overprinted SPECIMEN in red at bottom, with coupons, good very fine. (5) £1,000-1,500

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196 Shanghai Waterworks Company Ltd., certificate for 33 “C” shares of £1 each, London register, 1946, no. C479, black on blue paper, torn and repaired, fine. £60-80

192 Shanghai Waterworks Company Ltd., certificate for 5 “A” shares of £20 each, registered certificate for 300 shares dated 1939, issued on Shanghai Register, black on white, generally very fine. £60-80

197 Shanghai Waterworks Company Ltd., certificate for 9500 “C” shares of £1 each, London register, 1951, no. C559, black on blue paper, very fine. £60-80

193 Shanghai Waterworks Company Ltd., certificate for 500 “A” shares of £20 each, London register, 1951, no. A2233, black printing, very fine. £60-80

198 Shanghai Waterworks Company Ltd., 6.5% cumulative redeemable preference shares, Shanghai register, 1934, red, some nicks bottom edge otherwise very fine. £60-80

194 Shanghai Waterworks Company Ltd., certificate for 22 “B” shares of £1 each, London register, 1946, no.

B273, black on blue paper, very fine. £60-80

199 Shanghai Waterworks Company Ltd., 6.5% cumulative redeemable preference shares, London register 1947, red, very fine. £60-80

195 Shanghai Waterworks Company Ltd., certificate for 1,900 “B” shares of £1 each, 19[51], no. B320, black printing, attractive embossed seal, signed by secretary and members of the London Committee, good very fine. £60-80 59

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200 Shanghai Waterworks Company Ltd., 7% cumulative redeemable preference shares, London register, 1935, green, very fine. £60-80

201 Shanghai Waterworks Company Ltd., 6% 30 year debenture for 1000 taels dated 1932, no. B546, large format registered certificate, black and blue with green underprint, good very fine. £80-100

202 Sheridan Consolidated Mining & Milling Company Limited, a specimen certificate for 100 tael shares, 189-, printed by Waterlow & Sons, allegorical female at left, ornate scrollwork, black, pale blue underprint, with counterfoil, tiny piece missing from bottom right corner, otherwise very fine. £120-150

203 The Swimming Bath Club, certificate for one share, Shanghai 1929, no. 135, black printing by the Shanghai Mercury, punch holes at top, fine to very fine. £60-80

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Property of H.M. Treasury

204 1898 41⁄ 2 % Gold Loan, a group of bonds issued by the Hongkong & Shanghai Banking Company, comprising £25 (3), £50 (4), £100 (105) and £500 (1), and the Deutsch-Asiatische Bank, comprising £25 (3), £50 (12) and £100 (15), large format, red, orange, brown and mauve respectively, with coupons, in generally better than average condition with some of the £100 bonds almost extremely fine. (143) £4,000-5,000

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OTHER PROPERTIES FOREIGN BONDS 205 A small accumulation of Chinese bonds and shares, comprising 1898 41⁄ 2 % Gold Loan, £25 and £50, German issues; Shanghai Nanking Railway, £100, 1904; 1908 41⁄ 2 % Gold Loan, £20, French issue and £100, English issue; Vickers, £100; Shanghai Hangchow Ningpo Railway, 1936, £100, and others (10), mixed condition but most are very fine or thereabouts. (17) £300-350

206 A useful group of Chinese bonds, comprising 1898 £25 bonds, German issue (5), £100, English issue (5), 1908 Tientsin-Pukow Railway, £20, German issue (6), 1910 Tientsin-Pukow Railway, £100, English issue (2), 1912 Gold Loan, £20 (7) and £100 (2), 1913 Lung Tsing U Hai Railway, £20 bonds (10), 1925 Boxer Loan, $50 (3), and others (2), mixed condition, fine to very fine. (42) £600-800

207

207 Chinese Imperial Railway 5% Gold Loan, 1899, bond for £100, no. 02013, very large format piece with ornate border, text all in English, brown with pale blue underprint, with coupons, creased, fine to very fine with slightlky ragged edges. £120-150

208 Honan Railway 5% Gold Loan, 1905, bond for £100, from the second issue dated 1906, no. 7242, large format, ornate border, black, blue-green and yellow, with coupons, centre fold but extremely fine and rare in this grade. £120-150

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209 “Emprunt Chinois” 5% Gold Loan 1905, unissued bond for 500 francs, large format piece with ornate borders, dragons at top, green and black, beige underprint, with full coupon sheet, centre fold otherwise extremely fine. £300-400 210 Canton Kowloon Railway 5% Loan, 1907, a group of 4 bonds for £100, large format, red and black, printed by Waterlow & Sons, with coupons, very fine but two are split along centre fold. (4) £250-300 211 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B099813, 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

210

212 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B096908, 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. £100-120 213 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B099781, 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

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bonds and share CertifiCates of the WorLd 218 1908 Tientsin-Pukow Railway 5% Loan, a group of 20 bonds for £100, issued by Chinese Central Railways Ltd. large format pieces with ornate borders, orange and black, printed by Waterlow & Sons, with coupons, half are very fine or better, half fine to very fine. (20) £600-800

214 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B077265, 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. £100-120 215 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B033233, 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. £100-120 216 1908 5% Gold Loan, bond for £20 issued by the Banque de L’Indo-Chine in 1909, no. B061319, walled city of Peking at top, green and black, printed

by Waterlow & Sons, no coupons remain as usual, small edge tear at left, good very fine. £80-100

219 1908 5% Tientsin-Pukow Railway Loan, bond for £100, no. 26056, issued by Chinese Central Railways Ltd., overstamped with £50 paid in 1926 at top left, large format, ornate border, orange and black, printed

by Waterlow & Sons, with coupons, centre fold otherwise about extremely fine and scarce in this grade. £120-150

217 1908 5% Tientsin-Pukow Railway Loan, a group of 32 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, mauve and pale blue, 27 with coupons, 5 without, mixed condition, a few with tape repairs but many very fine and better. (32) £300-400

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222 1913 5% Reorganisation Gold Loan, a group of 19 bonds for £20, issued by the Hongkong and Shanghai Banking Corporation, Mercury at top, peasants at left, ancient building at right, orange-brown and black, with coupons, very fine and better. (19) £1,800-2,200

220 1911 5% Hukuang Railways Gold Loan, a group of 3 bonds for £100, issued by the Hongkong and Shanghai Banking Corporation and 3 bonds for £20, issued by the Banque de L’Indo-Chine, large format bonds with steam train at top, red and green respectively, printed by Waterlow & Sons, with coupons, generally very fine or thereabouts. (6) £150-200 221 1912, 5% Gold ‘Crisp’ Loan, a group of 29 bonds for £20, ornate borders, blue and black with yellow underprint, with coupons, mixed condition, fine to very fine. (29) £600-800

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223 1913 5% Reorganisation Gold Loan, a group of 3 bonds for £100, issued by the Hongkong and Shanghai Banking Corporation, Mercury at top, peasants at left, ancient building at right, blue and black, with coupons, very fine and better but one has a small chip from right edge. (3) £1,200-1,500

226 1913 5% Reorganisation Gold Loan, a group of 4 bonds for £20, issued by the Russo-Asiatic Bank Mercury at top, peasants at left, ancient building at right, green and black, with coupons, very fine and better. (4) £400-500

224 1913 5% Reorganisation Gold Loan, two bonds for £100, issued by the Deutsche-Asiatische Bank, Mercury at top, peasants at left, ancient building at right, blue and black, with coupons, one about extremely fine, the other about very fine. (2) £800-1,000 225 1913 5% Reorganisation Gold Loan, bond for £100 isued by the Deutsch-Asiatische Bank, very fine, together with £20 bond issued by Banque de L’IndoChine, some edge repairs, fine, and miscellaneous certificates from Russia, Austria, Cuba and the USA including Central Violeta Sugar Co., 1958/9, 4 examples and Chicago, Milwaukee, St. Paul and Pacific Railroad Co., $1000 bond, 1925, mixed condition, several fine or better. (17) £400-500

227 1918, 8% Treasury ‘Marconi’ Bills, bond for £500, no. 1535, of only 500 issued, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, folds and small split at fold at left otherwise good very fine and scarce thus. £180-220

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228 1919 8% 10-Year Sterling Treasury Notes ‘Vickers Loan’, a bond for £500, no. 9098, dockside vignette, blue and black, with coupons, about very fine. £150-180 228A 1936, 6% Shanghai Hangchow Ningpo Completion Loan, a group of 10 bonds for £50, large format with vignette of Sun Yat Sen in top right corner, medallion of value in top left corner, green, red and blue, with coupons, a good group all in near extremely fine condition. (10) £500-600 230

229 1936, 6% Shanghai Hangchow Ningpo Completion Loan, a group of 10 bonds for £100, large format with vignette of Sun Yat Sen in top right corner, medallion of value in top left corner, brown, green and blue, with coupons, a good group all in near extremely fine condition. (10) £500-600

Internal Loans 230 1936, 6% United Nationalist Loan, a group of bonds of the first series for 100 yuan (2) and 1000 yuan (2), ornate borders, orange and green respectively, Chinese text, red ‘chops’, with coupons, fine to very fine. (4) £80-100

231 1936, 6% United Nationalist Loan, a group of bonds of the third series for 100 yuan (34) and 1000 yuan (2), ornate borders, green and mauve respectively, Chinese text, red ‘chops’, with coupons, fine to very fine. (36) £500-600

231

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232 1936, 6% United Nationalist Loan, a group of bonds of the 5th series for 100 yuan (6) and 1000 yuan (1), ornate borders, green and orange respectively, Chinese text, red ‘chops’, with coupons, fine to very fine. (7) £150-180 233 1937, 4% Liberty Loan, a group of bonds for 5 yuan (5), 10 yuan (9), 50 yuan (2) and 100 yuan, ornate borders, text in Chinese with English on the reverse, various colours, with coupons, generally very fine and better. (17) £400-500

234 29th Year Reconstruction Gold Loan, 1940, a group of 40 bonds for US$5, attractive design with steam trains, bridge and mining tools within borders, blue and red, with coupons, Chinese text with English translation on the reverse, generally extremely fine.

(40) £300-400

235 1942, Allied Victory U.S.Dollar Loan, a group of 50 bonds for $20 each, small format with steamship at left, steam train at right, blue, text in English and Chinese, with coupons, generally very fine and better.

(50) £300-400

Commercial & Industrial Companies

236 Bank of Hindustan, China & Japan Ltd., one share of £100, 18[63], no. 9511, coat of arms in centre, black, attractive embossed seal, perforated with part repayment, very fine. £120-150

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237 Bank of Hindustan, China & Japan, Ltd., New Shares, one share of £100, 18[64], no. 17953, coat of arms in centre, black on mauve paper, attractive embossed seal, perforated with part repayment, almost extremely fine. £120-150

240 Jee Yee Pier Warehouse Co. Ltd., Shanghai, 100 yuan shares, 1924, ornate border, green and black with yellow underprint, text all in Chinese, adhesive revenue stamp at top, good very fine. £100-120

238 Banque Industrielle de Chine, a group of 10 certificates for 500 francs share, third issue, 1920, cityscape at bottom flanked by Chinese dogs, architectural border with dragons at top, yellow and black, with full coupon sheets, generally extremely fine and better. (10) £100-120

241 Oriental Bank Corporation, a group of certificates for 1 share of £25 (5), various dates 1851 to 1865, coat of arms at top, scrollwork at left, black printing, very fine and better. (5) £400-600

239 Hankow Dispensary Ltd., 10 Hankow dollar shares, 192[9], number 188, ornate border, brown, about very fine. £100-120

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MANCHURIA

242 Société Franco-Chinoise de Crédit S.A., founders share, 1911, no. 0973, ornate border, red with yellow underprint, Chinese characters in each corner, with coupons, extremely fine. £60-80

x244 Imperial Manchu Government, 4% Public Loan, a group of 4 bonds for 100 yen, Keitoku 6 (1939), numbers 6127, 6129, 6130 and 6131, ornate border with dragons at left and right, red and black, with coupons, very fine. (4) £80-100

243 Société Franco-Chinoise de Crédit S.A., founders share, 1911, no. 0972, ornate border, red with yellow underprint, Chinese characters in each corner, with coupons, extremely fine. £60-80

x245 South Manchuria Railway Co. Ltd., 1000 shares of 50 yen, Showa 8 (1933), no. 109, vignette of steam train at top, brown and black, extremely fine and a rare high denomination. £120-150 WWW.spinK.Com

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x246 South Manchuria Railway Co. Ltd., a group of certificates comprising 10 shares, Showa 8 (1933), steam train at top; 5 shares and 10 shares, Showa 15 (1940), streamlined steam train at bottom, coupon bonds for 100 yen, Showa 13 (1938) and 1000 yen, Showa 19 (1943), both with underprint of steam engine, blue and green respectively, very fine and better. (5) £100-150

x248 Manchou-Mongolia Wool Co. Ltd., 50 shares of 50 yen, Keitoku 11 (1944), Mongolian tent with sheep grazing outside, floral border, brown, very fine. £50-60

x247 A group of Manchurian companies, (4), comprising Central bank of Manchuria, 1000 yen, Daido 1 (1932), dragons at top, red and black; Manchou Heavy Industries Development Co. Ltd., 10 shares of 50 yen, Keitoku 5 (1938), slate blue; South Manchuria Sugar Manufacturing Co. Ltd., 10 shares of 50 yen, Taisho 5 (1916), ornate border, text in English and Japanese, and, Manchou Electric Industry Co. Ltd., 10 shares of 50 yen, Keitoku 5 (1938), ornate border, grey and black, generally very fine to extremely fine. (4) £80-100 x249 Manchuria Telephone & Telegraph Co. Ltd., a pair of certificates for 1 share and 10 shares of 50 yen, Showa 8 (1933), mountain range with telegraph poles, ornate borders, orange and green respectively, together with a later issue certificate for 5 shares, Showa 15 (1940), building at bottom red and black, first two with vertical centre fold, very fine, the last extremely fine. (3) £80-100

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FRENCH INDO-CHINA

250 Dragons: A pair of certificates comprising Société Fonciere Saigonnaise, 100 franc share, Saigon 1929, vignette of the City with dragons at either side creating an attractive border, yellwo and blue, with coupons, together with Société des Rizeries Parisiennes, 100 franc share, Paris 1917, factory at top, large dragons at either side, green and blue, with coupons, very fine and better. (2) £60-80

251 United East India Company, East India Stock, inscribed stock certificate, 181[21], for £1000 stock at 225%, usual format, black on pale grey paper, top left corner missing from usual spiking, good very fine. £80-100

INDIA

252 East India Company, a pair of bills of exchange both relating to the 6% Bengal Loan, the first 1818 of larger size with coat of arms at top, addressed to the Company in London, the second smaller with scrollwork at left, dated 1819, also addressed to London, both black printing, very fine and scarce. (2) £100-120

250A East India Company (United Company of Merchants Trading to the East Indies), a printed power of attorney dated 1801 for a quantity of East India Stock, folio format, black printing, 4 pages, on watermarked paper, together with a related handwritten letter from bankers Child & Co in London, slight splits at folds, very fine. (2) £200-300

253 East India Company, an interesting group of documents being file copies of a Treasury note for 15,000 sicca rupees, 1823, a 6% promissory note dated 1822, a 5% promissory note, 1823, a letter dated 1823 regarding a loan to the Company, and, a copy of the Bombay Courier 5th March 1823, very fine and an interesting lot. (5) £80-100

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x257 Bank of Hindustan Ltd., 100 rupee shares, 193[3], no. 1504, attractive piece with underprint map of India, scrollwork at left, brown, green seal, together with Travancore National & Quilon Bank Ltd., 50 rupee shares, 193[7], no. 3143, brown and orangebrown with elephants at top centre, both with splits at folds, fine to very fine and both rare. (2) £80-100

254 United East India Company, 4% Loan, 1832-3, certificate for [10,000] Sicca rupees, Bombay 1832, ornate scrollwork border, red and black, heavy folds and some staining, very good but rare. £80-100 x255 A good group of Commercial and Industrial companies, comprising Tata Power Co. Ltd., 192[0]; Morris Transport Service Ltd., 1942; Kanknarrah Co Ltd., [1903]; Ivan Jones Ltd., 19[39]; McLeod and Co. Ltd., 19[47]; Osler Electric Lamp Manufacturing Co. Ltd., 19[47]; Travancore Cables and Rubbers Ltd., 19[41]; Great Eastern Hotel Ltd., 19[15]; Jaipur Metal & electricals Ltd., [1944]; Nischintapur Tea Co. Ltd., 195[2], and others (7), fine to very fine and several scarce. (17) £120-150

258 Gwalior Civil and Military Stores Co. Ltd., a pair of certificates for 1 share of 1000 rupees, 19[21], numbers 188 and 189, of only 200 issued, vignette of Maharaja Madho Rao Scindia top centre, black, adhesive Gwalior revenue stamp, endorsement on the reverse which just shows through to the front, very fine. (2) £60-80

x256 An interesting group of Mill companies comprising, Azam Jahi Mills Ltd., Hyderabad, 19[32], attractive underprint of mill; Osmanshahi Mills Ltd., 19[24]; Birla Jute Manufacturing Co. Ltd., 19[54]; Western Jute Baling Co. Ltd., 19[49], and others (5), generally very fine, together with a group of 5 certificates for Investors Land Company Ltd., 1917, one is trimmed, the others with date omitted in error, very fine. (15) £80-100 73

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x259 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; together with a group of 5 certificates of Kalyanmal Mills Ltd., preference shares, 192[2], mill building at top left, green and blue, generally about extremely fine. (15) £80-100

x260 Rajputana Talkies Ltd., Jaipur, a group of 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. (5) £80-100

JAPAN

261 Imperial Japanese Government 4% Loan, 1910, bond for 2500 francs, series 3 no. 631555, Mount Fuji at top, ornate border, red and black, printed by Waterlow & Sons, with new sheet of coupons attached at right, cut close at right edge where old coupons removed, very fine. £300-400

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262 Imperial Japanese Government 4% Loan, 1910, bond for 5000 francs, series 4 no. 662369, Mount Fuji at top, ornate border, blue and black, printed by Waterlow & Sons, with new sheet of coupons attached at right, cut close at right edge where old coupons removed, very fine and rare top denomination. £400-500

263 Imperial Japanese Government, 61⁄ 2 % External Loan, 1924, a specimen bond for $500, Mount Fuji top centre, ornate border, orange and black, printed by the American Bank Note Co., numbered 00000 and overprinted SPECIMEN in red, with coupons, folds but good very fine. £200-250

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264 Imperial Japanese Government, 51⁄ 2 % External Loan, 1930, a specimen bond for $1000, Mount Fuji top centre, ornate border, blue and black, printed by the American Bank Note Co., numbered 00000 and overprinted SPECIMEN in red, with coupons, folds but good very fine. £200-250

x265 Japanese Governement, 3.5% Special Treasury Loan, Showa 20 (1945), bond for 100 yen, no.

