Bonds & Share Certificates of the World

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£25 SPINK LONDON

B O N D S A N D S H A R E C E RT I F I C AT E S O F T H E W O R L D

69 Southampton Row © Copyright 2011

Bloomsbury www.spink.com

London WC1B 4ET

16 November 2011 • London

STAMPS BANKNOTES MEDALS COINS BONDS & SHARES AUTOGRAPHS BOOKS

Bonds and Share Certificates of the World

16 November 2011 • London

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Group Chairman and CEO Olivier D. Stocker

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

Your Specialists Stamps Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano USA - Chris Anderson George Eveleth Andrew Titley Ed Robinson EUROPE - Guido Craveri Fernando Martinez Coins Julie-Morgane Lecoindre Richard Bishop William MacKay Arthur Bryant John Pett George Champ USA - Stephen Goldsmith Matthew Orsini Normand Pepin Banknotes, Bonds & Shares UK - Barnaby Faull Mike Veissid Francesca Girelli Andrew Pattison USA - Stephen Goldsmith Matthew Orsini Orders, Decorations, Medals & Militaria UK - Mark Quayle Oliver Pepys Books UK - Philip Skingley Alex Smith Autographs USA - Robert Litzenberger

UK - Tim Hirsch

UK - Paul Dawson

Your Europe Team Chairman’s Office Dennis Muriu Monica Kruber Directors Tim Hirsch Anthony Spink Auction & Client Management Team Emily Johnston Miroslava Adusei-Poku Luca Borgo Phillipa Brown Finance Alison Bennet Marco Fiori Mina Bhagat Alison Kinnaird Shyam Padhiar Billy Tumelty IT & Administration Berdia Qamarauli Maria Martinez Liz Cones Curlene Spencer John Winchcombe Your America Team Chairman Emeritus John Herzog Head of Numismatic Stephen Goldsmith Finance & Operations Manager Sam Qureshi Auction Administration Rick Penko Patricia Gardner Marketing & Design James McGuire Emily Cowin Clyde Townsend Finance & Administration Ingrid Qureshi Marcy Gottberg Ed Robinson Auctioneer Tracy Shreve Your Asia Team Gary Tan

AUCTION CALENDAR 2011/2012 Stamps 18 October 18 October 19 October 19 October 19 October 9 November 9/10/11 November 18/19 November 29 November 6 December

London London London London London London London New York London

11037 11042 11043 11044 11045 11041 11033 137 11034

15 January 26 January 23/24 February 16/17 March

Pearls of Arabia - Algeria, Tunisia and Morocco Pearls of Arabia - Egypt Pearls of Arabia Pearls of Arabia - Palestine Pearls of Arabia - Saudi Arabia The “Fordwater” Collection of Mint Australian Commonwealth Autumn Collector’s Series Sale The Collector’s Series Sale The “Agathon” Collection of the First Issue of Russia The Chartwell Collection - Great Britain King Edward VII Essays, Proofs and Issued Stamps Fine Stamps and Covers of Hong Kong and China The Winter Collector’s Series The Collector’s Series Sale The “Tito” Collection of South American Philatelic Rarieties

London Hong Kong London New York Lugano

11035 12005 12001

Banknotes 15/16 November 8 December 14 January

The Collector’s Series Sale World Banknotes Banknotes of Hong Kong and China

New York London Hong Kong

311 11020 12006

Bonds and Shares 15/16 November 16 November 14 January

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

New York London Hong Kong

311 11022 12007

Coins 15/16 November 13 December 14 January

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

New York London Hong Kong

311 11024 12008

Medals 24 November 19 April

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

London London

11011 12002

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

We insist that our printers source all paper used in the production of Spink catalogues from FSC registered suppliers (for further information on the FSC standard please visit fsc.org) and use inks containing non hazardous ingredients. Spink recycle all ecological material used on our premises and we would encourage you to recycle your catalogue once you have finished with it.

Spink offers the following services Valuations for insurance and probate for individual items or whole collections.

Sales on a commission basis either of individual pieces or whole collections.

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Bonds and Share Certificates of the World Wednesday 16 November 2011 at 10.00 a.m.

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

In sending commission bids or making enquiries, this sale should be referred to as MATADOR - 11022

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

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Purchase a catalogue: Please telephone 020 7563 4080 or fax 020 7563 4085 or e-mail catalogues@spink.com for details.

Viewing at 69 Southampton Row: Tuesday 15 November 2011 and during the sale

YOUR SPINK TEAM

10.00 a.m.- 5.00 p.m.

FOR THIS SALE

For your questions about the sale lots: Mike Veissid +44 (0)20 7563 4075 / mveissid@spink.com For your bids: Miroslava Adusei-Poku +44 (0)20 7563 4020 Fax: +44 (0)20 7563 4037 auctionteam@spink.com For your internet bidding: Berdia Qamarauli +44 (0)20 7563 4089 / bqamarauli@spink.com For your payment: Shyam Padhiar +44 (0)20 7563 4023 / spadhiar@spink.com For your VAT enquiries: John Winchcombe +44 (0)20 7563 4101 / jwinchcombe@spink.com

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Spink is pleased to be entering its fifth year using Spink Live, the internet bidding service which has revolutionized the way in which our clients bid at auction. If you have not already had the opportunity to try this state-of-the-art bidding tool feel free to contact us today for personal assistance in getting started. We are very proud of how the programme has developed over the years and are looking forward to a record breaking year in 2011. For more information contact Berdia Qamarauli today Tel: +44 (0)20 7563 4089 Email: bqamarauli@spink.com

Front Cover Illustration: 328 Back Cover Illustrations: 168, 449

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Bonds and Share Certificates of the World

INDEX BY COUNTRY AFRICA British East Africa British Central Africa South Africa French Colonial Africa French West Africa OTTOMAN EMPIRE, EGYPT AND MIDDLE EAST Ottoman Empire Egypt Ethiopia Tunisia ASIA China and Hong Kong: Foreign Loans Internal Loans Railways Shipping Roads and Buses Banks Insurance Companies Land and Investment Mining Companies Public Utilities Commercial and Industrial India, Burma and Ceylon Japan Netherlands Indies AUSTRALASIA Australia New Zealand CANADA EUROPE Miscellaneous Lots Belgium Bulgaria Croatia Czechoslovakia Finland France Germany Greece Hungary Italy Lithuania Norway Portugal Roumania Serbia Spain Sweden Switzerland Yugoslavia www.spink.com

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1A 2A 3 - 10A 11A 12 - 13A

14 - 17A 18 - 30A 31A 32A

33 155 166 170 174 177 187 189 196 200 210 226 – 255 -

154A 165A 169A 173A 176A 186A 188A 195A 199A 209A 225A 254A 258A 259A

260 - 293A 294 - 296A 297 - 317A 318 320 329 333 336 338 340 357 369 372 375 377

-

319A 328A 332A 335A 337A 339A 356A 368A 371A 374A 376A 379A 380A 381 - 394A 395 - 396A 397A 398 - 409A 410A 410A 411A

GREAT BRITAIN AND IRELAND Government Loans 412 Canals 414 Railways 423 Tramways and Cabs 447 Shipping Companies 455 Aviation 472 Motor Cars and Cycles 475 Piers, Docks and Harbours 484 Banks, Insurance and Finance Companies 486 Mining and Quarrying 498 Gas and Water Companies 522 Telephone and Telegraph 529 Hotels and Breweries 532 Sport and Recreation 538 Printing and Publishing 552 Commercial and Industrial 557 LATIN AMERICA Argentina Bolivia Brazil Chile Colombia Cuba Dominican Republic Ecuador Haiti Mexico New Granada Paraguay Peru Poyais Uruguay

-

413 422 446 454 471 474 483 485

-

497 521 528 531 537 551 556 577

578 - 580 581 582 -589 590 - 595 596 - 597 598 - 603 604 605 606 607 - 632 633 634 635 636 637 - 638

WEST INDIES Barbados

639

RUSSIA Miscellaneous Lots State Loans City Loans Railways Foreign Companies

640 643 647 652 657

-

642 646 651 656 667

UNITED STATES OF AMERICA Miscellaneous Lots Confederate States State Loans Railroads Motor Cars Mining Companies Express Companies Commercial and Industrial British Companies

668 670 676 692 697 700 705 708 711

-

669 675 691 696 699 704 707 710 721

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November 16, 2011 - London

THEMATIC INDEX Agriculture 328, 334, 339, 387, 612 Aviation 403, 472-474 Banking 18, 21, 22, 27, 28, 31, 32, 36-50, 63-66, 167-186, 184-186, 226, 258, 263-266, 330, 333, 335, 338, 341, 342, 369, 372, 378, 379, 383, 396, 397, 400, 486-490, 493, 494, 619-628, 676-679, 681-690, 708 Breweries 356, 359, 386, 533, 716, Bridges 351 Building 394 Buses 174, 176 Canals 414-422 Cemeteries 565 Chemicals 214, 215 Cinema 250 City Loans 175, 255, 256, 358, 377, 585, 611, 647, 648, 649-651, 715 Coal 246, 302, 303 Coffee 238, 399 Colonial Trade 2, 3, 9, 11-13, 19, 230, 259 Cotton 381, 631 Cycles 476, 481, 483 Diamonds 8 Docks & Wharves 484, 485 Electricity 169, 205-207, 228, 269, 318, 362, 399 Explosives/Nitrate 563, 574, 575 Finance 241 Food & Drink 210, 221, 245, 313, 314, 537, 566, 573, 577 Gas 526-528 Government 25, 26, 33, 35, 55, 56, 92-156, 159, 160, 162, 165, 231, 261, 262, 267, 322, 325, 326, 332, 357, 382, 401, 412, 413, 578, 579, 582, 584, 590-593, 596, 598, 604-609, 636, 640, 643-646, 670-675, 680, 691, 719-721 Hotels 226, 228, 247, 343, 532, 567-569 Insurance 187, 188, 242, 257, 376, 402, 486, 487, 495-497, 638 Investement 192-195 Iron 324, 336, 561, 562

Land

23, 189-195, 243, 304, 305, 312, 360, 632, 633 Loan and Mortgage 7, 662, 663, 712 Leisure 211, 327, 348, 349, 388-391, 538, 540, 541, 544, 545 Manure/Phosphates 384 Military 33, 157, 158, 161, 163, 164, 297, 321, 668 Mining 1, 4, 5, 10, 16, 196-199, 226, 252, 260, 268, 270, 271, 272-293, 307-311, 315-317, 368, 398, 408, 498-521, 557, 589, 597, 602, 603, 666, 669, 700-704, 706, 707, 713, 714, 717-719 Motor Cars 347, 354, 399, 404, 454, 475, 477-480, 482, 695-699 Music 340 Oil 14, 220, 226, 253, 308, 355, 657, 660, 661, 664, 667, 669 Paper 15, 380 Printing 217, 552 Public Utilities 200-209 Publishing 350, 352, 553, 554, 555, 556, 693 Railways 17, 24, 33, 34, 51, 53, 54, 57-62, 67-91, 166-176, 226, 248, 294, 295, 298-306, 371, 400, 405-407, 409, 423-454, 534-536, 580, 581, 583, 586, 594, 595, 599-601, 610, 613-618, 634, 634, 635, 639, 641, 642, 652-656, 666, 692, 694, 710 Rubber 226 Shipping 171, 172, 173, 229, 346, 364-367, 392, 400, 417, 455-474, 587, 705 Sport 539, 542, 543 Telegraph 529, 530 Telephone 208, 531 Textiles 216, 218, 227, 323, 370 Theatre 213, 329, 546, 551 Tobacco 219, 228 Tramways 6, 168, 344, 447-453 Waterworks 200-204, 375, 381, 523-525 Wood 331, 380, 560

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November 16, 2011 - London

WEDNESDAY 16 NOVEMBER 2011 Commencing at 10.00 a.m.

All Sales are subject to the Conditions of Business printed at the back of this catalogue Estimates The estimated selling price of each lot is printed below the lot description and does not include the Buyer’s Premium.

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

They are subject to revision.

Notes on Cataloguing Dates in the catalogue are shown thus – 18[95] – where the 18 is printed and the numbers in brackets are inserted by hand.

Serial numers of lots are shown in most cases

AFRICA BRITISH EAST AFRICA

BRITISH CENTRAL AFRICA 2 British Central Africa Company Ltd., a specimen certificate for 10/- shares, 19-, from the Bradbury, Wilkinson & Co. archives, annotation on the counterfoil for 1924, coat of arms in centre, ornate border, green with pink underprint, with counterfoil, perforated SPECIMEN, extremely fine. £60-80

SOUTH AFRICA

1 Tanganyika Goldfields Ltd., a group of bearer warrants for 100 shares (13) and 50 shares (2), 19[28], ornate borders, orange and blue respectively, text in English and French, with coupons, very fine to about extremely fine. (15) £100-120

3 British South Africa Company, a pair of specimen mortgage debentures for £500 and £1000, from the Bradbury, Wilkinson & Co. archive, undated but circa 1890, E0000 and F0000, ornate borders with steam train, natives, wagons and coat of arms, underprint of river scene with elephant and ostriches, green and black, with coupons, extremely fine. (2) £120-150

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Bonds and Share Certificates of the World 4 Doornkop Gold Mining Company Ltd., Cape of Good Hope, a group of certificates for £1 shares, 189[5], all issued to Henry B Rhodes of Carlisle, black, ‘valueless’ in pencil across face otherwise very fine.

(9) £100-150 5 Great Sheba Gold Mine Ltd., bearer warrant for one share of £1, 18[89], no.2060, black, with coupons; together with other British Companies operating in Southern Africa including Swazi Goldfields Ltd., 189[0]; Exploration Co. Ltd., unissued bearer warrant for 5 shares, 190-, attractive piece with allegorical figures; Madagascar Rubber Co. Ltd., 2 types, both 1910, and one other, generally very fine and better. (6) £60-80

8 Orion Diamond Mining Co. Ltd., a specimen certificate for one £10 share, 18- (circa 1882), small vignette in centre, blue, overprinted SPECIMEN/ W.W.SPRAGUE & CO. in red but the printers imprint is Waterlow & Sons Ltd., with coupons, overall discolouration, very fine. £60-80 9 South West Africa Co. Ltd., a group of 3 specimen certificates from the Bradbury, Wilkinson & Co. archive, comprising registered ordinary shares, undated but circa 1910; 50 shares to bearer (2), both identical design with ornate borders, text in English and German, but one printed in blue and the other green, the blue annotated 1911, the green undated, with coupons, the first with centre fold otherwise about extremely fine. (3) £100-150

6 Johannesburg City and Suburban Tramway Co. Ltd., a specimen bearer warrant for 5 shares of £1, from the Bradbury, Wilkinson & Co. archive, 189-, vignette of horse drawn tram at top left, city street at bottom, ornate border, blue and black, with coupons, numbered B0000, extremely fine £80-100 7 Natal Permanent Building Loan and Investment Association, a specimen certificate for £5 share from the Bradbury, Wilkinson & Co. archives, Durban, 186-, attractive heading, red and black, glue residue on left back edge, extremely fine and a scarce date for South Africa. £50-60

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10 Treasury Gold Mines Ltd., Witwatersrand, a series of specimen certificates from the Bradbury, Wilkinson & Co. archive, comprising 1 share of £4, and 25 shares of £4, both 19- (annotations for 1906), £100 debentures, 1898 (2, in different colours), all attractive printings with allegorical figures, red, orange, green and red respectively, with coupons, the first two with slightly damaged top edge, good very fine to extremely fine. (4) £100-150

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FRENCH COLONIAL AFRICA 11 A small lot of French Colonial African companies, including Société Commerciale Africaine, Grand Bassam 1925 (fully issued but date missing); KayesBank, 100 francs, Paris 1911; La Séricicole du Congo, 100 francs, 1927; Compagnie Fédérale Soudanaise, 100 francs, 1927; Mines de Bou-Arfa, 2500 francs, circa 1920; Société Minière Intercoloniale, 4 different issues, 1945, and, others (3), most with coupons, several with vignettes, generally very fine and better.

(12) £80-100

OTTOMAN EMPIRE, EGYPT & MIDDLE EAST OTTOMAN EMPIRE

FRENCH WEST AFRICA 12 Kokumbo (Ivory Coast) Co. Ltd., a set of specimen certificates for 1, 5, 10 and 25 shares of £1, undated but circa 1905, from the Bradbury, Wilkinson & Co. archive, ornate borders, blue, green, red and brown respectively, text in English and French, with coupons, numbered A0001, B0001, C0001 and D0001, generally extremely fine. (4) £80-100

14 Anglo-Ottoman Oilfields Limited, bearer warrant for 100 shares of 5 shillings, 19[10], no.D1959, large format, ornate border with small vignette of ‘gusher’ at top, red and black, text in English and French with some Arabic in central medallion, with coupons, good very fine. £200-300 15 Ottoman Paper Manufacturing Company Ltd., one founders share of £100, 18[90], no.76, of only 100 issued, together with £10 preference shares, 18[90], no.195, scrollwork at left, blue and red respectively, with a few related receipts and a handwritten list of all the founders, very fine and scarce. (2) £150-200

13 Soc. Francaise du Dahomey, pair of certificates for founders share, 1923 over 1920, and 500 franc share, 1920, colourful pieces with palm trees and river scene, native huts, bananas, pineapple and crocodile, multicoloured, with coupons, both extremely fine, the first rare. (2) £80-100

16 Souback & Catir Alan Mining Co. Ltd., £1 shares, 188[2], no.158, issued to Ellen Baring, black, fine, some tears top and bottom edges. A rare type not previously seen by the cataloguer. £60-80

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Bonds and Share Certificates of the World 19 Anglo-Belgian Company of Egypt Limited, bearer warrant for 5 shares of £2 10s each, a specimen from the Bradbury, Wilkinson & Co. archives, numbered E000, circa 1910, vignette of steam train passing pyramid, ornate border, blue and black, with coupons, extremely fine. To the cataloguer’s knowledge only issued certificates for 1 share have been seen previously. From this specimen it would appear that only 25 of this denomination were intended for printing! £80-100

17 Syria Ottoman Railway Co. Ltd., a group of 25 certificates for one preference share of £20, 189[3], attractive heading with logo in centre, black on green paper, mostly very fine to about extremely fine. (25) £300-400

EGYPT

20 Anglo-Belgian Company of Egypt Ltd., bearer warrant for 100 shares of £5, a specimen certificate from the Bradbury, Wilkinson & Co. archives, annotation dated 1907, steam train at top, ornate border, text in English and French, red and black, with coupons, good very fine £80-100 21 Commercial Bank of Egypt, a group of 21 certificates for one share of £4, Alexandria 1920, architectural border with ancient motifs, female walking in an oasis with pyramids and Sphinx behind at left, text in French, Arabic and English, several endorsements on face of capital changes, with coupons, very fine to extremely fine. (21) £200-300 22 Crédit Foncier Égyptien S.A., a group of certificates for one share of £20/500 francs, Cairo 1880 (7), 1882 (1) and 1905 (67), all with the same Moorish design, green and black, text in English, Arabic and French, with coupons, the early issues with some staining and edge tears, poor to about very fine, the 1905 issue are generally very fine to about extremely fine with edge tears at the top edge on a few pieces. (75) £200-250

18 Agricultural Bank of Egypt, a specimen certificate for 25 ordinary shares of £5, Cairo 1906, from the Bradbury, Wilkinson & Co. archive, attractive vignette of oxen driving a well, ornate border, orange-brown and black, text in English, Arabic and French, numbered 00000, with coupons, glue residue on reverse left edge, about extremely fine. £60-80

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23 Egyptian Delta Land & Investment Company Ltd., a set of four specimen certificates from the Bradbury, Wilkinson & Co. archives for 1, 5, 25 and 50 shares of £1, 19-, printers’ annotation on each dated 1907, green, blue, brown and red respectively, with coupons, very fine to extremely fine. (4) £150-200 24 Egyptian Delta Light Railways Ltd., a group of certificates for 5 preference shares of £1, comprising 18[99], capital £530,000, 19[01], capital £854,370 (4), 19[04], capital £965,400 (3), and, 190[9], capital £1,360,000 (5), all with ornate border, red and black, printed by Bradbury, Wilkinson & Co., with coupons, mixed condition, a handful with edge nicks at top, about very fine, the first scarce. (13) £60-80

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November 16, 2011 - London 25 Egyptian Improvements Corporation, a series of bearer £4 share certificates for 1 share (10), capital £1,000,000, 5 shares (4) and 25 shares (5), capital £2,000,000, all dated Cairo 1906 or 1907, ornate border with Egyptian designs of bird and Sphinx, blue & yellow, green and blue & pink, with coupons, the 5 shares have edge splits at top, fine to very fine, the rest good very fine. (19) £200-300 26 Egyptian Improvements Corporation, a group of 71 bearer certificates for one £4 share, capital £1,000,000, Cairo [1906], ornate border with Egyptian designs of bird and Sphinx, blue & yellow, with coupons, mixed condition but many are good very fine and better. (71) £400-600 27 National Bank of Egypt, a specimen certificate for 1 share of £10, Cairo 1898, from the Bradbury, Wilkinson & Co. archive, capital £1,000,000, ornate border, text in English, Arabic and French, blue and black, with coupons, about extremely fine. £80-100

ETHIOPIA 31 Bank of Abyssinia, a pair of specimen certificates for 1 share and 5 shares of £5, from the Bradbury, Wilkinson & Co. archives, Cairo 1906 and 19-, ornate borders, blue and black and red and black, text in English and French, overprinted SPECIMEN in several places, extremely fine. (2) £80-100 The company was formed in Egypt with it’s Head Office in Cairo but administered from Adis-Ababa.

TUNISIA 32 London Bank of Tunis Ltd., founders’ share and £500 ordinary shares, both 18[74], both no.28, scrollwork at left, embossed seal, black on pink and black respectively, very fine. (2) £80-100

28 National Bank of Egypt, a specimen certificate for 10 shares of £10, Cairo 1898, from the Bradbury, Wilkinson & Co. archive, capital £1,000,000, ornate border, text in English, Arabic and French, brown and black, with coupons, about extremely fine. £80-100 29 Sednaoui Zariffa Nahas & Co. Ltd., bearer warrant for 1 share of £4, 190-, a specimen certificate from the Bradbury, Wilkinson & Co. archives, vignette of palm trees and pyramid, text in English and French, blue and black, with coupons, overprinted SPECIMEN in several places, extremely fine £60-80 30 Société Anonyme du Béhéra, a proof/specimen £20 founders’ share, circa 1895, from the Bradbury, Wilkinson & Co. archive, large format piece with Sphinx at top, pyramids and oasis at bottom, redbrown with blue underprint, numbered 0000, stamped PROOF at bottom, very fine. £60-80

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Bonds and Share Certificates of the World

ASIA CHINA AND HONG KONG Foreign Loans x33 A small collection of Chinese bonds, comprising Canton Kowloon Railway, 1907, £100; Tientsin Pukow Railway, 1908, £100, £50 paid, English issue, scarce; 1917 Military Loan, 1000 yuan; 1930 Railway Ministry, Canton-Hankow Railway, set of bonds for 4, 40 and 100 yuan; Kwangtung Government, 1912 loan, $10, and others (6), generally very fine. (13) £200-250 34 A collection of Chinese bonds, including 1898, £100 both English and German issues; 1911 Hukuang Railways, £20, French issue and £100 American issue; 1912 5% Gold Loan, £20 and £100; Province of Petchili, 1913, £20; 1919, Vickers £100; 1922 Railway Equipment Loan, £20; 1925 Skoda Loan, £10 and £50, and others (11), generally fine to very fine. (22) £300-400 x36 1898, 41⁄ 2 % Gold Loan, £25 bond, no.1465, issued by the Hongkong and Shanghai Banking Corporation, large format, red and black, with coupons, minor edge nicks but much better than average for this issue, very fine. £400-500 x37 1898, 41⁄ 2 % Gold Loan, £25 bond, no.264, issued by the Hongkong and Shanghai Banking Corporation, large format, red and black, with coupons, a few edge tears at top and left edges with small pieces missing but the body is fine to very fine. £250-300

35 1895 4% Gold Loan, bond for 500 francs, no.407852, issued in St.Petersburg, ornate border, brown, black and yellow, red ‘chop’, with 2 coupons, 5 large cancellation holes as normal, remains of small tape repairs at edges, fine. £300-350

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x38 1898, 41⁄ 2 % Gold Loan, £50 bond, no.1036, issued by the Hongkong and Shanghai Banking Corporation, large format, orange and black, with coupons, left edge a little ragged, with old tape repair at left centre otherwise nearly very fine. £250-300 x39 1898, 41⁄ 2 % Gold Loan, £50 bond, no.1061, issued by the Hongkong and Shanghai Banking Corporation, large format, orange and black, with coupons, a few old tape repairs with small piece missing at centre right, many small edge tears, fair. £200-250 x40 1898, 41⁄ 2 % Gold Loan, a group of 50 bonds for £100, issued by the Hongkong & Shanghai Banking Corporation, large format, brown and black, with coupons, mixed condition a few with damage but generally fine to very fine. (50) £1,500-2,000 x41 1898, 41⁄ 2 % Gold Loan, a group of 50 bonds for £100, issued by the Hongkong & Shanghai Banking Corporation, large format, brown and black, with coupons, mixed condition a few with damage but generally fine to very fine. (50) £1,500-2,000

x42 1898, 41⁄ 2 % Gold Loan, £500 bond, no.308, issued by the Hongkong and Shanghai Banking Corporation, large format, mauve and black, with coupons, split along heavy centre fold, left and right edges trimmed, fine. £300-400 x43 1898, 41⁄ 2 % Gold Loan, £500 bond, no.1306, issued by the Hongkong and Shanghai Banking Corporation, large format, mauve and black, with coupons, a few edge tears as usual and a small piece missing from top edge, fine. £300-350 x44 1898 41⁄ 2 % Gold Loan, a pair of bonds for £25, issued by the Deutsch-Asiatische Bank, large format, red and black, text in German and English, with coupons, both are extremely good condition for this issue, clean, one with a staple hole in the right margin, the other with one very small tear at left. (2) £80-100 x45 1898 41⁄ 2 % Gold Loan, a group of 20 bonds for £25, issued by the Deutsch-Asiatische Bank, large format, red and black, text in German and English, with coupons, mixed condition, fine to very fine. (20) £400-500

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Bonds and Share Certificates of the World x50 1898 41⁄ 2 % Gold Loan, a group of 10 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, brown and black, text in German and English, with coupons, mixed condition but generally fine to very fine. (10) £300-400 51 1902 5% Gold Loan ‘Cheng-Ting Railway Loan’, bond for 500 francs, Paris 1903, no.3332, large format, ornate border incorporating dragons and architectural designs, brown and black, green underprint, with coupons, some light staining at edges and along centre fold, fine to very fine. £150-200

x46 1898 41⁄ 2 % Gold Loan, a pair of bonds for £50, issued by the Deutsch-Asiatische Bank, numbered 24384 and 24385, large format, orange and black, text in German and English, with coupons, both without any faults or even staple holes, extremely fine for issue and rare thus. (2) £100-120 x47 1898 41⁄ 2 % Gold Loan, a group of 30 bonds for £50, issued by the Deutsch-Asiatische Bank, large format, orange and black, text in German and English, with coupons, a group in generally very fine condition and much better than is usually seen. (30) £600-800 48 1898 41⁄ 2 % Gold Loan, bonds for £50 and £100, issued by the Deutsch-Asiatische Bank, the £50 is in lovely condition with no edge tears and just two central folds, likewise the £100 but this does have an inch tear to the top edge; together with 1925 5% Gold Loan (Boxer), bonds for $50 (5); Lung Tsing U Hai Railway, 1913, 5% Gold Loan, £20 bonds (2), and, Banque Franco-Asiatique, ‘B’ shares of 500 francs (2), generally very fine or better (11) £150-200 x49 1898, 41⁄ 2 % Gold Loan, a very good group of 7 bonds for £100, issued by the Hongkong & Shanghai Banking Corporation, large format, brown and black, with coupons, all with just a very light centre bend otherwise extremely fine and very rare thus. (7) £500-700

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52 - another similar example, no.46414, very fine and scarce. £150-200 53 1903 5% Shanghai-Nanking Railway, a group of 65 bonds for £100, first issue 1904, large format, red and black, with coupons, a few with edge tears and old repairs, several are very fine. (65) £800-1,200