61320 (the plate bond from World War II Remembered), Mount Fuji at right, Diet building in underprint, blue and black, with coupons, good very fine and a very scarce late issue. £60-80 x266 A group of 21 Japanese specimen share warrants, 1970’s and 1980’s, all denominated in German marks, names include Tokyo Electric Power Co., Sharp Corporation, Fuji International Finance, etc., mostly with small hole cancels, various colours, generally extremely fine and better. (21) £60-80

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MALAYSIA

MIDDLE EAST

x267 Tronoh Extended Ltd., $1 shares, Penang 191[5], no. 170, dark blue printing by the Penang Gazette Press, adhesive Straits Settlements plus red impressed Penang duty stamps, some edge chipping otherwise very fine and all Penang registered companies are rare. £60-80

OTTOMAN EMPIRE 269 A small but interesting collection of Ottoman bonds and share certificates, comprising Chirketi Hairiei - Hamidie Steamship Company, T£5 share, 1906, ornate border, text in English and Arabic; Compagnie Generale d’Omnibus et d’Autobus de Constantinople, £T5 share, 1910; Anglo-Ottoman Tobacco Co. Ltd., certificates for 1 ordinary and 1 preference share, both 1913; Societe des Quais, Docks & Entrepots de Constantinople, 4% bond, 1906; Societe du Chemin de Fer Ottoman d’Anatolie, one share, 1894, trimmed; 1911 4% Loan for the SomaPanderma Railway, bond for £T22; Government Loans, 4% 1902, £20, 4% 1906, £20 and £100 bonds, 1901-1905 4% Loan, £20, 4% 1908, £20, and other certificates (2), generally very fine. (14) £200-250

268 Sarawak: Kim Loong Gold Mining Syndicate, Jambusan, Bau, Upper Sarawak, 50 dollar share, 19[34], no. 468, small format piece with mauve border, green underprint, black and red text in English and Chinese, adhesive Rajah Brooke revenue stamp, printed in Kuching, extremely fine and rare. £140-160

270 Imperial Ottoman Government 4% Loan, 1905, bond for 500 francs, £20, no. 50431, very large format piece with ornate border, mauve and pink, text in Arabic, German, French and English, with coupons, very fine. £60-80

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Property of H.M. Treasury

271 Baghdad Railway: Kaiserlich Ottomanische Gesellschaft der Bagdadbahn, a very large group of certificates for shares of 500 francs/ ÂŁ20/ or 408 Reichsmark, Constantinople 1903, attractive printing in green and black, text in German and Arabic with English and French on the reverse, with coupons, generally uncirculated. (approx 4500) ÂŁ8,000-10,000

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272 Droguerie Centrale D’Orient, certificate for 5 founders shares, Constantinople 1925, no. 1851-55, large format piece with ornate borders, poppies at left and right, green and black, text in French and Arabic, with coupons, good very fine. £60-80

274 Ottoman Railway from Smyrna to Aidin, 6% Cumulative Preference Share of £20, 1905, no. 5948, ornate guilloche border, steam train vignette at top centre, crescent moon and star underprint at bottom centre, red and black, yellow underprint, printed by Waterlow & Sons, good very fine. £150-180

275 Ottoman Railway from Smyrna to Aidin, 6% Cumulative Preference Share of £20, 1905, no. 5936, ornate guilloche border, steam train vignette at top centre, crescent moon and star underprint at bottom centre, red and black, yellow underprint, printed by Waterlow & Sons, damp toned especially at right, very fine. £100-150

276 Ottoman Railway from Smyrna to Aidin, 6% Cumulative Preference Share of £20, 1905, no. 5938, ornate guilloche border, steam train vignette at top centre, crescent moon and star underprint at bottom centre, red and black, yellow underprint, printed by Waterlow & Sons, together with Russia, Trading Company Muir & Mirrielees Ltd., 1000 rouble share, 1908, green and black, with coupons, the first damp toned with rust mark at top centre, about very fine, the last about very fine with a couple of surface marks. (2) £100-150

273 Ottoman Railway from Smyrna to Aidin, 6% Cumulative Preference Share of £20, 1905, no. 5932, ornate guilloche border, steam train vignette at top centre, crescent moon and star underprint at bottom centre, red and black, yellow underprint, printed by Waterlow & Sons, good very fine. £150-180

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PALESTINE x277 Certificates from the Middle East (3), comprising Jewish Colonial Trust Ltd., one share, 1[903], 4 vignettes in each corner, tear at top edge; Government of Morocco, 4% Loan, 1914, bond for 500 francs, large format piece with vignettes around border of ancient buildings, and, Soc. Egyptienne de Ciment Portland Tourah-Le Caire, 10 shares, 1927, very pretty piece with Egyptian motifs and winged bird at top, multicoloured, generally very fine. (3) £80-100

x278A Palestine Hotels Ltd., a group of certificates for 25 shares of £1, 19[30], 17 examples, and 100 shares of £1, 19[34], ornate borders, text in Arabic, English and Hebrew, blue and mauve respectively, with coupons, mixed condition but most are very fine, a few better.

(18) £300-400

278 Palestine Electric Corporation Ltd., a specimen 41⁄ 2 % cumulative preference stock certificate from the Bradbury, Wilkinson & Co. archive, 19- (circa 1945), large format piece with ornate border, blue and black, text in Arabic, English and Hebrew, overprinted SPECIMEN in red in centre, about extremely fine. £60-80

279 Two unusual Palestine certificates, comprising Chavurath Sofrim Yachdav Co. Ltd., £P1 shares, 19[34], no. 10, of only 980 shares issued, black on decorative blue paper, text in Hebrew and English, together with Standard Bank of Palestine Ltd., deposit certificate (bond) for £P5, 1941, ornate border, brown with yellow underprint, text in Hebrew and English, with coupons, the first with punch holes, very fine. (2) £80-100

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EUROPE BELGIUM 280 Cintra Wine Co à Gand, S.A., 100 franc share, no.

1314, 1898, pretty piece with vignettes of vines, barrel, coat of arms, harbour and mountain view etc., blue and black, with coupons, about extremely fine. £60-80 Cintra (or Sintra) is a small town in the beautiful mountainous region west of Lisbon made famous by Lord Byron whilst on his travels.

282 S.A. du Vesuve a Paris (S.A. Le Transvaal, L’Afrique Sauvage et le Vesuve), 25 shares of 25 francs, Brussels 1900, no. 22751-75, photographic vignette of the errupting Mount Vesuvius, ornate border, red and grey, with coupons, good very fine. £100-120 See also lot 311.

x281 Société Royale de Zoologie d’Horticulture et d’Acrement de Bruxelles, nominative certificate for 1 share, [1859], no. 2420, classic design with stone archway with various animals including a tiger, snake and crocodile, black, yellow underprint, slight foxing, very fine. £120-150 The zoo was founded in 1851. Shares exchanged for City of Brussels bonds in 1878.

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BULGARIA

283 Peoples Bank of Sofia, one share of 50 gold leva, 19[15], no. 6237, large format, very colourful piece with allegorical figures, heavy scrollwork borders, gold, red and various shades of green and blue, nearly extremely fine. £150-200

284 S.A. Fabrique de Tabac “Horizont”, 500 leva share, 1921, no. 001203, attractive piece with female at top, tobacco field at bottom, art nouveau borders, brown, green and red, with coupons, about extremely fine. £80-100

CZECHOSLOVAKIA

285 Czechoslovakia: “Ferrovia” Bahnbedarfs- Und Feldbahnwerke, 200 kronen share, Pargue 1922, no.

246, steam train at top with goods wagons, coal and iron mine at bottom, green, with coupons, together with an unissued Universal Credit Society certificate for 100 kronen, 192-, extremely fine. (2) £60-80

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FRANCE 286 A group of French certificates, with heavy duplication, some operating overseas, many with vignettes, most with coupons, mixed condition but many are very fine and extremely fine. (131) £120-150 x287 A group of attractive French certificates, comprising Soc. Bretonne de Filature et Teinturerie de Laines, 500 francs, Quimper 1920; Groupement National de la Baie du Mont-Saint-Michel, 100 francs, Paris 1926; L’Hippodrome, ‘part benefiiciaire’, 1898; Etablissement Thermal de Forges-Les-Eaux, 100 francs, 1921, and, Compagnie Electrique des Tramways de la Rive Gauche de Paris, 100 francs, 1899, all are very attractive and well known issues with vignettes relating to their businesses, all are extremely fine. (5) £150-200

289

288 Anciens Chantiers Tellier pour la Construction de Monoplans, 100 franc share, Saint Omer 1912, no.

4087, underprint vignette of the Paris skyline with monoplane flying above, ornate scrollwork border, with coupons, extremely fine. £60-80

290 Anglo-French Company for the Manufacture of Artificial Sperm Oil (Fullers, Desgrand & Co.), bearer certificates for 1 share and 5 shares of 100 francs, no. 71 and 5801-5, 1857, very attractive pieces with vignettes around border of steamship, steamtrain, factory, allegorical figures, scrollwork and coats of arms, text in English and French, black with olive green underprint, and black with yellow underprint, with coupons, slight damage at right edges, not affecting the design, otherwise extremely fine. (2) £150-200

289 Anglo-French Company for the Manufacture of Artificial Sperm Oil (Fullers, Desgrand & Co.), bearer certificate for 1 share of 100 francs, no. 88, 1857, very attractive piece with vignettes around border of steamship, steamtrain, factory, allegorical figures, scrollwork and coats of arms, text in English and French, black with olive green underprint, with coupons, small tear at right extending 1⁄ 2 inch into the design, good very fine. £120-150

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291 Association Phonique des Grandes Artistes, 100 franc share, Paris 1906, no. 5812 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, repaired tears at top edge, very fine. £350-400

292 Compagnie des Eaux de Nimes, 100 franc bond, 1869, no. 14850, very attractive piece with vignettes of some of the city’s Roman building such as the Pont du Gard, Maison Carrée and the Second century amphitheatre, water fountan bottom centre, black with pink underprint, with coupons, good very fine. £120-150

293 Compagnie Internationale Phonique, 100 franc share, Paris 1907, no. 6114, beautiful Art Nouveau certificate designed by Paul Poncet with large vignettes of allegorical females, one reading from a book, the other playing a lyre, a phonograph and records at bottom, another in centre, theatrical masks at top, green, with coupons, couple of tiny repaired edge tears, very fine to extremely fine. £100-140

294 Compagnie Parisienne des Voitures Electriques (Procédés Kriéger), part bénéficiaire, Paris 1900, no.

945, lovely Art Nouveau design with four of the company’s vehicles at left, brown and yellow, with coupons; together with 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, good very fine to extremely fine. (2) £80-100

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295 Compagnie Urbaine de Vidanges et Engrais, 500 franc share, Paris 1879, no. 3296, horse and plough at top, wheat sheaves, cherubs and wheelbarrow, black with grey underprint, with coupons, good very fine. £100-120 x297 Etablissements Léon Volterra et Théâtre Marigny, 100 franc share, Paris 1927, no. 78331, lovely design of dancer, musicians and actor, blue and yellow, stamped endorsement of reduction of capital, with coupons, extremely fine. £60-80

296 Etablissements Firmin-Didot et Cie, 6500 franc share, Oaris [1875], no. 546, of only 740 issued, attractive gold and blue printing with beige underprint, of lovely quality, presumably by the company itself, good very fine and rare. £140-180

298 Etablissements Marot-Gardon Motorcycles, Voitures Automobiles, 500 franc share, Pari [1900], no. 416, of only 1200 issued, ornate border, black with grey underprint, with coupons, good very fine. £60-80

Printers, bookbinders and paper makers in Paris.

Early French motor car manufacturer, best known for their motor tricycles and quads, made at Corbie since 1898. Voiturettes were announced in 1899 and further models until 1902 when the company ceased manufacture.

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300

299 La Société Generale des Assurances Agricoles et Industrielles, 100 franc share, Paris 1899, no. 53635, attractive piece with very ornate border of farmyard animals, windmill, ploughman, seed sowing and allegorical female, green with pink underprint, with coupons, good very fine. £100-120

301 Parfumerie Ramsès S.A., 100 franc share, Paris 1919, no. 16295, ancient Egyptian figure holds perfume bottle, pyramid and sphinx in underprint, green and yellow, with coupons, extremely fine. £60-80

300 Le Moteur Laviator, 100 franc share, Paris 1911, no.

2717, vignettes in each corner of aero engines, monoplane and biplane, brown with yellow underprint, with coupons, good very fine. £60-80

302 Pecheries et Chasses des Etangs de Vielles et Gonrieux, 200 franc share, Paris 1879, no. 867, of only 1000 issued, small paddle steamer at top, hanging game at left and right, scrollwork at bottom, black, green underprint, with coupons, edge repair at right and margins lightly trimmed, very fine. £80-100 WWW.spinK.Com

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305 Societe Generale des Cinematographes Eclipse, 100 franc share, 19[06], very attractive piece with vignettes of London’s Tower Bridge, Notre Dam, Colonial Views, Cleopatra’s Needle and Sphinx, blue, with coupons, together with “Fenris” Films Ltd., 5 shares of £1, 190[7], ornate border with Fox and ball of light at bottom, blue, with coupons, very fine and better. (2) £60-80

303 Service General des Messageries du Commerce ...

Armand, Le Comte & Cie, 1000 franc share, Paris [1830], no. 15, ornate and intricate border with horse drawn coach at bottom and horse and rider at top, black, good very fine and scarce. £100-120

306 Société Anonyme de Gymnastique Médicale Mécanique (Systéme du Docteur Zander), 500 franc share, 1880, no. 414, fascinating piece with vignettes around border of various exercise contraptions, black with pink underprint, with coupons, extremely fine. £60-80 304 S.A. Andre Citroen, one tenth preference share, 1937, classic Citroen badge comprising 2 chevrons within an oval at top, ornate border, red and black, together with a preference share, 1917, with facsimile signature of Andre Citroen as President, art deco design of chevrons and motor car silhouettes, blue, with coupons, very fine and better. (2) £80-100 87

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x308 S.A. des Eaux Minérales Naturelles de VichyCusset, 100 franc share, Paris 191[0], no. 1426, beatiful art Nouveau piece with classically dressed females gathering water from the stream, Park at top, town view at bottom, blue-green, with coupons, extremely fine. £80-100

307 S.A. “La Darne” Filteries, Blanchisseries, Teintureries a Coubon (Haute-Loire), 500 franc share, Le Puy 19[09], no. 244, attractive piece with topless females within wreath in centre, ornate border, blue and buff, with coupons, very fine. £60-80 309 S.A. de L’Eden-Theatre, 500 franc share, Paris 1881, no. 3292, theatre building at top, cherubs at left and right and scrollwork border, green and black, with coupons, extremely fine. £60-80

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310 S.A. du Home Decor, 100 franc nominative share, Paris 189[8], no. 2623, lovely Art Nouveau design signed by the artist Francisco Tamagno, female with paint palette, floral border, blue, with coupons, slightly ragged right edge, very fine. £200-300

312 S.A. des Thermes D’Enghien, mortgage bond for 500 francs, Paris 187[0], no. 3279, attractive piece with vignettes of buildings around border, red and black with pale blue underprint, wth coupons, very fine and scarce. £120-150 The waters of Enghien were discovered in 1766 and became fashionable after Louis XVIII’s visit in 1823 for the cure of a leg ulcer. Their popularity peaked when some of the springs were declared of public interest in 1865 and when Princess Mathilde, cousin of Napoleon III, moved to the nearby town of Saint-Gratien in the same period. The springs have again been developed and used for the healing of many ear, nose and throat disorders and for respiratory diseases.

311 Belgium Societe du Nouveau Cirque, 100 franc share, Gand 1894, no. 0729, allegories of artist and musician at left and right, arms flanked by cherubs at top, blue-green and yellow, with coupons, very fine. £80-100 89

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GERMANY 313 A large collection of all different German bonds and share certificates from the ‘Reichsbank’ hoard (approx. 1000), all dated prior to 1939 with many in the 1920’s and 30’s, includes many International Government loans and dollar bonds, a large number of mortgage bonds and a few share certificates of various companies, a handful of which are scarce, all with official single hole cancellation, mostly extremely fine. (approx. 1000) £1,000-1,500

A Good Offering of Uncancelled German Dollar Bonds

315 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine. (10) £1,000-1,500 316 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, extremely fine. (10) £1,000-1,500 317 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, good very fine. (10) £1,000-1,500 318 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine. (10) £1,000-1,500 319 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine. (10) £1,000-1,500 320 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine. (10) £1,000-1,500

314 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, extremely fine and UNCANCELLED. (10) £1,000-1,500

321 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 10 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine and uncancelled. (10) £1,000-1,500

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June 7, 2013 - London 322 German Government International 51⁄ 2 % ‘Young’ Loan, 1930, a group of 50 bonds for US$1000, allegorical female at top, ornate border, mauve and black, text in English, German and French, with coupons from June 1945, almost extremely fine and uncancelled. (50) £5,000-7,000

x324 Benz & Cie. Rheinische Automobil- Und Motoren-Fabrik AG, a group of 6 teilschuldverschreibung (partial debentures) for 1000 marks, Mannheim 1920, no’s 166, 167, 168, 169, 170 and 171, large format pieces with ornate border, underprint of open touring motor car, brown and black, with coupons, generally very fine to about extremely fine. (6) £1,200-1,400

323 Free State of Saxony, 6% Sterling Loan, 1927, bond for £20, no. A1162, large format with standing female holding ears of corn, orange and black, printed

by Bradbury, Wilkinson & Co., together with China, Lung Tsing U Hai Railway, 1913, unissued reserve stock bond for £20, both about extremely fine. (2) £60-80

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GREECE

x325 Norddeutsche Union Werke, Hamburg, 1000 mark share, Hamburg 1922, no. 50712, very attractive design with early sailing ships at top, modern shipyard at bottom, multicoloured, with coupons; together with other German certificates (9) including Fried.

Krupp AG, 5% bond for 2000 marks, 1921, couple of small tears otherwise good very fine. (10) £120-150

326 A small group of Greek bonds, comprising 7% Refugee Loan of 1924, two £100 bonds, one with original coupons and one with attached certificate of acceptance of 1965 restructuring, large format, refugees at top, green and black, together with 6% Stabilisation and Refugee Loan of 1928, two £100 bonds, both with original coupons from 1941, large format, allegorical figure at top, green and black, all printed by Bradbury, Wilkinson & Co., very fine to extremely fine. (4) £80-100

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327 Greek Republic, Government Railway 8% Gold Loan, 10 bonds of $100, 1st series and 10 bonds for $100, 2nd series, both October 1925, steam train at top, ornate border, red with yellow underprint and black with blue underprint, text in English and French, with coupons, the second with edge splits, very fine and better. (2) £80-100

328 National Mortgage Bank of Greece, 7% mortgage Loan, bond for £100, no. 15910, together with £100 bond with £50 paid, no. 14396, large format pieces with classical figure top centre, ornate border, green and black, the first has original coupons, stamped with reduced rate of interest, from 1941, the second has replacement coupons from 1973, good very fine or better and an interesting pair. (2) £60-80

328

329 M & H. Klonaridis Ltd., a bearer certificate for 20 shares of £1, London 1909[1911], no. 5262, a large format piece with attractive vignette of the Athens Brewery top centre, brown, text in English and Greek, with coupons, good very fine and first time seen by the cataloguer. £80-100

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HUNGARY

331 Hofherr-Schrantz, Ungarische MaschinenfabriksWerke AG, 200 kronen share, Kispest 1908, no.

20099, very attractive piece with steam traction engine at work baling hay, factories at lower left and right, black, grey underprint, with coupons, red print with new company title to incorporate the English manufacturer Clayton and Shuttleworth, good very fine. £80-100

ITALY

330 Counties of Hungary 6% Sterling Loan, 1927, a pair of specimen bonds for £100 and £500 from the Bradbury, Wilkinson & Co. archive, panoramic view over countryside from the walls of castle, ornate border of shields of the various municipalities, green and blue respectively, with coupons, extremely fine. (2) £80-100

332 DVCROT Mobili e Arti Decorative, 25 shares of 100 lire, Milan 1926, no. 1472, very attractive piece with nude figures joining two pieces of wood and chiseling designs, signed by the artist Duilio Cambellotti who was himself a furniture designer, black, with coupons, edges appear to be slightly trimmed otherwise good very fine and scarce. £180-200

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PORTUGAL

333 A Equitativa de Portugal e Ultramar Companhia de Seguros, 50 escudo share, Lisbon 1918[9], no.

5681, allegorical female with cornucopia flanked by globes, ornate border, 4 pages, extremely fine. £60-80

334

334 Cia de Caminho de Ferro de Torres Novas a Alcanena, one share of 50$000 reis, Lisbon 1888, large format piece with vignette of steam locomotive at top, brown, 4 pages, extremely fine. £80-100

335 Companhia de Fiacao e Tecidos de Cuimaraes, one share of 100 escudos, increased by overprint to 200 escudos, 1924, no. 20374, very attractive piece with huge vignette of the textile factories, ornate border, olive green, 4 pages, good very fine. £60-80

335 95

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336 Companhia do Luabo, 5 shares of 4.5 reis with the equivalent in francs and pounds sterling, Lisbon 1910, no. 8621-5, lovely piece with herd of elephants at bottom, natives at work at sides and river scenes at top, blue with buff underprint, with coupons, almost extremely fine. ÂŁ80-100

337 Companhia de Mineracao Plombifera de Adorigo, 50 reis share, Porto 1880, no. 1361, large format piece with coat of arms at top with mining tools behind, ornate border, 4 pages, black, pink underprint, adhesive revenue stamp, almost extremely fine. ÂŁ60-80

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338 Companhia Nacional de Viacao E Electricidade, 25 escudo share, 191[20], no. 50240, very attractive piece with allegorical figures with industrial scene in background including electric tram, waterfall and factories, blue-grey and brown, about extremely fine. ÂŁ120-150

339 Companhia de Seguros Iris, 25 escudo share, Lisbon 1923, no. 00735, beautiful certificate with full height allegorical female holding shield emblazoned IRIS, box of valuables and dog at her feet, black, gold and red with pink underprint, 4 pages, about extremely fine and rare. ÂŁ150-200

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340 Companhia Geral das Pescarias Reaes do Reino do Algarve, 100 mil reis share, 1780, black printing on 4 pages, numerous endorsements on the inner sheets to 1819, attractive paper seal, very fine to extremely fine and rare. £2,000-2,500 Company created by the Marquis de Pombal by Royal Charter in January 15th 1773, and was granted privileges and guarantees such as the monopoly on the exploitation of fisheries around the Algarve. The Company’s concessions were renewed annually until 1836 when they were cancelled.

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341 Companhia Portugueza de Preparacao de Carnes, 5 shares of 500 escudos, Lisbon 1921, no. 15631-5, classical architectural borders, red, brown and black, with coupons, good very fine. £60-80

343 Lisbon Electric Tramways Ltd., a bearer certificate for 10 ordinary shares of £1, London 19[28], no.

C6283, large format piece with vignettes of allegorical figures with tramway scenes in background, yellow brown and black, text in English and French, printed

by Waterlow & Sons, with coupons, small hole cancel over signatures, tiny chip from left border, very fine. £60-80 344 Two Portuguese Colonial pieces comprising, Companhia de Timor, 1 share of 4500 reis, Lisbon 1912, attractive vignette of natives at work packing crops, tapping rubber, loading wagons etc., green, together with Companhia de Cabinda, 100 escudo share, Lisbon 19[46], stylised natives at work with leaf border, brown, good very fine to extremely fine. (2) £60-80

ROUMANIA 345 Baicoi Petroleum Ltd., a group of 3 slightly different certificates for £1 shares, 19[14], no. 180, 19[16], no.

244 and 19[30], no. 303, ornate border, black, all with minor printing varieties, fine to good very fine. (3) £60-80

342 Compahnia Real Promotora da Agricultura Portugueza, founders share, Lisbon 188[7], no. 151, large format piece with huge vignette of steam traction engines and plough, farmer cutting wheat and farmer sowing seed, black, good very fine. £80-100 99

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SERBIA

SPAIN

x346 A small group of Serbian certificates comprising, Homolje Investment Bank, certificates for 1 share and 10 shares of 100 dinara, 1928, very pretty multicoloured designs with vignettes in each corner; Pec Merchant-Industrial Bank, 10 shares of 250 dinara, 1924, panoramic vignette of the town, multicoloured, and, Ohrid Joint Stock Fishing Company, 750 dinara share, 1924, fish left and right, fishing boat at bottom and factory at top, all with coupons, good very fine to extremely fine and a colourful lot. (4) £100-120

348 Provincial Government of Valencia, 5% Loan, 1929, bond for 500 pesetas, no. 23832, large format with city view at bottom, ornate border with coat of arms at top, blue and pink, with coupons, about extremely fine. £60-80 347 Strojne Tovarne in Livarne D.D., 400 kroner share, Ljubljana 1919, no. 1302, attractive border with stylised metal workers pouring and beating, smoke from factories along the bottom create the border, green and red, with coupons, about extremely fine. £80-100

349 Azucarera Alavesa S.A., 500 peseta share, Vitoria 1900, no. 2050, attractive piece with vignette of factory, worker with horse-drawn plough, green and red, with coupons, some tone spots but good very fine. £60-80

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350 Comercial Transatlantica S.A., 500 peseta share, Barcelona 19[19], no. 0137, arms of Aragon and Argentina, ornate border, green and black, with coupons, about extremely fine. ÂŁ60-80

351 Compania Madrilena de Urbanizacion, 500 peseta share, Madrid 190[7], no. 1359, signed by Arturo Soria, founder and director of the company, intricate border of fine scrollwork, red, yellow and black, with coupons, extremely fine. ÂŁ60-80 The company built and operated both steam and electric tramway lines.

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352 Compania Real de Toledo, one share of 3000 realles de vellon, [1748], no. 717, classic Spanish piece with heavy scrollwork border with religious figures at top, numerous flamboyant hand signatures, black printing, on vellum, large paper seal attached to bottom left, a lovely example in almost extremely fine condition but the tip of the paper seal has been cut with the bottom edge. £1,500-1,800

354 Hiladora Illicitana, nominative 500 pesetas share, Elche 1925, no. 1168, pale orange and black, allegorical figures spinning, with coupons, very fine. £50-60 353 Fuentes Minero-Medicinales El Paraiso, S.A., 100 peseta share, Manzanera 19[28], no. 78, birds eye view of the town of Manzanera at left, ornate border, turquoise, brown and yellow, with coupons, creased at edges but good very fine and scarce. £60-80

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356 Minas y Ferrocarril e Utrillas S.A., 500 peseta share, Zaragoza 1902, no. 3728, company logo in centre flanked by shields and stylised steam train and mining tools, red and dark green, with coupons, good very fine. £60-80

355 “La Salud” en Onteniente, 500 peseta share, Onteniente 1903, no. 1161, winged allegorical female with sylised fish spewing water, ornate border, green and brown with yellow underprint, crease at left but about extremely fine. £60-80

357 Valencia and Liria Railway Co. Ltd., a group of bearer warrants for £10 shares, London 1888, numbers 794 to 804, ornate border, brown, text in French, English and Spanish, with coupons, extremely fine and better. (11) £150-200

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SWEDEN

SWITZERLAND

359 Cie des Mines D’Anthracite de Régny, 250 franc share, Lausanne 1903, no. 8083, very attractive border of mining scenes, miners and allegorical females, brown and blue, with coupons, good very fine. £60-80 A Swiss company operating coal mines at Regny, near Lyon.

358 Malmo Bageri Aktie Bolags, a group of 112 certificates for 50 Kronor shares, 192[1], vignette of the Bakery flanked by ears of wheat at top centre, black, yellow underprint, with coupons, generally extremely fine. (112) £150-200

360 Soc. des Charbonnages des Alpes, 250 franc share, Geneva 1902, no. 1744, ornate border with miners, mining scene and coats of arms, mountain scene in underprint, blue, text in French and Italian, with coupons, very fine. £60-80

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GREAT BRITAIN AND IRELAND

PROPERTY OF H.M. TREASURY 361 The Property of H.M.Treasury: A fascinating large group of bonds, all relating to the War debt incurred during the First World War. None of these bonds have previously been seen on the market except a single ‘specimen’ Exchequer Bond for £100,000 payable to the Russian Government. This ‘specimen’ piece sold at £1,300 in our sale in 2010. The entire 15 issues totalling 400 bonds are available in this lot! Please see separate brochure for a full description of all the bonds in this lot. £40,000-50,000 Government Loans

362 Exchequer Order of Payment, issued under Act of 1679 entitled An Act for Granting a Supply to his Majesty of Two hundred and Six Thousand Four Hundred sixty two pounds seventeen shillings and three pence, for Paying off and Disbanding the Forces Raised since the Nine and Twentieth of September One Thousand six hundred seventy seven, authorising repayment, at 8% interest, a sum paid for the quartering of soldiers, handsigned by Essex, Erle, Dering and Godolphin, Lords Commissioners of the Treasury, black printing with manuscript insertions, trimmed as usual at bottom and damge to right edge just into signatures, fine. £200-300

363 Exchequer Order of Payment, issued under Her Majesty’s Letters of Privy-seal 1702 and 1704 for the ‘Sale of Her Majesty’s Tin’, authorising repayment, at 5% interest, the sum of £100, dated 1714, handsigned by Robert Harley, Earl of Oxford, black printing with manuscript insertions, trimmed at bottom as is often the case with such pieces, ragged right edge, fine. £300-400 Robert Harley, Earl of Oxford, Earl Mortimer, 16611724. Statesman and politician; Chancellor of the Exchequer, 1710-1711; First Lord of the Treasury 17111714; Instrumental in the formation of the South Sea Company of which he was made a Governor, to take over the Government debt which had risen dramatically during the War of Spanish Succession.

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364 Exchequer Receipt, 1724/5, in the sum of £750 in respect of an Order for £3000, dated March 1723, issued for His Majesty’s Secret Service, signed by Viscount Townsend, a manuscript document, folio, good condition without the usual trimming, very fine and an interesting subject. £100-150 Viscount Towsend (1674-1738), Whig Statesman, Secretary of State.

365 An interesting Royal payment order dated 1750, authorising William Pitt, Paymaster General of ‘our Guards, Garrisons and Land Forces in Great Britain and Forces abroad’ to pay allowances to certain officers and private men belonging to various troops of horse guards, handsigned by King George II at top, William Pitt lower left and Lyttleton, Campbell and Grenville at lower right, handwritten, folio, very fine. £3,000-3,500 William Pitt, 1708-1778; 1st Earl of Chatham, known as Pitt the Elder by historians; Prime Minister, 17661768: George Lyttleton, 1709-1773, 1st Baron Lyttleton; Chancellor of the Exchequer, 1755: George Grenville, 1712-1770; Chancellor of the Exchequer and Prime Minister, 1763-1765; Brother in Law to William Pitt.