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November 16, 2011 - London x54 Chinese Imperial Railway 5% Gold Loan, Shanghai-Nanking Railway, a group of 51 bonds for £100, 1904 issue, all signed by William Keswick as director of the British and Chinese Corporation Ltd., long, thin format, red, pink and black, with coupons, mixed condition, generally fine to very fine, a handful are better. (51) £800-1,000 x55 1903 5% Gold Loan ‘Emprunt Chinois’, a group of 65 bonds for 500 francs, dated 1905, ornate borders, red and black, with coupons, mixed condition but many very fine, a handful better. (65) £400-500 x56 1903 5% Gold Loan ‘Emprunt Chinois’, a group of 19 bonds for 500 francs, dated 1907, ornate borders, red and black, with coupons, generally very fine or nearly so. (19) £120-150 x57 1905 5% Honan Railway Loan, a group of £100 bonds (14), large format, ornate border, black, bluegreen and yellow, coupon sheet stuck at right edge, generally very fine or nearly so. (14) £700-900 x58 1905 5% Honan Railway Loan, a group of £100 bonds (20), large format, ornate border, black, bluegreen and yellow, coupon sheets stuck at right edges, generally very fine with a few better. (20) £1,000-1,200 x59 1905 5% Honan Railway Loan, a group of three £100 bonds, second issue, 1906, numbers 7251, 7252 and 7553, large format, ornate border, black, bluegreen and yellow, with coupons, one with some slight surface marks otherwise good very fine, the others both with edge tears otherwise about very fine. (3) £250-350

x60 1907 5% Canton-Kowloon Railway Gold Loan, bond for £100, no.14496, an interesting error with adjustment plan endorsement for the Honan Loan instead, with coupons, about very fine and possibly unique error. £250-300 x61 1907 5% Canton-Kowloon Railway Gold Loan, a group of 10 bonds for £100, large format, red and black, printed by Waterlow & Sons, with coupons, all about extremely fine and scarce thus. (10) £600-800 x62 1907 5% Canton-Kowloon Railway Gold Loan, a group of 48 bonds for £100, large format, red and black, printed by Waterlow & Sons, with coupons, many good very fine and better but a handful with damage and tape repairs. (48) £2,000-2,500 x63 1908 41⁄ 2 % Gold Loan, £100 bond, countersigned by the Hongkong & Shanghai Banking Corporation, no.8801, walled city at top, ornate borders, mauve and black, printed by Waterlow & Sons Ltd., no coupons as is usual with this issue, extremely fine but cut close at bottom edge. £80-100

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Bonds and Share Certificates of the World x67 1908, 5% Tientsin Pukow Railway Loan, a good group of bonds for £100 (10), issued by Chinese Central Railways Ltd., large format with ornate border, orange and black, with coupons, all have ‘Drawn’ and a date between 1932 and 1936 in crayon in extreme top edge otherwise about extremely fine and scarce thus. (10) £500-700 x68 1908, 5% Tientsin Pukow Railway Loan, a group of bonds for £100 (30), issued by Chinese Central Railways Ltd., large format with ornate border, orange and black, with coupons, mixed condition but many are very fine. (30) £1,000-1,200 x69 1908, 5% Tientsin Pukow Railway Loan, a group of bonds for £100 (35), issued by Chinese Central Railways Ltd., large format with ornate border, orange and black, with coupons, mixed condition but many are very fine. (35) £1,200-1,600

x64 1908 41⁄ 2 % Gold Loan, £100 bond, countersigned by the Hongkong & Shanghai Banking Corporation, no.9076, walled city at top, ornate borders, mauve and black, printed by Waterlow & Sons Ltd., no coupons as is usual with this issue, extremely fine and rare in this condition. £100-120 x65 1908 41⁄ 2 % Gold Loan, £100 bond, countersigned by the Hongkong & Shanghai Banking Corporation, no.9077, walled city at top, ornate borders, mauve and black, printed by Waterlow & Sons Ltd., no coupons as is usual with this issue, extremely fine and rare in this condition. £100-120 x66 1908 41⁄ 2 % Gold Loan, £20 bonds (2), countersigned by the Banque de L’Indo-Chine, together with £100 bonds (5), countersigned by the Hongkong & Shanghai Banking Corporation, walled city at top, ornate borders, mauve and black, printed by Waterlow & Sons Ltd., no coupons as is usual with this issue, the £20’s are very fine and good very fine, one of the £100’s has a small edge tear otherwise near extremely fine, the remainder have tears and small holes and one is very poor. (7) £300-400

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x70 1908, 5% Tientsin-Pukow Railway Loan, a group of 4 bonds for £100 issued by Chinese Central Railways Ltd., £50 principle repaid in 1926, and new coupon sheet issued and attached, endorsement regarding same at top left, large format, orange and black, with coupons, one with tear at left edge, fine to about very fine. (4) £300-400 x71 1908 5% Tientsin Pukow Railway Loan, a group of 25 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, mauve and pale blue, with coupons, generally very fine. (25) £600-700 x72 1908 5% Tientsin Pukow Railway Loan, a group of 37 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, mauve and pale blue, all lacking coupons, generally very fine and better. (37) £600-800 x73 1908 5% Tientsin Pukow Railway Loan, a group of 5 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, mauve and green, with coupons, a nice group in about extremely fine condition. (5) £200-250

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November 16, 2011 - London x74 1908 5% Tientsin Pukow Railway Loan, a group of 40 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, mauve and green, with coupons, mixed condition but generally very fine and better. (40) £1,200-1,500 75 1908 Tientsin-Pukow Railway 5% Loan, a group of 25 bonds for £100 and 2 bonds for £20, large format pieces, mauve and green and mauve and blue respectively, with coupons, mixed condition but many are very fine and better. (27) £500-600 76 1910 Tientsin-Pukow Railway 5% Supplementary Loan, bonds for £100 (4), large format, green and black, with coupons, with receipts for coupons issued by the Hong Kong & Shanghai Banking Company; together with 1907, Canton Kowloon Railway, 5% Gold Loan, bonds for £100 (3), large format, red and black, with coupons, with fractional scrip certificates (9), black on green paper, fine to very fine but one Canton Kowloon bond has the top left corner missing and another has a split in the top left corner. (20) £350-450 x77 1910 5% Tientsin Pukow Railway Supplementary Loan, a group of 49 bonds for £20, issued by the Deutsch-Asiatische Bank, large format, green and mauve, with coupons, generally very fine and better.

(49) £1,000-1,200 x78 1910 5% Tientsin Pukow Railway Supplementary Loan, a group of 47 bonds for £100, issued by the Deutsch-Asiatische Bank, large format, green and red, with coupons, mixed condition but mostly very fine and better. (47) £1,500-1,800

x79 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 14 bonds of £20, issued by the Hongkong & Shanghai Banking Corp., large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (14) £400-500 x80 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 13 bonds of £100, issued by the Hongkong & Shanghai Banking Corp., large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, mostly very fine to about extremely fine. (13) £500-600 x81 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 13 bonds of £20, issued by the Banque de L’Indo-Chine, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, all have ‘drawn’ and a date in top margin otherwise good very fine to about extremely fine.

(13) £250-300

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Bonds and Share Certificates of the World x82 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 7 bonds of £100, issued by the Banque de L’Indo-Chine, large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, centre bend otherwise about extremely fine but with ‘DRAWN’ sticker attached at top. (7) £300-400

89 1911, Imperial Chinese Government 5% Railway Loan, bond for 500 yen, no.001257, ornate border, dragons at top, mauve and black with pale green underprint, text in Chinese with English on the reverse, with coupons, good very fine and scarce. £250-300

83 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 11 bonds of £20, issued by the Deutsch-Asiatische Bank, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, good very fine and better. (11) £200-300 x84 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 15 bonds of £20, issued by the Deutsch-Asiatische Bank, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, centre fold otherwise mostly about extremely fine. (15) £300-400 85 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 17 bonds of £20, issued by the Deutsch-Asiatische Bank, large format, steam train at top, green and black, printed by Waterlow & Sons, with coupons, mixed condition but generally fine and better. (17) £250-350 86 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 7 bonds of £100, issued by the Deutsch-Asiatische Bank, large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, six are very fine or better, one has numerous edge tears and only fine. (7) £200-300 x87 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 12 bonds of £100, issued by the Deutsch-Asiatische Bank, large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, generally very fine and better. (12) £500-600 x88 1911, 5% Hukuang Railways Sinking Fund Gold Loan, a group of 22 bonds of £100, issued by the American Banks syndicate, large format, steam train at top, red and black, printed by Waterlow & Sons, with coupons, mixed condition but generally fine to very fine and better. (22) £900-1,200

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90 1911, 5% Imperial Railway Loan, bond for 500 yen, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, mauve and black, pale blue underprint, text in Chinese with English on the reverse, with coupons, good very fine £250-300 91 1911, 5% Imperial Railway Loan, bond for 1000 yen, issued by the Yokohama Specie Bank, ornate border, Chinese dragons at top, orange and black, pale blue underprint, text in Chinese with English on the reverse, with coupons, good very fine £250-300 x92 1912 5% ‘Crisp’ Gold Loan, a group of 9 bonds for £20, large format, blue, yellow and black, red ‘chops’, with coupons, in choice about extremely fine condition.

(9) £250-300 x93 1912 5% ‘Crisp’ Gold Loan, a group of 36 bonds for £20, large format, blue, yellow and black, red ‘chops’, with coupons, generally about very fine. (36) £800-1,000 x94 1912 5% ‘Crisp’ Gold Loan, a group of 84 bonds for £20, large format, blue, yellow and black, red ‘chops’, with coupons, generally fine to very fine, some better.

(84) £1,800-2,200

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November 16, 2011 - London x99 1912 5% ‘Crisp’ Gold Loan, bond for £500, no.0164 large format, brown, blue and black, red ‘chops’, with coupons, tiny piece missing from lower right corner otherwise very fine. £250-300 x100 1912 5% ‘Crisp’ Gold Loan, bond for £500, no.1958 large format, brown, blue and black, red ‘chops’, with coupons, split along fold at right edge, about very fine. £200-250

x95 1912 5% ‘Crisp’ Gold Loan, a group of 10 bonds for £100, large format, turquoise and black, red ‘chops’, with coupons, all with centre bend only and about extremely fine. (10) £500-600 x96 1912 5% ‘Crisp’ Gold Loan, a group of 43 bonds for £100, large format, turquoise and black, red ‘chops’, with coupons, mixed condition, fine to very fine, some better. (43) £1,600-2,200 x97 1912 5% ‘Crisp’ Gold Loan, a group of 52 bonds for £100, large format, turquoise and black, red ‘chops’, with coupons, mixed condition, fine to very fine, some better. (52) £2,000-2,500

x101 1912 5% ‘Crisp’ Gold Loan, bond for £500, no.0783 large format, brown, blue and black, red ‘chops’, with coupons, very fine but light stain at extreme bottom edge. £250-300

98 1912 5% ‘Crisp’ Gold Loan, bond for £500, no.1292, large format, ornate border, brown and black, pale blue underprint, red ‘chops’, with coupons, pinholes at top, some staining, fine and scarce. £200-250

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Bonds and Share Certificates of the World

102 1912 5% ‘Crisp’ Gold Loan, bond for £1000, no.041, large format, ornate border, red and black, yellow underprint, red ‘chops’, with coupons, good fine and scarce. £600-700

x103 1912 5% ‘Crisp’ Gold Loan, bond for £1000, no.603, large format, red, yellow and black, red ‘chops’, with coupons, old sellotape repair at right edge, tear at left centre edge, fine. £400-500

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x104 1912 5% ‘Crisp’ Gold Loan, bond for £1000, no.178, large format, red, yellow and black, red ‘chops’, with coupons, small split at fold, fine to very fine. £500-600

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November 16, 2011 - London

x105 1913, 6% ‘Austrian’ Loan I, £100 bond, no. 9743, green and black, red ‘chop’ in centre (K.311), better than average condition for this issue, very fine and rare. £1,000-1,200 Floated in reorganisation of the Arnhold Karberg loans of 1912. Redeemed by the ‘Skoda’ Loan of 1925.

106 A miscellaneous collection of Chinese bonds comprising, 1913 5% Reorganisation Gold Loan, £20, brown (5), various issues, £20 green (2), 1912 5% Gold Loan, £20 bonds (5), 1908 Gold Loan, £20, French issue (4), Hukuang Railways, £20 (2, French & German issues), 1914 Industrial Loan, 500 francs, and a Confederate bond for $500, a very mixed condition lot, some with tears and stains, some fine and better. (20) £400-600

x107 1913, 5% Reorganisation Gold Loan, a pair of bonds for £20 (2), both countersigned by the Hongkong and Shanghai Banking Corporation, both with Spanish endorsement and revenue stamps at top, Mercury at top, city view and peasants at either side, brown, printed by Waterlow & Sons, with coupons, one with ink smudges at right edge otherwise very fine and an interesting variety. (2) £80-100

108 1913 5% Reorganisation Gold Loan, bond for £100, issued by the Hongkong & Shanghai Banking Corporation, ‘Mercury’ at top, peasants and buildings at either side, blue and black, printed by Waterlow & Sons, with coupons, near extremely fine. £300-400

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Bonds and Share Certificates of the World x113 1913, 5% Reorganisation Gold Loan, a group of £20 bonds (7), all countersigned by the Banque de L’Indo-Chine, Mercury at top, city view and peasants at either side, brown, printed by Waterlow & Sons, with coupons, all with blue certificate to show US domicile, very fine and better. (7) £500-600 x114 1913, 5% Reorganisation Gold Loan, a group of bonds for £20 (9), all countersigned by the Banque de L’Indo-Chine, Mercury at top, city view and peasants at either side, brown, printed by Waterlow & Sons, with coupons, very fine to extremely fine. (9) £600-700 115 1913 5% Reorganisation Gold Loan, bond for £100 or 2045 Marks, issued by the Deutsch-Asiatische Bank, ‘Mercury’ at top, peasants and buildings at either side, blue and black, printed by Waterlow & Sons, with coupons, near extremely fine. £300-400

109 1913 5% Reorganisation Gold Loan, £100 bonds (2), issued by the Hongkong & Shanghai Banking Corporation, Mercury at top, blue, with coupons, very fine and better. (2) £600-700 110 1913 5% Reorganisation Gold Loan, a group of 4 bonds for £100, issued by the Hongkong & Shanghai Banking Corporation, vignettes of Mercury at top, farmers left and buildings at right, blue and black, with coupons, generally very fine or better. (4) £1,200-1,400 111 1913 5% Reorganisation Gold Loan, a group of 7 bonds for £100, issued by the Hongkong & Shanghai Banking Corporation, vignettes of Mercury at top, farmers left and buildings at right, blue and black, with coupons, mixed condition, fine to very fine. (7) £2,000-2,200 x112 1913, 5% Reorganisation Gold Loan, a group of bonds comprising £100 (6) and £20 (7), all countersigned by the Hongkong & Shanghai Banking Corporation, Mercury at top, city view and peasants at either side, blue and brown respectively, printed by Waterlow & Sons, with coupons, very fine and better.

(13) £2,000-3,000

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x116 1913, 5% Reorganisation Gold Loan, a group of bonds comprising £100 (2) and £20 (12), all countersigned by the Deutsch-Asiatische Bank, Mercury at top, city view and peasants at either side, blue and brown respectively, printed by Waterlow & Sons, with coupons, one of the £20 bonds has a letter attached to say that this and 2 other bonds were previously lost, very fine and better. (14) £1,200-1,500 x117 1913, 5% Reorganisation Gold Loan, a group of bonds for £100 (5), all countersigned by the DeutschAsiatische Bank, Mercury at top, city view and peasants at either side, blue, printed by Waterlow & Sons, with coupons, very fine and better. (5) £1,500-1,800 x118 1913, 5% Reorganisation Gold Loan, a group of bonds for £20 (9), all countersigned by the Russo Asiatic Bank, with Russian revenue stamp at top left, Mercury at top, city view and peasants at either side, brown, printed by Waterlow & Sons, with coupons, very fine and better. (9) £500-600

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November 16, 2011 - London x119 1913, 5% Reorganisation Gold Loan, a group of bonds for £20 (8), all countersigned by the RussoAsiatic Bank, Mercury at top, city view and peasants at either side, green, printed by Waterlow & Sons, with coupons, very fine and better. (8) £400-500 x120 1913, 5% Reorganisation Gold Loan, a group of bonds for £20 (14), all countersigned by the Russo Asiatic Bank, Mercury at top, city view and peasants at either side, brown, printed by Waterlow & Sons, with coupons, very fine and better. (14) £700-900 x121 Province of Petchili, 51⁄ 2 % Gold Loan of 1913, a group of bonds for £20 (20), large horizontal format pieces with Chinese shipping with mountains in background in centre, brown and black, text in French and English, with coupons, generally very fine and better. (20) £200-300

126 1918, 8% Treasury ‘Marconi’ Bills, bond for £1000, no.2157, ornate border, red and black, yellow underprint, on poor quality paper, with coupons, top edge with a few edge tears, very fine for issue, rare. £300-400

x122 - another similar group of 20 bonds, generally very fine and better. (20) £200-300

127 1919 8% 10-Year Sterling Treasury Notes (Vickers Loan), a group of 20 bonds for £100, vignette of dockside, green and black, with coupons, mixed condition but mostly very fine. (20) £300-400

x123 1913 Lung Tsing U Hai Railway 5% Gold Loan, a group of 100 bonds for £20, very large format, ornate border, blue and black, text in English and French, with coupons, generally very fine with many better.

(100) £500-700

128 1919 8% 10-Year Sterling Treasury Notes (Vickers Loan), a group of 30 bonds for £100, vignette of dockside, green and black, with coupons, mixed condition but mostly very fine. (30) £500-600

x124 1913 Lung Tsing U Hai Railway 5% Gold Loan, a group of 120 bonds for £20, very large format, ornate border, blue and black, text in English and French, with coupons, generally very fine with many better.

(100) £600-800 x125 1914 5% Industrial Gold Loan, a group of 29 bonds for 500 francs, large format, 3 railway vignettes, ornate border, brown, yellow and black, text in French, with coupons, mixed condition but many very fine and better. (29) £300-400

129 1919 8% Sterling Treasury Notes (Vickers Loan), bond for £1000, small dockside vignette, brown and black, with coupons, a few folds but fine to very fine. £150-200 x130 1919 8% Sterling Treasury Notes (Vickers Loan), bond for £1000, no.10318, and £100, no.5415, small dockside vignette, brown and black & green and black, with coupons, very fine. (2) £150-200

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Bonds and Share Certificates of the World x135 1925 8% ‘Skoda’ Loan, a group of bonds for £10 (2), £50 (3) and £100 (6) ornate borders, ‘chop’ in centre, with coupons, generally fine to very fine, a few better. (11) £200-300 x136 1925 8% ‘Skoda’ Loan, a group of 14 bonds for £100, ornate border, mauve and black, ‘chop’ in centre, with coupons, mixed condition but mostly very fine and better. (14) £250-350 x137 1925 8% ‘Skoda’ Loan, bond for £500, no.0021677, ornate border, orange and black, ‘chop’ in centre, with coupons, small tears at right edge, fine to very fine. £100-120 x138 1925 8% ‘Skoda’ Loan, bond for £500, no.0021488, ornate border, orange and black, ‘chop’ in centre, with coupons, very fine. £120-150

131 Lung-Tsing-U-Hai Railway, 8% Dutch loan, 1920, an unissued certificate from the reserve stock, vignette of railway bridge at top, red, brown and dark blue, with coupons, un-numbered, very fine £80-120 x132 1925 5% Gold ‘Boxer’ Loan, a group of 100 bonds for $50US, ornate border, brown, yellow underprint, text in English and French, with coupons, generally very fine to extremely fine. (100) £600-800 x133 1925 5% Gold ‘Boxer’ Loan, a group of 100 bonds for $50US, ornate border, brown, yellow underprint, text in English and French, with coupons, generally very fine to extremely fine. (100) £600-800 134 1925 8% ‘Skoda’ Loan, bonds for £5 (4) and £10 (2); Lung Tsing U Hai Railway, 1000 florin bonds, 1920 (2) and 1923 (2); Nationalist Government Second Lottery Loan, 1931, 5 x 1 yuan bonds (10); 1937 4% Liberty Bonds, 5 yuan (5), 10 yuan (8) and 50 yuan (10); Nationalist Government Lottery Loan, 1926, bonds for 5 yuan (20); Second Nationalist Government Lottery Loan, 1926, bonds for 5 yuan (10) and Nationalist lottery Loan, 1927, bonds for 5 yuan (19), and a Central Savings Society, 1000 yuan bond, 1939-42, mixed condition but mostly very fine and better. (93) £300-400

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x139 1925 8% ‘Skoda’ Loan, bond for £1000, no.0026457, ornate border, red and black, ‘chop’ in centre, with coupons, nearly extremely fine. £150-200

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November 16, 2011 - London x140 1925 8% ‘Skoda’ Loan, bond for £1000, no.0026742, ornate border, red and black, ‘chop’ in centre, with coupons, about extremely fine. £150-200

146 1934 6% Sterling Indemnity Loan, bond for £100, no.3298, vignette of Sun Yat Sen at top, green and blue, pink underprint, with coupons, extremely fine £200-250

x141 1925 8% ‘Skoda’ Loan, a group of 4 bonds for £1000, ornate border, red and black, ‘chop’ in centre, with coupons, ragged edges otherwise very fine. (4) £600-800 x142 1925 8% ‘Skoda’ Loan, a group of 5 bonds for £1000, ornate border, red and black, ‘chop’ in centre, with coupons, all extremely fine. (5) £800-1,000 143 1934 6% Sterling Indemnity Loan, bond for £50, no.0144, vignette of Sun Yat Sen at top, brown & blue with green underprint, with coupons, very slightly discoloured in the centre otherwise extremely fine £200-250 144 1934 6% Sterling Indemnity Loan, bond for £50, no.1522, vignette of Sun Yat Sen at top, brown and blue, green underprint, with coupons, extremely fine £200-250

x147 1934 6% Sterling Indemnity ‘Boxer’ Loan, bond for £1000, no.6770, vignette of Sun Yat Sen at top, pink & blue, with coupons, extremely fine. £400-500 x148 1934 6% Sterling Indemnity ‘Boxer’ Loan, a scarce set of bonds for £1000, £100 and £50, vignette of Sun Yat Sen at top, pink & blue, green & blue with yellow underprint and brown & blue with green underprint respectively, with coupons, all about extremely fine. (3) £800-1,000 x149 1936, 6% Shanghai Hangchow Ningpo 6% Completion Loan, pair of bonds for £50 and £100, large format with vignette of Sun Yat-Sen in top right corner, medallion of value in left corner, green, red & blue and brown, green & blue respectively, with coupons, the £50 with a spike hole at top left, very fine, the £100 near extremely fine. (2) £100-120 145 1934 6% Sterling Indemnity (Boxer) Loan, bond for £50, no.1715, ornate border with vignette of Sun Yat sen at top, blue, brown and black with green underprint, with coupons, extremely fine. £200-250 Page 23

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Bonds and Share Certificates of the World x150 1936, 6% Shanghai Hangchow Ningpo Completion Loan, a group of 11 bonds for £100, large format with vignette of Sun Yat-Sen in top right corner, medallion of value in left corner, brown, green & blue, with coupons, all about extremely fine. (10) £500-600

x152 1937 Secured Sinking Fund Bond (Pacific Development Loan), variable interest rate, $1000 US, no. M2621, pagoda at top, blue, with coupons, ABNC printing (K.952), extremely fine. £250-300 x153 1937 Secured Sinking Fund Bond (Pacific Development Loan), variable interest rate, a group of 4 bonds for $1000 US, pagoda at top, blue, with coupons, ABNC printing (K.952), with attached certificates showing holder is US domicile, all have some slight damp stains in the lower left quarter. (4) £800-1,000 x154 1937 Secured Sinking Fund Bond (Pacific Development Loan), variable interest rate, a group of 5 bonds for $1000 US, pagoda at top, blue, with coupons, ABNC printing (K.952), near extremely fine.

(5) £1,000-1,200

x151 1937 Secured Sinking Fund Bond (Pacific Development Loan), variable interest rate, $1000 US, no. M2453, pagoda at top, blue, with coupons, ABNC printing (K.952), with attached certificate showing holder is US domicile, good very fine £200-300

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November 16, 2011 - London

Internal Loans

x155 Imperial Q’ing Household, loan certificate for 100 kuping taels, 1851, large format piece with text in Chinese, red ‘chop’ marks, red and black, bottom left corner cut off as cancellation, very fine and rare. £10,000-12,000 The first attempt by the Imperial Household to borrow money, mostly from the merchant population at zero interest. A similar certificate but for 300 taels was sold in Beijing in June of this year.

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Bonds and Share Certificates of the World

156 Chinese Republic, 1912, 8% Treasury Gold Loan, special bond for £9, issued by Banque de Reports, de Fonds Publics & de Dépôts, in Brussels, ornate border, grey and black, centre fold otherwise very fine. £80-100 This forms part of the First Year Internal Loan whereby bonds were authorised to be issued in sterling at £9 per 100 yuan. x157 1912 8% Public Loan for Military Requirements, pair of bonds for $5, no.11929 and $100, no.17344, ornate borders, brown with blue underprint and green with yellow underprint, both with large red ‘chops’ in centre, text in Chinese with English translation on reverse, with all coupons, extremely fine. (2) £150-200

159 Chinese Government, 5th Year, 6% Internal Loan, a strip of 5 bonds for 1 yuan, issued 1918, no.743618, brown and red with pale blue underprint, text in Chinese with English on the reverse, with coupons, very fine and scarce. £60-80 The loan was authorised in 1916 (5th Year) but drawings were postponed for 2 1⁄ 2 years and these new bonds were issued in replacement of the originals.