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366 Irish Government Life Annuities, a 6% debenture certificate for £100, 3rd Class, Dublin 1774, no. 631, black printing with manuscript insertions of the holder and, in this case, his eldest daughter, aged 3, three folds with very minor separation at the edges, about very fine and scarce. £200-300 368 Tontine Annuity 1789, a vellum certificate for £100 and 5 shillings, 1790, in the name of the daughter of Andrew Kinsman, paying an annual annuity of £4 3/with the benefit of survivorship, black printing, on vellum, with receipts to 1828, some on attached vellum sheets sewn at the base, creased, fine and very rare. £200-300

369 Consolidated £3 per Cent. Annuities, inscribed stock certificate, 179[3], for £100 of stock, black printing, piece missing from bottom right corner from spiking, very fine. £100-150

367 Exchequer Receipt, relating to an Order of Payment dated 1778 for ‘Use and service of the Navy and Victualling thereof’, for the sum of £77, 254 1s 91⁄ 4 , out of additional excise on beer since 1765, printed document with manuscript insertions, trimmed at bottom edge, fine and interesting subject. £100-150 107

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370 Consolidated £3 per Cent. Annuities, a printed Power of Attorney appojnting the partners of Goslings Bank in London to buy, sell or transfer stock, printed document with manuscript insertions, black and red, printed both sides, some toning in lower half, very fine. £60-80

371 £3 10s Per Cent. War Loan, bond for £100, London 1932, no. B285190, ornate border, brown and black, facsimile signature of Warren-Fisher as Secretary of the Treasury, with coupons from December 1940, folded but about very fine and uncancelled, rare thus. £150-200

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South Sea Company

x372 Old South-Sea Annuities, inscribed stock receipt for £500 stock, London 176[0], black printing on thick paper, small pin hole top left corner but still intact, otherwise good very fine. £300-400

x373 New South-Sea Annuities, inscribed stock receipt for £333.6.8 of stock, London 177[4], heading and ornate device printed in red, remainder of text in black, small piece missing top left, otherwise good very fine. £250-300

374 South Sea Company, an interesting late issue inscribed stock receipt, 182[34], transferring £1423 4/- of stock, black printing, pinholes at top left, very fine and rare; together with British Government inscribed stock certificates, all dated 183[4], for Consolidated £3 per Cent. Annuities, Reduced £3 per Cent. Annuities, Three Pounds Ten Shillings per Cent. Reduced Annuities and New £3.10s per Cent.

Annuities, all with black and red printing, the last with small piece missing at top left the rest intact with just pin or spike holes, very fine. (5) £180-220 109

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x375 Kennet and Avon Canal, ticket for [half] share, 1794, no. 3477, small format, black printing, paper seal attached, small nicks and slight discolouration at bottom, about very fine. £250-300

376

x376 Kennet and Avon Canal Navigation, share ticket, 1808, no. 9248, black printing with blue paper seal attached, good very fine. £200-300

377 Manchester Ship Canal Company, a specimen 5% redeemable debenture for £100, 1934, from the Bradbury, Wilkinson & Co. archive, large format piece with steamship at top, scrollwork border, red with green underprint, blue circular Bradbury specimen stamp at bottom, with counterfoil, extremely fine. £80-100

x378 Stratford-Upon-Avon Canal Navigation (Company of Proprietors of the), £200 Annuity, 18[15], folio format with transfers attached by small metal clip, black printing, stamped in red ‘cancelled’ at top and seal bears three punch holes, splits at edges, otherwise good fine. £100-150 377

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Canals

381 Wey & Arun Junction Canal Company, one share, 17 December 18[31], serial number 899, attractive vignette of coat of arms at top, black on thick paper, paper and wax seal, extremely fine. £150-180

x379 Thames Navigation, 5% second Loan £100 bond, 179[1], no. 28, Loan issued for improving navigation from Stanes to Cricklade secured on tolls and duties, printed on vellum, with large revenue stamp at top left, signed by twelve Directors, full handwritten interest history on reverse, including addendum woven onto left edge, has seen wear, generally very fine. £250-300

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)

Railways and Railway Engineers

x380 Thames and Severn Canal-Navigation, certificate for New Shares, 18[09], no. 1946, signed by John Disney as Chairman, red printing, on vellum, very fine. £150-200

382 Beyer Peacock & Co. (1902) Ltd., a specimen certificate for 100 ordinary shares of £1, 190-, from the Bradbury, Wilkinson & Co. archive, steam locomotive at left, very ornate border, orange and black, with coupons, small hole cancels over signature area, extremely fine. £80-100 111

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bonds and share CertifiCates of the WorLd 383 Cornwall Railway Company, a group of 11 certificates for £50 shares, 184[6], numbers 808-9, 816, 826-8, 846-848, 853 and 863, scrollwork at left, black on dark green paper, attractive embossed seal, generally about extremely fine. (11) £150-180

384 East Lancashire Railway Co., one New Share, 184[6], no. 64329, scrollwork at left, black on pink paper; together with Lancashire Union Railway Co., £100 share, 1867, no. 1006, date not fully completed, blue, red seal, about extremely fine and extremely fine.

(2) £60-80

386 Glasgow and South Western Railway, Ardrossan Guaranteed Stock, set of unissued certificates for £5, £10, £25, £50, £75, £100, £200, £300, £400, £500, £600, £700, £800, £900 and £1000, 185-, all numbered 76, ornate border with arms in each corner, black, extremely fine. (15) £60-80

387 Gorsedda Junction and Portmadoc Railways Company, £10 share, 187[5], no. 1412, lovely vignette of double ended Fairlie locomotive, often seen on the Welsh narrow gauge railways, black, extremely fine. £80-100

388 Leeds & Thirsk Railway Co., one share, 1845, no.

15432, plain black printing, on vellum, small embossed seal, single punch hole at top left, good very fine. £80-100 x385 Edinburgh and Northern Railway, £5 share, 184[8], no. 2749, printed in orange on light blue-grey paper, with white paper seal bottom left, tiny ink stain at bottom edge, very fine. £80-100

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June 7, 2013 - London 391 Pyramidical Railway Co. Ltd., £1 shares, 18[date not completed in error but circa 1895], no. 269, scrollwork at left, black, embossed seal lower left; together with British Colonial & General Investment Trust Ltd., £5 shares, 188[4], no. 475, Britannia with lion at left, black, this with minor spotting at top and lower left corner torn just touching the design, very fine.

(2) £60-80 392 Shrewsbury and Hereford Railway, £20 share, 1846, vignette of castle atop hill, black, together with Leominster & Bromyard Railway Co., 1880, Cornwall Railway Co., 1846, Fitchburg & Worcester Rail Road Co., $100 bond, 1869, and others (9), generally very fine or better. (13) £120-150

388A Leeds & Thirsk Railway Co., New Extension Shares, 184[8], no. 42917, black printing, on linen, pink paper seal bottom left, about extremely fine. £60-80 389 London & Birmingham Railway Co., £100 share, 18[33], no. 16901, black on attractive watermarked paper, pink paper seal; together with other British railway certificates (7), including Burry Port & Gwendreath Valley Railway Co., £100 share, 186[6], and Shrewsbury and Hereford Railway Co., £20 share, 1846, vignette of castle, the last heavily toned from framing, the first two extremely fine, the remainder very fine or thereabouts. (8) £140-180

393 Watford & Rickmansworth Railway Company, £10 share, 18[62], no. 1403, scrollwork at left, black, embossed seal depicts resting deer, very fine. £60-80

390 Preston & Wyre Railway, Harbour & Dock Co., half shares of £12 10s, 18[45], no. 417, black, pink paper seal lower right, about very fine. £80-100 394 Wharfdale Railway Co., £15 share, 1846, no. 20151, Craven heffer in centre, black, blue underprint, red embossed seal, minor toning, extremely fine. £60-80

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Shipping and Shipbuilding

396 Kent Shipping Company, one share of £50, 18[39], no. 103, small sailing vessel at top left, scrollwork at left, black printing, on vellum, centre fold, good very fine. £250-300

395 Cunard Steam Ship Co. Ltd., 41⁄ 2 % Mortgage Debenture stock, certificate for [£225], 19[10], no.

1824, attractive 4 funnel steamer at top, possibly the Lusitania, blue, embossed seal at bottom, very fine. £100-120

397 Port of Portsmouth and Ryde United Steam Packet Co. Ltd., 2 6% debentures for £100, 1878[9], numbers 95 and 96, of only 250 issued, large format, black printing with red seals which have been removed as cancellation, these very fine; together with British Railway certificates (25), many of which are unissued, mixed condition, fair to very fine. (27) £150-180

398 Sir James Laing and Sons Ltd., pair of certificates for £10 ordinary and £10 preference shares, 1[899], numbers 72 and 7, signed by 3 different members of the Laing family, stylised vignette of early sailing ship at left, ornate border, green and red respectively, printed by Andrew Reid of Newcastle, the first ink cancelled, very fine to extremely fine. (2) £100-120

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399 Thames Iron Works Shipbuilding & Engineering Co. Ltd., First Mortgage debenture for £100, 1899, no. 1096, large format piece with Roman gods Neptune and Vulcan at top, mauve, printed by Waterlow & Sons, good very fine. £60-80

401 Harbour of New Shoreham in Sussex, £100 share, 18[19 (date not completed in error)], no. 39, handsigned by 8 officials including Brighton bankers Hall and Borrer, large format piece printed in black, on vellum, together with three related transfer documents dated 1819, 1829 and 1834, folds and vellum slightly discoloured but about very fine and rare. £300-400

Bridges, Piers, Docks and Harbours

x400 Hammersmith Bridge Company, one share, [1824], no. 1203, ornate scrollwork at left, large hexagonal paper seal at bottom left depicting the bridge spanning the Thames, black on vellum, vellum slightly yellowed, good very fine. £200-300

402 Highgate Archway Company, £50 share, 18[10], no. 308, attractive early piece with red paper seal affixed at left, black printing on vellum, good very fine and especially nice condition for this issue. £200-250 115

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x404 Vauxhall Bridge Company, share, London 18[26], no. 1847, issued to Henry Digby of Harley Street, ornate border at left incorporating large copper seal depicting allegorical figure, printed in black on thick paper, toning down left side, otherwise good very fine. £200-300

Motor Cars and Cycles

403 Newport (Monmouthshire) Dock Company, a lovely transfer certificate for £20 preference shares, [1880], although on an earlier printed form, beautiful vignette of docks with steam and sailing ships and warehouses, black, printed by Waterlow, Bros & Layton, very fine. £150-200

405 Alldays & Onions Pneumatic Engineering Co. Ltd., 41⁄ 2 % Mortgage debenture for £100, no. 310, 1898, large format piece with arms at top, ornate border, green and brown with green underprint, with coupons, repaired edge splits but very fine. £80-100 WWW.spinK.Com

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408 Buckingham & Adams Cycle & Motor Co. Ltd., 5 shilling shares, 1[900], no. 21, scrollwork at left, green, light stain from old rubber band and annotated at top edge, very fine. £60-80

406 An interesting pair of early Motor Car/Cycle companies, Swift Cycle Co. Ltd., £1 shares, 190[7], no. 3439, facsimile signature of Harvey du Cros Jun, brown; together with Singer & Co. Ltd., 7/6d preference shares, 190[3], no. 341, scrollwork at left with small vignette of Coventry Cathedral, red-brown, very fine and better. (2) £60-80

407 British Motor Company Ltd., £1 preference shares, 189[8], signed by Harry Hewitt Griffin as director and Charles Jarrott as secretary, scrollwork at left, red, about very fine. £120-150

409 New Enfield Cycle Co. Ltd., £1 ordinary shares, 189[6], no. 1129, attractive floral heading with scrollwork at left, olive green, neat cancellation stamp, good very fine and scarce. £60-80

This was Harry J Lawson’s main company for the acquisition of the Daimler patents with which he was to control the motor manufacturing business in the UK. Originally incorporated as the British Motor Syndicate in 1896 it was reorganised in 1898 as above. The company acquired numerous automobile patents, paying outrageous sums for them, most notably the Pennington patents which proved to be worthless. The company was again reorganised as the British Motor Traction Company in 1901 by racing driver S.F. Edge and Lawson gradually disappeared from the scene. A key piece in British automobile manufacturing.

Hunt End Works, Redditch.

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Banking, Insurance and Finance 410 A collection of Banking companies, comprising Adelphi bank Ltd., 1863 and another 1891; Belfast Banking Co. Ltd., 1914; Cheque Bank Ltd., 1900; City Bank Ltd., 1893; Civil Service Bank Ltd., 1892, Farrows Bank Ltd., 1914; Lincoln & Lindsey Banking Co. Ltd., 1905; London & Northern Bank Ltd., 1899, this with tear at left; London County Westminster & Parr’s Bank Ltd., 1919, generally very fine, some better. (10) £100-150

x412 “The Commercial Buildings” in Barnsley, one share, 1838, no. 218, ornate scrollwork at left incorporating small shield, black, some slight staining at bottom right, otherwise good very fine. £100-120 413 County Fire Office, certificate for [5] shares, 185[1], numbers 3111-3115, small format, black printing, on vellum, ink cancellation, very fine. £60-80 x411 Asylum Life Assurance Company, one share, [1837], no. 1798, printed in black on vellum, some light discolouration, good very fine. £60-80

The County Fire Office was formed in 1807 originally from the house of J.T. Barber Beaumont in Covent Garden. Shares were offered in limited numbers throughout the country with no single shareholder being able to hold more than 10 shares. It was registered as a Limited Liability company in 1905 and acquired by the Alliance Insurance Company in the following year although retaining it’s trading name.

414 Darlington District Joint Stock Banking Co. Ltd., £25 shares, 18[82], no. 99, mauve printing with red paper seal, printed by Waterlow, Bros & Layton, good very fine. £80-100 Founded in 1831, this bank created a good network of branches in the county, converting to a limited company in 1882. Speculations of the manager at the Bedale branch in 1883 caused a run on the bank and it was acquired by the York City and County Bank soon after.

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416 Hibernian Joint Stock Company, £100 shares, 18[84], no. 812, issued to Simon Mangan, allegorical figure top centre, black, very fine. £150-200

415 Equivalent Company, a dividend warrant for the 228th dividend being 1⁄ 2 per cent on £2,500 of capital stock, 6th July 1819, payable at the Bank of England, issued to and signed by William Kops Coussmaker, small format, black, printed in London, single punch hole top left, ink cancel at top, very fine and the only type of paper seen of this important company. £60-80

The company was formed in 1825, changed its name in 1885 to the Hibernian Bank which later became part of the Bank of Ireland. Simon Mangan was Her Majesty’s Lieutenant for County Meath from 1894 to 1906.

The Equivalent Company was the parent and founder of the Royal Bank of Scotland. It was formed by Act of Parliament in 1724 to incorporate the holders of ‘Equivalent Debentures’, these being 5% bonds of uncertain redemption date issued to unlucky creditors of the Scottish national debt (soldiers, tradesmen etc) for whom there was insufficient cash in the ‘Equivalent Fund’ created by England under the 1707 Act of Union.

The Fund was granted to Scotland by the English Parliament and was intended to be ‘equivalent’ to the additional duties the Scots were expected to pay as a result of the Union. The company’s authorised capital was the exact amount of the debentures - £248, 550.0s.91⁄ 2d. In 1727 the company obtained a Scottish charter to create a bank for banking in Scotland only (thus evading the Bank of England’s monopoly) with an initial capital of £111,000. This was the Royal Bank of Scotland. After this the Equivalent Company continued in existence in London, paying regular dividends, we assume with those shareholders who had chosen not to convert their shares into the Royal Bank. In 1835 the company distributed its Equivalent Stock to its shareholders.

x417 Kent Equitable Investment & Mutual Benefit Building Association, £100 share, 18[46], no. 240, ornate scrollwork at left, small vignette of Kent shield within embellished heading, at top, printed in black on vellum, small nick bottom edge, otherwise very fine. £80-100

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418 Kent Life and Annuity Assurance Office, £50 share, 18[08], number 272, lovely vignette of Kentish horse flanked by allegorical figures including ‘Justice’, black printing, on vellum, slight discolouration but about extremely fine. £250-300

x420 London and Manchester Equitable Loan Company, part-paid share, 182[5], no. 4421 - 4425, ornate heading, printed in black on thick paper, indistinct red stamp and counter-signature over Directors, good very fine. £80-100 421 Overend, Gurney and Co. Ltd., a group of certificates for £50 share, 1865, scrollwork at left, black, embossed seal, a few with uneven left edge otherwise generally extremely fine and better. (53) £300-400 The most famous of banking companies, causing the crash of 1866 following it’s huge speculations and overlending. Sound familiar?

419 Liverpool Colquitt Street Tontine, one share, Liverpool 180[7], no. 82, black printing, on vellum, handwritten transfer on the reverse and not cancelled which is very unusual for this issue, a little yellowed, good very fine and scarce thus. £60-80 Early life insurance piece with benefits going to the last surviving member.

422 Rothschild Family, an interesting and varied lot of documents relating to various members of the Rothschild family, includes two bills of exchange dated Newcastle 1835 both handsigned by Nathan Meyer Rothschild on the reverse, his signature also appears on a letter to correspondents in Lisbon dated 1827 and on a piece attached to a silhouette, also contains a copy of a 1822 Russian Loan, many more documents signed by other members of the family, mixed condition but an interesting group. (18) £600-800

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June 7, 2013 - London x426 British Copper Mining Company, certificate for 5 shares, London 1834, nos 1971 to 1975, company name at left and at top, black printing on vellum, condition printed on the reverse, good very fine. £120-150 427 Carnforth Hematite Iron Company (1915) Ltd., £1 shares, 191[8], no. 788, ornate border, blue, printed by Waterlow & Sons, together with other mining, steel and iron companies (7) comprising Smith Patterson & Co. Ltd., Blaydon on Tyne, 1883; Ulverston Mining Co. Ltd., 1873; Minera Ragman Mining Co. Ltd., 18[63]; John Spencer & Sons Ltd., 19[14]; Caldbeck Fells Consolidated Lead & Copper Mining Co. Ltd., 18[70], and others (2), generally very fine and better. (8) £80-100

423 Wolverhampton and South Staffordshire Benefit Building & Investment Society, certificate for one share, 18[50], number 1240, scrollwork at left, black printing, on vellum, ink cancellation on face but about very fine and rare. £60-80

Mining 424 A good group of colliery certificates (11), comprising Mainsforth Colliery Co., £500 share, 18[74], no. 33 of only 180 issued; Benhar Car Co. Ltd., 1872; Blackett and South Tyne Collieries Ltd., 190[13]; Castle Eden Coal Co. Ltd., 1891; Haswell, Shotton & Easington Coal & Coke Co. Ltd., £500 share, 18[65] and 10% preference share, 18[82]; Newsham Colliery Co. Ltd., 19[12], and others (4), generally very fine and better. (11) £120-140 x428 Dartmoor Consolidated Tin Mines, one eight hundreth share, 182[4], no. 351, scrollwork at left with ‘£40,000’ in centre, black. about extremely fine. £120-150 Mine in the Parish of Sheepstor, Dartmoor.

425 British Copper Mining Company, certificate for 5 shares of £5, 1834, no. 1816 - 1820, black printing, on vellum, conditions printed on the reverse, almost extremely fine. £60-80

429 Durham County Coal Company, share certificate, 183[8], no. 6031-6035, arms at top left, scrollwork left, black, good very fine and scarce. £60-80

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430 East Wheal Brothers Copper, Tin, Lead & Silver Mining Company, 5 shares of £20, 1835, no. 22262230, orange brown printing, on vellum, regulations printed on the reverse in black, vellum a little yellowed otherwise good very fine. £50-60

431 Groeswen & Caradog Collieries Ltd., pair of bearer certificates for 5 and 20 shares of £1, 190[1], no. 417 and 190[2], no. 224, large format pieces with coal mining headgear at top, ornate borders, text in English and French, with coupons, both about very fine. (2) £80-100

An extensive mining lease incororating Wheal Brothers, Wheal Sisters and East Cornwall Mines covering an area of about 1800 acres.

432 Nidderdale Lead Mining Co. Ltd., 2 ordinary shares, 18[60], no. 1027 and 2 preference shares, 186[7], no. 4990, both with vignette of entrance to mine at Pateley Bridge, black pink underprint, the first slightly larger with red seal, about extremely fine. (2) £60-80 WWW.spinK.Com

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435 433 St. Gennys Mining Company, Cornwall, 5 shares of £5, 1835, no. 217, scrollwork in centre, black, on vellum, 4 pages with conditions printed on the inner front, good very fine. £120-150

x436 West Cork Mining Company, £50 share, London [1836], no. 1895, ornate scrollwork at left, printed in black on vellum, good very fine. £60-80

434 “Shell” Transport & Trading Co. Ltd., £1 ordinary shares, 19[10], no. 14990, oilfield at right, tanker at left, storage tanks in centre, blue, light toning and couple of small edge nicks at left, very fine and a rare early date. £60-80

x437 West Cork Mining Company, £50 share, London [1836], no. 2923, ornate scrollwork at left, printed in black on vellum, good very fine. £60-80 438 Woods Trimdon Collieries Ltd., £500 shares, 187[4], no. 66, blue; together with 7% debenture bonds for £100, 187[4], black, with coupons, 2 examples and 7% debenture bonds for £100, 187[4], red, with coupons, 3 examples, very fine and better. (6) £80-100

x435 Trevorgus Silver, Copper & Lead Mining Company, £5 share, London 18[35], no. 169, company name at left, attractive heading, FIVE in underprint, black, on vellum, 4 pages with details of the company, ink has leached into the vellum, calls recorded on reverse, otherwise good very fine. £120-150 Trevorgus Mine in Parish of Saint Merryn, Cornwall 123

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Commercial and Industrial x439 An interesting group of British and other items including Strand Music Hall Co. Ltd., £10 share, 1862; Glenaulin & Carivilleen Mining Company of Ireland, 5 shares, 1852; East India Irrigation & Canal Company, £20 share, 1860; Peak Forest Mining Company, one share, 1858 and Oriental Inland Steam Co. Ltd., £10 share, 1860, and others (9), generally very fine or better. (14) £120-150

440 A mixed lot of British certificates, comprising Inscribed Stock certificates (6), 1812 - 1841, including Navy 5% Annuities; South Staffordshire Tramways Co., ordinary stock certificate, 1889; other British registered companies with some duplication, including Overend, Gurney and Co. Ltd., £50 share, 1865; Melkedalen Ltd., 1905; Peninsular Copper Co. Ltd., 1882; Pena Copper Mines Ltd., 1905; Electrolytic Company (Spain and Portugal) Ltd., 1909; Prudential Assurance Co. Ltd., 1906; Camp Bird Ltd., 1920; Butlin’s (Bahamas) Ltd., 1952; Spassky Copper Mine Ltd., 1912; a quantity of Waterford, Dungarvan and Lismore Railway Co., 1873 to 1890, and many others including some modern, mixed condition but many very fine and better.

(81) £300-400

441

441 Albert Exhibition Palace Ltd., £5 shares, 188[3], scrollwork at left, black, embossed seal depicting the Exhibition hall with head of Prince Albert above; together with Albert Palace Association Ltd., £5 shares, 18- (fully issued circa 1883 but date omitted in error), no. 167, scollwork at left, black, embossed seal, both very fine. (2) £60-80 These companies were formed in 1882, one to hold the lease of the property and the other to run the Exhibition Palace itself. Located in Battersea and forming a backdrop to the popular Battersea Park the building held both inside and outside attractions but insufficient visitors and financial problems forced the Palace to close in 1888. Albert Palace Mansions and Prince of Wales Mansions now stand in it’s place and the former gardens are occupied by Battersea Polytechnic and York Mansions.

442 Anglo-French Public Works Co. Ltd., a group of bearer certificates for 1/- ordinary shares, 190[7], numbers 25 to 29, ornate borders, English and French flags top centre, blue and green, text in English and French, with coupons, about extremely fine. (5) £60-80

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x443 Baird International Television Limited, “A” shares of 5 shillings, 19[28], no. 7292 ornate border, blue and black, transfer attached with staples at top, some small splits, fine to very fine. £80-100

445

444 Bristol Institution for the Advancement of Science, Literature and the Arts, certificate for one share, issued to Francis Fry, 18[26], no. 497, attractive frieze of allegorical females at top, black printing, on vellum, good very fine and rare. £200-300 445 British Alkali Company, £25 shares, 18[46], no.

196, monogram in centre, black, very fine. £80-100

x446 British Aluminium Co. Ltd., a specimen 5% registered Prior Lien debenture for £100, 19(annotation for 1910), from the Bradbury, Wilkinson & Co. archive, vignette of Kinlochleven works at top, green and black, numbered 0000, small hole cancels over signature area, with coupons, American style, extremely fine. £80-100 Built between 1905-9, the Kinlochleven Aluminium works was the second smelter to be built by the company and included a hydro-electric power station, the largest of its kind at that time. The works closed in 2000.

Formed by Act of Parliament in 1836 to acquire and expand the factories for salt and soda production built at Stoke Prior in Worcestershire along the course of the Birmingham and Worcester Canal. A large employer of some 200 workers the company was in financial difficulties by 1850 and just two years later, in 1852, was in liquidation.

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x447 British Gas Light Company, £50 share, 18[25], no.

2924, ornate scrollwork at left, embellished heading with Gas Light ‘illuminated’, printed in black on vellum, conditions printed on the reverse, about extremely fine. £150-200

449 British Mutoscope & Biograph Co. Ltd., £1 shares, 189[9], no. 1471, slate blue with red seal, small ink stain in centre, together with Wireless Pictures (1928) Ltd. ‘The Fultograph’, 4/- shares, 19[29], scrollwork left, black, both very fine. (2) £60-80

x448 British Gas Light Company, £50 share, 18[25], no.

2925, ornate scrollwork at left, embellished heading with Gas Light ‘illuminated’, printed in black on vellum, conditions printed on the reverse, about extremely fine. £150-200 450 Cockermouth Golf Club Ltd., pair of certificates for 10 shilling ordinary shares, no. 68 and one 2/6d deferred share, no. 98, both dated 19[08], ornate borders, black and red respectively, good very fine. (2) £60-80

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June 7, 2013 - London 451 A good collection of Cotton Mill companies, mostly in the Manchester and Oldham area, comprising Athens Mill (1919) Ltd., 1928, number 1; Castle Spinning Co. Ltd., 1926, vignette of the mill building; Crawshawbooth Cotton Manufacturing Co. Ltd., 1857; Fine Cotton Spinners and Doublers Association Ltd., 2 types 1901 and 1911; Higginshaw Mills and Spinning Co. Ltd., 1884; Hollinwood Spinning Co. Ltd., 1920; John Chadwick & Co. Ltd., 1918; Longfield Cotton Spinning Co. Ltd., 1881; Middleton & Tonge Cotton Mill Co. Ltd., 1879, huge vignette of mill building; Minerva Spinning Co. Ltd., 1926; Mossley Spinning & Manufacturing Co. Ltd., 1875; Whitlands Twist Co. Ltd., 1920, vignette of mill building, and, Wren Mill Co. (1920) Ltd., 1927, mixed condition but mostly fine to very fine. (14) £120-150

453 A very good collection of Gas companies, comprising Altrincham Gas Co., 2 types, 1846 and 1855; Ampthill Gas and Coke Co., 1849, on vellum; Appledore Gas Co Ltd., 2 types 1875 and 1889 plus a transfer certificate; Aspley Guise & Woburn Sands Gas Co. Ltd., 1869; Birmingham & Staffordshire Gas Light Co., 1845; Chester Gas Light Co., 1845; Cranbrook Gas Co., 1844; Derby Gas Light and Coke Co., 1915; Donington Gas Co. Ltd., 1857; Economic Gas and Coke Co. Ltd., 1891; Folkestone Gas & Coke Co., 1899; Folkingham Gas & Coke Co. Ltd., 1863; Gas Light & Coke Co., 1870; Longtown Gas & Coke Co., 1856; Middleton and Dinsdale Gas Co., Ltd., 1872; Middlewich Gas Light and Coke Co., 1855; Montgomery Gas Co. Ltd., 1857; Pewsey Gas Co. Ltd., 1863; Poulton Le Fylde Gas, Coal, Lime & Coke Co., proof, 18- (circa 1890); Settle Gas Co. Ltd., 2 types, 1856 and 1861, the first with corner torn away; South Luton District Gas Light & Coke Co. Ltd., 1907; Tattershall & Coningsby Gas & Coke Co Ltd., 2 types, 1860 and 1866; Warrington Gas-Light & Coke Co., 1848; Wath-Upon-Dearne Gas & Coke Co., 1844, and, Wymondham Gas Light & Coke Co., 1848, generally very fine and many better. (30) £300-350

452 Croydon Hotels Co. Ltd., certificate no. 1, 188[3], issued to Fredericke Rocke and signed by James Hobbs as Director, small vignette of greyhound, black, about very fine. £60-80

454 Grand Junction Water Works, £50 ‘additional’ share, 18[17], no. 3547, black printing on vellum, red paper seal at lower left, minor discolouration of vellum as is usual, good very fine. £100-120

Owned the Greyhound Hotel in High Street, Croydon.

Financed and built by Jabez Balfour and associates.

Frederick Rocke was a director of 3 of the Balfour companies. Hobbs was the builder who also sat on the board of Balfour companies. He was sentenced to 12 years imprisonment (later reduced to 8) following the collapse of the Balfour empire

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455 Grand Junction Water Works, £50 ‘additional’ share, 18[17], no. 3548, black printing on vellum, red paper seal at lower left, minor discolouration of vellum as is usual, good very fine. £100-120

x456 Grand Junction Water Works, one share, renewed certificate, 18[27], no. 1312, ornate scrollwork at left, printed in black on vellum, red paper seal attached, some slight toning, otherwise good very fine. £120-150

457 Harrod’s Stores Limited, £1 ordinary shares, 18[94], no. 5766, scrollwork at left, blue printing, has been removed from a frame, two small edge tears but about very fine and rare and the first time the cataloguer has seen shares of this company of this early date. £200-300

458 A collection of Hotel companies, comprising Agricultural Hotel Co. Ltd., 1900; Army and Navy Hotel Ltd., 1880; Dolphin Hotel & Restaurant Co. and Michael Nugent Ltd., 1949; Grand International Alliance Hotels Co. Ltd., 1864; Hanley Hotel Co. Ltd., 1864; Hotel Belgravia Ltd., 1893; Hotel Chatham Ltd., 1909; Hotel Metropole Bexhill-on-Sea Ltd., 1901; Kennan’s Hotel (Cheapside) Ltd., 1893; Naval & Military Co-Operative Hotel Co. Ltd., 1910; New Hydropathic Hotel, west Kirby, Ltd., 1899; Tarbet (Loch Lomond) Hotel Co. Ltd., 1934, and Westminster Palace Hotel Co. Ltd., 1858, mixed condition but many are very fine. (13) £120-150

459 Hull Flax and Cotton Mill Company, a fine group of 3 certificates for £100 share, 1837, no. 208, £50 share, 18[46], no. 664 and £100 share, 185[3], no.

1142, all small format, scrollwork at left, printed in black on vellum, extremely fine. (3) £100-120

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June 7, 2013 - London 463 John Hunter, Morris & Elkan Ltd., a large group of certificates, 5 different types, 3 of which are ordinary shares with different capital structures, the remaining 2 are preference shares the last of which is after the company name had been changed to Hunters and W.K. Ltd in 1941, all brown with yellow underprint, stamped cancelled, generally very fine. (102) £150-200 Sole distributers of the famed Monte Christo brand of Cuban cigars in Great Britain. Merged in 1963 to become Frankau and Hunters, the largest importer and distributers of Cuban cigars in the country.

460 Hull Glass Company, certificate for [5] shares, 1846, numbers 11-15, scrollwork at left, black printing, on vellum, very fine and rare. £60-80

461 Imperial Chemical Industries Ltd., 7% preference shares, 19[36], no. 190155, ornate border, blue, scarce; together with Liverpool, Manchester and Newcastle upon Tyne Junction Railway Co., £20 share, 1846; South Staffodshire Mines Drainage Commissioners, Tipton Dstrict, £100 bond, 1892, very attractive piece printed by Waterlow & Sons, Ltd; Barrow Salt Co. Ltd., 189[7]; Haswell, Shotton & Easington Coal & Coke Co. Ltd., two types, 18[65] and 18[82], and others (2), generally fine to very fine.

(8) £100-120

464 Labour Newspapers Ltd. (The Daily Citizen), £1 ‘D’ shares, 5 shillings paid, 19[12], no. 670, signed

by Edward Pease and Ramsay MacDonald as directors, scrollwork at left, black, good very fine. £120-150 Formed as the official daily paper of the Labour Party and the T.U.C. when their former paper the Daily Herald became rather too radical. Funds from members were not sufficient to keep the paper afloat and it closed in 1915. Edward Pease (1857-1955). Socialist founder of the Fabian Society and its long serving secretary.