160 1947 36th Year 6% U.S.Gold Bond, first issue, $50, no.2303, Chiang Kai Shek at top right, green, black and red, with coupons, text in Chinese with English translation on the reverse, extremely fine and scarce. £80-100

x158 1912 8% Public Loan for Military Requirements, bonds for $10, no.17364, ornate borders, red with blue underprint, large red ‘chop’ in centre, text in Chinese with English translation on the reverse, with all coupons, extremely fine. £80-100

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Provincial Loans

x161 Chungwah Revolutionary Army Finance Office, 8% Military Loan, bond for $5000, 1911, no.631833, ornate border, blue and black, yellow underprint, red ‘chop’ in centre, with all coupons, very fine and rare. £80-100

x163 Hunan Military Government, 4% 15-year bond for $5, 1911, no.848, Chinese building at bottom, ornate border, green and black, printed in Tokyo, light staining at top, very fine and rare. £300-400

A rather odd unrecorded piece where the total loan was for 9,900,000 yuan making the maximum number of this denomination issued to be 1980. Probably printed in Japan on the authority of Sun Yat Sen to raise funds for the impending revolution.

x162 Hukuang Province Public Loan, bond for 100 kuping taels, 1909, variable interest rate, ornate border with dragons at either side, brown, yellow underprint, red ‘chop’ in centre, with coupons, extremely fine. £150-200

x164 Kwangtung Military Government, bond for HK$10, 1911, redeemable in 2 years at $1.50 per dollar, simple ‘local’ design, black, heavy folds with some separation, fine and rare. £150-200 Page 27

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x165 Shanghai Municipal Council, 5% Loan, 1937, set of debentures for $100, $500 and $1000, large format, government buildings at top, ornate borders, yellow, blue and red respectively, very fine or better, the first and last scarce, the second rare. (3) £300-400

Railways

x166 Canton Hankow Railway Co. (Kwong-Tung Yueh-Han), certificate for 5 yuan shares, 1914, very attractive piece with vignette of large station building in centre flanked by vignettes of steam engine & tender and passenger carriages, a detailed map of the railway below, blue, red and yellow, text all in Chinese but if you look closely the company name is in English on the locomotives’ tender, very fine and scarce. £500-600 www.spink.com

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x167 Gu Bi Railway, 50 yuan ‘large’ share, 1913, very attractive piece with laden steam train crossing bridge over river, brown, pale blue underprint, red ‘chops’, about extremely fine. £300-400

x168 Kwongtung Tramway Co. Ltd., $10 shares, 1921, no.1040, very attractive piece with electric tram at top, ornate border, blue and red, red seal, sadly the piece has had some water damage in the past with some paper loss but has been expertly repaired with new pieces and the design repainted, very fine. £300-400

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x169 Shanghai Electric Construction Co. Ltd., a specimen certificate for 100 shares of £1, 19- (circa 1920), from the Bradbury, Wilkinson & Co. archive, capital £500,000, electric tram at top left, very ornate borders, blue and mauve, numbered C0000, with coupons, creased but very fine and scarce. £100-120

x171 Shanghai City Ferry Co. Ltd., $100 shares, 1947, no. B000402, ferry in medallion at top, ornate border, red and black, text in Chinese but English title in embossed seal, some staining at bottom otherwise about very fine. £120-150

Shipping

x170 Ning Foo Ferry Co. Ltd., Chefoo, an unissued certificate for $5 shares, 1910, two large dragons flank panel of text, company flag at top, blue and red, with counterfoil, text all in Chinese, about extremely fine and scarce. £60-80

x172 Sze Yap Steam Ship Co. Ltd., Hong Kong, $25 shares, 1912, no.83, single funnel steamship at top, ornate border of fruit and flowers with bats with outstretched wings, blue and orange, numerous red ‘chops’, text in Chinese with English name at the bottom and in the red seal, heavy folds with small hole in centre, fine to about very fine and rare. £500-600

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Bonds and Share Certificates of the World x173 Yee Cheong Ferry Co., $100 shares, 1930, ornate border, green and black, yellow underprint, text all in Chinese, red ‘chop’ in centre, two tears at right edge otherwise about very fine and scarce. £150-200

Roads and Buses

x176 Western Kwangtung Public Transport Co. Ltd., $100 new renminbi shares, 1955, no.505, ornate border comprising bus driving through industrial area and lorry driving along a country road, red and black with yellow underprint, fine to very fine. £80-100 x174 China General Omnibus Co. Ltd., 10 tael shares, 1941, no.7207, ornate border, brown on greyish paper, text in English with Chinese title and seal, light stains at right corners, very fine and scarce. £250-300

Banks

x175 Tai Shan County, Public Road, a group of certificates for $5 shares, 1929 (2) and 1934, all very fine. (3) £150-200

177 Bank of Hindustan, China & Japan Limited, certificate for 1 share of £100, £25 paid, 18[63], no.

1850, attractive coat of arms in centre, black, slight ink smudging, about extremely fine. £150-180

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x178 Bank of Hindustan, China & Japan Ltd., £100 share, new issue, 18[64], no.29382, attractive coat of arms in centre, scrollwork at left, black on orange paper, spike hole at top left, good very fine. £150-200

x180 Chartered Bank of India, Australia & China, certificate for 1 share, 185[4], no.31449, ornate scrollwork at left, black, lovely embossed seal, extremely fine. £300-400

x181 Chungwah Bank Co. Ltd., 10 shares of $100, 1912, no.184066, small format piece with Sun Yat sen at top, ornate border, green, black and red, very fine. £60-80 Printed in Japan and issued as a cover for Sun Yat Sen’s revolutionary fund raising.

179 Banque Franco-Chinoise pour le Commerce & L’Industrie, 100 franc share, Paris 1927, category ‘B’, no.53194, ornate border, brown and green with yellow underprint, Chinese characters in centre, with coupons, good very fine. £80-100 Formed to acquire the assetts of the bankrupt Banque Industrielle de Chine and opened offices throughout China and French Indochina.

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Bonds and Share Certificates of the World 186 Oriental Bank Corporation, a group of 7 certificates for £25 share, 18[52], issued to Runchord Muddonjee of Bombay, vignette of royal coat of arms at top and scrollwork on left, embossed seal, numerous transfers on reverse, black, somewhat toned but very fine. (7) £120-180

Insurance Companies

x182 Commercial Bank Corporation of India & the East, £25 share, 1864, no.1642, black printing on pink paper, extremely fine. Incorporated by Royal Charter in 1864. Opened branches in China, Japan, Malaya and India. Failed in the wake of the Overend, Gurney crash of 1866. Prepared banknotes for issue (see Spink, lot 1701, January 2007). £80-100

x187 Union Insurance Society of Canton Ltd., a specimen certificate for $250 shares, from the Bradbury, Wilkinson & Co. archive, Hong Kong 19(annotation for 1908), capital 3,100,000 dollars, very attractive border, text in English with some Chinese, black, perforated SPECIMEN, extremely fine. £150-200

x183 International Savings Society, premium bond for $2000 local currency, issued at Canton, 1920, no.14130, allegorical female in medallion at top, ornate border, blue, yellow underprint, about very fine and scarce. £80-100 The holder would pay a fixed monthly sum to ensure that his funds were repaid at the end of 15 years plus a share in the investment profits. The bond could also be redeemed by drawing twice per annum. x184 Oriental Bank Corporation, £25 share, first issue, 18[51], coat of arms at top, scrollwork left, black, printed by Perkins, Bacon & Petch, top right corner stained;, later issues, 18[61] and 18[65], both same design, the first with paper seal the second just embossed, black, and Oriental Hotels Co. Ltd., £10 shares, £2 paid, 1863, scrollwork left, black, very fine, the last about extremely fine. (4) £80-100 x185 Oriental Bank Corporation, £25 share, first issue, 18[51], arms at top, black, top right quarter is stained, later issue, 18[65], same design; New Oriental Bank Corporation Ltd., £10 share, 188[5], green and black, red seal, with coupons, and, Oriental Bank Estates Co. Ltd. a specimen £100 debenture from the Bradbury, Wilkinson & Co. archive, undated but circa 1889, attractive design with allegorical females at top, black, pink underprint, with coupons, numbered 0000, very fine and better unless stated. (4) £150-200

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x188 Union Insurance Society of Canton Ltd., a specimen certificate for £10 shares, by Henry S. King, Hong Kong 19- (annotation on stubb for 1903), capital 2,000,000 pounds, very attractive border, text in English with some Chinese, black, perforated CANCELLED, extremely fine. £150-200

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Land and Investment

x189 Canton Investment Co. Ltd., $100,000 share, revalued to 10 renminbi, 1956, no.2552, very attractive piece depicting ship at dockside, steam train, factory, laboratory and textile factory, blue and black, good very fine. £120-150

192 Kien Hwa Investment Co. Ltd., Shanghai, 500 yuan shares, 1944, no.4292, ornate border, blue and black, yellow underprint, red seal, text in Chinese English in the company seal, rust clip marks at top edge, very fine. £50-60

193 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. £80-100 Registered in Hong Kong in 1932. Dissolved in 1956.

194 Sing Chung Realty Investment Co. Ltd., Shanghai, shares, 1944, no.6261, attractive piece with vignettes of buildings around border, brown, red and black with olive underprint, text in Chinese but with English embossed seal, extremely fine. £80-100

x190 China Realty Co. (Fed.Inc. U.S.A.), $10 shares, 1941, no.6847, ornate border, blue and black, yellow underprint, gold seal, good very fine. £150-200

195 Realty Investment Corporation, Shanghai, shares, 1947, no.1221, ornate border, red and black, text in Chinese but compay seal is in English, adhesive duty stamps on the reverse, almost extremely fine. £50-60

x191 Hongkong & Kowloon Land & Loan Co. Ltd., $100 shares, 1899, black printing with all text in Chinese, seal in English, very fine and an early date. £80-100

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Mining Companies

196 Eastern Pioneer Company Ltd., £1 shares, fully paid, 19(19), no.5697, dragon just below title, scrollwork left, red, very fine. £60-80 Registered in 1899 to acquire mining concessions in China and Korea.

197 Great Northern Gold Dredging Ltd., £1 ‘A’ shares, fully paid, 19[30], no.38, and 1 shilling ‘B’ shares, fully paid, 19[30], no.50, both with handwritten capital increase from £93,000, ornate borders, black and green respectively, the first has some shadow text from being next to another document, very fine and better. (2) £60-80 Registered in 1929 to acquire from Anglo-Eastern Tin Ltd. an alluvial gold concession in Northern Manchuria.

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x198 Han-Yeh-Ping Iron & Coal Co. Ltd., $50 shares, 1913, ornate border, green and black with yellow underprint, text in Chinese but title in English, details of the company in English on the reverse, together with certificate of payments records and original envelope, good very fine and rare. £300-400

199 Upper Yangtse Syndicate Ltd., 1 shilling deferred shares, fully paid, [1899], no.2, attractive black printing on pink paper, Chinese characters in scrollwork at left, rust mark in centre, about very fine and scarce. £80-100

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Public Utilities

x200 Hankow Water & Electricity Supply Co. Ltd., $10 shares, 1933, no.1353, attractive design with power stations, water tower, water treatment plant and electric cables, mauve and black, red ‘chops’ in centre, adhesive revenue stamps, very fine. £150-180

x203 Peking Water Supply Co. Ltd., 5 shares of $10, 1921, attractive ornate border, green and black with orange underprint, red ‘chops’ in centre, good very fine and scarce. £120-150 x204 Peking Water Supply Co. Ltd., $10 shares, 1944, no.2621, ornate border, brown and black with yellow underprint, text all in Chinese, good very fine. £80-100 205 Popular Electrical Works Ltd., Shanghai, $10 shares, 1944, no.0290, ornate border, green and black, adhesive duty stamps, text in Chinese but with English in the company seal, good very fine. £50-60

x201 Peking Water Supply Co. Ltd., an unissued certificate for $10 shares, circa 1908, black, text all in Chinese, red ‘chops’ in centre, still attached to counterfoil, ink cancelled, about extremely fine. £100-120 x202 - another simlar piece, about extremely fine. £100-120 Page 35

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x206 Shanghai Chinese Electric Co. Ltd., a pair of certificates for 10,000 shares and 50,000 shares of $10 each, 1947, no. 211547 and 116325, issued to Du Yuesheng, ornate borders, green and red respectively, text all in Chinese, good very fine and better. (2) £50-60 207 Shanghai Power Company, 51⁄ 2 % First Mortgage Debenture for $10,000, [1941], no.R17326, allegorical female with vignette of Shanghai, red and black, printed by ABNCo., red endorsement over the vignette, nearly extremely fine. £80-100 x209 Chih Cheng Company Ltd., $25 silver dollar share, 1914, large format certificate with ornate border, pink and black, slightly faded but good very fine. £400-500

Commercial and Industrial

x208 Shanghai Telephone Co. (Fed. Inc. U.S.A.), $10 shares, 1947, no.C08873, ornate border, green and black, text in English, good very fine. £120-150

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x210 China Egg Producers Co. Ltd., $1000 shares, 1946, no. 00109 and $10 shares, 1947, no. F00962, similar ornate borders but several design differences in the detail, red and black, company logo at top, filing holes in top margin, very fine; together with an unissued certificate for $50 shares in the Tun=mun Farming Company (Hong Kong), circa 1920’s, blue with yellow underprint, with counterfoil, very fine. (3) £80-100

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x211 Country Club, Bubbling Well Road, Shanghai, debenture bond for 100 taels, 1901, no.287, ornate border, blue and red, transfers to 1938 annotated on reverse, about very fine. £150-200

x214 Kwangtung Kingsuotong Medical Shop, 10 Canton tael shares, undated, circa 1920’s, ornate border, blue and black, pink underprint, text all in Chinese, very fine. £120-150 215 No lot

x212 Ewo & Co. Ltd., $100 shares, 1947, no.0214, ornate border, red and black, yellow underprint, text in Chinese but title and seal in English, very fine. £150-200 x213 Great Northern Shanghai Theatre, $10,000 shares, 1936, no.1825, ornate border, brown and black with pale green underprint, extremely fine £150-200

x216 New China Textile Co. Ltd., a group of 3 share certificates for 80, 3,000 and 5,000 shares, 1943 and 1947 (2), all converted and cancelled, green and black with red seal, green and black and red and black respectively, generally very fine. (3) £60-80 x217 Noronha & Co., Ltd., $500 10% cumulative preference shares, 1940, no.22, blue border with pink underprint, good very fine. £60-80 Printers to the Hong Kong Government. Printed Government notes to alleviate the shortage of coin during Japanese Occupation. x218 Shanghai Worsted Mill Ltd. (Hong Kong), HK$5 shares, fully paid, 1947, no.501, ornate border, monogram and kittens at top, mauve and black, very fine. £80-100 Page 37

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Bonds and Share Certificates of the World x219 Sino-American Tobacco Co. Ltd., 10,000 shares of $10, 1944, no.0003, ornate border, green and black, yellow underprint, text all in Chinese; together with Nanyang Brothers Tobacco Co. Ltd., 1000 shares, 1952, ornate border, green and black, red seal, very fine and about extremely fine. (2) £60-80 x220 Tai Yauyu Oil Manufacturing Co. Ltd., a group of 3 unissued certificates, very fine and better. (3) £100-150

x223 Wing On Co., (Shanghai) Ltd., $100 shares, 1937, lovely vignette of the company’s department store at top, ornate border, green with pink underprint, title in English, text in Chinese, cut into top edge as cancellation, very fine. £80-100

x221 Tung Fung Flour Mill Co., $100 share, 1921, ornate border of wheat sheafs, brown, green underprint, text all in Chinese, adhesive revenue stamp, cancelled, very fine. £80-100

x224 Wing On Co. (Fed. Inc. U.S.A.), $10 shares, 1942, no.5073, lovely vignette of the company’s department store in Shanghai, ornate border, green and black with orange and green underprint, text in both English and Chinese, with dividend book and original envelope, very fine and scarce £150-200

x222 Tung Wei Enterprise Co., pair of certificates for 1 share of $100, 1937 and 10 shares of $100, 1923, attractive printing in purple with yellow underprint, a little stained but very fine. (2) £150-200 www.spink.com

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x225 Wing On Co. (Shanghai) Ltd., $100 shares, 1943, no.12227, vignette of large department store, ornate border, red with yellow underprint, text all in Chinese, adhesive revenue stamps, good very fine; together with other certificates (4) of the same company, for $10 shares, 3 different types, 1940’s, all with similar vignette of the store, one with tear at top edge, another with corner cut off as cancellation, mixed condition but generally very fine. (5) £120-150

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INDIA, BURMA & CEYLON 226 India: A small collection comprising Madras Railway Co., £20 share, 1853; Oriental Inland Steam Co. Ltd., £10 shares, 1860 (2 examples); Oriental Hotels Co. Ltd., £10 share, 1863; Wentworth Gold Mining and Indian estates Co. Ltd., £1 shares, 1887; Western Patkoom Gold Prospecting Syndicate Ltd., 1 founders share, 1890; New Oriental Bank Corporation Ltd., 100 rupee share, 1890 (2 examples); Indo Burma Oilfields (1920) Ltd., £1 shares, 1920; Malabar Forests & Rubber Co. Ltd., 50 rupee shares, 1921; Suburban Land Development Co. Ltd., Rangoon, 10 rupee shares, 193-, fully issued but date omitted, and, other certificates from India and Ceylon and Timor Petroleum Co. Ltd., 1926, mostly very fine with several better. (16) £140-180 x227 A group of textile companies comprising; New Jehangir Vakil Mills Co. Ltd., 100 rupee preference share, 1943, Indian gentleman at top, blue, adhesive Bhavnagar State revenue stamp; Western Jute Baling Co. Ltd., 100 rupee ordinary share, 19[49]; Northern Bengal Jute Trading Co. Ltd., 10 rupee shares, 194[1]; Ajit Mills Ltd., 1949; Lalbhai Tricumlal Mills Ltd., 1929; Ahmedabad Jupiter Spinning, Weaving & Manufacturing Co. Ltd., 10 certificates for 125 rupee shares, 1935, and another different design, 194[7]; Pakistan: Adamjee Jute Mills Ltd., a group of 10 certificates for 10 rupee shares, 19[53]; Pakistan: Kohinoor Jute Mills Ltd., a group of 10 unissued certificates, circa 1950, and, other certificates (2), fine to extremely fine. (38) £200-300 x228 A group of Commercial and Industrial companies, comprising; Great Eastern Hotel Ltd., 100 rupee shares, 19[16]; Central India Electric Supply and Industrial Co. Ltd., 25 rupee shares, 19[20]; Jaipur Metals & Electricals Ltd., a group of 10 certificates for 100 rupee ordinary shares, [1944]; Central India Tobacco Co. Ltd., a group of 10 unissued certificates, 193-; Himabhai Manufacturing Co. Ltd., a group of unissued certificates for 1000 rupee shares, 190-; and others (2), generally very fine to extremely fine. (34) £150-200 x229 A useful group of transport related certificates, comprising; Morris Transport Service Ltd., 100 rupee share, 1942, steamship, aeroplane and bus at top; Scindia Steam Navigation Co. Ltd., 15 rupee shares, 194[8], steamship at top; Diefna Motors Ltd., Dacca, a group of 5 certificates for 10 rupee shares, 19[48], blue; Kurwai Motor Transport Co. Ltd., a group of 10 unissued certificates for 10 rupee shares, 19- (circa 1940), Indian gentleman at top, brown; Diefna Ltd., Dacca, 19[47], and, Indian Standard Wagon Co. Ltd., 19[26], the last cancelled, generally very fine to extremely fine. (19) £150-180

x230 East India Company, a bill of exchange dated St. Helena 1820, addressed to the Court of Directors in London, in the sum of £100 2s, printed form with manuscript insertions, signed by Hudson Lowe, Thomas Brooke and Thomas Greentree, well repaired tear in centre, creased and slightly discoloured, ink cancelled, fine and rare. £200-300 St. Helena was colonised by the East India Company by charter from the British Government in 1658. Napoleon was famously exiled there on his defeat in 1815 until his death in 1821. Sir Hudson Lowe, 1769-1844, soldier and Colonial administrator, Governor of St. Helena, 1815-21, gaoler of Napoleon, the handling of which he received much criticism.

231 Madras Presidency, Khallikote Raj Sterling Loan of 1935, a group of 51⁄ 4 % Mortgage debentures for £100, very large format, ornate border, blue-green, printed by Waterlow & Sons, with coupons, only 650 issued, very fine to extremely fine. (24) £250-300 232 Bengal-Nagpur Railway Co. Ltd., stock certificate for [£250], 191[6], no.1106, scrollwork at left, brown; together with East Indian Railway Company, Annuity Class B, 18[91], no.18762, issued in London, green, very fine. (2) £60-80 233 East Indian Railway Company, Annuity Class B, 18[91], no.18811, issued in London, green, good very fine. £40-50

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x234 Agra Bank Ltd., £6 shares, 19[00], no.2038, issued and signed by the liquidator, attractive scrollwork at left incorporating coat of arms, ornate border, mauve, 4 liquidators endorsements noting a total of £5 12s 6d returned per share, about very fine. £60-80 Bank originally established in 1833 but failed for the first time in the wake of the Overend Gurney crash in 1866. Reconstituted in the following year but failed again in 1900. The Taj Mahal is located at Agra.

235 Agra Bank Ltd., 5 certificates for one share of £10, 18[70], scrollwork at left, mauve, printed by Joseph Causton & Sons; together with 4 certificates for £10 shares, 18[90] to 18[93], slightly different scrollwork at left, mauve, printers imprint now Sir Joseph Causton & Sons, and, another certificate for £6 shares, 19[00], signed by the liquidator, scrollwork at left, mauve, all have several endorsements on face, generally fine to very fine. (10) £200-250 x236 Bank of Bengal, 1000 rupee share, undated but revenue stamp dated 1859, scrollwork with Britannia on top at left, black, printed by Perkins, Bacon & Petch; together with similar certificates (4); 18[76], black, red seal, printed by T.S.Smith; 18[1904], black, dark red seal, printed by Waterlow & Sons (2 examples), and, 19[08], black, dark red seal, printed

by Waterlow & Sons, all cancelled, fine to very fine, together with Industrial Bank of Western India Ltd., 100 rupee shares, 19[20], black, fine. (6) £60-80 237 British Burmah Petroleum Co. Ltd., 8 shilling shares, fully paid, 19[15], no.16743, blue, and another similar but dated London [1920], blue on pink paper, both with BBP monogram in scrollwork at left, very fine. (2 ) £50-60

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238 Ceylon Company Ltd., a group of 10 certificates for one share of £20, £10 paid, 1866, attractive view of town from the sea, good very fine to extremely fine. (10) £250-300 Established in 1862 to acquire the Worms Coffee Estates in Ceylon and Mauritius. Failed due to heavy losses in Mauritius and the failure of its bankers, the Oriental Bank Corporation in 1892.

239 - a similar lot, good very fine to extremely fine. (10) £250-300 240 - a similar lot, two are a little creased and about very fine, the rest good very fine to extremely fine. (10) £200-250 x241 Eastern Financial Association Ltd., 5 shares of 400 rupees, 186[4]. no.4842, black and green, red overprint, good very fine and scarce. £60-80 242 Great India Fire Insurance Co. Ltd., a group of 10 certificates for 20 rupee shares, 191[9], heart shaped vignette of map of the Indian sub-continent, ornate border, blue with blue-green underprint, impressed revenue stamp, about extremely fine. (10) £80-100 x243 Investors’ Land Co. Ltd., a group of 10 certificates for 100 rupee shares, 1917, attractive underprint in green of large building, scrollwork left, black and green, the day and month of issue have been omitted in error, generally extremely fine. (10) £80-100

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November 16, 2011 - London x244 Kalyanmal Mills Ltd., a group of 10 certificates for 100 rupee shares, 192[2], mill building at top left, blue with green underprint, adhesive Holkar state revenue stamp, a few edge chips especialy on one piece, two have old repairs, otherwise about extremely fine. (10) £80-100 x245 Nevatia Flour Mills Ltd., a group of 10 certificates for 100 rupee shares, 1915[6], ornate title with wheat sheaves, sheaves also at left, black and yellow, red impressed revenue stamp, generally extremely fine. (10) £80-100 246 New Kusunda Colliery Ltd., a group of 43 certificates for 10 rupee shares, 192[0], blue with blue underprint overall, impressed revenue stamp, extremely fine. (43) £120-150 247 Oriental Hotels Company Ltd., a group of 7 certificates for £10 shares, £2 paid, 1863, scrollwork at left, black, embossed seal, two have uneven left edges otherwise extremely fine. (7) £100-120

x250 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. (10) £100-120

248 Oriental Inland Steam Company Ltd., a group of 84 certificates for one share of £10, 185[8], embossed seal depicting elephant, black, generally good very fine and better. (84) £250-300

251 Swadesh Laxmi Mills Ltd., a group of 39 certificates for 100 rupee shares, 1921[3], small vignette of goddess Lakshmi, ornate border, blue, impressed revenue stamp, a few with tiny stain at extreme lower edge otherwise extremely fine. (39) £100-150

The company was formed to establish steam navigation on the rivers of India.

249 Raja Gokaldass Mills Ltd., a group of 12 certificates for 100 rupee shares, Bombay 1918, ornate border, black, adhesive revenue stamp, generally good very fine to extremely fine. (12) £60-80

252 Tambracherry Estates & Wynaad Gold Mining Co. Ltd., £1 shares, 188[1], embossed seal, black (3 examples); together with Tambracherry Estates Company Ltd., 12s 6d shares, 188[6], embossed seal, black (3 examples), very fine and better. (6) £60-80 253 United Provinces Oil Mills Co. Ltd., 100 rupee shares, 19[21], numbers 85, 86, 87 and 88, vignette of goddess Lakshmi, ornate border, mauve, adhesive revenue stamp, factory at Belanganj, Agra, about extremely fine. (4) £60-80 254 Pondichery: SAVANA, Société Industrielle, Commerce et Financière, a group of 34 certificates for 2500 franc shares, Bordeaux [1951], very attractive certificates with vignettes of elephant moving timber, oxen pulling wagon and native congregation, brown, with coupons, extremely fine. (34) £100-150

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JAPAN

257 Dai Ichi Kikwan Hoken K.K. (The No.1 Engine and Boiler Insurance Company Ltd.), 10 shares of 50 yen, 1931, attractive piece with portrait vignette of James Watt in the centre, text in Japanese and English, green and black, small ink stain at extreme top edge, very fine. £60-80 258 Nippon Kogyo Ginko (Industrial Bank of Japan), pair of bearer certificates for 10 shares and 50 shares, 1906, attractive pieces with ornate borders, text in English and Japanese, black and yellow and black and pink, both with coupons, small splits at folds, fine to very fine. (2) £150-200 x255 City of Nagoya, 5% Loan, 1909, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, large format piece with large Japanese building at top, ornate border, green and black, text in English and French, with coupons, left edge thinned where removed from backing otherwise very fine and rare. £300-400 256 Ville de Tokyo (City of Tokyo), 5% Loan of 1912, bond for 500 francs, no.24709, large format piece with vignette of tree lined river with small sailing vessel, electric tram in left border, power station in right border, green and black, printed by Waterlow & Sons, with coupons, very fine. £80-100

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NETHERLANDS INDIES 259 Netherlands Indies: A collection of certificates (120), comprising British rubber companies (40), 1907 to 1947, includes a couple of option certificates, several scarce titles noted, other foreign companies (5), comprising Tandjong Keling A.G. Zurich, 1000 franc share, 1927; Banjoemas (Java) Oil Concessions Ltd., 1925; Batavia Oilfields Ltd., 1920 (2 examples) and Sumatra Tin Concessions Ltd., 1927, and Dutch or local companies (75), many plantations, some very small issues and a few with vignettes, mixed condition, fine to very fine, some better. (120) £400-500

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AUSTRALASIA AUSTRALIA 260 Australasia: An accumulation of mining and other certificates, mostly 20th century (61), includes Southern Coal Co. of New South Wales, 18[89], Taitapu Gold Estates Ltd., £100 debenture, [1915], and Land Company of Australasia Ltd., £100 debentures, 1888 and 1889, some duplication, many 1920’s and 30’s British registrations, together with post 1940 certificates (10), option certificates (7) and miscellaneous documents (5), very mixed condition but most fine to about very fine. (83) £350-450 263 Bank of South Australia, £25 shares, 18[79], no.2153, attractive scrollwork left incorporating coat of arms, black, old repaired tear at top centre otherwise fine. £80-100 Founded in 1837 as the banking arm of the South Australian Company. Separated in 1842 and given a Royal Charter in 1847 as the South Australian Banking Company. Name changed when charter renewed in 1867. Charter cancelled in 1884 and the company registered then under the Company’s Act. Caught up in land speculation in the latter part of the 1880s’ and absorbed by the Union Bank in 1892.

264 Bank of South Australia Ltd., £25 shares, London 18[88], no.5804, attractive scrollwork left incorporating coat of arms, black, fine but scarce. £80-100

261 State of Queensland, 1922, 25-Year 6% External Gold Loan, a specimen bond for $500, from the American Banknote Company archive, Queensland arms at top flanked by allegorical figures, orange and black, numbered 00000 in blue, overprinted SPECIMEN in red, with coupons, good very fine and rare. £120-150

265 National Bank of Australasia Ltd., a specimen certificate for £10 shares, London Register, 19- (circa 1910), from the Bradbury, Wilkinson & Co. archive, red, yellow underprint, red Bradbury specimen seal, with counterfoil; together with a specimen preference stock certificate of the Trust & Agency Company of Australasia Ltd., 19- (circa 1910), blue and red, Bradbury specimen seal, with counterfoil, good very fine to extremely fine. £60-80

262 Tasmanian Government Loan, 6% debenture for £100, 1867, no.713, coat of arms at top, ornate border, blue, stamped PAID, good very fine. £50-60

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266 Union Bank of Australia, certificate for [4] shares, 186[7], no.8502, black on pink paper, blue overprint across face, good very fine and scarce. £150-200 267 Panama, New Zealand & Australian Royal Mail Company Ltd., £5 shares, partly paid, 186[5], issued to Charlotte Fanny Countess Poulett, blue, about very fine. (3 examples) £150-200 Formed by the Royal Mail Steam Packet Co. to provide a service to New Zealand and Australia via Panama. The company built 4 ships but failed in 1868 and the ships were acquired by the Royal Mail Steam Packet Company to whom they had been mortgaged.

271 Bendigo Goldfields Ltd., £1 ordinary shares, fully paid, [1897], no.216, vignettes in each corner of mining and City views from 1851 and 1896, blue, bottom right corner missing otherwise very fine. £60-80 272 Central Exploration Company of Western Australia Ltd., a group of 15 bearer share warrants for 1 deferred share of £1, 189[5], ornate border, black, printed by Waterlow & Sons, with coupons, generally very fine. (15) £200-300

268 Anchor Tin Mine Ltd., 5/- ordinary shares, no.501 and £1 preference shares, no.804, both 19[09], anchor below the title, ornate borders, green and brown on yellow paper, together with £50 mortgage debenture, 1910, no.458, black, 4 pages, very fine and better. (3) £60-80 269 Australasian Electric Light, Power & Storage Co. Ltd., 3 different certificates comprising £5 original shares, 188[2], £1 ordinary shares, 188[7] and £1 deferred shares, 188[7], all with ornate border and scrollwork at left, black, mauve and blue respectively, the first about very fine, the second also about very fine but with discolouration in centre and the last with several tape repairs at top and bottom edges. (3) £60-80 270 Australian Cordillera Gold & Copper Mining Co. (Cost Book), a pair of certificates for 5 and 10 shares of £1, both 185[2], black printing, on linen, red serial numbers, very minor toning, good very fine. (2) £100-120

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273 Challenge Mining & Milling Company Ltd., 10 shilling shares, 189[9], no.316, corner vignettes of Australian crest, black swan, mountain scene and train, slate blue, slightly grubby with some creasing otherwise about very fine. £60-80 274 Durham and Lord Byron Amalgamated Gold Mining Co. Ltd., £1 share, 18[90], no.1257, brown with red overprint of capital restructure, ‘valueless across face in ink otherwise good very fine. (3 examples) £60-80

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275 Glen Osmond Union Mining Company of South Australia, share certificate, £10 per share paid, 184[6], black on blue paper, centre fold otherwise about extremely fine. £60-80 One of several early mines at Glen Osmond following the discovery of silver. The Glen Osmond Union Mining Company was formed by Osmond Gilles and his brother Lewis having raised funds in England. The company had its own smelting works and built cottages for its miners at Harrow.

278 Great Cobar Limited, 6% First mortgage debentures, a group of specimen certificates (6), from the Bradbury, Wilkinson & Co. archives, comprising £20 (2), brown and black, 1906 (no. 0001 to 2000) and 19- (no. 2001 to 3500), £50 (2), pink and black, 1906 (no. 3501 to 4500) and 19- (no. 4501 to 6000), £100 (2), blue and black, 1906 (no. 6001 to 10600) and 19- (no. 10601 to 11550), all with coupons, generally extremely fine. (6) £100-150 Registered 1906 to acquire various gold, copper and coal mines covering 3,252 acres in New South Wales.

276 - another similar, centre fold otherwise about extremely fine. £60-80 277 - another similar lot but 6 examples, centre fold otherwise about extremely fine. (6) £180-220

279 Greenbushes Tin Fields Ltd., 10/- shares, fully paid, 19[02], no.570, black swan at top, green, printed by Waterlow & Sons, good very fine. £50-60 Greenbushes is located 150 miles south of Perth, Western Australia. Tin first discovered in 1888 and mining began the following year.

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280 Kalgoorlie Mint and Iron King Gold Mines Ltd., £1 preferred ordinary shares, fully paid, 1[899], no.84, attractive with small vignette of mine in centre, ornate border, scrollwork left, mauve, about very fine. £60-80

284 Mawson’s “Reward” Claim Ltd., £1 shares, part paid, 189[7], no.480, lovely vignette of miners posing with winding gear and slag heap, ornate border, green and black, good very fine. £80-100

281 Kapunda Mining Company Ltd., group of 3 certificates for £1 5s shares, 18[63], signed by Charles Bagot, as director, scrollwork left, embossed seal, blue, about very fine with pin holes top left. (3) £100-150 Kapunda, 80km north of Adelaide, was Australia’s first mining town following the discovery of copper in 1842 by Charles Bagot and Francis Dutton. Dutton sold out his interest in the mine to Bagot in 1845 leaving Bagot with a controlling stake. By 1862, the mine employed 400 but operations ceased in 1878 following the collapse in the price of copper.

282 Lady Shenton Gold Mine Ltd., 2 slightly different certificates for £1 shares, London register, 189[8] and 189[1901], ornate border, different shades of blue, very fine. (2) £60-80 Mines at Menzie’s Find, Coolgardie.

283 Lady Shenton Gold Mine Ltd., a specimen certificate for £1 shares, 189-, from the Bradbury, Wilkinson & Co. archives, ornate border, blue, perforated SPECIMEN, with counterfoil, about extremely fine. £50-60

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285 Mount Margaret Reward Claim Ltd., £1 shares, part paid, 189[1900], no.1879, small vignettes in each corner, ornate border, black on blue paper, red overprint of new capital, good very fine. £60-80 x286 Penguin Silver Mines Company, Reg’d, Tasmania, £1 shares, 187[0], no’s 53551-53600, pale blue printing by Harris & Just of Launceston, about extremely fine. £150-200

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November 16, 2011 - London 287 Tasmanian Exploration Co. Ltd., 10/- shares, 190[7], ornate border, black with pale blue underprint, printed by Waterlow & Sons; together with other certificates (35) including New Zealand Midland Railway Co. Ltd., 1889 and 1895; Madagascar Mercantile & Development Syndicate Ltd., 1890; Peninsular Co. Ltd., ordinary share, 1866 and preference share, 1867; Mestanza Mines Ltd., 1883, and Chemins de Fer Ethiopiens, 1899, this with huge vignette, one or two duplicated and generally very fine and better. (36) £150-250

x291 United Victorian & Tasmanian Quartz Mining Company Reg’d, £5 shares, 18[70], no.1291, a lovely piece, printed in Melbourne, in blue, green and gold, embossed duty stamp, almost extremely fine and rare. £200-250 Mines at Waterhouse, Tasmania. Gold was first found at the North Eastern tip of the island in 1869 and a boom ensued which was over by 1871.

288 Union Jack Consolidated Mines Ltd., 5 shilling share, fully paid , [1900], no.585, Union Jack flag at top, red and blue, folds, otherwise good very fine. £60-80 Registered in 1899 to acquire the Union Jack mine at Charters Towers, Queensland. Also took over Golden Gate Mining Co., Sunburst Gold Mining Co., Lady Carrington Gold Mine and John Bull Gold Mine.

289 Union Jack Consolidated Mines Ltd., - a similar piece, no.769, about very fine £60-80 290 Union Jack Consolidated Mines Ltd., - a similar piece, no.1132, heavy folds, stained at bottom right, fine. £50-60

x292 Waterhouse Quartz Mining Company Reg’d, Pioneer Reef, Waterhouse, Tasmania, £5 shares, 18[70], no.2896-2905, ornate printing, by Turner of Launceston, in blue and gold, embossed seal, almost extremely fine. £150-200 293 Yorke Peninsula Mining Company Ltd., £1 original shares, 1864, no.119, £1 preference shares, 187[5], no.63, and £1 ordinary shares, 18[80], no.1310, all with coat of arms top left, black with mauve, yellow and buff underprints respectively, well creased but fine to about very fine. (3) £120-150

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NEW ZEALAND

CANADA

294 New Zealand Midland Railway Co. Ltd., a group of certificates comprising 5% first mortgage debentures, 1889, for £1000 (only 265 issued) and £100, and second issue, 1895, £100 (only 265 issued) and £12 10/-, all large format, with coupons, generally very fine. (4) £80-100 295 New Zealand Midland Railway Company Ltd., a group of 12 first mortgage debentures for £1,000, 1895, of only 20 issued, large format, ornate border, black with yellow underprint, very fine with spike hole top left. (12) £120-150 296 Auckland & Suburban Drainage Board, 41⁄ 2 % Loan of 1913, a specimen £100 debenture from the Bradbury, Wilkinson & Co. archive, large format, ornate border, brown and black, with green underprint ‘£100’, with coupons, overprinted SPECIMEN, nearly extremely fine £60-80

297 Dominion of Canada, 1918 51⁄ 2 % 5th War Loan, a bond for $50, no.054851, ship at dockside with steam train, “Canada’s Victory Loan 1918” in small letters above, blue and black, printed by the American Bank Note Co. in Ottawa, split along fold just into the vignette, good fine and very rare. £150-200 298 A collection of Canadian Railway certificates, comprising; Quebec, Montreal and Southern Railway Co., 1907; Grand Trunk Railway Company of Canada, 4 different types including 4% Guaranteed Stock, 1908, rare; Canada Southern Railway Co., 6 different certificates, 5 of which are unissued, including $1000 registered second mortgage bond, signed by Cornelius Vanderbilt Jnr. but not signed by the trustees, generally very fine. (11) £80-100 299 Cobourg, Northumberland and Pacific Railway Company, Province of Ontario, 12 examples of £100 5% First Mortgage Debentures, 1898, of only 1512 issued, ornate border, blue, printed by Bradbury, Wilkinson & Co., with coupons, good very fine. (12) £150-200

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November 16, 2011 - London 300 Grand Trunk Railway Company of Canada, a rather nice collection of early certificates comprising ‘FOURTH PREFERENCE INTEREST STOCK’, 18[63], black with mauve underprint; FOURTH PREFERENCE STOCK’, 18[63], black with mauve underprint and 18[69], black with grey-green underprint; ‘FIRST PREFERENCE STOCK’, 18[85], black, green and pink underprint, and, ‘THIRD PREFERENCE STOCK’, 18[87], black with yellow and pink underprint, all about very fine and rare early dates. (5) £100-120

303 New Brunswick and Canada Railway and Land Company Ltd., a group of certificates for Class C Capital shares, 1857, 1 share (25), 5 shares (17), 10 shares (14), 20 shares (9) and 50 shares (1), embossed seal of early loco, black, printed by Waterlow & Sons, the 50 has a blue ink annotation and very fine, of the remainder a few are creased but many are extremely fine. (66) £400-500 The railway ran from St. Andrews to Debec near the Maine border and was completed in 1862.

304 New Brunswick and Canada Railway and Land Co. Ltd., a group of 100 certificates for Class C Land shares, 1857, embossed seal depicting early locomotive, blue, printed by Waterlow & Sons, generally good extremely fine. (100) £300-400 305 - a similar lot but approximately 400 examples, a few pieces creased but generally extremely fine. (approx.

400) £800-1,200 306 Toronto Grey & Bruce Railway Company, $100 shares, 187[6], no.B130, circular logo with wheatsheaves and steam train top centre, black, green paper seal, surface dirt and some edge tears, fine and rare. £60-80 307 A small group of Canadian certificates, comprising British America Corporation Ltd., 189[8], facsimile signature of Whitaker Wright; Comstock Mines (British Columbia) Ltd., 189[7], British-Canadian Timber & Manufacturing Co. Ltd., 189[9] (2 examples); Nova Scotia Land and Gold Crushing and Amalgamating Co. Ltd., 1863, and, New City estates Ltd., 1914 (2), generally very fine to extremely fine. (7) £80-100

301 Inverness Railway and Coal Company, Nova Scotia, a group of 10 first mortgage 5% gold bonds for $500, 1902, all signed by William MacKenzie as President, steam train at top, miners at bottom, ornate border, green and black, with coupons, very fine to extremely fine. (10) £100-150

308 An accumulation of Canadian mining, oil, land and timber and other companies, (38), mostly all different and mostly early 20th century, a few with vignettes, includes Cable Auto Tire Co. Ltd., (BC), $10 shares, 191[5], condition is very mixed but many are very fine. (38) £100-150

302 - a similar lot but 20 examples, mostly very fine to extremely fine. (20) £200-300

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Bonds and Share Certificates of the World 309 British Columbia Mining Companies (6), comprising; Kelley Creek Gold Mining and Milling Co. of British Columbia, $1 shares, 1[897]; Virginia Mining Comany Ltd., $1 shares, 1[898]; Maple Leaf Mining and Development Co.Ltd., $1 shares, Vancouver 190[2], split at folds;, Wild Horse Gold Mining Co. Ltd., $1 shares, Rossland 1[897]; King Edward Mines Ltd., $1 shares, 1[904], and Spitzee Mining Co. Ltd., $5 shares, 190[6], generally very fine unless stated. (6) £100-120 310 A small group of Canadian gold mining and land companies, mostly British Columbia, comprising; La Regina Gold Mining Co., 1896; Westeagle Ltd., 1901; Winnipeg Mines Ltd., 1901; Le Roi Mining Co. Ltd., 1899, facsimile signature of Whitaker Wright; J.O. 41 Gold Mining Company of Rainy River, 1899; New Deer Park Gold Mining Co., 1899; Ymir Gold mines Ltd., 1909; Canadian Agricultural, Coal & Colonization Co. Ltd., £100 debenture, 1889, and, Western Canada Land Co. Ltd., 1913, very fine to extremely fine. (9) £120-150 311 British Columbia Mines: A small collection of mostly 19th century certificates comprising Bornite Bank Gold Mining Co. Ltd., 1[900]; Bunker Hill Mining Co. Ltd., 1[899]; Cromwell Mining and Development Co. Ltd., 1[899]; Equitable Gold Mining & Development Co. Ltd., 1[899]; Great Western Mines, [1902]; International GoldCoppermining Co. Ltd., 1[897]; Keystone Gold Mining Co., 1[899]; Kootenay & North West Mining Co., 1[897]; Kootenay-London Mining Co., 1[897]; Lerwick Gold Mining Co., 1[897]; Montezuma Gold Mining Co., 1[896]; Noonday Mining Co., 1[896]; Oriel Mining & Milling Co. Ltd., 1[900]; Rossland & Green Mountain Gold Mining & Development Co., 1[898]; Rossland Star Gold Mining Co., 1[897], and, Waneta and Trail Creek Gold Mining Co., 1[896], several with vignettes, mostly very fine to extremely fine.

(16) £250-300 312 Canada West Land & Petroleum Co. Ltd., a group of 24 certificates, each for one share of £20, 1866, black printing, embossed seal at bottom left, centre crease otherwise generally extremely fine. (24) £150-180

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313 Canadian North Pacific Fisheries Ltd., $5 ordinary shares, a group of certificates for 25 shares, serial letter ‘B’, 50 shares, serial letter ‘A’ (7) and 100 shares, serial letter ‘E’ (2), all 19[12] or 19[13], very attractive pieces with vignette of beached whale and fishing boat, blue green with yellow underprint, printed by Waterlow & Sons, the last offering from a larger quantity sold in our last auction, fine to very fine and better. (10) £300-350

314 Halifax Sugar Refining Co. Ltd., A group of 13 debentures for £100, 188[4], plain black printing, with coupons, mostly very fine and better. (13) £120-150

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EUROPE MISCELLANEOUS LOTS x318 A group of Hungarian and German shares and bonds, comprising, Dr. Just Glow-Lamp and Electrical Factory Co. Ltd., 25 shares of 200 kronen, 1921, 1 share of 200 kronen (4), 10 shares of 200 kronen, and 25 shares of 200 kronen, all 1923, text in Hungarian, German, French and English; Allgemeine Holzindustrie und Holzhandels A-G, 25 shares of 200 kronen (2), 1923 and 1924, text in Hungarian and German, generally very fine to about extremely fine; together with Hungarian and German State and City loans, including Frankfurt and Hamburg, generally about very fine but a few with edge tears. (40) £180-220 319 A group of bonds and share certificates from Roumania, Bulgaria, Yugoslavia and Serbia, (29), some duplication, mixed condition, fine to very fine.

(29) £120-150

315 Lillooet, Fraser River & Cariboo Gold Fields Ltd., a pair of bearer warrants for 4 and 5 shares of £1, London 189[5], no.B1084, and 189[6], no.C10441, lovely pieces printed by Waterlow & Sons, vignette of river and mountains, ornate border, text in English and French, yellow and black, and blue and black, with coupons, almost extremely fine. (2) £100-120 316 Yukon Goldfields Ltd., £1 shares, part paid, 1[899], no.75, scrollwork at left, green, about very fine. £50-60 317 - another similar but no.454, about very fine. £50-60

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BELGIUM

322 Belgian Public Works Co. Ltd., certificate for 10 ‘A’ preference shares of £10 each, £5 paid, 1867, no.48, some coupons attached, decorative border with crest, lilac, very fine. £40-50 An early Baron Grant company of which he was chairman. Grant’s reign as company promoter came to an end in the 1880’s with a very high profile bankruptcy and allegations of fraud.

323 Howe Machine Company S.A., a pair of certificates for 1 and 5 shares of 100 francs, Brussels 1889, the company’s Glasgow factory at bottom, sewing machine and cyclist at left and right, Elias Howe, the inventor, medallion at top, brown and green and blue and orange respectively, with all coupons; together with an interesting illustrated weekly report on production in Glasgow, 1889, black, with several vignettes at top, extremely fine. (3) £120-150

320 Kingdom of Belgium, Stabilisation loan, 1926, a specimen bond for £100, from the Bradbury, Wilkinson & Co. archive, large format piece, ornate border, red and black, blue Bradbury specimen stamp at bottom, with coupons, creased bottom left corner otherwise about extremely fine and rare. £200-250 321 Battle of Waterloo, a lottery ticket for 1 florin, 1827, for the chance to win a painting of the battle by M. Le Roy, black on thick paper, very fine. £50-60 The painting which measured 8 feet by 5 feet and was lavishly framed, was painted in 1816 and won first prize when exhibited in a competition in Gand (Ghent) and was reputed to cost 6360 florins. It was the most detailed depiction of the battle and included all the prominent figures such as Wellington, Napoleon, Blucher, the Prince of Orange and the Prince of Saxe Weimar. Along with the painting the prize included an engraved battle plan and other documents.

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324 S.A. des Ateliers de Construction, Forges & Aciéries de Bruges, one fifth of a 500 franc share, Bruges 1896, no.0135/5, beautiful design with frame made of ornate architectural iron castings with coat of arms and factory in bottom corners, red-brown and grey-green, with coupons, good extremely fine. £60-80

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November 16, 2011 - London 326 Société Générale de Belgique S.A., a group of 5 specimen ‘part de reserve’ for 1250 francs, Brussels 1928, from the Bradbury Wilkinson archives, vignettes of coat of arms, steam locomotive, miners underground and mine buildings, large allegorical female in the centre, green and black, with coupons, red ‘specimen’ medallion at bottom, extremely fine. (5) £120-150 Formed in 1822 under the auspices of King William of the Netherlands. Served as the National bank of Belgium after independence in 1830 until 1850 when the Banque Nationale was formed. Invested in all branches of industry at home and in the Colonies such as Congo. The banking arm was split after 1929 and the company was eventually merged into Suez Lyonnaise des Eaux in 1998.

325 Société Générale de Belgique S.A., a group of 3 specimen ‘part de reserve’ for 1250 francs, from the Bradbury Wilkinson archives, three different issues, 28 February 1928, 10 May 1929 and an undated issue later than 1935 (printer’s annotation for 1945), this with small red DUPLICATA overprint, vignettes of coat of arms, steam locomotive, miners underground and mine buildings, large allegorical female in the centre, green and black, with coupons, the first 2 with red ‘specimen’ medallion at bottom, extremely fine. (5) £60-80 Formed in 1822.

327 Société du Nouveau Cirque, 100 franc share, Gand 1894, no.3241, ornate border with allegorical figures depicting an artist and a musician, horses heads and coat of arms, blue-green and black, buff underprint, no coupons, couple of small repaired edge tears, fine to very fine. £80-100

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BULGARIA

328 Société Royale de Zoologie d’Horticulture et d’Acrement de Bruxelles, nominative certificate for 1 share, [1859], no.1927, classic design with stone archway with various animals including a tiger, snake and crocodile, black, yellow underprint, split along centre fold, very fine. £120-150

329 Free Theatre Co., 1000 leva share, 1918, no.2690, large theatre with motor car, horse-drawn wagon and well dressed patrons outside, black and yellow, pale blue underprint, with coupons, very fine. £80-100

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

330 Peoples Bank of Sofia, 20 shares of 50 leva, 192[31] and 50 shares of 50 leva, 192[34], very colourful pieces with bank office at bottom and depictions of agriculture and commerce in each corner, no coupons, good very fine. (2) £80-100

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November 16, 2011 - London 331 Radopi Wood Industry, 100 leva share, undated but circa 1917, several vignettes of sawmill, wood products and forest, blue and yellow, with coupons; together with Kalpasonow, 1000 leva share, 1920, large allegorical figure at left, woman operating weaving machine at bottom, black, green and yellow, with coupons, good very fine. (2) £60-80

CZECHOSLOVAKIA

332 Bulgaria, 5000 leva share, 1925, no.142, of only 500 issued, factory at bottom left, allegorical female and cherubs above holding share certificates, dark green and brown, pale green underprint, good very fine and scarce. £50-60

CROATIA x333 Croatia: A collection of banks, comprising; Hrvatske Katolicke Banke, 100 kruna, 1907, 1st issue and 100 kruna, 1919, 2nd issue; Hrvatske Banke u Travniku, 100 kruna 1924; Muslimanske Banke, 200 kruna, Stocu 1922; Komercialna Banka, 400 kruna, Brodu 1906; Dobrovoljacka Banka, 100 dinara, Zagreb 1922; Staropazovske Banke D.D., 120 kruna, Staroj Pazovi 1920; Hrvatska Gospodarska Banka, 10 shares of 100 dinara, Zagreb 1935; Sredisnja Privredna I Zadruzna Banka, 1 and 5 shares of 200 kruna, 1922; Jugoslavenska banka, 10 and 25 shares of 400 kruna, 1921, and, Jugoslavenska Udruzena Banka, 5 shares of 200 dinara, 1928, most with coupons, generally very fine to extremely fine. (13) £200-250

336 Erzgebirg’sche Eisen-Und Stahlwrks-gesellschaft in Komotau, 200 gulden share, Prag 1871, no.8625, vignettes in each corner of steel making, very ornate borders, black and grey, no coupons, good very fine. £80-100 337 Skoda Works, a group of 4 first mortgage debentures for £100, 1930, large format, ornate borders, brown and black, 4 pages, printed by Waterlow & Sons, one is very fine, the rest almost extremely fine. (4) £80-100

x334 Agrarne Stedionice Dionicar. Drustva u Zlataru (Zlataru Agricultural Company), a series of 3 certificates comprising, 100 kruna, 3rd issue, 1919; 10 shares of 100 kruna, 1920, and, 100 shares of 25 kruna, 1925, all with vignette of horse and plough, black & blue on pink paper, black & green on green paper, and, blue & silver on white paper, all with coupons, good very fine to extremely fine. (3) £60-80 x335 Prva Hrvatska Obrtna Banka (First Croatian Bank), set of 4 certificates for 1, 5, 10 and 25 shares of 400 kruna, Zagreb 1920, ornate borders, small vignette at centre depicting tools, black with various colour underprints, with coupons, extremely fine (4) £60-80

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FINLAND

FRANCE

340 The Aeolian Company S.A. Française, 100 franc share, Paris 1923, no.7839, ornate border with vignettes of organs, a pianola with rolls, gramophone player and records, large vignette of piano showroom in underprint, blue and yellow-brown, with coupons, extremely fine £70-90

338 Municipal Mortgage Bank of Finland (Suomen Asuntohypoteekkipankki), a specimen 61⁄ 2 % Sterling Mortgage bond for £100, 1927, from the Bradbury, Wilkinson & Co. archive, large format piece with vignette of allegorical female and lion at top, ornate border, blue and black, red Bradbury specimen stamp at bottom, with coupons, very fine to extremely fine. £150-180 339 Marja O.Y., 1 share of 400 marks, Parola 1944, together with 10 shares of 400 marks, Parola [1952], bunches of grapes hang from the title, ornate borders, brown, green and red and green and red, very fine. (2) £60-80

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341 Banque D’Escompte de Rouen, 500 franc share, 1883, no.384, of only 500 issued, beautiful vignette of city and dockside, allegorical females on plinths at either side, black, pale blue underprint, with coupons, extremely fine and scarce. £120-150

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342 Banque Industrielle Stéphanoise, 100 franc share, Saint Etienne [1920], no.7311, allegorical figures on architectural columns at either side, brown and blue, with coupons, good very fine. £60-80

347 Compagnie Parisienne des Voitures Electriques (Procédés Kriéger), part bénéficiaire, Paris 1900, no.1578, lovely Art Nouveau design with four of the company’s vehicles at left, brown and yellow, with coupons, extremely fine. £60-80

343 Compagnie des Claridges Hôtels, a group of 12 certificates for 100 franc shares, Paris 1921, classic multicoloured design with steamship at left and steam train at right, red and blue with yellow underprint, endorsement on face, with coupons, generally extremely fine and better. (12) £200-300 344 Compagnie des Tramways Electriques de Limoges a Aixe (Haut-Vienne), a group of 65 certificates for shares of 100 francs, Paris 1899, ornate border, black, yellow underprint, with coupons, extremely fine. (65) £200-300 345 Compagnie Générale Francaise D’Assainissement des Villes et des Communes, a group of 73 founders shares, Paris 1896, numbers 6501 to 6573, ornate border, black and green, with coupons, all with revenue stamps but some have not been signed by the administrator, apart from the top piece they are extremely fine. (73) £100-150

348 Grand Casino Municipal de la Ville de Biarritz, 100 franc share, 1900, no.3419, vignette of very impressive building at top left, lady in bathing suit by the sea at bottom left, green, with coupons, with endorsements of payments to 1914, about extremely fine. £60-80

346 Compagnie Maritime de la Seine, a group of 10 founders shares, Paris [1899], attractive pieces with river views and steamboats, allegorical female sitting at dockside and rising sun in the centre, brown, no coupons, generally extremely fine. (10) £100-120

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Bonds and Share Certificates of the World

349 Groupement National de la Baie Mont-Saint Michel, 100 franc share, Paris 1927, no.40543, very attractive piece with architectural border with vignettes of the small Island off Normandy and architectural detail of the Monastery and coats of arms, blue and green, with coupons, very fine to extremely fine. £60-80

352 Soc. Anonyme du Petit Journal, pair of certificates for 500 franc share, 1896, and 500 franc preference share (action de priorité), 1921, very attractive and well engraved borders of busy dockside, ploughing scene, books and works of art, steam printing press and allegorical figures, office building top centre, black with yellow underprint and blue with blue underprint, good very fine and extremely fine, the second hole cancelled. (2) £80-100 353 No lot 354 Société Génétale d’Automobiles ElectroMécaniques, a group of 8 certificates for one share of 100 francs, Paris 1907, ornate border, brown and black with orange-brown underprint, with all coupons, extremely fine. (8) £80-100 355 No lot

350 Journal La Mode Nationale S.A., 100 franc share, Paris 1898, no.9531, attractive piece with women wearing fancy hats in each corner, brown and black with pale green underprint, with coupons, good very fine. £60-80 351 Pont de la Mulatiere, 500 livre share, 1790, no.420, black printing on thick paper, signed by 5 directors but the name of the shareholder has not been inserted, uneven top edge, good very fine. £200-250

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356 St.Etienne Brewery Co. Ltd., a group of 26 debentures for £100 each, 1891, large format piece with ornate border, black, 4 pages, very fine to extremely fine. (26) £100-150 One of the many breweries that were acquired by British capital in the late 19th century.

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GERMANY 357 Kingdom of Westphalia, 6% Loan, 1808, bond for 200 franken, coat of arms at top, ornate border, black, with coupons, large tear at right edge with light repair, fine £80-100 358 City of Berlin, a group of 4% internal loans comprising 1912, 500 marks (3), 1000 marks (8), 5000 marks (2); 1914, 500 marks (8), 2000 marks (6), 5000 marks (1); 1915, 200 marks (5), 1000 marks (52), 2000 marks (17), 5000 marks (4); 1919, 200 marks (5), 1000 marks (1), 2000 marks (1), attractive printing, each year in a different colour, mostly with coupons, mixed condition but mostly very fine and extremely fine. (113) £300-400

360 Berliner Grundbesitz-Actien-Fesellschaft (Berlin Freehold land Co.), a group of 4 debentures for 1000 marks or £50 and 4 debentures for 2000 marks or £100, Berlin 21st June 1881, large format pieces with text in English and German, black with green and blue-green underprints respectively, English revenue stamps, with coupons, generally about very fine and better. (8) £600-800 Only 500 mark shares of this company have so far been recorded by Suppes.