James Ramsay MacDonald (1866-1937). First Labour Prime Minister, 1924 and 1929-35.

x462 Irish Waste Land Improvement Society, £50 shares, London 18[39], no. 196, ornate scrollworkr at left, black printing, large green paper seal attached bottom right extending outside certificate borders, good very fine. £80-100

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x465 London & Colonial Company Limited, £100 class B share, 18[65], no. 844, vignette at top of dockyard scene, purple with light green underprint, embossed seal bottom left, some fold marks, otherwise very fine. £60-80 466 Newspaper Companies: A collection, comprising Bradford & District Newspaper Co. Ltd., 2 types 1925 and 1928; Blackpoole Times Ltd., 1921; Derbyshire Courier Ltd., 1921; Durham County Advertiser and General Printing Co. Ltd., 1918 and 1920; Lancaster Guardian Ltd., 1920; Lincolnshire Chronicle Ltd., 1917; Oxford Times Ltd., 2 types, 1929 and 1932; Progressive Publications Ltd., 1924; Sheffield Independent Press Ltd., 1909 and 1920; Swindon Press Ltd., 1921; Westminster Gazette Ltd., 1913 and Westminster Press Ltd., 1921, many with interesting signatures such as Arnold Rowntree, Sir Charles Starmer, J.Brunner (ICI), Sir Charles Henry, J.B.Morell and James Hill, mixed condition, some cancelled, fine to very fine. (16) £150-200

x467 Ratcliff Gas Light & Coke Company, £100 share, London 18[24], no. 984, printed in black on vellum, pink paper seal attached at bottom left, tiny hole in centre but good very fine. £150-180

468 A collection of Water Works companies, comprising Bishops Waltham Water Co. Ltd., 1865; Chelsea Water Works, 1894; Dearne Valley Waterworks Co., 1883; East London Water-Works Co., 1904; Grand Junction Water Works Co., 1879; Kent Water Works Co., 1897; Lambeth Water Works, 1895; Matlock Bath Water-Works Co., 2 types, 1864 and 1867; New River Company, 1897; Saint Helens’ Waterworks Co., 1844, on vellum; Southwark & Vauxhall Water Co., 1897, and West Middlesex Water Works, 1885, generally very fine, some better. (13) £120-150

x469 West Middlesex Water Works, £100 share, 1813, no. 3910 together with scrip receipt for one share, 1810, no. 1558, share printed in black on vellum with large red seal, scrip on paper, share good very fine, scrip split at folds fine. (2) £100-150

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SAINT HELENA

RUSSIA

British Territory in the Atlantic Ocean

Collections and Lots 471 A useful group of Russian bonds and share certificates (117), including St. Petersburg, scrip certificate for £500 bond, St. Petersburg £100 bonds 1913 (5), 1906 State loan, bonds for 5000 francs (4), 1864 Internal Loan, 100 roubles (7), Moscow 1908 £20 bonds (7) and £100 bonds (5), and 1890 State Loan, bonds for 3125 roubles (2), generally a good condition lot with many in extremely fine condition.

(117) £400-500

Government Loans

470 Saint Helena Whale Fishery Company, one share, Saint Helena 1837, no. 62, signed by four members of the Committee of Management, plain black printing, a little creased but very fine and a rare subject and location. £300-400

472 1817/18 6% Perpetual Annuities, bearer certificate for 500 roubles, printed date1867, text in Russian and French, black, about extremely fine. £100-120 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.

473 1817/18 6% Perpetual Annuities, bearer certificate for 500 roubles, printed date1867, text in Russian and French, black, about extremely fine. £100-120 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.

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474 1822 5% ‘Rothschild’ Loan, a pair of bonds for 720 roubles or £111, numbers 22872 and 34327, 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, both with talon, good fine and about fine for issue. (2) £150-200

475 1822 5% ‘Rothschild’ Loan, bond for 960 roubles or £148, no. 20369, handsigned by Nathan Rothschild as Contractor, double headed eagle at top, black, on poor quality paper, with handstamp for delivery of new coupon sheet in London, with talon, folds but no repairs and almost very fine. £100-120

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477

476 1822 5% ‘Rothschild’ Loan, bond for 3360 roubles or £518, no. 05826, 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 and Russia, with talon, folds, fine to very fine and a rare denomination. £200-300

x477 1895 Chinese 4% Gold Loan, bond for 500 francs, no. 277477, issued in St. Petersburg, ornate border, brown, red and yellow, 5 large hole cancels as is usual, no coupons, fine to very fine. £400-500

Municipal and City Loans

478 City of Kieff, 5% 22nd Loan, 1914, a group of bonds for £20 (5) and £100 (6), ornate borders, green and brown & mauve and green, text in Russian, English and French, with coupons, generally extremely fine. (11) £120-150

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479 City of Moscow, 1912 41⁄ 2 % Loan, bond for £500, no. 880, large format, coat of arms at top, mauve and black, text in Russian, English and French, with coupons, extremely fine and scarce thus. £60-80

480

480 City of Moscow, 1912 41⁄ 2 % Loan, bond for £1000, no. 244, large format, coat of arms at top, red and black, text in Russian, English and French, with coupons, extremely fine. £120-150

481 City of Odessa, 41⁄ 2 % Loan, 1896, bond for 5000 roubles, no. 127, coat of arms at top, ornate border, mauve and black, lacks coupons, small split at fold, fine and scarce. £200-300

481

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Railways

483 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no. C28549, of only 300 issued, ornate border, red and black, with coupons, very fine to extremely fine. £100-120

482 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, mostly extremely fine and scarce and the last offering from this old source. (50) £600-800

484 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no. C28550, of only 300 issued, ornate border, red and black, with coupons, very fine to extremely fine. £100-120 485 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no. C28551, of only 300 issued, ornate border, red and black, with coupons, very fine to extremely fine. £100-120 486 Kahetian Railway Company, 41⁄ 2 % Loan, 1912, bond for £500, no. C28757, of only 300 issued, ornate border, red and black, with coupons, very fine to extremely fine. £100-120

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x487 Kokand-Namangan Railway Co., 41⁄ 2 % Loan, 1910, bond for £500, no. C8566, of only 80 issued, ornate border, red and black, with coupons, couple of closed tears at right edge, fine to very fine and very rare. £500-600

488

x488 Moscow Windau Rybinsk Railway Company, 4% Loan, 1899, bond for £500, no. 00870, of only 1000 issued, ornate border, red and black, text in Russian, English and German, lacks coupons, old strengthening tape over revenue stamp but very fine. £100-120

489 Riazan - Uralsk Railway Company, 41⁄ 2 % Loan, 1892, bond for 1000 roubles, no. 28827, ornate border, red and black, lacks coupons, almost extremely fine and scarce. £100-120 490 Wladikawkas Railway Company, 4% Loan, 1900, bond for $1000, ornate border, red and black, no coupons; together with other Russian railway bonds (20), the first about extremely fine, the remainder in varied condition with many fine and very fine. (21) £150-200 489

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Banks

491 Banque Internationale de Commerce á St. Petersbourg, certificate for 5 shares of 250 roubles, 1878 issue, ornate border, arms in centre, brown and blue, with coupons, with Danish revenue stamps attached, trimmed at right, near very fine. £60-80

492

492 Banque Internationale de Commerce á St. Petersbourg, pair of certificates for 5 shares and 10 shares of 250 roubles, 1878 issue, ornate border, arms in centre, brown and blue and mauve and grey respectively, with coupons, the first with Danish revenue stamps, the first trimmed at right, both fine to very fine. (2) £100-120 493 Banque Internationale de Commerce á St. Petersbourg, certificate for 5 shares of 250 roubles, 1895 issue, ornate border, arms in centre, brown and blue, with coupons, good very fine. £40-50 494 Banque Internationale de Commerce á St. Petersbourg, certificate for 5 shares of 250 roubles, 1895 issue, ornate border, arms in centre, brown and blue, with coupons, good very fine. £40-50 493 137

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bonds and share CertifiCates of the WorLd 495 Banque Internationale de Commerce á St. Petersbourg, pair of certificates for 5 shares and 10 shares of 250 roubles, 1914 issue, ornate border, arms in centre, brown and blue and mauve and grey respectively, with coupons, small ink mark at top, very fine and near extremely fine. (2) £80-100

496 Banque Internationale de Commerce á St. Petersbourg, pair of certificates for 5 shares and 10 shares of 250 roubles, 1914 issue, ornate border, arms in centre, brown and blue and mauve and grey respectively, with coupons, about very fine and good very fine. (2) £80-100

495

497 Banque Russe du Commerce et de L’Industrie (Russian Commercial and Industrial Bank), 250 rouble share, 8th issue, St. Petersburg 1912, 3 certificates numbers 115243 to 115245, allegorical figures at top left and right, brown and black, text in Russian, French and English, with coupons, almost extremely fine. £60-80

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June 7, 2013 - London 498 Banque Russe du Commerce et de L’Industrie (Russian Commercial and Industrial Bank), 5 shares of 250 roubles, 8th issue, St. Petersburg 1912, allegorical figures at top left and right, blue and black, text in Russian, French and English, with coupons, almost extremely fine. £80-100

499 Russian Commercial and Industrial Bank, a group of 7 certificates for 5 shares of 250 roubles and 2 certificates of 1 share of 250 roubles, all 8th issue, St. Petersburg 1912, attractive design with classical deities at top corners, blue and brown respectively, text in Russian, French and English, with coupons, extremely fine. (9) £300-400

498

500 Russian Commercial and Industrial Bank, a group of 5 certificates for 10 shares of 250 roubles, 8th issue, St. Petersburg 1912, attractive design with classical deities at top corners, red and black, text in Russian, French and English, with coupons, extremely fine. (5) £300-400

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Commercial & Industrial Companies

502 Compagnie des Manganeses du Tchorokh, one share, Paris 1896, no. 241, small format piece with ornate border, coupons under and to the right, text in French with Russian on the reverse, very fine. £60-80

x501 “Caucasus and Mercury” Shipping and Trading Company, 250 rouble nominative share, 1869, no.

9845, ornate border, black and pale blue, with dividend sheet, edge tears at top and left but fine to very fine and rare. £700-800

503 “I. Got” Rope Factory, one share of 5000 roubles, St. Petersburg 1904, no. 176, of only 360 issued, ornate border, mauve and black, with coupons, good very fine and rare. £300-400 WWW.spinK.Com

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505 504 “I. Got” Rope Factory, one share of 5000 roubles, St. Petersburg 1904, no. 175, of only 360 issued, ornate border, mauve and black, with coupons, good very fine and rare. £300-400

x505 “Kanat” Joint Stock Company, a set of 3 provisional certificates for 10, 100 and 500 shares of 100 roubles, Archangel 1918, ornate border, plain black printing, very fine to extremely fine. (3) £1,300-1,500

x506 “Silbanus” Timber Company, pair of provisional certificates for 1000 rouble shares, both Archangel 1917, the first, no. 221, with capital of 500,000 roubles, the second, no. 858, with capital 1,500,000 roubles, ornate border, plain black printing, both extremely fine. (2) £700-800

506 141

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x507 S.A. de L’Affinerie et Laminerie de Métaux a Moscow, 250 rouble share, Moscow 1899, no. 1686, ornate border, green and black, with coupons, tiny tear at bottom edge, about extremely fine. £300-400

508

x508 Société de L’Usine Electrolytique de Moscou, 500 rouble share, Moscow 1913, no. 1810, ornate border, blue and black, with coupons, ragged right edge but body good very fine. £600-700

x509 Société Anonyme des Usines Mecanique de douilles et de Fusées P.V.Baranovsky, provisional certificate for one share of 100 roubles, Petrograd 1917, no. 146157, ornate border, red and black, text in Russian and French, paper toned and brittle with some edge chipping at top and bottom, the body very fine. £200-250

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509

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x511 Société de la Manufacture de Soieries a Moscow, 250 rouble share, second issue 1896, no. 12899, ornate border, black and brown with blue underprint, no coupons, some damage to left edge just into the design otherwise very fine and scarce. £500-600

x510 Société de la Manufacture de Soieries a Moscow, 250 rouble share, 1896, no. 05347, ornate border, black and brown with blue underprint, no coupons, good very fine and scarce. £700-800

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x512 S.A. Russue “Mars”, certificate for 10 shares of 100 roubles, no. 03901/03910, ornate border, red and black, with coupons, bottom left corner a little damaged and brittle, just touching the design, the body very fine. £1,000-1,200

514 Societe Industrielle de Naphte “Tcharken”, 100 rouble share, Moscow 1912, no. 47819, ornate border, brown and black, lacks coupons, light paper adhesion at right, trimmed edges otherwise very fine. £60-80

513 Société Anonyme R & T Elworthy, 4000 rouble nominative share, Elizabethgrad 1908, no. 721, ornate border, mauve and black, text in Russian, English and French, with coupons, slightly ragged bottom right edge, good very fine. £600-800

x515 “Stella Polare” Sawmill Company, 1000 rouble share, Archangel 1904, no. 009, of only 564 issued, ornate border, red and black, with talon, tiny nick at bottom edge, extremely fine. £900-1,000

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Foreign Companies in Russia

516 Anglo-Russian Cotton Factories Ltd., a group of 243 First Charge debentures of £100, 1897, most handsigned by Evelyn Hubbard or W.C. Hubbard as directors, ornate border, brown with green underprint, with coupons, neatly cancelled by rubber stamp on the reverse, generally very fine and better.

(243) £2,000-2,500

517 Anglo-Russian Cotton Factories Ltd., a group of 314 Second Charge debentures of £100, 1897, most handsigned by Evelyn Hubbard or W.C. Hubbard as director, ornate border, blue with pink underprint, with coupons, neatly cancelled by rubber stamp on the reverse, generally very fine and better. (314) £2,500-3,000

This large company was formed in England to acquire textile factories around Moscow. It lost these factories to the revolutionaries and the subsequent new Government in 1918 but the company remained in existence. When the Foreign Compensation Commission made payment to bondholders and to companies and individuals that lost property during the revolution in Russia this company received considerable funds. Its first duty was to repay debenture holders as these held first charge over all of the company’s assets. This process took many years until no more debenture holders could be found and the company was wound up. All of the bonds here have been repaid and cancelled and are being sold in aid of charity by the company’s agents.

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518 Ateliers de Construction, Forges & Fonderies de Khartsisk (Donetz), pair of certificates for 250 franc share and dividend share, both 1898, attractive architectural border with vignettes of the company’s iron products, brown and green respectively, with coupons, good very fine. (2) £60-80

520 Compagnie Francaise des Mines D’Akhtala (Caucase), founders share, Paris 1887, no. 3270, large format piece with walled city and church at top, ornate border, brown with yellow underprint, with coupons, creased at top right corner, about extremely fine. £60-80

521 Tramways de Kischinew S.A., founders share, Brussels 1912, no. 00371, street scene with electric tramways top centre, ornate border with coats of arms top left and right, mauve and black, text in French, with coupons, almost extremely fine. £60-80

519 Cie Generale Franco-Russe d’Accumulateurs, a pair of certificates for one tenth founders share and one 100 franc share, both Brussels 1898, attractive borders with allegorical female top left with electric light and winged wheel, storage batteries bottom left, green and blue respectively, with coupons, very fine and near extremely fine. (2) £60-80 WWW.spinK.Com

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SOUTH AMERICA & WEST INDIES ARGENTINA

522 Argentine Republic 4% Loan, bond for £20, dated 1900, no. 56421, very large format piece with ornate border, blue and black with pink underprint, text all in English, issued by Baring Brothers & Co., with original coupons from 1940, small ink stain at left, toned overall but about very fine and very rare. £200-300 523 Argentine Republic, 5% Interior Loan, 1909, bond for $100 pesos, no. 142082, large format piece with ornate border, arms at top, green and black, English, French and German on the reverse, printed by Waterlow & Sons, with coupons, very fine. £60-80 524 Argentine Republic, 5% Interior Loan, 1909, bond for $100 pesos, no. 220142, large format piece with ornate border, arms at top, green and black, English, French and German on the reverse, printed by Waterlow & Sons, with coupons, very fine. £60-80

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525 Province of Buenos Aires, 3% Loan, bond for 100 pesos, 3rd series La Plata 1911, no. 30074, ornate piece with Argentine arms at right, black printing with pink underprint, coupons at both sides and below, centre fold but good very fine. £60-80

527 Buenos Aires Port and City Tramways Ltd., Extension First Mortgage bond for £100, 19[12], no.

3015, large format piece with ornate border, redbrown and black, with coupons, extremely fine. £40-50

526 Santa Fé, 7% State Loan, 1874, a specimen £200 bond from the Bradbury, Wilkinson & Co. archive, large format with ornate border, black, green underprint, with coupons, small hole cancels over signature area, extremely fine. £100-120

528 La Canalizadora del Riachuelo S.A., 100 shares of 100 pesos Buenos Aires 18[89], no. 164, large format piece with busy canal scene with factories and smoking chimneys, cherubs below, brown and black, a couple of tone spots, good very fine. £80-100

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BRAZIL

529 United States of Brazil, Western of Minas Railroad Company, 5% Guaranteed Loan of 1893, bond for £1000, a specimen certificate from the Bradbury, Wilkinson & Co. archive, large format piece with ornate border, Brazilian arms at top, red and black, text in English and French, with coupons, nearly extremely fine. £100-120

530 United States of Brazil, 1902, Railway Guarantees Rescission 4% Loan, a specimen bond for £500 from the Bradbury Wilkinson archives, second series, large format, arms at top, blue and black, with coupons, about extremely fine. £100-120

531 Province of Bahia, 5% Loan, 1889, 500 franc bond, Paris 1889, no. 10373, pretty piece with ocean and river scenes around border, arms and foliage at top, black with blue underprint, about extremely fine. £60-80 149

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x533 Bella Raquel Company, share, 184[7], no. 285, signed by John Taylor Junr as secretary, thin ornate border at left, black printing, embossed seal depicting ‘Bella Raquel’ bottom right, transfers on reverse, good very fine. £60-80

532 State of Minas Geraes, 61⁄ 2 % 30-Year external Sterling Loan of 1928, a specimen bond for £1000 from the Bradbury, Wilkinson & Co. archives, large format piece with coat of arms at top, ornate border, blue and black, with coupons, red Bradbury, Wilkinson specimen stamp at bottom, about extremely fine. £100-120

x534 Bella Raquel Company, share, 184[7], no. 1204, signed by John Taylor as director, thin ornate border at left, black printing, embossed seal depicting ‘Bella Raquel’ bottom right, transfers on reverse, good very fine. £60-80

535 San Paulo Brazilian Railway Co. Ltd., one share of £20, £2 paid, 1860, no. 20133, Brazilian arms in centre, black, printed by Waterlow & Sons, extremely fine. £60-80

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CHILE

COLOMBIA

537 Colombian Mining Association, certificate for [20] shares, part paid, 183[1], heavy engine-turned border, black and red, folds with tiny edge nicks, fine to very fine and rare. ÂŁ250-280

536 Republic of Chile, 6% Internal Loan, 1882, a specimen bond for 500 pesos from the American Bank Note Company archive, Chilian arms in centre, ornate border, red and black, with coupons, SPECIMEN over signature areas and small hole cancels, split at folds otherwise good very fine. ÂŁ60-80

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CUBA

538 Banco Territorial de Cuba, dividend share, Havana 1911, a group of 4 certificates numbered 10617 to 10620, arms in centre flanked by Government building to the left and ox wagon to the right, green and black, printed by the American Bank Note Company, with coupons, light fold otherwise about extremely fine. (4) £60-80 539 Cuba Northern Railways Company (Ferrocarriles del Norte de Cuba), 51⁄ 2 % First Mortgage gold loan, 1927, a group of 15 bonds for $1000, attractive pieces with steam engine and engineer flanked by oxen and wagon at left and railway cars being loaded by crane at right, orange and black, with coupons, endorsement on face, mixed condition, some with edge damage but many are very fine. (15) £400-500

539 x541 Empresa del Ferro-Carril de Guantanamo, one share of 100 pesos, Santiago de Cuba 18[82], steam train at top, black, cancelled; together with Mexico North western Railway Co., 5% 50-Year First Mortgage Bond for £100, 1909, steam train at top, blue and black, printed by Waterlow, and, Banco Constructor Oriental, 10 shares of 100 pesos, Montevideo 188[8], ornate border, brown and green, very fine and better. (3) £100-120

540 Cuba Railroad Co., a group of 45 temporary bonds for $1000, all dated 1959, ornate borders, blue and black, endorsement on face, most with Dutch revenue stamps and with papers attached on the reverse, very fine and better. (45) £80-100

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MARTINIQUE

542 Empresa del Ferro-Carril Urbano y Omnibus de la Habana, 500 peso share, 18[76], no. 0541, horse drawn tramcar in centre, black, ink cancelled and single hole cancel unfortunately through the vignette, counterfoil re-attached, tiny chip from bottom edge, the ink has burned very slightly, very fine. £70-90

x544 S.A. des Rhummeries du Mouillage, 500 franc nominative share, Saint-Pierre 188[3], no. 989, of 2000 issued, ornate scrollwork border with vignettes of goods at dockside, industrial scenes and cherubs, black and blue, with coupons, good very fine. £50-60

543 Servicio Maritimo de la Republica Cubana, certificate for $100, New York 18[69], no. 62, sail assisted steamship at top, red, glue residue at left edge, some surface dirt, about very fine and scarce. £100-120

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MEXICO

545 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) £300-400

546 State of San Luis Potosi, 6% Loan, 1889, bond for £100, no. 0603, Mexican eagle at top, ornate border, black, green underprint, with coupons, very fine. £100-200 547 State of San Luis Potosi, 6% Loan, 1889, bond for £100, no. 1278, Mexican eagle at top, ornate border, black, green underprint, with coupons, spike hole top left, small tear at bottom edge, very fine. £100-200

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550

548 State of San Luis Potosi, 6% Loan, 1889, bond for £100, no. 1767, Mexican eagle at top, ornate border, black, green underprint, with coupons, spike hole top left, very fine. £100-200 549 State of San Luis Potosi, 6% Loan, 1889, a pair of bonds for £100, numbers 2276 and 2277, Mexican eagle at top, ornate border, black, green underprint, with coupons, the second with small tear at bottom edge, very fine. (2) £200-400 x550 City of Chihuahua, 5% Loan, 1910, bond for $1000, no. 117, 600 issued, Mexican eagle at top, text in Spanish, English and French, green and black, with coupons, good very fine. £80-100 551 Banco Central Mexicano, 25 shares of $100 pesos, Mexico 1903, no. 2772, allegorical female with eagle, very ornate border, blue and black, with coupons, good very fine. £100-120

551

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bonds and share CertifiCates of the WorLd 552 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. £100-150

554 National Railroad Company of Mexico, First Consolidated Mortgage Gold Bond, $1000, 1902, 2 examples numbered M5712 and M6407, eagle at top left, green and black, with coupons, the latter with cut out of right edge, very fine. (2) £120-150

553 Mexican General Land Mortgage and Investment Co. Ltd., a specimen Second Mortgage debenture, 189-, from the Bradbury, Wilkinson & Co. archive, Mexican eagle at top, horse and bull at either side, ornate border, black with blue underprint, with coupons, about extremely fine. £80-100

554A Compania Minera Borda Antigua y Anexas en Tlalpujahua S.A., a group of 163 certificates for 1 share of 50 pesos, Mexico 1912, ornate border, blue and black, impressed duty stamp, with coupons, almost extremely fine. (163) £200-300 WWW.spinK.Com

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555 Negociacion Minera de San Eligio o la Beneficiadora, a group of certificates for 1 tenth of 100 peso share, 1894, vignette of miner drilling underground at top centre, orange and black, with coupons, generally extremely fine. (117) ÂŁ400-600

556 Real Del Monte Mining Company, certificate for subscription for a half-share, 1829, no. 1254, 4 pages, all installments paid, black, several embossed duty stamps, about very fine and a scarce early piece. ÂŁ200-250 A large British company owning the famous silver mine in the State of Hidalgo employing some 350 Cornishmen.

It was they who apparently introduced football to the country. British capital flowed into many South American countries following their Independence from their Spanish conquerors, some 300 or so companies formed during the 1820’s alone

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NICARAGUA

PERU

x557 Cukra River Planting Company Ltd., £4 share, 1914, no. 05, 651, green and yellow, ornate border with banana leaves, vignette with banana harvesting low centre, with coupons, together with certificates from French Indochine (5) and a group of specimen travellers cheques and certificates from the American Express Company (9) and a letter of credit of the Banco Delle Due Sicilie, 1815, very fine to extremely fine. (16) £60-80

x559 Peruvian Mining Company, one share, London 1825, no. 4581, issued to David Barclay Chapman, Banker, ornate scrollwork at left, black printing, extremely fine. £120-150

PANAMA 560 Peruvian Transport Corporation Ltd., a large group of certificates comprising Class A shares of $5, 10 shares, blue (28), Class B shares of $1, 5 shares, purple, 25 shares, red, 50 shares, silver (11) and 100 shares, orange (313), all dated 1956, all endorsed by the holder on the reverse thus making them bearer, generally very fine and better. (354) £300-400 The Company was incorporated in Canada in 1955 to take over the share capital of the Peruvian Corporation which was registered in London in 1890. It was set up to cancel the country’s external debt and enable the construction of railways. Name changed in 1958 to Peruvian Investment and Finance Ltd. and was dissolved in May 2003.

558 Cie Nouvelle du Canal de Panama, 100 franc share, 1894, no. 359665, attractive piece with large allegorical figures at left and right with steamship and steam train, green with pink underprint, with coupons, very fine and rare. £200-300 WWW.spinK.Com

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POYAIS

562

561 Poyais, General Mortgage Loan of £200,000, £100 special bond, 1823, no. 603, large format, black and blue printing by Whiting with classic scrollwork design at top, coupons at either side, folds with some minor separation and some foxing, about very fine. £120-150 Poyais, Honduras, was given to Gregor MacGregor by the native ruler in 1820 and MacGregor proceeded to try to settle the land by financial enticements. Several loans were floated on the Stock Exchange to raise money for ships and infrastructure but all eventually failed.

562 Poyaisian 3% Consolidated Stock, £1000 bond, 1827, no. 193, handsigned by Gregor MacGregor, coat of arms at top, pink and black, with coupons, split at folds with reinforcement on the reverse, about very fine and rare high denomination. £300-400 563 Poyaisian Land Grant, certificate for 500 acres, class B, London 1834, handsigned by Gregor MacGregor, self styled ‘Cacique of Poyais’, large format, coat of arms at top, text in English and French, folded as usual but good very fine and better than average. £80-100 159

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URUGUAY

564 Uruguay Central & Hygueritas Railway Co. of Monte Video Ltd., ordinary shares, a contemporary pull from the original plate for a Waterlow & Sons specimen book, 18(circa 1890), scrollwork left with early steam train, blue and black, large Waterlow embossed seal, with counterfoil, extremely fine. £60-80

UNITED STATES OF AMERICA 565 A small group of USA and other certificates, comprising American Express Company, unissued certificate for $100 shares, 185-; American Merchants Union Express Company, $100 shares, 186[9], signed

by William Fargo; Confederate $1000 bond with view of Customs House, 1863; State of New York, $1000 bond, 1866; Peoples National Bank of Waterville, 1869; Marconi Wireless Telegraph Company, 1920; Spain, Companhia Hulleras de Ujo-Mieres, 5 shares of 25 pesetas, 1904, two large vignettes of coal miners; Panificadora Popular Madrilena, 100 peseta share, 1916, bakery, machines and allegorical figures, and others (6), generally very fine although the first two are a little stained as usual. (14) £160-180 566 A collection of American Railroad bonds, comprising Brooklyn and Brighton Beach Railroad Company, $1000, 1895; Reading, Lancaster & Southern RR Co., $1000, 1903; Tennessee North Eastern RR Co., $100, 1909; Lake Ontario Shore RR Co., $100 and $500; New York and Oswego Midland RR Co., $500 bonds for 2 different towns; Washington & Old Dominion Railway, $1000, 1911; Valdez, Marshall Pass and Northern RR Co., $1000, 1905; New York & New England RR Co., $1000, 1882; Syracuse Northern RR Co., $100 bonds for 2 different towns, and others (13), minor duplication, many very fine and a very useful lot. (25) £250-300

567 A collection of American Railroad certificates, minor duplication, dated from the 19th century through to the 1960’s, a few unissued, many cancelled, mixed condition but many very fine. (131) £250-300 568 A large group of American certificates (91), mostly railways but including American Merchants Express Co., 1869, signed by William Fargo; an unissued American Express Company certificate, 185-; Oregon Steam navigation Comapny, 1874; American Austin car Company, 1930; Marconi Wireless Telegraph Co. of America, 1913; State of South Carolina, issued $1000 bond, 1869 and 2 Confederate bonds for $100 and $1000, mixed condition but many very fine and better. (91) £300-400 569 A large group of American Railroad certificates (133), some unissued and some duplication, dated from the 1850’s through to the 1950’s, mixed condition but many are very fine and better. (133) £300-400

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June 7, 2013 - London 569A A large collection of American Railroad and other certificates, including American Merchants Union Express Co., 1869, signed by William Fargo (2 examples), many are 19th century with some unissued and some minor duplication but a generally interesting and varied lot, generally fine to very fine with many, expecially the uissued pieces, extremely fine. (212) £800-1,000

Confederate States 571 A group of 28 Confederate bonds, comprising Ball reference numbers 1, 2, 3, 4, 9, 87, 117, 124, 132, 165, 192, 201, 212, 221, 260, 265, 296, 303, 304, 309, 312, 313, 317, 323, 325, 327, 329 and 330, all with coupons, generally in very fine condition. (28) £400-600

x570 A good collection of British and British financed Companies operating in the United States, mostly mining and comprising Anglo-American Supply Stores Ltd., 1919; Anglo-Californian Gold Mining Company, 1852 and 1853; Appalachian Ltd., 1889; California Redwood Co., Ltd., preference shares, 1884 and ordinary shares, 1885; Consolidated Mining Co. Ltd., 1879; Davenport Mining Co. Ltd., 1874; De Lamar Co. Ltd., 1901; Eberhardt Co. Ltd., 1881; Exchequer Gold & Silver Mining Co. Ltd., 1880; Flagstaff District Silver Mining Co. Ltd., 1881; Fryer Hill Silver Mining Co. Ltd., 1887; Gold Co., 1875; Golden Gate of California Ltd., 1894 and 1898; Holcomb Valley Co. Ltd., 1896; Isabelle Gold & Silver Mining Co. Ltd., 1882; IXL Gold & Silver Mining Co. Ltd., 1874; Jumper Gold Syndicate California Ltd., 1900; Le Nouveau Monde, 1851 (2 signature varieties); Liberty Mining Co., 1852; London & Silverton Mining Co. Ltd., 1883; Lucky Guss Ltd., 1898; Magalia Consolidated Gold Mines Ltd., 1898; Mammoth-Collins Gold Mines Ltd., 1896; New Consolidated Mining Co. Ltd., 1886; New Gold Hill Co. Ltd., 1889; New Russell Gold Mining Co. Ltd., 1891; Nouveau Monde Gold Mining Co. Ltd., 1887; Pittsburgh Consolidated Gold Mines Ltd., 1888; Saturn Silver Mining Company of Utah Ltd., 1871; Silverton Mines Ltd., 1887; Star of Nevada Silver Mining Co. Ltd., 1872; Tecoma Silver Mining Co. Ltd., 1880 and Tuolumne Gold Mining Co. Ltd., 1870, many scarce pieces, mixed condition but mostly fine to very fine, some better. (36) £400-500

572 Confederate States of America, Act of February 20th 1863, 7% Loan, bond for $1000, 1863, vignette of ‘Stonewall’ Jackson, black on pink paper, with red 3 line depositary overprint on face and signed by Edward Cross on the reverse, with coupons (Ball 248/252, number not conforming to data), very fine. £60-80 573 Confederate States of America, Act of February 20th 1863, a group of 8 bonds for $1000, redeemable 1st July 1868, vignette of General ‘Stonewall’ Jackson in centre, black on pink paper, with coupons, all folded but about very fine. (8) £150-180

574 Confederate States of America, Act of February 17th, 1864, 4% Loan, bond ‘Call certificate’ for $100,000, no. 196, small format piece printed in black on pink paper (Ball 353), very fine and rare high denomination. £200-300 161

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bonds and share CertifiCates of the WorLd

Railroads

575 Burlington, Cedar Rapids and Northern Railway Co. of Iowa, a large group of certificates for 100 shares of $100 each, 187[dated 1880 to 1885] (86) and 18[dated 1895 and 1896] (55), allegorical female with beehive and agricultural implements, eagle at bottom, brown and black, glue residue at left and hole cancelled, otherwise mostly extremely fine. (141) £300-400

577

576 Gigante Mountain Tunnel & Railway Co. (AZ), certificates no’s 86 and 88 each for 50,000 shares, 191[1], miners at work underground, green and black, gold seal; together with some interesting paperwork relating to the company and two prospectuses of the Intercontinental Railway Syndicate, which also held railway concessions in Mexico, very fine. (5) £60-80 577 Missouri, Oklahoma and Gulf Railway Co., a pair of First Mortgage 5% bonds for $100, 1904, both of different design, numbered 35 and 31100, both with steam engine at top, green and black, with coupons, one design is recorded in Cox, the other not and the cataloguer is unable to explain why two different designs were issued, good very fine and better. (2) £60-80

578 Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Co., a good group of certificates for 10,000 shares, 19[23]- 1926[6], blue (6); 5000 shares, 19[24], mauve (1); 100 shares, 19[23] - 19[27]. green (17), two varieties of registrar included, and, ‘less than 100 shares’, 19[27] - 19[54], orange (41), also two varieties of registrar, all same design with steam train at right, hole cancelled, very fine to extremely fine. (65) £80-100

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June 7, 2013 - London

Mining, Commercial & Industrial

581 Alaska United Gold Mining Company, certificate for 5 shares of $5, 1895, no. 654, miners at work lower centre, ornate border, green and black, with coupons, British impressed revenue stamp, good very fine. £60-80 579 Richmond, Nicholasville, Irvine and Beattyville Railroad Co., Kentucky, First Mortgage 6% Gold bond for $1000, 1889, no. 2153, attractive piece by the Franklin Bank Note Co. with steam train at top, green and black, with coupons, NOT cancelled, trifolded but about extremely fine. £60-80

582 Albion Gold Mining Company, 50 shares of £1, on the Cost Book system, [1853], no. 57, scrollwork at left, black printing, on linen, embossed seal depicting a bear, very minor toning, about extremely fine. £60-80