359 Actien-Brauerei Neustadt-Magdeburg, 200 thaler share, 1873, no.5582, red endorsement revaluing the share at 400 RM, very pretty piece with huge brewery building atop hillside, architectural borders, orange and brown with pale green underprint, single hole cancel, near extremely fine. £100-150

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361 Magdeburger Lebensversicherungs-Gesellschaft, 500 taler share, 1856, no.2591, overstamped with revaluation of 100 RM, ornate border incorporating females with thread and coat of arms, brown and black, good very fine. £200-250 362 Rheinisch-Westfalisches Elektrizitatswerk A-G, 1000 mark share, Essen 1922, ornate border, green and pink, red overprint reducing the share value to 400 RM; together with 400 RM share, essen 1928, ornate border, brown, green and pink, both lacking coupons but uncancelled, extremely fine. (2) £80-100

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363 Stahl-Schrauben-Dampfschiffe “Herzog Johann Albrecht” (Steel Screw Steamship “Herzog Johann Albrecht”), antheils-acte, Wismar [1901], of only 80 issued, single funnel steamship at top, ornate border, black with buff monogram underprint, 4 pages, spike hole at top left, good very fine and rare. £200-300 364 - a similar lot, spike hole at top left, good very fine and rare. £200-300 365 - a similar lot but 6 examples, spike hole at top left, good very fine and rare. (6) £1,000-1,200

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GREECE

366 Stahl-Schrauben-Dampfschiffe “Paul Podeus” (Steel Screw Steamship “Paul Podeus”), 3000 Reichsmark antheils-acte, Wismar 1899, of only 70 issued, single funnel steamship at top, ornate border, black with buff monogram underprint, 4 pages, spike hole at top left, good very fine and rare. £200-300 367 - a similar lot but 3 examples, spike hole at top left, good very fine and scarce. (3) £500-700

369 National Mortgage Bank of Greece, 7% Sterling Mortgage Bonds, a series of specimen bonds from the Bradbury, Wilkinson & Co. archive, £100 and £500, 1928 and £100, 1930 seies B, Athena standing at top, obverse and reverse of ancient Greek coin, a stater of the mint of Pheneos in Arkadia, in bottom corners, green, red and blue respectively, with coupons, the first and last with red Bradbury specimen stamp, the £500 numbered 00000, almost extremely fine. (3) £120-150

368 West Prussian Mining Company Ltd., £10 shares, series A, 18[90], no.113, issued to Admiral Commerell, black, very fine. £50-60

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HUNGARY

370 Faleron Textile Works Ltd., certificate for 1 share of 500 drachma, Piraeus 1891, large format piece with woman seated at spinning wheel, ornate border, brown and yellow, text all in Greek, with coupons, repaired tear, taped on the reverse otherwise very fine and rare. £60-80 Faleron is a small suburb of Athens.

371 A collection of Greek bonds and share certificates comprising Piraeus-Athens-Peloponnesus Railway Company, £100 bond, 1898, small vignette of allegorical figures, blue; dividend share, 1910, small vignette of steam train, brown and black; 4% Loan, 1912, £20 bond, very large format, steam train at top, green; Kerameikos Pottery Company, 1 share, 1911 (2) and 5 shares, 1911, allegorical figures with Greek pottery, view of Athens at top left; Banque du Commerce et D’Industrie de Volo, 25 shares, 1926, ploughing at top; Banque D’Athenes, 1 share, 1919, attractive allegorical figures; S.A.des Glacieres de Patissia, 1 share, 1922, ornate border with penguins and blocks of ice, and Soc. des Usines du Laurium, 1, 5 and 25 shares, 1923/4, ornate borders, generally very fine or better. (12) £80-100

372 Hungarian Central Mutual Credit Institute, 7% land mortgage sinking fund gold bond, a group of 24 bonds for $1000, 1927, vignette of building with agricultural scenes at either side, ornate border, green and black, some with coupons, uncancelled, pinholes, good very fine and scarce. (24) £500-600

373 Appony-Kovarczi Mezogazdasagi-Es Szeszipari Reszvenytarsasag, 200 kronen share, Appony 1914, no.1776, large format piece with very well dressed worker with steam engine and factory in background, text in Hungarian and German, dark blue-green, with coupons, near extremely fine. £100-150

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November 16, 2011 - London 374 Hungary: A small collection, comprising; Lloyd Bank A.G., 1 share of 400 kronen, 1923; “Haztartas” Fogyasztasi Szovetkezet (Household Consumers Cooperative), 50 korona, 1918; Bekesi Haziipari Szovetkezet (Bekesi Homecraft Co.), 100 korona, 1920; “Keve” Ruhazati Aruhaz Szovetkezet (Keve Clothing Co.), 100 korona, 1923; Magyar Mezogazdak Szovetkezete (Hungarian Co-operative), 40 pengo, 1935; Szovetkezeti Uzletresz (Co-operative Business), 10 pengo, 1932; other bonds and share certificates (7), some decorative, generally very fine and better. (13) £100-150

ITALY

376 La Luisiana S.A. Cooperativa di Assicurazioni Generali, 5 shares of 50 lire, Palermo 19[07], no.2530, attractive scrollwork border with allegorical female holding cornucopia in one hand and paper money in the other at right, Naples Exposition medal at left, black with pink underprint, good very fine. £80-100

375 Genoa and District Water Works Co. Ltd., a group of 25 first mortgage debentures for £20, 1913, numbers 2964 to 2999, large format piece with attractive vignette of Genoa harbour with lots of ships, red and black, text in English and Italian, printed by Bradbury, Wilkinson & Co., with coupons, the first and last a little creased but otherwise mostly about extremely fine. (25) £400-500

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LITHUANIA

377 City of Wilno (Vilna), 5% sterling conversion loan, a group of 5 bonds for £20, 1931, ornate border, blue and black, with coupons, very fine. (5) £100-150

378 Lithuania, Zemes Banko, 7% Loan, 1930, a specimen bond for 5000 lits, from the Bradbury, Wilkinson & Co. archives, peasant woman in wheat field at top, ornate border, red and black, with coupons, blue circular Bradbury specimen stamp at bottom, extremely fine. £80-100 379 Lithuania, Zemes Banko, 6th series, 4% loan, 1935, a pair of specimen certificates for 100 and 500 litu, 1935, from the Bradbury, Wilkinson & Co. archives, peasant woman in wheatfield at top, green and blue respectively, with coupons, red Bradbury specimen stamps at bottom, extremely fine. (2) £120-150

NORWAY 380 Bohnsdalen Wood Pulp & Paper Mills Ltd., a group of certificates for £10 shares, 18[90] to 18[95], scrollwork at left, black; together with certificates of deposit of debentures, [1899] (2 examples), black, fine to very fine, the latter with ‘valueless’ handwritten across face in red ink. (7) £80-100

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PORTUGAL 381 An attractive group of Portuguese certificates, comprising; Copanhia das Aguas Medicinaes do Arsenal de Lisboa, 10,000 resi share, 1907, vignette of building at top; Companhia Portuguesa de Algodoes, 1 and 5 shares of 100 escudos, 1920, seated woman knitting, and, Banco Colonial Portuguez, 1 share, 1918, large coat of arms with river scene and shipping at dockside, about very fine to extremely fine. (4) £80-120

384 Companhia Continental de Fosforos, certificates for 1, 5 and 10 shares of 100 escudos, Porto 1928, ornate borders, blue-green, 4 pages; together with Companhia Lusitana de Fosforos, 5 shares of 100 escudos, Porto 1928, factory at top, green and orangebrown, 4 pages, generally very fine or better. (4) £80-120

382 Public Treasury 6% Loan, 1828, 200 milreis, no, 146, an early printed certificate with denomination inserted by hand, black printing on thick paper, 4 pages, paper a little weak from prior damp, very fine. £150-200 The loan was raised for military purposes at the beginning of the civil war between Emperor Pedro of Brazil and his brother Miguel who had seized the Portuguese throne.

385 Cia das Fabricas de Garrafas na Amora, 6% bond for 40 escudos, Lisboa 19[20], no.810, large vignette of factory by the sea, ornate border, blue-green, with coupons, tiny stain at bottom edge, very fine. £60-80

383 Banco Nacional Ultramarino, a lovely set of four specimen certificates for 1, 10, 20 and 50 shares of 300 escudos, 1955 (missing the 5 shares), from the Bradbury, Wilkinson & Co. archives, very attractive designs with vignette of sail assisted steamship at top, red, mauve, blue and brown respectively, with coupons, generally extremely fine. (4) £120-150

386 Companhia Productora de Malte e Cerveja Portugalia, 500 escudo shares, certificates for 5 and 10 shares, 1946 and 1, 5 and 10 shares, 1966, all similar design of brewery building at right and vats at left, various colours, 4 pages, all with hole cancellation in the company seal, very fine and better. (5) £140-180

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Bonds and Share Certificates of the World 387 Empreza Agricola do Principe, 5000 reis shares, certificates for 5 shares, 1st issue, 1900 and 1 share and 10 shares, both 2nd issue, 1901, large format pieces with vignettes of administrative building and landscape intertwined with cocoa bean plant, blue & orange, black and brown, and red and grey-green respectively, many dividend stamps on the latter two, the first with edge tear at left just touching the design and slightly chipped edges, very fine, the others with slight spotting at edges but extremely fine. (3) £150-200

389 Empreza Tauromachica Lisbonense, certificate for 4 shares of 50$000, 1893, no.1434-1437, very attractive large format piece with bullfighter at left, herdsmen right, underprint of bullring, bull’s head and implements at top, pink & blue, 4 pages, rusty paper clip marks at sides and some spotting but otherwise very fine and rare in issued form. £600-700

388 Empreza Tauromachica Lisbonense, certificate for 1 share of 50$000, 1893, no.2377, very attractive large format piece with bullfighter at left, herdsmen right, underprint of bullring, bull’s head and implements at top, black & brown, 4 pages, very fine to extremely fine and rare in issued form. £700-800

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390 Empreza Tauromachica Lisbonense, certificate for 8 shares of 50$000, 1893, no.294-304, very attractive large format piece with bullfighter at left, herdsmen right, underprint of bullring, bull’s head and implements at top, red & pale blue-green, 4 pages, some spotting but very fine and rare in issued form. £800-1,000

394 Sociedade de Habitacoes Salubre e Economicas O Lar Nacional, 100 escudo share, Lisboa 1920 over printed 1919, no.1311, attractive piece with border of numerous houses of varying size, large houses under title, brown with yellow underprint, 4 pages, good very fine. £60-80

391 Empreza Tauromachica Lisbonense, certificate for 1 founders share, 1894, no.8, ornate border, red-brown, blue duty stamp, 4 pages, light stain in bottom margin, heavy centre fold, about very fine and rare. £60-80 392 Estrela de Portugal Empreza de Pesca, a set of three certificates for 1, 5 and 10 shares of 100$00 escudos, Lisbon 1923, rope border with stylised galleon at top, blue, yellow and mauve respectively, embossed seals, blue duty stamp, very fine to extremely fine. (3) £60-80 393 Moagem D’Elvas, certificates for 1, 5 and 10 shares of 100 escudos, Lisbon 1933, plain printing, black, green and brown respectively, very fine to extremely fine. (3) £60-80

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ROUMANIA

SPAIN

395 Kingdom of Roumania Monopolies Institute, Stabilisation and Development loan, 1929, a group of 20 bonds for £100 each, large format pieces with vignette of Bran Castle (one of the several locations for the Count Dracula legend), blue and black, with coupons, not cancelled, a few edge nicks and small tears but generally very fine and better. (20) £250-300

398 A group of Spanish mining companies comprising; La Suerte Soc. Minera en Hiendelaencina, quarter share, Madrid 185[5], couple of repaired edge tears;, S.A. Minas de Alcaracejos, Bilbao 1[898], mine buildings at top left; Minas de Carmenes, Gijon 1903, large allegorical female with train in background; Cia. de las Hulleras de Ujo-Mieres, 5 shares, 1904, very large vignettes of coal miners at work underground at top, pushing carts above ground at bottom (2 examples); Cia Explotadora de la Mina “Prevision”, 50 peseta bond, Barcelona 1922, Virgin Mary at top left; S.A. la Argentiferas de Cordoba, Bilbao 1916, mine buildings at top, green; Cie Miniere de Marbella, 250 franc share, Brussels 1911; Cia Espanola de Minas del Rif, Madrid 1935, coat of arms at top (2 examples), and, 4 different certificates of Compania General de Minas y Sondeos, all 1901, mostly very fine to extremely fine. (14) £120-150

396 Banca Agrara S.A., 1000 lei share, Cluj [1921], no.1593, large format piece with huge vignette of naked figure holding large sheaf of wheat over farmer ploughing a field, brown, black and yellow, with coupons, tiny repaired edge splits at folds, very fine. £100-120

SERBIA 397 A small group of Serbian bank certificates, comprising; Pirotska Bank, 400 dinara, 1930; Industriska Bank, 5000 dinara, 1930; Vlasotivachka Cedit Bank, 200 dinara, 1925, perforated cancelled; Homolske Bank, 1000 dinara, 1928; Krawska Agricultural Credit Bank, 3000 dinara, 1930, hole cancelled, and, Toplichke Bank, 200 dinara, 1925, all very attractive and colourful pieces, several with vignettes, most with coupons, very fine and better. (6) £120-150

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399 Five attractive Spanish pieces, comprising Compania General de Coches de Lujo, 500 peseta share, 1909, horse drawn coach at top; Sericum S.A., 500 peseta share, 1919, silk moth and textile machinery; S.A. Electrica Morellana, 250 peseta share, 1905, battery and turbine at bottom; Ribas y Pradell S.A., 500 peseta share, 1926, buildings in each corner, and, Columba Cafes y Chocolates Albino Escribano S.A., 500 peseta share, Madrid 1948, interesting art deco design, generally very fine and better. (5) £120-150 400 A useful group of all different Spanish certificates, (31) dated from 1854 to 1969 but mostly from the 1920’s, nearly all with vignettes and some are quite small issues, a handful are unissued and a few are cancelled, includes Compania Trasatlantica, Barcelona 1920, steamship at top; Banco de Cartagena, 500 peseta shares, 1900, series 1 and series 2, both with large vignette of Mercury and Argos by Velasquez; Transporte Aereo por Cables y Urbanizaciones S.A., 1 and 5 shares, 1946; Ferro Carril de Granollers a San Juan de las Abadesas, 3% bond, 1863, and, Ferro Carriles Economicos de Villena a Alcoy a Yecla y Alcudia de Crdpins, 3% bond, 1883, generally very fine and a colourful lot, well worth inspection. (31) £200-300

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401 5% Royal Loan, bond for $5000 or £1080, London 1852, no.184, ornate printing, text in Spanish, English on reverse, black, some chipping at right hand corners, about very fine. £160-180

403 “Colón” Compañia Transaerea Española, a group of 21 certificates for 250 bonds, series A, Madrid 1928, large airship at top, ornate border, green with orange underprint, with coupons (16) and with coupons removed (5), generally extremely fine. (21) £200-300

Issued in London, by Carlos VI, second Carlist claimant to the throne of Spain, whilst living in Naples. Payment would only be made on recognition of his title to the throne or on his entry into Madrid. The second Carlist Civil War was fought mainly in Catalonia from 1846 until 1849 402 Caja Universal de Capitales (Compania general de seguros mutuos), certificate for 1000th interest, Madrid 1859, no.16, issued to the founder of the company Sr.Francisco de P. Retortillo, attractive border of scrollwork, allegorical male with key and strongbox at top, caduceus, hat of Mercury, anchor etc. at bottom, black with yellow underprint, small repaired edge tears, good very fine. £60-80

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Bonds and Share Certificates of the World 409 South Eastern Railway of Spain Ltd., 4 bearer scrip certificates for “fully paid obligations”, 18[85], decorative border, black with embossed seal, one with uneven left edge otherwise good very fine. (4) £60-80

SWEDEN 410 Kreuger & Toll Co. (Aktiebolaget Kreuger & Toll), a group of American certificates issued in exchange for deposited debentures with Lee, Higginson Trust Company, comprising, New York register, 100 certificates, orange (7), less than 100 certificates, green (15), Boston register, 100 certificates, orange (5), and less than 100 certificates, green (15), all dated between 1929 and 1939, allegorical female with winged wheel, mixed condition but many are very fine and better. (42) £100-150

SWITZERLAND

404 La Hispano Suiza Fabrica de Automóviles, 500 peseta share, 3rd issue, Barcelona 1906, no.1007, attractive Art Nouveau design with elegant lady in flowing dress, motor car in the background, blue, dark green and red, no coupons remaining as usual, good edge at right, 3000 issued, extremely fine. £140-180 405 San Cebrian Railway and Collieries Company Ltd., a group of 20 certificates for £10 ordinary share, and 20 certificates for £10 preference share, all dated 188[5], scrollwork to left, black generally extremely fine. (40) £250-300 406 - a similar lot but 50 of each type, generally extremely fine. (100) £300-400 407 - a similar lot but 193 ordinary shares and 178 preference shares, a few damaged but the majority are very fine to extremely fine. (371) £600-800 408 Société des Mines de Cabo de Palos, a group of 13 certificates for one share of 100 francs, Paris 1907, attractive pieces with vignettes of coal drilling apparatus, tools and loaded wagons, green with yellow underprint, with all coupons, extremely fine and better.

(13) £150-200 www.spink.com

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410A Société du Chemin de Fer Électrique Rolle-Gimel, 41⁄ 2 % bond for 100 francs (of 1200 issued), Rolle 1900, no.18, ornate border, red and blue with pale blue underprint, hole cancelled, good very fine and rare. £100-120

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YUGOSLAVIA 411 Kingdom of Yugoslavia, 1931, 7% International Loan, a group of 35 bonds for 100 francs, ornate borders, red-brown, text in French and Cyrillic, with coupons, very fine to extremely fine. (35) £80-100

GREAT BRITAIN AND IRELAND Government Loans

413 £3 10s per cent War Loan, bearer bond for £100, London 1932, fascimile signature of N.K.WarrenFisher as secretary to the Treasury, ornate border, brown and black, on Bank of England watermarked paper, with coupons, stamped CANCELLED, almost extremely fine and very rare £80-100

412 Treasury Warrant dated 25th April 1750, addressed to Robert Walpole, 1st Earl of Orford, auditor of the Receipt, authorising the payment of £39631 6s 101⁄ 2 d being the deficiency in the duties on glass and spirits in 1749, signed by Henry Pelham, First Lord of the Treasury 1743 - 1754, George Grenville, Lord of the Treasury, 1747 and later becoming Prime Minister 1763-1765 and Henry Vane, 1st Earl of Darlington, c. 1705 to 1758, entirely manuscript document, torn in half as is usual and rejoined, fine to very fine. £150-180

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Canals

414 Grand Junction Canal, certificates for one eighth, one quarter and one full share, 1808, 1808 and 1803, vignette of the company seal at top, black, all with some water staining, fine to about very fine. (3) ÂŁ300-400

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415 Kennet and Avon Canal Navigation, share ticket, 1808, no.9247, black, on thick paper, blue paper seal, good very fine and scarce. ÂŁ180-220

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November 16, 2011 - London 419 North Walsham & Dilham Canal, one share of £50, 18[25], no.210, attractive black printing, on vellum, red seal at left, very fine. £120-150 420 Somersetshire Coal Canal Company, Lock Fund, certificate for one share number 2340, 18[03], small format, black on thick paper, waxed seal, good very fine. £150-180 According to the text, only shareholders in the Kennet & Avon Canal were permitted to subscribe to this undertaking.

421 Thames and Severn Canal-Navigation, certificate for one New Share, 18[09], no.1951, red printing, on vellum, together with a printed ‘Second Duplicate’ transfer certificate for original shares, [1793], black, original signatures, the first with slight discolouration, good very fine, the second about very fine. (2) £150-200

416 Manchester Ship Canal Co., a specimen redeemable Debenture for £100, 1934, from the Bradbury, Wilkinson & Co. archive, large format piece with vignette of steamship at top, red with green underprint, blue specimen medallion at bottom, extremely fine. £60-80 417 Newry Navigation Company, certificate for £50 share, 183(4), no.83, issued to the Earl of Kilarney, lovely vignette of boats on river with castle in background, black printing, on vellum, good very fine. £200-250 Begun in 1731 and closed in the 1950’s. This company formed in 1829 to acquire the canal which was later passed to the Newry port and Harbour Trust.

418 North Walsham & Dilham Canal, one share of £50, 18[13], no.30, attractive black printing on vellum, red paper seal, very fine £150-180

422 Witham Navigation, certificate for 1 share, 18[49], no.1209, black printing, on vellum, a nice looking late dated example, tri-folded, very fine. £100-120

Railways 423 A small group of English and Scottish Railway certificates, comprising Midland Railway Company, £10 4% preference share, 1878; Northern Counties Union Railway Company, one share, 1846; London, Midland and Scottish Railway Company, ordinary stock certficate, 19[32]; Great Northern Railway Company, £25 share, 1846, and, Ayr and Maybole Junction Railway Company, £10 shares, 18[57], the last with small area of damage at extreme top edge otherwise good very fine to extremely fine. (5) £60-80 424 A small collection of 34 different British and Irish registered railway certificates, including Cornwall Railway, £50 share, 1846; Forest of Dean Central Railway Co., £10 share, 1864; Waterford and Limerick Railway Co., £50 share, 1845, trimmed and bottom corner cut off; Aylesbury & Buckingham Railway Co., £25 share, 1867; South Wales & Northamptonshire Junction Railway, scrip for one share, 1853; Southern Railway Co., B debenture stock, 1991; Navan & Kingscourt Railway Co., £10 share, 1871; London, Chatham & Dover Railway Co., preferred share B, 1864 and Western Jamaica Connecting Railway from Old Harbour to SavannahLa-Mar & Montego bay, 10 shares, 1845, several of the remainder are unissued and several are cancelled, fine to extremely fine and well worth viewing. (34) £300-400 Page 73

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Bonds and Share Certificates of the World 429 - another similar but 3 examples, no’s 53160, 53159 and 53190, very fine or nearly so. (3) £120-150 430 Eastern Counties Railway Co., Extensions from Cambridge to York and Tottenham to Farringdon Street, 2 shares of £20, undated, circa 1840, no.1350, ornate border, pink and black, printed by Whiting, good very fine. £60-80

425 Channel Tubular Railway Preliminary Company Ltd., certificate for 5 founders shares, London 1892, very attractive piece with vignettes around border of English and French coast, ships with tube resting on the seabed, black and yellow, extremely fine. £100-120 426 Darlington and Barnard Castle Railway, £20 share, 185[4], no.3327, black, good very fine to extremely fine. £50-60

431 Girvan & Portpatrick Junction Railway Company, share certificate, 187[1], no.169, early steam train with passenger and goods wagons, black, green underprint, tiny piece missing from bottom left corner, very fine. £120-150

427 East London Railway Company, £20 share, 1865, no.53189, attractive black printing, red overprint FULLY PAID, very fine and scarce. £60-80 A steam hauled service that was opened in 1869 initially from New Cross Gate station to Wapping crossing the Thames using Brunel’s tunnel. Later extended to Shoreditch. Became part of London Underground in 1933 and subsequently the Overground network.

428 - another similar but no.53188, tiny ink mark, very fine and scarce. £60-80 www.spink.com

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432 Great North of England Railway Co., £100 share, 18[36], no.665, chain at left with names of towns through which the railway passed on each link, black, embossed seal, good very fine. £120-150

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November 16, 2011 - London 437 London Chatham & Dover Railway Company, City Lines Shares, pair of certificates for £10 deferred share ‘A’ and £10 deferred share ‘B’, both 1864, both issued to Sir Samuel Morton Peto, black with red and blue overprints respectively, printed by Waterlow & Sons, good very fine and better. (2) £50-60 Sir Samuel Morton Peto was a partner in the famous engineering firm of Peto & Betts which failed in the wake of the Overend Gurney banking crash of 1866.

433 Lancashire Derbyshire & East Coast Railway Co., £10 ordinary shares, 1894, no.1025, lovely vignette of steam locomotive at top left, black, pink underprint, printed by Waterlow & Sons, stamped CANCELLED on face, endorsement on reverse shows through to front otherwise very fine. £150-180

438 Newcastle & Berwick Railway Company, £25 share, [1845], no.28,168, attractive coat of arms in scrollwork at left, black, stamped CANCELLED twice on face, good very fine. £50-60 439 Northern Counties Union Railway Co., a group of 10 certificates each for one share, 1846, scrollwork at left, black, very fine to extremely fine. (10) £80-100

434 Leeds and Thirsk Railway Company, £50 share, 1845, no.15430, black printing on vellum, small filing hole at top left, good very fine and scarce. £80-100

440 South Durham and Lancashire Union Railway, £25 share, 1857, no.8807, black, extremely fine. £50-60

435 London & Croydon Railway Co., a scrip certificate for New Shares, London 1845, no.262, yellow-green print, handsigned by two directors and the secretary, tiny edge tear at top, very fine. £150-180

441 Stockton & Darlington Railway Company, an unissued debenture, circa 1860, large format piece plainly printed in black but with attractive coupon sheet in blue and black, no denomination inserted, good very fine and scarce. £80-100

436 London and South Western Railway, an extremely interesting pair of scrip certificates for one share of £50, 1847, one, no.1370 apparently a genuine issue on Smith & Ebbs watermarked paper, red printing, signed by the directors but not the treasurer, ink cancelled on face, the other, no.1507, with identical printing, signed by two directors and the treasurer but stamped FORGED in several places, and the paper appears to have had the ‘watermark’ added afterwards, very fine. (2) £100-120 These are an excellent illustration of the problems created by the issue of ‘bearer’ scrip such as these. The forged certificates could be traded and money passed before anyone became aware of the fraud. Bearer issues such as these were soon discontinued.

442 Tees Valley Railway Company, £25 share, 1866, no.1224, black on yellow paper, together with £6 preference share, 1875, no.321, black on grey paper, both issued to the North Eastern Railway Co., the first with small paper thin and chip from top margin, about extremely fine and extremely fine. (2) £80-100 443 Ulster Railway Company, £50 share, 18[36], no.266, black printing, on vellum, red paper seal, slight discolouration as is usual, extremely fine. £150-180

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Bonds and Share Certificates of the World

Tramways and Cabs

447 Douglas Head Marine Drive Ltd., £1 fully paid ordinary shares, 19[29], no.770, vignettes of Isle of Man and tram route, black; together with £1 fully paid preference shares, 19[29], red good very fine. (2) £60-80

444 Underground Electric Railways Co., a specimen Power House debenture for £1000 from the Bradbury, Wilkinson & Co. archive, 190-, attractive vignette of snarling tiger in centre, ornate border, red and black, with counterfoil, overprinted SPECIMEN at bottom, good very fine. £150-200

Electric tramway running from Douglas Head to Port Soderick. Opened in 1896 and operated until 1939.

448 Electric Tramcar Syndicate Ltd., £10 ordinary shares and £10 preference shares, 189[1] and 18[91], black on green and black respectively, very fine. (2) £50-60 Company operated Jarman electric cars for London Tramways Co.

445 West Cornwall Railway Company, £20 share, 184[6], no.6080, small coat of arms in centre, black, red paper seal, about extremely fine. £60-80 446 York and North Midland Railway, Scarborough extension, one share of £5, £2 10s deposit paid, York 1844, signed by George Hudson as Chairman, small format, scrollwork at left, black, about very fine and a rare signature of the ‘Railway King.’ £150-200

449 Gas Traction Company Ltd., £1 shares, 189[4], no.84, lovely piece with vignette of tramcar, Britannia in scrollwork at left, blue, printed by Waterlow & Sons, good very fine. £80-100

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November 16, 2011 - London 450 - another similar but no.85, good very fine. £80-100 451 - another similar but no.78, good very fine. £80-100 452 - another similar lot but 6 examples, 5 are good very fine, one only about very fine with surface dirt. (6) £300-400 453 Gas Traction Co. Ltd., a group of 39 5% debentures for £100, 189[4], large format pieces with ornate border, blue, printed by Waterlow & Sons, a little surface dirt but generally very fine and better. (39) £300-400 454 London General Cab Company Ltd., £10 shares, 187[7], no.1285, Maltese crosses at top, black, good fine and a little dirty around the edges. £50-60 Horse drawn cab company whose General Manager was William Elbert Dando a signatory on the certifcate.

Comments posted by one his ancestors suggest he was an interesting character: “William led a colourful life which included travel, assault, bankruptcy, bad business practices and perhaps even corruption, a warrant for his arrest, an unsuccessful divorce petition, kidnap and bigamy. He might have been a flamboyant character, well equipped to carry off his shady business dealings but, the fact he and his family felt the need to adopt an alias at one stage, shows just how close he must have sailed to the wind.”

Shipping Companies 455 A small collection of larger shipping companies, comprising; Elder Dempster & Co. Ltd., 1914, green & 1928, red; Lamport & Holt Ltd., 1917 and 1927, different capital; Royal Mail Steam Packet Co., 7 different types, 1912 to 1929; Anglo-European Steamship Co. Ltd., ordinary and preference shares, both 1920; Western Counties Shipping Co. Ltd., 1920, two examples with different capital, and, Gould Steamships & Industrials Ltd., 1920, a few with vignettes, generally very fine and a useful lot. (16) £150-200

456 A collection of different shipping companies, comprising; Rock Ferry Co. Ltd., 1885; Great Yarmouth Steam Trawling & Carrying Co. Ltd., 1873; Boston Deep Sea Fishing and Ice Co. Ltd., 1887; Elder Dempster & Co. Ltd.(2); Lamport & Holt Ltd., (2); Royal Mail Steam Packet Co., 5 different types; Western Counties Shipping Co. Ltd. (3); Gould Steamships & Industrials Ltd., and, others (14), mixed condition but those mentioned are generally very fine. (30) £200-300 457 An accumulation of British shipping certificates, with some duplication, including; Elder Dempster & Co. Ltd. (2); Lamport & Holt Ltd. (3); Royal Mail Steam Packet Co. (9, 3 types); Anglo European Steamship Co. (12, 2 types); Western Counties Shipping Co. Ltd. (18, 2 types); Gould Steamships & Industrials Ltd. (6), and, others (6), mixed condition but many are very fine. (56) £250-350 458 Shipbuilding: An accumulation of certificates including; Thames Iron Works Ship Building, Engineering & Dry Dock Co. Ltd., 1864; Tydvil Engineering & Ship Repairing Co. Ltd., 1922; Eltringhams Ltd., 1920, facsimile signature of Clarence Hatry, shipping vignettes (4, 2 types); Irvine’s Ship Building and Dry-Docks Co. Ltd., 1920 & 1923, facsimile signatures of Clarence Hatry; Ropner Shipbuilding & Repairing Co. (Stockton) Ltd., 1923 (2 types); Northumberland Shipbuilding Co. Ltd., 1920 (10, 2 types), and, Palmers Shipbuilding and Iron Co. Ltd., 1927-1934 (8, 4 types), mixed condition, fine to very fine. (28) £150-200 459 British Submarine Boat Company Ltd., £1 shares, 190[5], no.99, issued to General Nathaniel Stevenson (Lieutenant Governor of Guernsey), ornate borders, blue, heavy creasing otherwise about very fine £60-80

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Bonds and Share Certificates of the World 464 Llanelly Iron Shipping Company Ltd., £3 15s shares, fully paid, 188[0], nos. 186 and 460, scrollwork on left, black, printed by Waterlow, Bros & Layton, good fine. (2) £50-60 465 New South Western Steam Navigation Co., £10 share, 18[47], no.5270, scrollwork at left, black on buff paper, perforated CANCELLED, extremely fine. £80-100

460 Cunard Steam Ship Co. Ltd., mortgage debenture stock certificate, 190[10], no.1559, vignette of 4 funnel steamer, blue, good very fine. £120-150 461 Elder Dempster and Co. Ltd., 6% preference shares, a group of 14 certificates dated between 1920 and 1932, all the same type with share capital £15, 435,000, steamship in centre, green with pink underprint, mixed condition but most are very fine or there about. (14) £150-200 462 Greenwich Ferry Company Ltd., £100 mortgage debentures (2), 188[7], no’s 199 and 200, large format with attached note “court ordered sale of Co.’s property by auction”, black with red embossed revenue stamp, about very fine. (2) £50-60 463 Leith, Hull and Hamburg Steam Packet Company, a specimen certificate for £100 shares, 18- (printer’s annotation for 1880), from the Bradbury, Wilkinson & Co. archives, scrollwork at left, black, with counterfoil, slightly grubby surface, good very fine. £80-100

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466 Thames Steam Ferry Company Ltd., £10 shares, 18[76], no.13, lovely vignette of ferry at Thames station, brown and black, embossed seal depicting busy riverboat scene, brown, printed by Waterlow & Sons, slightly uneven left edge but extremely fine. £120-150 467 Town Line (London) Ltd., 4 different ordinary share certificates comprising; 1918, green, with red flag in scrollwork at left; 1920, green, no flag, both capital £250,000; 1920, blue, and 1921, green, both capital £1 million, very fine or better, the first scarce. (4) £60-80 468 - another similar lot of 4 examples, generally very fine, the first scarce. (4) £60-80 469 White Star Line Ltd., three different preference share certificates comprising 1927, capital £9 million, 1928, similar but with variation in the text layout, and 1930, capital £11 million, all with scrollwork at left with company flag, red, about very fine to good very fine. (3) £60-80

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November 16, 2011 - London 470 White Star Line Ltd., a group of preference share certificates (17), capital £9 million, 1927 (12), 1928, second type (2), and £11 million, 1931, 1932 and 1935, all with company flag in scrollwork at left, red, mixed condition but mostly fine to about very fine. (17) £200-300 471 Woolwich Steam Packet Co., an attractive copper printing plate, circa 1880, for £5 shares, vignette of the paddle steamer ‘Ariel’, 305mm x 202mm, some minor verdigris but in good undamaged condition. £60-80

Aviation 472 Aircraft Disposal Company Ltd., 2 shilling preference shares, 192[4], no.52, and 1 shilling ordinary shares, 192[5], no.199, both with ornate border, green and black respectively; together with another certificate for 1 shilling ordinary share, 19[24], using a Jordan & Sons stock form, all three have the name of the company amended to A.D.C.Aircraft Ltd., about very fine. (3) £100-120 Formed in 1920 to acquire surplus aircraft and spares belonging to the then declining RAF. Main store at Waddon aerodrome, Croydon, Surrey. Modifications were made to various machines and in 1926 several ADC 1’s were sold to Latvia. Liquidated in1930.

474 Whitehead Aircraft (1917) Ltd., £1 ordinary shares, 19[18], no.911, signed by James Whitehead and Digby Whitehead as directors, vignette of airfield flanked by small bi-planes, underprint of bi-plane below, green and black. good very fine., Founded by John Whitehead in 1915 but reorganized in 1917 on being given a contract to build Sopwith and Farmans under licence. Liquidated in 1919 on cessation of war contracts. £120-150

Motor Cars and Cycles

473 Hillman’s Airways Ltd., 5 shilling shares, 19[35], no.1566, issued to Squadron Leader George Dermot Daly (subsequently Air Chief Marshal), decorative border, brown, good very fine. £80-100 Company originally formed in 1931 by Edward Henry Hillman. Airline began a scheduled service between Romford and Clacton using de Havilland Dragons and Fox Moths. The fare was £1 return. Later set up a service to Paris and gained contracts to fly mail between London, Liverpool, Glasgow and Belfast. Merged with other airlines in 1935 to form British Airways.

475 Argyll Motors Ltd., £1 ordinary shares, 19[06], no.3076, vignette of motor car in scrollwork at left, red, very fine. £60-80 Motor car manufacturer based in Glasgow, commencing with a small de Dion type voiturette. By 1904 the company were Scotland’s leading manufacturer and a large new factory was built at Alexandria, near Glasgow. Despite being the 5th largest producer in Great Britain it failed from lack of funds in 1914.

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Bonds and Share Certificates of the World 476 Beeston Cycle Company Ltd., a pair of certificates for £1 ordinary shares, fully paid, 189[8], no.909 and £1 preference shares of £1, fully paid, 189[8], no. 908, both issued to the same shareholder, stylized wheel within scrollwork at left, black and blue respectively, about very fine. (2) £80-100 See historical note in lot 477.

478 British Motor Syndicate Ltd., £1 shares, 189- (date not completed in error), no.2636, double headed eagle at left, black, uneven left edge where removed from counterfoil but otherwise good very fine and rare. £150-200 This was Harry J Lawson’s first attempt at monopolising the motor car industry by acquiring the Daimler patents (hence the double headed eagle vignette) and charging other companies for their use.

477 Beeston Motor Co., Ltd., a pair of certificates for £1 ordinary shares, fully paid, and 5% preference shares both dated 189[8], and numbered 908, both issued to the same shareholder, stylized wheel within scrollwork at left, brown and green respectively, about very fine. £80-100

479 Curtis Automobile Co. Ltd., £1 shares, overprinted 10 shillings, 19[20], no.61, signed by T H Curtis, blue, good fine but file holes on left. £50-60 Company had the concession for French made Voisin light cars and was agent for Lancia

The Beeston companies, Beeston Motor, Beeston Tyre and Beeston Cycle, formed part of the Harry Lawson Group.

These companies operated from the Quinton Works in Parkside, Coventry, until the group was either wound up or reorganized at the turn of the 20th century. During World War I, the factory produced munitions for the war effort and engines for Hispano-Suiza and Renault aircraft. The Swift Motor Company took over the premises which is now the Ibis Hotel.

480 Leyland Motors Ltd., 7.5% cumulative preference shares of £1, 19[38], no.9727, vignette of lorry top centre, scrollwork on left, brown, good very fine and scarce. £50-60 www.spink.com

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November 16, 2011 - London 481 New Cycle Company Ltd., 2 certificates for £1 shares, 189[6], vignette of bicycle at top and scrollwork to left, issued to Percy Scawen Wyndham, MP for Cumberland West, overstamped “First and final distribution of surplus assets 1898”, dark blue, very fine and fine. (2) £50-60 482 Straker-Squire Ltd., a group of certificates comprising £1 shares, fully paid, 19[17], no.427, capital £175,000, ornate border, brown; £1 shares, fully paid, 19[19], no.4081, capital £500,000, ornate border, blue; First Mortgage debenture stock, 19[26], no.900, black, green underprint, and, Second Mortgage debenture stock, 19[21], no.1317, black, pink underprint, about very fine to extremely fine. (4) £60-80 483 Swift of Coventry Ltd., £1 preference shares, 19[28], no.46, brown, good very fine;, together with Swift Cycle Company Ltd., 2 x £100 debentures, 1902, large format, black, good very fine. (3) £60-80

Piers, Docks and Harbours 484 Dry Docks Corporation of London Ltd., partially paid £10 preference shares, 188[6], scrollwork at left, black, “Six per cent Preference Shares” at top in red, large red paper seal bottom left, one missing, about very fine. (5) £100-120 Issued to Hon. James Burke Roche, the greatgrandfather of Diana Princess of Wales.

485 London Dry Docks Copany Ltd., small group of £10 ordinary shares (2) and £10 preference shares (2), dated 188[5], issued to James Burke Roche, black, 3 with red paper embossed seal and one with just embossed seal, fine to very fine. (4) £80-100

Banks, Insurance and Finance Companies 486 C. de Murietta & Co. Ltd., a set of three 5% debentures for £100, £500 and £1000, 1891, the first signed by A. de Murietta, the second by C. de Murietta and the last by both C. de Murietta and J. de Murietta, large format with ornate borders, black with blue, green and red underprints respectively, printed by Bradbury, Wilkinson & Co., with coupons, about extremely fine. (3) £80-100 The Muriettas were wealthy Spanish and Latin American merchants who became embroiled in the Argentine debt crisis in 1890-2 which brought down the house of Baring. Barings were saved but Muriettas failed shortly afterwards.

487 C. de Murrieta & Co. Ltd., a set of 3 specimen debentures for £100, £500 and £1,000, 1891, from the Bradbury, Wilkinson & Co. archive, large format, ornate borders with blue, green and pink underprints respectively, with coupons, about extremely fine. (3) £60-80 488 Cox & Co., a batch of 13 ordinary share certificates and 6 preference share certificates dated 19[11] 19[21], several signed and issued to Cox family members and other bankers such as Hammersley and Hoare, ordinary shares red and preference shares black, some annotations but generally very fine. (19) £100-150 Military bankers and issuing house, acquired by Lloyds in 1923.

489 Credit Foncier of England Ltd., £50 debenture, May 1873, no.B2080; £100 debenture, November 1873, no.C4666 and £50 debenture, 18[75], no.0042, the first two of similar design with scrollwork at left, black with denomination in underprint, the last with ornate border, blue and black, all with coupons, fine to very fine. (3) £60-80 490 Credit Foncier of England Ltd., a group of 4 debentures for £100, November 1873, scrollwork at left, black with red underprint of denomination, together with a £50 debenture, 18[75], large format, ornate border, blue, all with coupons, creased but fine to very fine. (5) £80-100 491 Liverpool Colquitt Street Tontine, one share, Liverpool 180[10], no.34, black printing, on vellum, ink endorsement, slightly discoloured, good very fine. £60-80 Early life insurance piece with benefits going to the last surviving member.

492 London & Provincial Carriage Insurance Co. Ltd., a group of 10 certificates for £5 shares, 18[76], nos.880-889, printed heading amended by hand to insert “Horse and” ahead of “Carriage” and increased capitalization, decorative border, black, the top piece a little discoloured otherwise good extremely fine. (10) £60-80 493 London & Westminster Bank, a group of 5 certificates for £100 shares, £20 paid, 186[2], large heading, 186[4] and 186[9] and 18[79], smaller heading, (2 examples), black with blue or pink underprints, heavy folds and a couple with small tears, fine but rare early issues. (5) £80-100

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Bonds and Share Certificates of the World 494 London & Westminster Bank Ltd., a group of 31 certificates for £100 shares, £20 paid, 1883 to 1908, black printing with pink or pale pinkish green underprint, 4 varieties of printing noticed, generally very fine but many are better. (31) £200-250 x495 Overend, Gurney and Co. Ltd., £50 share, £15 paid, 1865, no.65642, scrollwork at left, black, extremely fine; together with other certificates (24), including Prudential Assurance Co., 1870; Quincy Mining Company of Michigan, 1864; City of Montreal, 3% permanent debenture stock, 1924, and others, mostly modern American, generally very fine and better. (25) £60-80

Mining and Quarrying 498 An accumulation of British mining certificates (29), mostly coal and iron but including 4 examples of Mount Wellington Ltd., 1937 (2 types), one of the last tin mines to operate in Cornwall, also including Chapel House Colliery Co. Ltd., £1 debentures, 1876 (3); Snowdown Colliery Ltd., 1909, small vignette of headgear; Albion Steam Coal Co. Ltd., 1912 and 1914, the balance with some duplication, mixed condition, mainly fine to very fine, a few better. (29) £150-180 499 Boscaswell Downs Tin & Copper Mines Association Ltd., £3 ordinary shares, 187[2-3], embossed seal and logo depicting Prince of Wales feathers, 1d revenue stamp, black, creased, otherwise fine to very fine. (4) £120-150 Mines located near Penzance, Cornwall.

496 Royal Bank of Scotland, a rare transfer certificate for £1000 stock in the Bank at 205%, 1810, a printed form with manuscript insertions, black on thick paper, slightly grubby surface, about extremely fine. £100-120

500 Castle-An-Dinas Tin Mining Company Ltd., St. Columb, Cornwall, £2 shares, 187[2], capital £10,000, together with £2 shares, 187[2] and 187[3], as previous but capital increased by hand to £15,000, and, £2 shares, 187[3], different printing and capital now £15,000, black, fine to very fine, the last two somewhat toned. (6) £150-200 501 Cornwall Great United Mines, 10 shares of £12, undated but probably 1837, no’s.5631-5640, ornate border, blue and black printing, on vellum, printed by Whiting, good very fine. £100-120 502 Crenver & Wheal Abraham United Mines Co. Ltd., a group of three certificates for £2 shares, 187[1], black, embossed seals, fine to very fine and scarce. (3) £100-150 503 Governor and Company of Copper Miners in England, £25 preference share, 185[9], no. 485, large embossed seal, black and red, a little discoloured but very fine. £40-50 One of the oldest companies, incorporated by Royal Charter in 1691.

497 Yorkshire Insurance Company Ltd., £2 10s shares, 10s paid, 19[47], no.7563, vignette of York Minster top centre and scrollwork at left, black, printed by Waterlow & Sons, good very fine. £40-50 www.spink.com

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504 New Great Work Tin Mine Ltd., a group of 5 certificates for £50 shares, 189[0], issued to Charles Praed, MP for St Ives, black, good very fine, pin holes top left. (5) £150-180 Company located 3 miles West of Helston, Cornwall.

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November 16, 2011 - London 505 New Welsh Slate Company Ltd., £1 preference shares, 18[93] to 18[96] (6 examples), £1 ordinary shares, 18[93] and preference shares (1895), 18[97] (2 examples), all with scrollwork at left, blue, black and red respectively, very fine. (9) £80-100

511 Phoenix Silver Lead Mining Company Ltd., a group of 10 certificates for one £10 share, 1872, very ornately printed piece using many different fonts, black, purple paper seal at bottom right, about extremely fine. (10) £150-200 506 Old Trewether Consolidated Mining Company, a group of 10 bearer certificates each for 5 shares of £1, 185[4], black, generally extremely fine. (10) £120-150 Company mined antimony, silver, lead, copper and manganese near Endellion, North Cornwall. David Cameron’s baby given Endellion as his third name to mark the fact that the Camerons’ were staying near there at the time of birth.

507 - another similar lot, generally extremely fine. (10) £120-150 508 - another similar lot but 30 examples, generally extremely fine. (30) £350-450 509 - another similar lot but 50 examples, generally extremely fine. (50) £500-600 510 - another similar lot but 98 examples, generally extremely fine but a handful with some damage. (98) £800-1,000

512 - another similar lot of 10, about extremly fine. (10) £150-200 513 - another similar lot of 10, about extremly fine. (10) £150-200 514 - another similar lot but 30 examples, one somewhat stained otherwise generally about extremly fine. (30) £300-400 515 Red Rock Lead Mining Company Ltd., £2 shares, 18[79], scrollwork at left, black about very fine. (3 examples) £60-80 516 South Staffordshire Mines Drainage Commissioners, a group of 20 certificates for £20 “payable in respect of arrears of interest”, 1892, numbers 863 to 881 and 1545, engraved by Waterlow & Sons, decorative format with vignette of working miner on left, turquoise and black, very fine to extremely fine. (20) £80-100 517 West Cork Mining Company, £50 share, [1836], no.1508, black printing, on vellum, very fine. £60-80 Situated on the West Coast of Ireland. Company was incorporated by Act of Parliament.

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Bonds and Share Certificates of the World 518 West Cork Mining Company, London, a group of 10 certificates for one share of £50, [1835], black on thick paper. Company situated on South West coast of Ireland, incorporated by Act of Parliament, good very fine and better. (10) £200-250 519 - a similar lot but 15 examples, about very fine, several better. (15) £250-300 520 Whiston Collieries Co. Ltd., a group of 5% debentures for £100, 1896 (20), large format, black, good very fine. (20) £100-120

523 East London Water Works, certificate for 1 share of £100, original issue, 1807, no.284, attractive black printing on vellum, red waxed seal, good very fine and clean. £80-100 524 East London Water Works, certificate for one share of £100, additional capital, 1831, no.4057, attractive black printing on vellum, red waxed seal, good very fine and a very clean example. £60-80 525 East London Water Works, certificate for one NEW share, 1810, no.3032, attractive black printing, on vellum, red waxed seal, together with a related transfer certificate, also on vellum, slightly discoloured vellum but very fine. (2) £80-100

521 Ynisarwed Resolven Colliery Company Ltd., a group of 20 certificates for one £25 share, partly paid, 187[3], numbers 1497-1516, small circular vignette of coal wagon, black, spike hole top left otherwise extremely fine. (20) £100-150 Welsh colliery eventually abandoned in 1875.

Gas And Water Companies 522 Belfast Gas Light Company, 10 certificates, each for one “old” share of £80, 18[55], attractive blue and black printing, embossed pale blue paper seal depicting lady under lamp post at bottom right, pin holes top left otherwise good very fine. (10) £80-100

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526 Pontypridd Gas Light and Coke Company, a group of 10 certificates each for £10 share, dated 185[2], issued to Revd George Thomas, a local magistrate, circular vignette showing town’s famous bridge across the Taff with the then largest span of any in Britain, black on blued paper, good very fine. (10) £120-150

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November 16, 2011 - London 527 - another similar lot, good very fine. (10) £120-150 528 - another similar lot but 30 examples, mostly good very fine. (30) £240-280

Telephone and Telegraph 529 Electric Telegraph Company of Ireland, 3 certificates, each for 5 shares of £1, 185[2], black, together with Mediterranean Electric Telegraph (John Brett & Co.), 1 share of £10, London 185[4], black and red, all nearly extremely fine. (4) £100-120 530 Telautograph Company Ltd., £1 ordinary shares, fully paid, 18[96], no.60, scrollwork at left, brown, very fine. £50-60 The telautograph, an early ‘Fax’ machine for transmitting handwriting by telegraph equipment was invented in the U.S.A. by Elisha Gray in 1888. This company was set up for exploiting the patents in the United Kingdom. The Telautograph Corporation continued for many years and many mergers before being absorbed in Xerox in the 1990’s.

531 Telephone Companies:A group of 3 specimen share certificates from the Bradbury, Wilkinson & Co. archive comprising; Lancashire & Cheshire Telephone exchange Co. Ltd., £1 shares, 188-, blue; National telephone Co. Ltd., 41⁄ 2 % debenture stock, 18(annotation for 1888), green, and, Northern District Telephone Co. Ltd., £5 shares, 188-, red, all with counterfoils attached, the last with a single centre crease otherwise all extremely fine or better. (3) £80-100

Hotels and Breweries 532 Berners Hotel Ltd., a group of 6% debentures for £100, 1893 (43), black, 4 pages, generally extremely fine. (43) £150-200 Built on the site of Fauntleroy’s Bank in Berners Street, London, W1, which occupied one of the 5 classic houses converted in 1892 into this 4 star Hotel.

533 Braime’s Tadcaster Breweries Ltd., a pair of certificates for £10 preference shares, 18[99], no.66, and debenture stock, 1[899], no.140, both signed by Benjamin Braime as director, attractive printing, black with orange and green underprints respectively, red paper seals, good very fine. (2) £80-100

534 London Bridge Railways Terminus Hotel Company Ltd., a group of 10 certificates for one share of £5, 186[0], vignette of hotel, black, all extremely fine. (10) £150-200 535 - a similar lot, all extremely fine. (10) £150-200 536 - another similar lot but 66 examples, mostly very fine and better but some with minor tears on left following uneven separation from stub. (66) £500-600

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Bonds and Share Certificates of the World 537 Sandow’s Cocoa and Chocolate Co. Ltd., £1 ordinary shares, 191[2], numbers 7 to 20, all signed

by Eugen Sandow and issued to Sandow Ltd., numbers 101 to 106, issued to Eugene Sandow and signed by different directors, number 293, also issued to Eugen Sandow and signed by A.W.Gamage as director; £1 preference shares, 191[2], numbers 2225 and 2226, signed by A.W.Gamage as director, number 2596, issued to Sandow Ltd., all brown, printed by Waterlow & Sons; Sandow Ltd., £100 debentures, 189[9], numbers 12 to 38 and 45 to 50, all issued to Eugen Sandow and signed by Warwick Brookes and Warwick Brookes Jnr. as directors, numbers 94 to 100, issued to Warwick Brookes and signed by Eugen Sandow and Warwick Brookes Jnr as directors, brown, mostly very fine and better and an interesting lot. (60) £250-300

Sport and Recreation 538 Albert Exhibition Palace Ltd., a group of 6 certificates for £5 shares, 188[3], embossed seal showing Prince Albert and glass Palace, black; together with Albert Palace Association Ltd., two certificates for £5 shares, one dated 18[84], the second undated in error but fully issued, black, generally good very fine some folds. (8) £120-150

542 Brixton Stadium Ltd., £1 preferred ordinary shares, 19[32], no.40, vignette of racing greyhound at top, decorative borders, blue, about very fine. £40-50 543 Guards Boat Club Ltd., a large group of 165 debentures for £10, 1930, large format, ornate border, 4 pages, blue and black, a handful are damaged, otherwise generally very fine to extremely fine.

(165) £300-400

539 All England Lawn Tennis Ground Ltd., £50 debenture, 19[48], no. 717, entitling the owner, Baroness Stafford, to attend the Wimbledon Championships until 1947, extended by endorsement to 1953 on reverse, blue, good very fine. £60-80

The club, organised by the Brigade of Guards was established at Maidenhead in 1865. In financial difficulties following the stock market crash of 1929 and raised funds by these debentures to extend membership to ladies and to improve the facilities. The Club continued until 1965 when it was closed and the property sold to developers.

540 Beaconsfield Club, a small group of 10 x £100 bearer debentures numbered 1-10, 1883, thin lined border, large format, black, with coupons, good very fine to extremely fine (10) £60-80

544 James Lillywhite, Frowd & Co. Ltd., a series of 34 debentures for £50 each, 1916, of only 60 issued, large format, ornate border, black, 4 pages, good very fine. (34) £80-100

Located in Pall Mall, London, the Beaconsfield Club was established in 1880 and disbanded in 1887. Named after Benjamin Disraeli, 1st Earl of Beaconsfield, it was formally linked to the Conservative Party 541 - a similar lot but 55 examples, mostly very fine to about extremely fine. (55) £150-200

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545 Royal Aquarium & Summer & Winter Garden Society Ltd., £5 6% preference shares, 187[8], no.54, issued to Lord Alfred Paget, attractive crest top centre and scrollwork at left, black on grey paper, extremely fine. £80-100 An entertainment complex like a smaller scale Crystal Palace, presenting (in addition to its aquarium attraction) a wide range of entertainments, including variety, orchestral concerts, dance companies, circus-style acts, the firing of a woman from a cannon, the exhibition of the first gorilla seen in England and so-on.

It opened in January 1876 and with some alteration, the original theatre remained in use until it was taken over

by Lillie Langtry in 1900. The site of the Royal Aquarium is now occupied by Westminster Central (Methodist) Hall.

546 Sunderland Theatres Ltd., a group of 131 first mortgage 5% debentures for £100, 1896, large format, black with red paper seal, blue cancellation through signatures, only 160 issued, good very fine. £600-800 Registered 1895 to acquire the Avenue Theatre and Theatre Royal, Sunderland. Liquidated 1907.

547 Tattersall’s (of Chicago) Ltd., pair of certificates for £5 founders shares and £5 ordinary shares, 189[1], numbers 21 and 179, horses head at top centre, scrollwork at left, red and green respectively, the first with ink stain at bottom edge, about very fine. (2) £120-150 548 Tattersalls (of Chicago) Ltd., £5 ordinary shares, 189[1], no.171, together with Tattersalls (of New York) Ltd., £5 ordinary shares, 189[3], no.163, both with horses head at top centre, scrollwork at left, green and black respectively, heavy fold, about very fne. (2) £120-150

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Printing and Publishing 552 Bradbury, Wilkinson & Co. Ltd., a specimen certificate for £100 shares, 189-, from the Bradbury, Wilkinson & Co. archives, ornate border, black, with counterfoil, crease at right otherwise about extremely fine. £50-60 553 “Church Review” Newspaper Company Ltd., £1 deferred ordinary shares and £1 preferred ordinary shares, both dated 1[900], numbers 3 and 12, decorative borders, blue and red respectively, printed

by Waterlow, Bros & Layton, good very fine. (2) £40-50

549 Tattersalls (of Chicago) Ltd., £5 ordinary shares, 189[1], no.159, horses head at top centre, scrollwork at left, green, heavy fold, about very fine. £60-80 550 Tattersalls (of New York) Ltd., £5 ordinary shares, 189[2], no.142, horses head at top centre, scrollwork at left, black, very fine. £60-80

554 Daily Sketch and Sunday Graphic Ltd., £25 mortgage debenture stock, 19[33], ornate border, black, together with Cambridge Gazette Co. Ltd., £1 shares, 18[99], no.4, black, and Embankment Publishing Co. Ltd., £5 shares, 189[3], black, very fine and better. (3) £50-60 555 Hansard Publishing Union Ltd., a group of 4 different certificates comprising £10 ordinary shares and £10 preference shares, both 18[89], capital £375,000, and £10 ordinary shares and £10 preference shares, both 189[0]. capital £1,000,000, both ordinary shares are signed by C. Kegan Paul, ordinary certificates are black on white, the preference certificates are black on blue paper and blue respectively, all very fine or better. (4) £80-100 556 Twentieth Century Press (1912) Ltd., a group of 5% debentures for £5, 1915, black, 4 pages, extremely fine. (58) £150-200

551 Theatre Royal, Drury Lane, New Renters share, 1821, numbered 254, certifying that Mr. John Griffith is entitled to one shilling and three pence for every night that a public performance occurs in the theatre for 75 years and entitling him entry to all public perfomances, showing payments for the full 75 years until 1895, signed by John Griffith and three later owners, large format vellum, black printing and red paper seal, handwritten payments on reverse, some pinholes and discolouration, split at folds, overall very fine and rare. £200-300

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The company was the publishing arm of the Social Democratic Federation and also published Lenin’s paper ‘ISKRA’ at their offices in Clerkenwell Green, London.