580 Toledo, Peoria & Warsaw Railway Co., 7% First Mortgage bond, Burlington Division, $1000, 1871, no. 55, large format piece with steam train crossing bridge, black, green $1000 in underprint, $1 imprinted revenue stamp in orange-brown, red overprint, with coupons, a little toned, slightly brittle with some chipping at top left corner, very fine. £80-100 163

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bonds and share CertifiCates of the WorLd 586 North American mining certificates comprising, Wild Horse Gold Mining Co. (British Columbia), $1 shares, 1[897]; Anglo-Californian Gold Mining Co., 185[2]; England’s Premier Cobalt Mining Co. Ltd., 1907; Tonopah Divide Mining Co., 1923; New Tonopah Dividend Mining Co., 1925 and North Butte Mining Co., 1916, the last three are cancelled, generally very fine and better. (6) £50-60

583 The Coca-Cola Company, certificate of purchase of class ‘A’ stock, January 1929, no. 5619, ornate border, blue and black, small hole cancels over signatures, about extremely fine. £80-100

587 Philadephia and Lancaster Turnpike Road, certificate no. 809 for one share, 179[7] (probably an error and should read 1795 signed by William Bingham as President, vignette of wagon and horses approaching toll gate, black printing, on vellum, transfers on reverse to 1899, tri-folded as usual, good very fine. £300-400 584 Florida Cocoanut Plantation Co., $5 shares, Portland 18[87], no. 59, vignette of Florida coastline with palm trees, ornate border, black on blue paper, good very fine. £60-80 585 Harney Peak Consolidated Tin Co. Ltd., £20 shares, 189[0], no. 54, signed by Edward BaringGould as director and issued to Hebry Riversdale Grenfell, blue, together with 3 different certificates of Morgan Grenfell & Co. Ltd., 2 of which are signed by E.C. Grenfell, another member of the well known banking family, all with ornate borders, all are toned from prior framing, the last 3 with filing holes at top, very fine. (4) £80-100 588 Philadephia and Lancaster Turnpike Road, certificate no. 808 for one share, 179[5], signed by William Bingham as President, vignette of wagon and horses approaching toll gate, black printing, on vellum, transfers on reverse to 1899, tri-folded as usual, good very fine. £300-400 WWW.spinK.Com

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June 7, 2013 - London

589 Philadephia and Lancaster Turnpike Road, certificate no. 868 for one share, 179[5], signed by William Bingham as President, vignette of wagon and horses approaching toll gate, black printing, on vellum, transfers on reverse to 1899, vellum a little uneven thickness, tri-folded as usual, good very fine. £300-400

591 Philadelphia and Lancaster Turnpike Road, one share, Philadelphia 179[6], no. 1155, signed by Israel Whelen as President, wagon and horses approach toll house and gates, black printing on vellum, embossed seal, lightly toned, 2 folds as usual, very fine. £300-400

590 Philadephia and Lancaster Turnpike Road, certificate no. 984 for one share, 179[5], signed by William Bingham as President, vignette of wagon and horses approaching toll gate, black printing, on vellum, transfers on reverse to 1899, tri-folded as usual, good very fine. £300-400

592 Powder River Cattle Co. Ltd., £5 ordinary shares, 188[2], number 94, signed by Lord Manchester as Director, black and red, embossed seal, printed by Waterlow Brothers & Layton, creased, about very fine. £60-80

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bonds and share CertifiCates of the WorLd

593 Santa Ana Mining Company (AZ), $100 founders share, 1[898], no. 1161, lovely multicoloured coat of arms with flags of the United States and Mexico, black with yellow underprint, gold seal, extremely fine. £60-80

594 Southern Inland Navigation & Improvement Company, Florida, First Mortgage Land Grant Convertible Construction Bond, $1000 or £200, 1871, no. 89, large format piece with vignette of paddle steamer on river, ornate border, black and blue, blue seal, with coupons, good very fine and scarce. £150-180

THE END OF THE SALE

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69 Southampton Row, Bloomsbury, London WC1B 4ET tel: +44 (0)20 7563 4034 fax: +44 (0)20 7563 4037 email: auctionteam@spink.com

name ______________________________________________________

BONDS AND SHARE CERTIFICATES OF THE WORLD INCLUDING THE “LONDON” COLLECTION OF CHINA

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 ___________________________________________________

7 JUNE 2013

JUST VISIT WWW.SPINK.COM TO REGISTER

LONDON

saLe titLe

date

Code name

saLe no.

Bonds and Share Certificates of the World

Friday 7 June 2013 at 10.00 a.m.

TREASURY

13016

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 will be the sum of the final bid and buyer’s premium as a percentage of the final bid as well as 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.

BIDDERS PLEASE NOTE OUR EXTENSION CLAUSES IN OUR TERMS AND CONDITIONS FOR BUYERS 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.

Friday 7 June 2013 at 10.00 a.m.

13016

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 price and the buyer’s 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 price and 20% on the buyer’s premium). vat on margin scheme lots (identified by the absence of any vat symbol next to the lot number) is payable at 20% on the buyer’s 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:

Thursday 29 November 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 3 4 5 6 7 8 9 10 11 12 13 14 15 16 18 19 21 22 23 24 25 27 28 30 32 33 35 36 37 38 39 40 41 44 45 46 47 48 49 50

Price £150 £140 £160 £110 £220 £240 £250 £350 £210 £160 £160 £180 £100 £110 £60 £70 £110 £130 £120 £80 £120 £60 £120 £100 £80 £40 £50 £40 £120 £130 £140 £130 £80 £120 £80 £200 £110 £65 £65 £45 £70 £70

Lot 53 54 55 56 57 58 59 60 61 63 65 68 69 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101

Price £200 £90 £100 £180 £100 £260 £1,600 £500 £800 £380 £200 £150 £520 £300 £650 £100 £120 £120 £90 £800 £850 £260 £110 £270 £120 £100 £210 £200 £110 £60 £140 £90 £140 £290 £100 £1,200 £800 £180 £550 £190 £290 £700

Lot 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 122 123 124 125 126 127 127A 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143

Price £450 £2,200 £200 £160 £230 £240 £260 £280 £600 £1,200 £1,300 £1,300 £1,100 £1,300 £950 £600 £1,700 £1,600 £1,600 £3,500 £160 £200 £500 £850 £600 £520 £320 £100 £750 £1,300 £2,600 £190 £270 £3,500 £110 £380 £400 £650 £1,200 £260 £1,550 £1,600

Lot 144 145 146 147 148 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186

Price £220 £260 £270 £1,600 £220 £110 £185 £350 £550 £350 £350 £800 £1,300 £70 £420 £220 £50 £70 £110 £180 £500 £260 £500 £140 £120 £120 £170 £700 £210 £210 £160 £300 £420 £50 £450 £90 £110 £290 £110 £130 £100 £120

Lot 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 204 205 206 207 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230

Price £100 £100 £120 £150 £160 £110 £130 £130 £350 £130 £110 £90 £90 £550 £80 £210 £240 £190 £1,000 £100 £120 £90 £110 £140 £180 £110 £90 £110 £110 £500 £500 £210 £120 £200 £190 £120 £280 £80 £260 £140 £150 £80

Lot 231 233 234 235 237 238 239 240 241 242 243 244 246 247 248 249 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 270 271 272 273 274 275 277 280 285

Price £80 £210 £90 £90 £90 £120 £250 £150 £160 £160 £250 £70 £170 £100 £70 £160 £60 £450 £150 £150 £260 £160 £40 £140 £160 £70 £80 £80 £160 £300 £60 £210 £140 £120 £160 £150 £160 £80 £210 £350 £80 £160

Lot 286 288 289 292 295 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 314 315 316 319 322 323 324 326 327 328 329 330 331 332 335 336 337 338 339 340 341

Price £120 £450 £350 £60 £40 £70 £130 £60 £100 £120 £40 £60 £140 £90 £80 £100 £100 £80 £70 £70 £60 £50 £400 £130 £130 £80 £350 £300 £230 £70 £120 £170 £300 £40 £60 £60 £50 £80 £70 £50 £450 £40

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Lot 342 344 345 346 349 350 356 357 358 361 362 366 367 368 371 372 373 374 375 377 379 380 381 382 383 384 385 386 387 388 390 391 392 393 394 395 396 397 398 399 400 401 402 403 406 409 410

Price £70 £280 £130 £100 £100 £40 £480 £580 £550 £60 £70 £60 £120 £130 £200 £70 £80 £600 £350 £270 £180 £90 £1,200 £180 £120 £120 £60 £650 £60 £70 £70 £250 £90 £80 £200 £230 £110 £90 £90 £80 £100 £80 £80 £80 £100 £60 £60

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Lot 411 413 420 421 422 423 428 430 431 433 435 436 437 440 441 442 443 445 448 450 459 460 462 463 464 465 467 468 469 471 472 473 474 475 476 477 478 479 481 483 485 486 487 488 489 490 491

10:19

Price £110 £60 £100 £40 £50 £60 £150 £80 £80 £160 £200 £130 £250 £170 £70 £650 £2,600 £80 £130 £50 £320 £70 £7,000 £140 £120 £300 £100 £100 £60 £100 £50 £160 £160 £1,000 £250 £580 £200 £60 £320 £180 £80 £150 £50 £90 £50 £300 £40

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Lot 492 493 496 497 498 499 500 501 502 503 504 506 507 508 509 510 511 512 513 514 515 516 517 520 521 522 528 529 531 532 535 536 537 538 539 540 545 546 547 548 552 553 555 556 557 558 561

Price £80 £350 £60 £70 £90 £40 £100 £140 £320 £70 £850 £40 £90 £90 £90 £100 £90 £1,000 £260 £450 £80 £160 £90 £200 £150 £200 £90 £120 £120 £230 £320 £40 £60 £60 £110 £60 £100 £150 £40 £150 £40 £70 £320 £40 £200 £60 £60

Lot 562 563 568 569 570 571 572 573 575 576 577 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 602 603 604 605 606 607 608 609 611 612 613 614 615 616 617

Price £270 £60 £200 £300 £2,600 £70 £40 £60 £60 £80 £50 £100 £500 £80 £80 £100 £90 £40 £70 £180 £700 £400 £270 £190 £90 £210 £280 £60 £420 £140 £450 £120 £60 £150 £100 £120 £70 £140 £60 £120 £80 £150 £100 £90 £220 £70 £100

Lot 618 621 622 623 624 625 626 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 652 653 654 655 656 659 661 663 664 665 666 667 668 670 673 674 675

Price £120 £950 £200 £380 £150 £160 £40 £40 £150 £230 £130 £500 £40 £900 £170 £70 £70 £1,000 £100 £80 £70 £90 £60 £150 £70 £50 £380 £520 £60 £60 £550 £270 £800 £200 £120 £70 £70 £60 £250 £70 £110 £80 £420 £80 £80 £60 £60

Lot 676 678 679 680 681 682 683 684 685 686 687 688 690 691 692 693 694 695 696 697 699 700 701 702 703 704 705 706 707 708 709 710 711 712 714 715 716 717 718 719 720 721 723 724 725 726 728

Price £40 £160 £180 £240 £70 £90 £250 £270 £350 £500 £450 £120 £120 £200 £110 £140 £60 £60 £100 £80 £90 £80 £100 £380 £230 £100 £150 £150 £140 £180 £40 £140 £120 £130 £120 £150 £210 £600 £100 £100 £400 £500 £40 £110 £50 £100 £200

Lot 729 730 731 733 734 735 737 738 739 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 766 767 771 773 774 776 777 779 781 783 785 787 788 789 793 796 797 798 804 805

Price £150 £450 £160 £220 £300 £80 £950 £100 £50 £210 £90 £160 £200 £90 £150 £60 £80 £100 £140 £130 £190 £270 £220 £100 £130 £60 £40 £100 £150 £480 £400 £70 £80 £500 £100 £70 £80 £70 £480 £800 £40 £70 £120 £110

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BONDS & SHARES NOW TAKING CONSIGNMENTS

OUR UPCOMING AUCTIONS 28-29 AUGUST 2013 | NEW YORK AUTUMN 2013 | HONG KONG 19 OCTOBER 2013 | LUGANO NOVEMBER 2013 | LONDON LONDON | NEW YORK | HONG KONG SINGAPORE | LUGANO

For more information please contact Mike Veissid: Tel: +44 (0)20 7563 4075 Fax: +44 (0)20 7563 4066 Email: mveissid@spink.com 69 Southampton Row, Bloomsbury, London WC1B 4ET WWW.SPINK.COM

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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) VAT is chargeable on the Hammer price and the Buyer’s 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 price and 20% on the Buyer’s premium). VAT on Margin scheme lots (identified by the absence of any VAT symbol next to the lot number) is payable at 20% on the Buyer’s premium only.

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 on Buyer’s Premium may be refunded.

5.3.7 Where the Lot is marked as a Daggered (†) or Investment Gold (g) Lot the VAT charged on the Hammer Price may be 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.

5.8.3 If the Buyer requires delivery of the Lot to an address other than the invoice address this will be carried out at the discretion of Spink.

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;

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5.10.1.2 to set off against any amounts which the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.10.1.3 we may keep hold of all or some of your Lots or other property in the possession of the Spink Group until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property.

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

Up to £10,000

£20

£30

£40

Above £10,001

£20

£50

£60

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 VAT 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 will be added to 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 plus 20% on the Buyer’s premium. 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 2013

YOUR SPECIALISTS STAMPS UK - Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith USA - George Eveleth Arthur Poudrier Rex Bishop EUROPE - Guido Craveri Fernando Martínez CHINA - Anna Lee COINS UK - Mike Veissid Paul Dawson Richard Bishop William MacKay Eleanor Charlotte Dix Tim Robson Barbara Mears John Pett USA - Stephen Goldsmith Greg Cole Normand Pepin CHINA - Mark Li BANKNOTES, BONDS & SHARES UK - Barnaby Faull Mike Veissid Andrew Pattison USA - Stephen Goldsmith CHINA - Mark Li ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys BOOKS

STAMPS 21 May 5 June 28 June 10/11 July 15/16 August 10 September 11 September 21 September 21/22 September

The Award Winning “Medina” Collection of India, Part II Great Britain Stamps and Postal History The “Fordwater” Collection of Canada and BNA Colonies The Collector’s Series Sale The Collector’s Series Sale The Award Winning “Medina” Collection of India and States, Part III The Award Winning “Medina” Collection of Great Britain The Japanese Occupation Issues of South East Asia Stamps and Covers of South East Asia

London London New York London New York London London Singapore Singapore

13025 13026 143 13027 144 13028 13029 13038 13030

The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals Tibetan Coins from the Nick Rhodes Collection The Collector’s Series Sale North East Indian Coins from the Nick Rhodes Collection Ancient, British & Foreign Coins and Commemorative Medals Ancient, British & Foreign Coins and Commemorative Medals

New York London Hong Kong New York London London London

316 13013 13020 317 13019 13014 13015

The Collector’s Series Sale The David Kirch Collection of English Provincial Banknotes Part IV: The North of England The Collector’s Series Sale World Banknotes The Ibrahim Salem Collection of African Banknotes World Banknotes

New York London New York London London London

316 13035 317 13018 13037 13034

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

London London

13002 13003

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

New York London New York London

316 13016 317 13017

The Collector’s Series Sale The Collector’s Series Sale

New York New York

316 317

An Evening of Exceptional Wines An Evening of Exceptional Wines

Hong Kong Singapore

COINS 22/23 May 27 June 21 August 28/29 August 24 September 27 September 3 December

UK - Philip Skingley Annie Beadle AUTOGRAPHS USA - Stephen Goldsmith WINES CHINA - Anna Lee Guillaume Willk-Fabia YOUR EUROPE TEAM (LONDON - LUGANO)

BANKNOTES 22/23 May 17 July 28/29 August 1/2 October 3 October 5 December

Chairman’s Office Monica Kruber Charles Blane Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Eleanor Ball Luca Borgo Rita Ariete Sarah Schmitz John Winchcombe Harry Gladwin María Martínez Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Alison Kinnaird Billy Tumelty Claire Greenhill IT & Administration Berdia Qamarauli Attila Gyanyi Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi

MEDALS 25 July 21 November

BONDS AND SHARES 22/23 May 7 June 28/29 August 28 November

YOUR AMERICA TEAM (NEW YORK) Chairman Emeritus John Herzog Auction Administration and Marketing & Design Sonia Alves Luke Mitchell

AUTOGRAPHS 22/23 May 28/29 August

Finance & Administration Sam Qureshi WINES

Auctioneer Stephen Goldsmith

June September

YOUR ASIA TEAM (HONG KONG - SINGAPORE) Vice Chairman Anna Lee Administration Amy Yung 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 –

SFW03

13016 Cover:Layout 1

9/5/13

11:17

Page 1

£25

BONDS AND SHARE CERTIFICATES OF THE WORLD R

INCLUDING THE “LONDON” COLLECTION OF CHINA

BONDS & SHARE CERTIFICATES OF THE WORLD

R 7 JUNE 2013

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

LONDON

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STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

7 JUNE 2013

LONDON