Lenin shared the offices for some time during his regular visits to London prior to the First World War. The building is now the Marx Memorial Library.

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Commercial and Industrial 557 A small collection of Welsh certificates (26), including Minera Ragman mining Co. Ltd., 1863; Llangynog United Mining Co. Ltd., 1857; Snow Brook Silver Lead Mining Co. Ltd., 1877; Tal y drws Slate Co. Ltd., 1868; Lampeter, Llandyssil, Tregaron and Aberayron Gas Co., 1868; Swansea Dock Co. Ltd., 1847; Albion Steam Coal Co. Ltd., 1901 and 1914, and, Hafna Mining & Smelting Co. Ltd., 1893, many very fine and better and a useful lot. (26) £150-200 558 An accumulation of British certificates (139), including Glasgow Botanic Institution, 1872; Aqueous Works and Diamond Rock-Boring Co. Ltd., 1892; British Public House Co. Ltd., 1877; General Apothecaries’ Co. Ltd., 1894; London Clinic & Nursing Home Ltd., 1929; Somerset Hotel Co. Ltd., debenture, 1890, vignette of Hotel at top; Middleton & Tonge Cotton Mill Co. Ltd., 1875, large vignette of mill; Swansea Dock Co., 1847, only good fine; others including many 19th century (96), post WWII (31) including unissued and option certificates, mixed condition but many very fine and some extremely fine.

(139) £300-400 559 A very attractive apprenticeship indenture, dated 1759, between, Joshua Walker, a surgeon, and John Stansfield of Halifax, a printed document with manuscript insertions, large vignette of Britannia within scrollwork at top left, black, signed and sealed by the 2 parties plus 3 witnesses, duty stamp at top, very fine and rare; together with other miscellaneous documents including broadsides, insurance policies, Bill’s of sale for ships, cheques, a passport, vellum indentures etc., mixed condition but many very fine and well worth inspection. (lot) £150-200 560 Asphaltic Wood Pavement Co. Ltd., a group of 20 certificates for £1 shares, 187[6], ornate border, green, extremely fine. (20) £80-100 561 Blaenavon Iron and Steel Co. Ltd., a group of 157 certificates for one share of £50, 1870, embossed seal, black, red overprint, good very fine to extremely fine.

(157) £400-500 The company was one of only six south Wales ironworks that successfully made the change to steel production.

Employed c.5,000 by 1878 but failed due to increasing competition.

562 British Aluminium Co. Ltd., a pair of specimens from the Bradbury, Wilkinson & Co. archive, £100 Prior Lien debenture, 19- (annotation for 1910), and £100 Prior Lien debenture, 19- (1925), vignette of Kinlochleven works at top, American style, ornate borders, green and black and blue with pink underprint, without coupons, the second with coupons and with red Bradbury specimen seal, extremely fine. (2), 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. £120-150 563 British Munitions Company Ltd., a group of 8 certificates for £3 shares, 18[91], ornate border with scrollwork at left, embossed seal, brown, printed by Waterlow & Sons, good very fine. (8) £100-150 564 Brooks-Watson Daylight Camera Co. Ltd., a group of 26 debentures for £100, 1903/4, large format, black, red embossed duty stamp, generally extremely fine and an interesting subject. (26) £100-150 565 Cambridge Cemetery Co., £10 share, 1843, no.73, issued to Ebenezer Foster and signed by two other members of the Foster family as directors, black; together with Birmingham Church of England Cemetery Co., £10 share, 1848, black, red seal; Hull, Barnsley & West Riding Junction Railway & Dock Co., consolidated stock, 188[5], black, pink underprint, stamped CANCELLED; Union Marine Insurance Co. Ltd., £20 shares, 188[0] (2 examples); Jewish Colonial Trust Ltd., £1 ordinary shares, 19[51], vignettes in each corner, scarce late design, and, a list of quoted securities on the London Stock Exchange, 1939, issued by Paul E. Schweder & Co., hard bound, generally very fine or better. (7) £100-120 566 Continental Sparklets Co. Ltd., £1 ordinary shares, 18[98], no.91, large format piece with soda syphon in centre and small gas ‘bulbs’ at top left and right, red with pale blue underprint, printed by Waterlow & Sons, a couple of small edge tears at top and bottom, about very fine. £60-80 567 Evans’s Covent Garden Ltd., a group of 4 share certificates for shares of £5 each, three dated 18[71] and one dated 18[72], the last with affixed revenue stamp, black, good very fine. (4) £60-80

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Bonds and Share Certificates of the World 568 Evans’s (Covent Garden) Ltd., a group of 25 121⁄ 2 % debentures for £10 each, 1971, numbers 1 to 25, part of an issue of £4,000, scrollwork at left, black, with coupons, the first and last a little grubby, the rest very fine or better. (25) £120-150 569 Evans’s (Covent Garden) Ltd., a group of 100 121⁄ 2 % debentures for £10 each, 1871, part of an issue of £10,000, scrollwork at left, black, with coupons, secured by tags in top left corners in batches of 20, generally very fine, some better. (100) £300-400 570 Isle of Wight College Ltd., pair of certificates for £10 ordinary shares, no.1, and £10 preference shares, no.14, both 18[91], scrollwork at left, black and black on blue paper respectively, printed by Waterlow & Sons, good very fine. (2) £50-60 571 Marine Smokeless Mechanical Stoker Company Ltd., a quantity of £10 participating preferred ordinary share certificates, 19[10], scrollwork on left, black, good very fine and better. (59) £150-200 572 Maxim Silencer Company Ltd., £1 shares, 19[09], no.31, embossed seal with crossed rifles, black on blue paper, about very fine. £60-80 573 Metropolitan Meat Company Ltd., a group of 87 certificates for one share of £10 each, 186[7], black on green paper, embossed seal, 2 certificates fine but most extremely fine. (87) £180-220 574 New Schultze Gunpowder Company Ltd., £5 preference shares 189[8], no.463, dark blue, together with Schultze Gunpowder Co. Ltd., £3 6s 8d deferred shares, [1905], no.2, orange-brown and black, both with vignette of hand holding lightening forks, printed by Waterlow, Bros & Layton, about very fine. (2) £60-80

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575 Normal Powder & Ammunition Company Ltd., £1 ordinary shares, 18[98], no.450, fine vignette of military cannon and hunters, black, good very fine. £100-120 576 Northfleet & Swanscombe Brickfields Co. Ltd., a group of 19 x 10% debentures for £10, 188[5], typical plain format mostly of text, black, with coupons, red embossed revenue stamp, good very fine and better.

(19) £80-100 577 Wine Agency Company Ltd., a group of 10 certificates for £10 shares, 187[3], small format, pale blue, very fine to about extremely fine;, together with 3 debentures, 186[7], 186[8] and 186[70], black and red, creased but fine to very fine. (13) £80-100

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LATIN AMERICA ARGENTINA 578 Santa Fé, 7% State Loan, 1874, a specimen £100 bond from the Bradbury, Wilkinson & Co. archive, large format with ornate border, black, pink underprint, with coupons, small hole cancels over signature area, extremely fine £100-120

580 Entre Rios Railways Company Ltd., ordinary stock certificate, [1898], no.1816, vignette of train and crests, repeated in embossed seal, decorative border, brown with yellow underprint, very fine. £60-80 British-owned railway company that built and operated a standard gauge railway network in Entre Rios province between the rivers Uruguay and Parana in Argentina. When the company was nationalized in 1948 it became part of the state-owned Ferrocarril General Urquiza.

579 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

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BOLIVIA

581 Bolivia Railway Company, a specimen First Mortgage 5% bond for £100 or $486, 1907, from the ABNCo. archives, seated allegorical female with steam train and goods on dockside, ornate border, slate blue and black, with coupons, numbered 00000 in red, almost extremely fine. £80-100

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BRAZIL

582 Empire of Brazil, 5% Loan of 1886, a specimen certificate for £1000 from the Bradbury, Wilkinson & Co. archive, large format piece with Brazilian arms at top, ornate border, green and black with red underprint, with coupons, extremely fine £120-150

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583 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 £100-120 584 United States of Brazil, 5% Treasury Bill, 4th March 1915, a set of 3 specimen certificates for £10, £100 and £1000, from the Bradbury, Wilkinson & Co. archive, scrollwork at left, green, blue and red respectively, with counterfoils, annotation for 1916 at top, extremely fine. (3) £80-100

585 Municipality of Para (Belem), 1905 5% Gold Loan, bond for £20 or 500 francs, no.C12121, large format piece with coat of arms at top edge, black, green underprint, text in English and French, no endorsements, lacks coupons, fine to very fine and scarce. £60-80 586 Donna Thereza Christina Railway Company Ltd., preference shares of £20 each, 2 dated 18[83] and part paid, one dated 18[93] and fully paid, scrollwork on left, black, fine to very fine but all with filing holes at left. (3) £60-80

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Bonds and Share Certificates of the World

CHILE

587 Amazon Steam Navigation Co. Ltd., a specimen certificate for one £20 share, 18- (circa 1865), from the Bradbury, Wilkinson & Co. archives, lovely vignette of a sail assisted paddlesteamer on the river, attractive foliage around vignette and at left, part of the Brazilian coat of arms also to the left, black, with counterfoil, about extremely fine but with very light toning. £100-120 588 Brazil Trading Company, a group of certificates for 1 share of 100 francs, Brussels 1916, no’s 13368 to 13500 inclusive, still bound in book of issue, numbers 13251 to 13367 removed, vignette in centre with steam train, shipping scene and coat of arms, red and black with green underprint, with coupons from no.6, Belgian revenue stamps, all but the top and bottom pieces are about extremely fine. (133) £500-600 589 Minas de Ouro Saúde, S.A., a group of 16 certificates for one share of 2000 cruzeiros, Salvador 1949, robed female standing by globe with cornucopia at her feet, ornate border, blue and black, about uncirculated. (16) £80-120 Mines in Salvador, State of Bahia.

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590 Chilian 41⁄ 2 % Loan of 1886, bond for £100, a specimen certificate from the Bradbury, Wilkinson & Co. archive, large format, coat of arms at top, black, green underprint ‘£100’, with coupons, extremely fine £100-120 591 Chilian 5% Loan of 1892, a specimen bond for £100 from the Bradbury, Wilkinson & Co. archive, large format piece with Chilian arms at top, ornate border, black and green, with coupons, about extremely fine £100-120

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592 Chilian 5% Loan, 1896, bond for £100, large format piece with ornate border, Chilian arms at top, green and black, printed by Bradbury, Wilkinson & Co., lacks coupons, fine to very fine and rare, loan redeemed. £100-120

593 Republic of Chile, 1921, 25-Year 8% Sinking Fund Gold Loan, set of 3 specimen bonds from the American Bank Note Company archives, comprising $100, $500 and $1000, coat of arms at top flanked by allegorical figures, red, green and brown respectively, all numbered 00000 and overprinted SPECIMEN over signature areas, with coupons, some slight age toning otherwise good very fine and rare. (3) £150-200 594 Compania de Salitres Y Ferrocarril de Agua Santa, group of 5 certificates for £10 shares, Valparaiso 18[1904-08], scrollwork at left with star of Chile, brown, very fine, some pin holes. (5) £80-100

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597 Colombian Mining Association, £100 shares, 18[28], partially paid, nos.5282-5286, ornate engine turned border, black, good very fine. £150-200 595 Nitrate Railways Co. Ltd., a specimen first mortgage bond for £100, 1888, from the Bradbury, Wilkinson & Co. archive, large format piece with vignette of steam train passing dockside, black with pink underprint, numbered 0000, with coupons, good very fine. £100-120

CUBA

COLOMBIA 596 Colombia. 1896, 11⁄ 2 /3% Consolidated External Debt, a specimen bond for £1000, from the Bradbury, Wilkinson & Co. archive, vignette of Colombian arms, ornate border, blue and black, numbered 00000, 2 small hole cancels, with coupons, extremely fine £100-120

598 Municipio de Cienfuegos, 5% Loan, 1906, a specimen bond for $1000 from the American Bank Note Co. archives, coat of arms at top, ornate border, green and black, numbered 00000 and overprinted SPECIMEN in red, with coupons, very fine £80-100 www.spink.com

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November 16, 2011 - London 599 Consolidated Railroads of Cuba, a group of certificates for less than 100 shares preferred stock, 1927-8 (4), 100 shares, preferred stock, 1926-28 (11), speeding train with agricultural vignettes at either side, text in English and Spanish. brown and green respectively, all hole cancelled; together with Cuba Railroad Co., preferred stock, 1938 (3), 195960 (6), generally very fine to extremely fine. (24) £100-150

602 Royal Copper Mines of Cobre Association, 3 different certificates for 1 share of £40 and 5 shares of £40 (2 types), undated but dividend stamps on the reverse from 1836, black printing on pink or yellow tinted vellum, fine but ink from the reverse has leached into the vellum and shows from the front. (3) £150-200 The company was based in Cuba and funded by British capital. The copper ore mines were worked by Welsh industrialists largely using slave labour from Africa.

Cobre is close to Guantanamo Bay. 603 The Company of Proprietors of the Royal Copper Mines of Cobre Ltd, two certificates for one share of £50, and 5 certificates for 10 shares of £50, all 186[7], scrollwork at left with crown in centre, black on white paper and black on pink paper respectively, all with red paper seal at bottom right, good very fine to extremely fine. (7) £60-80

DOMINICAN REPUBLIC

600 Cuba Northern Railways Co., First Mortgage 51⁄ 2 % Gold Bond, 1927, $1000, no.M1786, steam engine and worker flanked by crane loading goods wagons and agricultural scene, orange and black, printed by Hamilton Bank Note Co., blue and red endorsements on face, with coupons, not cancelled, a couple of small edge nicks otherwise good very fine and scarce £120-150 601 United Railways of the Havana and Regla Warehouses Ltd., a fine set of specimen bearer stock certificates for £10, £50, £100, £500 and £1000, all 190- (annotations for 1906), from the Bradbury, Willkinson & Co. archive, small format, ornate borders, text in English and Spanish, orange, brown, blue, red and green respectively, with coupons, extremely fine. (5) £100-150

604 Dominican Republic, 5% Customs Administration Gold Loan, 1908, a specimen bond for $50 gold or £10.5.4. from the American Bank Note Company archives, large format, allegorical females flank state arms, green and black, text in English, Spanish and French, with coupons, overprinted SPECIMEN at bottom, about extremely fine. £100-150

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Bonds and Share Certificates of the World

ECUADOR

MEXICO

605 New External Consolidated Debt of Ecuador, certificates of claim against the Government of Ecuador by the Council of Foreign Bondholders, representing 17 months interest in respect of £40 bonds (30), £100 bonds, (30) and £400 bonds (5), all with scrollwork on left, red, blue and brown respectively, some surface dirt on some examples but generally extremely fine. (65) £120-150

HAITAI

607 Mexican Empire, 6% Public Foreign Debt, 1864, a part set of bonds for £50, £100 and £200, signed in London by the agents Glyn Mills & Co., attractive printing, grey, pink and green respectively, coupons at either side, very fine to about extremely fine and scarce.

(3) £400-500

606 Republic of Haiti, Customs and General Revenues External 30-Year Sinking Fund 6% Gold Loan, a specimen bond for $1000, 1922, from the ABNCo. archives, allegorical females holding arms, green and black, numbered 00000 in red and overprinted SPECIMEN at bottom, with coupons, slightly brittle at edges, very fine. £120-150

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608 Mexican Empire, 6% Public Foreign Debt, 1864, a group of bonds for £50 (11), £100 (2) and £200, all signed in London by the agents Glyn Mills & Co., attractive printing, grey, pink and green respectively, coupons at either side, the £200 stained with small edge tears, one of the £100 has an edge tear otherwise generally very fine and better. (14) £1,000-1,200

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609 Republic of Mexico, Consolidated Exterior Debt, a specimen bond for £100 or 2040 marks, series B, from the ABNCo. archives, [1888], large format piece with state building at bottom centre flanked by miners at work underground and farmer and plough, Mexican eagle at top, black and brown, text in German, Spanish and English, numbered 0000 and overprinted SPECIMEN in red, some splitting at folds but about very fine and rare. £100-120 x610 State of Jalisco, Ferrocarril Central Mexicano, Railroad subsidy bond for $1000 silver, 1900, no.540, steam train at top, text in Spanish and English, green and black, with coupons, very fine. £50-60

611 City of H. del Parral, 6% loan, 1908, series C, a specimen bond for 1000 pesos, from the American Banknote Company archives, Father Hidalgo at top left, mining scene top right, text in English and Spanish, red and black, with coupons, very fine and rare. £100-120 612 Institute for Encouragement of Irrigation Works and Development of Agriculture, 41⁄ 2 % 35-Year Gold Bond, 2000 pesos/ $1000 US gold, no.M2308, large format, river scene at left, farmer and plough at right, text in English, Spanish, German and French, olive green and black, with coupons, very fine. £60-80 613 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) £100-150

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Bonds and Share Certificates of the World 614 Mexican Southern Railway, certificate for £125 ordinary stock, 19[31], scrollwork to left, black, extremely fine;, together with Mexican Railway Co. Ltd., ‘A’ registered stock, 19[22] large format, scrollwork left, eagle in centre, black, fine, and, Interoceanic Railway of Mexico (Acapulco to Vera Cruz) Ltd., first preference stock certificate, 19[34], red, grey underprint, very fine. (3) £80-100 615 Mexico North Western Railway Co, 5% 50-year first mortgage bond, £100, 1909, 3 examples, numbers A15119, A15120 and A15123, steam train at top, ornate border, blue and black, printed by Waterlow & Sons Ltd., with coupons; together with certificates for 10 shares (3), 1910, 1911 and 1930, all with vignette of steam train, brown, very fine to extremely fine. (6) £100-120 616 Monterey Railway, Light and Power Co., two certificates for variable quantity of $5 shares, [1910], numbers 600 and 601, together with nine certificates for 10 shares of $5, [1910], numbers G1401 to 1409, all with facsimile signature of William Mackenzie as President, turbine in centre with vignettes of waterfalls and electricity generating stations at either side, green and olive respectively, the first good very fine, the rest about extremely fine. (11) £100-120 617 National Railways of Mexico, First Preferred Stock, 10 shares, all 1909 (10 examples), together with Second Preferred Stock Nominative, 10 shares, 1909 (2 examples) and Less than 100 shares, 1909, Morton Trust (10 examples, and 1910, Guaranty Trust (2 examples), all with Diaz in centre, text in English and Spanish, olive-green and green respectively, with coupons, very fine or better. (24) £80-100

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618 Ferrocarriles de Toluca a Tenango y San Juan, set of 3 certificates for 1, 10 and 20 shares of $100 pesos, 1907, steam train at top, ornate border, blue, green and brown respectively, with coupons, imprinted revenue stamps, very fine and better. (3) £150-200

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619 Banco Comercial de Chihuahua, $100 peso share, no. 3074, Chihuahua 1899, vignette of Mexican eagle at top, brown and black, with coupons, about extremely fine £60-80 620 Banco Comercial Refaccionario S.A., ‘bono fundador’ no. 962, Chihuahua 1905, vignette of gentleman, green and blue, impressed duty stamp, with coupons, nearly extremely fine £60-80

621 Banco Comercial Refaccionario S.A., $100 peso share, no. 1113, Chihuahua 1905, vignette of gentleman, brown and black, impressed duty stamp, with coupons, nearly extremely fine £60-80 622 Banco de Coahuila S.A., $100 peso share, no. 1216, Saltillo 1899, vignette of statue of early revolutionary soldier, mauve and black, adhesive revenue stamp. with coupons, tiny edge tear otherwise about extremely fine £50-60 623 Banco de Morelos S.A., 10 shares of $100 pesos, no.

193, Cuernevaca 1903, vignette of allegorical females flanked by gentleman and eagle, brown and black, impressed duty stamp, with coupons, extremely fine £60-80 624 Banco de Queretaro, founders bond, 1907, a specimen certificate from the American Bank Note Co. archives, vignette of steam train with viaduct in background, coat of arms and Mexican eagle at either side, blue and black, with coupons, numbered 00000, overprinted SPECIMEN in red, good very fine £100-120

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Bonds and Share Certificates of the World 625 Banco de Tabasco S.A., ‘bono fundador’ no. 483, San Juan Bautista 1902, allegorical females at top, brown and black, impressed duty stamp, with coupons, very fine to extremely fine £60-80

626 Banco de Zacatecas S.A., $100 peso shares, no.5992, Zacatecas 1891, vignette at top left of panoramic town view, black, impressed revenue stamp, about extremely fine £60-80 627 Banco de Zacatecas S.A., certificate for 10 shares of $100 pesos , no.67, Zacatecas 1913, vignette at top left of panoramic town view, green, impressed revenue stamp, with coupons, extremely fine £60-80

628 Banco Mercantil de Veracruz S.A., ‘bono fundador’, no. 1690, Veracruz 1899, attractive vignette of bank building, brown and black, impressed duty stamp, with coupons, extremely fine £60-80

629 Cuyutlan Gold Mines Company, a group of certificates for $1 shares, 191[3], partially issued with signatures but shareholder inserted, vignette of Napoleon, black, one stained, others very fine to extremely fine. (14) £100-150 Company incorporated in Maine but mines in Mexico.

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November 16, 2011 - London 630 Las Nueve Minas de Santa Maria Gold & Silver Mining Co., 100 shares of $25, New York 188[2], vignette of ‘Indian’ sitting on a rock, green and black, ABNCo., very fine. £40-50

PERU

Mines in the State of Sonora.

631 Mexican Cotton Estates of Tlahualilo Ltd., a group of 203 debentures for £100, London 1903, large format pieces with Mexican eagle in centre surrounded by cotton plant, orange and black, with talon and one coupon, printed by Waterlow, Bros. & Layton Ltd., several endorsements on face, some with edge splits at folds, generally very fine or thereabouts. (203) £600-800 632 Sonora (Mexico) Land and Timber Company Ltd., a group of option certificates entitling the bearer to an allotment of up to 100 shares of £1 each, 19[12], scrollwork at left, red, about very fine to extremely fine.

(50) £60-80

635 Lima Railways Co. Ltd., £20 shares, reduced by endorsement to £10, 187[2], no.839, vignette of park scene (New Alameda, Lima), scrollwork on left with coat of arms, brown, printed by Waterlow & Sons, about very fine. £80-100

NEW GRANADA 633 New Granada, Waste Land Certificate, a group of certificates for 160 hectares (1) and 320 hectares (3), 1861, coat of arms at top, ornate borders, black, some light foxing, generally very fine. (4) £80-100

POYAIS 636 Poyaisian 3% Consolidated Stock, £250 bond, 1827, no.183, handsigned by Gregor MacGregor, coat of arms at top, pink and black, with coupons, good very fine. £60-80

PARAGUAY 634 Paraguay Central Railway Co. Ltd., £10 ordinary shares, 19[38], no.451, scrollwork on left, blue, printed by Bradbury, Wilkinson & Co., good very fine. £40-50

URUGUAY 637 Central Uruguay Railway Company of Monte Video Ltd., ordinary stock certificate, 19[37], scrollwork at left and ornate border, red, printed by Waterlow & Sons, good very fine. £40-50 638 La Providencia, Compañia Anónima de Seguros Contra Incendios, unissued, probably a proof, share for 500 pesos, Montevideo 1864, very attractive piece with vignette of fires being extinguished and allegorical figures, black on thick paper, uneven handcut edges, some slight edge tears but otherwise very fine £50-60

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Bonds and Share Certificates of the World

WEST INDIES - BARBADOS

State Loans

639 Barbados Railway Company and The Barbados Railway Co. Ltd., £5 preference shares, 18[80], no.A13, and 18[82], no.B11, with £5 ordinary shares, 18[85], no.A220, black printing, the first two fine to very fine, the last badly toned and fine. (3) £80-100 With related letter and transfer certificate.

RUSSIA Miscellaneous Lots 640 A collection of Russian Imperial State, City and Railway bonds (58), mostly French, German, English and Dutch issues, all different, mixed condition but many very fine and some better. (58) £200-300 641 A group of Russian State and Railway bonds (274), mostly French issues, 1914 and earlier, much duplication but well worth inspection, most with coupons, mixed condition but many very fine and better. (274) £250-350

643 1817/18 6% Perpetual Loan, bearer certificate for 500 roubles, printed date 1867, double headed eagle at top, black, English on reverse, with coupons, small tear at bottom edge, creased at top left corner, good very fine and rare. £80-100 644 1916 51⁄ 2 % War Loan, a group of 243 bonds, various series and various denominations of 1000 roubles and below, all with coupons, mostly very fine to extremely fine. (243) £250-300

642 An accumulation of Russian railway bonds, comprising Moskau-Kasan, 4%, 1901, 500 marks (14), 1000 marks (48), 2000 marks (19); 41⁄ 2 %, 1911, 1000 marks (2); Moskau-Kiew-Woronesch, 41⁄ 2 %, 1909, 1000 marks, 41⁄ 2 %, 1910, 1000 marks (5); MoskauWindau-Rybinsk, 4% 1897, 500 marks (45), 1000 marks (35), 2000 marks (14); Sud-Ost, 4%, 1897, 500 marks (14), 1000 marks (9), 4%, 1898, 500 marks (22), 1000 marks (28), 2000 marks (5), 4%, 1901, 1000 marks (48), 2000 marks (25); Rjasan-Uralsk, 4%, 1898, 1000 marks (11), 2000 marks (5), other miscellaneous coupons and talons, some edge tears but generally very fine or better. (350) £800-1,000 645 Imperial Russian Government, £500,000 Treasury Bill, 11th October 1915, no.10, issued by Baring Brothers & Co. Ltd., payable on 10th October 1916, scrollwork at left, brown, red impressed duty stamp, hole cancelled, good very fine and one of only 10 issued, 5 of which are currently held by the Baring Archive. £400-500

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November 16, 2011 - London

646 Imerial Russian Government, £1000 Treasury Bill, 22nd February 1916, no.5163, issued by Baring Brothers & Co. Ltd., payable on 21st February 1917, double headed eagle at left, black, red impressed duty stamp, hole cancelled, very fine to extremely fine. £150-200

City Loans 647 City of Kieff, 5% XXII Loan, 1914, a group of 19 bonds for £20, 6558 issued, ornate borders, green and black, brown underprint, with coupons, generally very fine and better. (19) £120-150 648 City of Moscow, 1912 41⁄ 2 % Loan, a group of bonds comprising £500, £100 and £20 (50 examples), the £500 and a handful of the £20’s with some edge splits, otherwise very fine to about extremely fine; together with Alexandria Water Co., 5 bearer shares, 1958 (34), miscellaneous bonds and shares from many countries including Greece, Russia, Sweden, Roumania, Turkey and Poland (215), and some coupons relating to the shares of the Egyptian Delta Light Railways Ltd., mixed condition but many very fine and better. (262+) £300-400

649 City of Nikolaef, 5% Loan, 1912, bond for £500, no.0041, of only 261 issued, ornate border, red and black, with coupons, very fine. £120-150 650 - another similar bond for £500, no.0253, ink smudge in centre, very fine. £120-150 651 City of Saratoff, 5% Loan, 1909, a group of 10 bonds for 2500 francs, ornate borders, mauve and black, with coupons, 4 are good very fine, the rest have small edge tear at bottom right corner. (10) £200-250

Railways 652 Grand Russian Railway, a group of certificates comprising, 41⁄ 2 % bond for 500 roubles, 1859, 2nd issue, red serial numbers; 4% bond for 125 roubles, 1861, and, 3% bond for 125 roubles, 1881, all with same ornate borders comprising numerous vignettes of railway and industrial scenes, underprint of St.George on horseback in centre, brown and black, black with green underprint and black with dark green underprint, all on green paper, all lacking coupons or talons, generally very fine. (3) £80-100 Page 105

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Bonds and Share Certificates of the World 653 Russian South Eastern Railway, 41⁄ 2 % Loan, 1914, scrip certificate for one bond of £20 issued by the Anglo-Russian Trust Ltd., ornate border, green, with remittance slips, good very fine and scarce. £60-80 654 Tambow-Saratow Railway, a group of bonds for £100 (13), blue and black, only 3952 issued, half are very fine or better, the rest poor to fine; together with a quantity of Russian State loan and railway bonds (220), mixed condition but some very fine and a few much better. (220) £300-400 655 1913 Troitzk Railway Company 41⁄ 2 % Loan, bond for £500, no.61118, together with a group of 20 bonds for £100, blue, all with coupons, good very fine to about extremely fine. (21) £180-220

Foreign Companies in Russia 657 Emba Caspian Oil Company Ltd., a bearer warrant for 25 ordinary shares of £1, 19[12], no.A278, signed by the Earl of Carrick, large format piece with stylised oil lamp at top, green and black, text in English and French, 4 pages, about extremely fine. £60-80 Owned property, through a Russian company, in the Gurieff District. Charles Ernest Alfred French Somerset Butler, 7th Earl of Carrick (1873-1931).

658 New Central Siberia Ltd., a specimen £20 debenture, 19- (circa 1915), printed by W.W.Sprague and Co., ornate border, olive-green and black, red overprint SPECIMEN, light discolouration at right and a few creases, very fine to about extremely fine. £80-100

659 Russian Corporation Limited, a specimen bearer warrant for 50 shares of £1, from the Bradbury, Wilkinson & Co. archive, undated but annotated 1914 in top margin, very ornate border, blue and black, text in English and French, with coupons, numbered D0000, small hole cancels, extremely fine. £80-100

656 1913 Troitzk Railway Company 41⁄ 2 % Loan, a group of 5 bonds for £500, ornate borders, red and black, with coupons, about extremely fine. (5) £400-500

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660 Russian Petroleum & Liquid Fuel Company Ltd., a group of 4 different certificates, £1 ordinary shares, 189[8], no.1020, black and £1 preference shares, 189[00], no.2042, green, both with scrollwork at left; £1 ordinary shares, 19[01], no.7135, black and £1 preference shares, 19[02], no.2693, green, details of shareholding at left, all printed by Waterlow & Sons, fine to very fine. (4) £120-150 661 Schibaieff Petroleum Company Ltd., £5 preference shares, 189[8], no.12, red, about very fine. £60-80

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November 16, 2011 - London 662 St.Petersburg Land and Mortgage Co. Ltd., a specimen bearer warrant for 100 ordinary shares of £1, from the Bradbury, Wilkinson & Co. archives, 19-, annotation for January 1914 in top margin, vignette of Peter the Great on horseback, green and black, with coupons, about extremely fine £100-120

663 St.Petersburg Land and Mortgage Co. Ltd., a specimen bearer warrant for 20 ordinary shares of £1, from the Bradbury, Wilkinson & Co. archives, 19-, annotation for January 1914 in top margin, vignette of Peter the Great on horseback, orange and black, with coupons, about extremely fine £80-100 664 Standard Oil Company of Maikop (Schirvanski) Ltd., 5 shilling shares, fully paid, 19[10], no.73, ornate border, brown, good very fine. £80-100 665 Ural Railway Navigation and Mining Corporation Ltd., £1 shares, 190[10], no.410, decorative border, dark blue, about very fine. £60-80 666 Ural Railway Navigation and Mining Corporation Ltd., £1 ordinary shares, 190[11], no.479, decorative border, dark blue, about very fine. (2) £60-80 667 Compagnie Houillère Métallurgique & Industrielle de Lomovatka, pair of certificates for 100 franc share and dividend share, Brussels 1899, striking art nouveau design, red with pale green underprint and blue with yellow underprint, with coupons, the second has been trimmed at top and bottom edges otherwise very fine or better. (2) £60-80

UNITED STATES OF AMERICA 668 A miscellaneous selection of certificates, comprising; New York, Soldiers Bounty Fund Bond No.2, 1864, Union officers talks to soldier, blue, red seal; South Gila Canal Co., first mortgage 5% gold bond, £100, 1892; American and British Timber and Cotton Land Co., $1000 bond, 1851; Confederate States, $1000 bond, 1863, ‘Stonewall’ Jackson in centre; Butte Electric Railway Co., $100 shares, 1899, and, others (4), generally very fine. (9) £100-150 669 An accumulation of mining and oil certificates, including; Victor Gold Mining Co. Ltd., 10 shares, 189[5], miners at rest, green, with coupons; AngloAmerican Oil Co. of Beaumont, $1 shares, 1902, eagle; Butte Crude Petroleum Co., 10 cent shares, 190[18], oilfield; Basin Gold and Copper Mining Co. (MT), $5 shares, 1[899], miners at work underground; Eastern Oregon Gold Mining Co. Ltd., £1 shares, 18[88], and, Northwestern Development Co, First Lien 50-Year bond, $100, 1909, miners underground, some duplication, mixed condition but all those mentioned are very fine or better. (24) £120-150

Confederate States 670 Act of August 19th 1861, 8% Loan due July 1st 1869, a group of $100 bonds (6), vignette of R.M.T.Hunter, black, with coupons (Ball 54), one with small hole at top left and another with corner tear otherwise fine to very fine. (6) £150-180 671 Act of August 19th 1861, 8% Loan, due July 1st 1866, $100 bonds (3) (Ball 39, only 594 issued), creased at left edge otherwise very fine, rare, one badly damaged; together with other Confederate bonds (18), 1861 to 1864, many types included, generally complete with coupons (Ball 55, scarce, 57, rare but stained, 67, 111, 117, 119(2), 122, 125 (2), 165 (2 one badly damaged), 192 (2 - one damaged), 221, 304, 309 and 312), edge problems on the last 3 pieces but generally fine to very fine unless stated. (21) £500-600 672 Act of August 19th 1861, 8% Loan due July 1st 1876, a group of $100 bonds (7), S.R.Mallory in centre with allegorical females, black, with coupons (Ball 96), generally about very fine or better. (7) £200-250

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Bonds and Share Certificates of the World 673 Act of February 20th 1863, 8% Loan, a group of 15 bonds for $500, redeemable July 1868, vignette of Memminger in centre, black, octagonal ‘loan’ medallion (Ball 192), with coupons, generally very fine. (15) £400-500 674 Act of February 20th 1863, 7% Loan, a group of $100 bonds (15), Confederate officer stands by tree, black on pink paper, with coupons (Ball 212), fine to very fine and generally problem free. (15) £400-500 675 Confederate States, a group of 4 scrip certificates for bonds to the value of $10,000 (3) and $25,000 (1), issued by the National Safe Deposit Co. Ltd., in London, between 1883 and 1886, black, red oval duty stamp, fine to very fine; together with mortgage bond scrip for the Wabash Railroad Co., issued in 1889 (7), generally fine and very fine. (11) £60-80

677 Territory of Florida, Bank of Pensacola, 6% bond for $1000, 1835, series E, no.63, plain black printing with pink paper seal attached, with coupons and also certificate for obtaining interest in London, very fine. £150-200 678 Territory of Florida, Bank of Pensacola, 6% bond for $1000, 1835, series E, no.64, plain black printing with pink paper seal attached, with coupons and also certificate for obtaining interest in London, some foxing at top right, very fine. £150-200 679 Territory of Florida, Bank of Pensacola, 6% bond for $1000, 1835, series E, no.62, plain black printing with pink paper seal attached, with coupons and also certificate for obtaining interest in London, some foxing, ragged top edge, dirty surface, fine. £150-200

Bondholders eager to obtain repayment of Confederate bonds, in default since the surrender in 1865, submitted their bonds to the company to be held by a group of trustees. The legal action of course failed. The deposited bonds found their way to Coutts Bank as successors to the company who honoured these deposit forms and returned bonds to holders. Unclaimed bonds, some 75,000 in all, were sold by Sotheby’s in one lot in 1987.

State Loans

680 State of Massachusetts Bay, 6% note, 1778, no.4080, border of symbols, black (Anderson MA6), fine to very fine. £200-300

676 Territory of Florida, Bank of Pensacola, 6% bond for $1000, 1835, series E, no.65, plain black printing with pink paper seal attached, with coupons and also certificate for obtaining interest in London, slight foxing at top right, a couple of nicks in top edge, very fine. £150-200

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681 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1831, bond for $1000, series A, redeemable 1841, no.41, signed by the Governor, black, paper seal, with certificate for collection of interest in London, a couple of edge tears, top right corner missing, good fine. £150-200 682 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1831, bond for $1000, series A, redeemable 1841, no.76, signed by the Governor, black, paper seal, with certificate for collection of interest in London, a couple of edge tears otherwise fine to very fine. £180-220 683 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1831, bond for $1000, series B, redeemable 1846, no.157, signed by the Governor, black, paper seal, with certificate for collection of interest in London, very fine and scarce. £200-250

684 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series E, redeemable 1861, no.807, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, very fine. £150-200 685 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series E, redeemable 1861, no.972, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, tear at bottom edge, coupons have been removed and reattached otherwise very fine. £120-150 686 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series E, redeemable 1861, no.641, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, heavy centre fold, nick in top edge, about very fine. £150-200 687 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series F, redeemable 1866, no.1091, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, small tear at bottom edge, about very fine. £150-200

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Bonds and Share Certificates of the World 688 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series F, redeemable 1866, no.1099, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, heavy centre fold, about very fine. £150-200 689 State of Mississippi, 6% ‘Planters’ Bank’ Loan, 1833, bond for $1000, series G, redeemable 1871, no.1533, signed by the Governor, attractive engine turned borders, black, with coupons, also with coupon sheet for obtaining interest payments in London, small tear at top edge, about very fine. £150-200

Railroads 692 Memphis & Little Rock Railroad Co., 7% bond for $1000 issued by the State of Arkansas, Little Rock 18[69], signed by the Governor, Powell Clayton, steam train at top, coat of arms below, brown and black, a couple of edge repairs mostly where coupons roughly removed, about very fine. £40-50 Powell Clayton (1833-1914), engineer, Union General during the Civil War, Governor of Arkansas (18681871), United States Senator (1871-1877).

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

693 Newport News and Mississippi Valley Co., certificate for 100 shares of $100, 18[90], no.B600, signed by C. P. Huntington as President, American eagle at bottom, black and green, with coupons, good very fine £60-80 694 Port Jervis & Monticello Railroad Company (NY), $50 shares, 187[5], no.30, vignette of loco passing through countryside, black about very fine. £60-80 695 United States Car Company, a group of 50 common stock certificates and 36 preferred stock certificates, all 189[4], steam train at top, green and red respectively, a few with folds at edges but most are extremely fine.

(86) £150-200

691 Texian Loan, 8%, 1836, bond for $320, first instalment of $32, no.601, signed by Stephen Austin as one of the commissioners of the new Republic, ornate border, black, printed by Benjamin Levy of New Orleans, cut cancelled with usual small triangular piece removed from centre but cleverly replaced with a piece from another certificate, tiny splits at folds but very fine and scarce. £600-800 www.spink.com

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November 16, 2011 - London x698 An accumulation of Motor Car and related company certificates, including; Durant Motors, Inc., 1924 & 1925; Four Wheel Drive Auto Co., 1912 & 1917; General Motors Co., 1916 (2) & 1917, and, Reo Motor Car Co., 1916 (2), the remainder consists of post 1940, unissued, temporary or fractional certificates, and includes names such as Moon, Lincoln, Nash, Peerless, Ford, Studebaker and Willys, many are cancelled, many very fine, some better. (122) £400-500

x699 Dodge Brothers, Inc., a specimen certificate for 100 shares of common class A stock, circa 1930, allegorical figure at top, blue and black, printed by ABNCo, numbered 00000 and overprinted SPECIMEN in red, extremely fine. £80-100 696 United States Car Co., a group of 10 bonds for $500, 1894, numbers 3795 to 3804, steam train at top left, yellow and black, with coupons, the first a little grubby with a spike hole at top otherwise good very fine and better. (10) £140-180

Motor Cars x697 A good collection of motor car builders and associated companies, comprising; Moon Motor Car Co., 1930; American Austin Car Co. Inc., 1930; Star Motors, Inc., 1923; Durant Motors, Inc., less than 100 shares, 1925 (2, slight printing varieties); Reo Motor Car Co., less than 100 shares, 1916 & 1924, with slight printing varieties; General motors Co., 1917; Brill Corporation, 1944; Four Wheel Drive Auto Co., 1912 and 1941; Packard Motor Car Co., 100 shares and less than 100 shares, both 1936, and, Stewart-Warner Corp., 100 shares, 1941 and 1948, slight printing varieties, some are cancelled, generally very fine and better. (15) £250-300

Mining Companies 700 Alaska Gastineau Mining Company (NY), two certificates for $5 shares, 191[2], numbered 491 and 558, signed by Joseph Gilbert as president, vignettes of mineworkers and frontierswoman with rifle, green and black, good fine. (2) £60-80 Joseph Gilbert formed the Alaska Perseverance Mining Co., which was renamed in 1910 Alaska Gastineau Mining Co. to mine gold. By 1915, 4,000 tons of ore were being crushed daily. Acquired by the Alaska Juneau Mining Co. in 1934.

701 Estella Mining Co. (CO), a large group of 385 certificates for $5 shares, Denver 191[1], eagle at top, green and black, British impressed revenue stamp, generally extremely fine or nearly so. (385) £400-500

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Bonds and Share Certificates of the World

702 Mary Murphy Gold Mining Co. (CO), a large group of 389 certificates each for 10 shares of $5, 19[09], miners at work underground, maroon and black, British impressed revenue stamp, generally extremely fine or better. (389) £400-500 703 Mary Murphy Gold Mining Co. (CO), a group of 50 certificates each for 50 shares of $5, 191[1], miners at work underground, brown and black, this denomination much more scarce than the maroon 10 share denomination, the first few with some edge creasing but most are extremely fine or better. (50) £80-100

706 American Express Company, $500 shares, capital 10,000 shares, 186[5], no.2368, signed by Henry Wells as President, William Fargo as Secretary and Alexander Holland as Treasurer, dog’s head in circle in centre flanked by vignettes of wagon, railroad depot and goods at dockside, black, adhesive duty stamp, left half is stained as usual, very fine. £120-150

704 Utah-Bingham Mining Co. (ME), a group of 36 certificates for $5 shares, 190[8], miners at work underground top left, green and black, red embossed British revenue stamp, very fine to extremely fine. (36) £80-100

Express Companies 705 American Express Company, $500 shares, 186(5), no.1481, signed by Henry Wells, William G. Fargo and Alexander Holland, dog’s head in centre flanked by vignettes of wagon with railway station at left and steamship with goods at dockside at right, capital 6000 shares, overprinted 10,000 in blue, black, usual light brown staining otherwise very fine. £150-200

707 American Express Company, 500 dollar shares, no.728, New York 1866, signed by Henry Wells, James Fargo and Alexander Holland, capital 18,000 shares, busy port and railway yard scenes with dog in centre, black and blue, some discolouratioin as is usual with many of these pieces, very fine £150-200

Commercial and Industrial 708 Bank of the United States of America, a group of 13 Dutch certificates, issued by Hope & Co. and others, Amsterdam [1844], in exchange for the original American certificates, ornate border of scrollwork and symbols, black, with coupons, generally extremely fine.

(13) £200-300

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November 16, 2011 - London 709 Cumberland Gap Park Company (TN), $25 shares, 189[1], no.40, black on pink paper; $25 or £5 shares, London 189[0], no.52, green; together with Cumberland Gap Hotel and Park Co. (TN), provisional scrip certificate for preferred shares, 1892, no.30, black, with a few relevant call receipts and reports, generally about very fine. (3) £50-60 710 Middlesbrough Street Railway Co., $5 or £1 shares, 189[0], no.59, red-brown; together with Middlesbrough Hotel Company Inc., $5 or £1 shares, 189[0], no.30, orange, and issued to Evelyn Ashley, second son of Earl of Shaftesbury, and both overstamped with London countersignature, very fine.

(2) £50-60

British Companies 711 American Association, pair of certificates for £1 ordinary shares, 18[92], no.132 and £1 preference shares, 18[93], no.3, British and American flags in scrollwork at left, green and orange respectively, about very fine. (2) £40-50 Anthony Evelyn Ashley was the son of the Earl of Shaftsbury and Private Secretary to Lord Palmerston.

He was MP for Poole and the Isle of Wight.

712 Capitol Freehold Land & Investment Co. Ltd., a specimen mortgage debenture from the Bradbury, Wilkinson & Co. archive, 190-, large format piece with vignette of State Capitol, and small bull, farming scene and cattle within ornate border, Texas Star at top, black, green underprint, creased, good very fine. £60-80 Financed the building of the Texas State Capitol in 1885 in exchange for 3 million acres of land and began building the famous XIT ranche, the biggest in the State.

713 East Sheboygan Silver Mining Co. Ltd., £2 ordinary shares, 187[1] and 187[2], black, and £2 preference shares, 187[1] (2 examples) and 187[2], scrollwork at left, black and blue respectively, embossed seal stating Nevada, adhesive revenue stamps, generally very fine. (5) £60-80

714 Glade Mining Co. Ltd., a group of certificates for £1 ordinary shares (11) and £1 preference shares (5), all either [1900] or [1901], ornate borders, green and red respectively, a few with grubby folds but generally very fine. (16) £80-100 Acquired 680 acres of gold bearing land in North Carolina.

715 New York City Freehold Estates Corporation (1905) Ltd., £4 Preferred Ordinary Shares, 190[22], and £1 Deferred Shares, 19[22], scrollwork at left with Statue of Liberty, red-brown and mauve respectively, very fine. (2) £50-60 716 Peter Schoenhofen Brewing Company Ltd., £10 ordinary shares, 18[92], no.518, vignette of brewery along left side, black, fine, some staining at top right. £80-100 Peter Schoenhofen, a Prussian immigrant, started a partnership with Matheus Gottfried to operate a brewery in Chicago where, during the early 1860s, they made about 600 barrels of lager beer a year. In 1867, Schoenhofen bought out his partner, and the company became the Peter Schoenhofen Brewing Co. During the 1890s, when the business was acquired by O’Hagan’s, City of London Contract Co, annual output reached 180,000 barrels. Around 1900, the Schoenhofen family regained control from the English company. Operations shut down during Prohibition, but by 1933, after the national ban on alcohol production was lifted, the company was back in business as the SchoenhofenEdelweiss Co. After being purchased by the Atlas Brewing Co. in the late 1940s, Schoenhofen became part of Dewery’s Ltd. of South Bend, Indiana, in 1951.

717 Richmond Consolidated Mining Company Ltd., small group of certificates for £5 shares, 187[80], 188[1] or [2] and 188[9] all issued to Admiral Sir John Cammerell VC, British and American arms at top, black, red endorsement, fine to very fine. (6) £100-150 Company worked the silver lead ore deposits in Eureka.

718 Saturn Silver Mining Company of Utah Ltd., a group of 70 bearer warrants for one share of £5, 1871, scrollwork at left, black, embossed duty stamp, good very fine and better. (70) £250-300

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Bonds and Share Certificates of the World 720 Stratton’s Independence Ltd., 2s 6d shares, 2s paid, [1908] no.1935, scrollwork at left, green, endorsements on face, heavy folds, fine. £150-200 721 Stratton’s Independence Ltd., 2s 6d shares, fully paid, [1911], no.5437, scrollwork at left, red, heavy folds, good fine and scarce type. £200-250

END OF THE SALE

719 Stratton’s Independence Ltd., £1 shares, fully paid, [1900], no.8176, scrollwork at left, blue, red ink stain at right, heavy folds, good fine. £150-200 Winfield Scott Stratton, Cripple Creek’s first gold millionaire, sold his Independence mine at the height of the boom to these English investors. The company was soon reorganised with a more realistic capital as can be seen in the following two lots.

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Bonds and Share Certificates of the World

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16 November 2011 • London

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Bonds and Share Certificates of the World

Wednesday 16 November 2011 at 10.00 a.m.

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11022

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Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Please note that the Buyer’s Premium is 20% of the final hammer price of each lot

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

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

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Client Number (if known): ................................................Name: .....................................................................................

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

Tel. (Home): .................................................................................(Office): ...............................................................................................

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

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

Please indicate the type of card:

Visa

Visa Debit

Mastercard

Switch

American Express

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

Card No: Signature

Start Date: Expiry Date

Issue No:

Security Code:

Name (on credit card)

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

Continued...

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Sale No. 11022

Date: Wednesday 16 November 2011

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

Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

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

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

Account Number: ...........................................................................................................................

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

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AUCTION RESULTS Sale:

Bonds and Share Certificates of the World

Sale No:

11006

Date:

Friday 20th May 2011

Venue:

London

Spink & Son Ltd 69 Southampton Row Bloomsbury London WC1B 4ET Telephone: (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 6 7 8 15 16 17 18 19 20 21 23 24 25 26 27 28 30 31 32 33 34 35 36 37 38 39 40 42 43 44 45 46 47 48

Price £170 £40 £40 £60 £180 £110 £160 £180 £160 £180 £110 £120 £40 £60 £40 £100 £180 £160 £160 £80 £150 £70 £110 £170 £90 £90 £380 £120 £80 £70 £80 £70 £40 £110 £130 £850 £700 £240

Lot 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86

Price £450 £350 £850 £600 £170 £70 £320 £200 £110 £800 £60 £130 £550 £750 £320 £520 £60 £260 £750 £1,900 £650 £230 £800 £550 £260 £580 £40 £4,000 £1,300 £2,500 £650 £420 £170 £230 £260 £260 £380 £480

Lot 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124

Price £400 £300 £380 £450 £320 £150 £170 £650 £260 £200 £60 £120 £250 £550 £350 £250 £320 £210 £190 £380 £210 £80 £180 £160 £100 £110 £80 £210 £950 £280 £230 £380 £350 £50 £260 £300 £200 £520

Lot 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 141A 142 143 144 145 146 147 148 151 152 154 155 156 157 159 160 162 163 164 165 166

Price £50 £130 £200 £200 £250 £60 £80 £160 £80 £70 £950 £90 £230 £190 £220 £170 £170 £160 £100 £180 £140 £160 £180 £130 £120 £290 £70 £110 £120 £110 £120 £50 £150 £110 £110 £110 £250 £150

Lot 167 168 169 170 171 172 173 174 175 176 177 178 179 180 182 184 185 186 187 189 193 194 195 197 198 199 200 201 202 205 209 210 211 212 213 214 215 217

Price £220 £280 £110 £220 £50 £140 £160 £200 £120 £120 £170 £60 £50 £110 £90 £60 £80 £60 £140 £150 £320 £2,100 £60 £50 £150 £140 £500 £50 £150 £60 £130 £100 £110 £110 £50 £150 £130 £80

Lot 219 220 221 223 224 225 226 227 228 232 234 235 236 238 239 241 243 244 245 246 247 248 249 250 251 253 254 256 257 259 260 261 262 263 264 265 266 267

Price £100 £80 £60 £350 £260 £120 £70 £60 £60 £70 £200 £120 £40 £40 £80 £45 £60 £50 £60 £40 £220 £40 £40 £40 £70 £520 £1,100 £2,300 £60 £260 £270 £160 £180 £650 £700 £170 £160 £700

Lot 268 269 270 271 272 273 293 294 295 297 298 299 300 302 303 305 306 308 309 312 314 315 316 317 319 320 322 323 325 327 332 333 334 336 338 339 340 341

Price £250 £260 £170 £50 £200 £380 £350 £150 £230 £350 £100 £150 £70 £200 £110 £40 £40 £100 £50 £80 £120 £130 £100 £110 £40 £150 £80 £150 £60 £100 £300 £170 £100 £60 £140 £450 £2,600 £60

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Lot 343 344 345 346 348 351 353 355 356 360 361 362 365 367 369 372 374 375 377 378 379 380 381 384 385 390 393 394 395 396 398 400 401 402 403 404 405 406 407 408 409

Price £70 £90 £80 £40 £70 £60 £60 £70 £50 £100 £60 £70 £80 £170 £120 £150 £160 £240 £180 £180 £100 £200 £60 £110 £1,000 £70 £70 £120 £110 £180 £140 £130 £40 £60 £60 £180 £600 £60 £110 £60 £100

Lot 411 412 415 417 418 419 420 421 422 423 424 425 426 427 428 429 430 432 433 434 435 436 437 438 439 440 442 443 444 445 446 447 448 449 450 451 452 453 455 456 457

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Price £40 £160 £80 £70 £40 £40 £40 £40 £40 £40 £80 £80 £110 £70 £100 £60 £110 £80 £230 £270 £140 £40 £230 £60 £50 £50 £150 £80 £80 £160 £40 £80 £70 £80 £120 £60 £260 £50 £70 £90 £140

Lot 458 459 460 461 463 464 465 466 467 468 469 470 472 473 475 477 479 480 482 483 486 487 488 489 491 492 493 494 495 496 497 498 500 504 505 506 507 508 509 510 511

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Price £180 £130 £170 £210 £210 £70 £150 £160 £200 £180 £160 £700 £100 £170 £50 £40 £110 £80 £100 £75 £70 £100 £60 £40 £70 £140 £140 £120 £140 £60 £100 £180 £110 £60 £70 £110 £210 £80 £60 £130 £80

Lot 512 513 514 515 516 517 519 522 523 524 525 526 527 528 529 530 532 533 534 535 537 538 540 541 542 543 544 546 549 551 552 553 556 557 558 559 560 561 562 563 564

Price £70 £70 £90 £80 £90 £80 £50 £60 £60 £70 £70 £90 £110 £100 £160 £110 £260 £240 £110 £140 £150 £140 £190 £110 £50 £60 £100 £40 £40 £160 £45 £50 £90 £230 £2,800 £350 £160 £60 £60 £250 £50

Lot 566 569 570 574 575 576 577 579 580 581 582 583 584 585 589 590 591 592 595 596 598 599 603 604 605 606 607 608 609 610 612 613 614 615 616 617 618 619 620 621 622

Price £140 £60 £60 £70 £60 £110 £70 £40 £100 £70 £70 £80 £50 £100 £70 £35 £80 £70 £70 £80 £30 £60 £120 £160 £90 £100 £110 £80 £190 £50 £80 £110 £80 £230 £90 £80 £120 £120 £400 £35 £60

Lot 623 624 625 626 627 628 629 631 632 633 634 635 638 639 643 644 645 646 647 648 649 650 652 653 654 655 656 657 659 663 664 665 666 667 668 669 670 672 673 674 675

Price £60 £90 £140 £75 £260 £150 £50 £50 £180 £60 £320 £50 £170 £60 £35 £40 £60 £65 £520 £70 £130 £130 £150 £500 £150 £70 £190 £70 £80 £130 £80 £80 £80 £240 £70 £200 £60 £80 £50 £80 £60

Lot 676 677 678 679 685 686 687 688 689 690 692 693 697 705 706 707 708 709 710 711 712 713 714 715 716 717 719 721 722 725 727 728

ARE YOU THINKING OF SELLING A COLLECTION OR SINGLE ITEM AT AUCTION? WITH OVER 60 AUCTIONS PER YEAR, HELD AROUND THE GLOBE, SPINK ARE HAPPY TO ACCOMMODATE YOUR NEEDS TO ACHIEVE THE BEST RESULTS. PLEASE CONTACT OUR SPECIALISTS TODAY FOR FURTHER DETAILS.

Price £80 £130 £240 £350 £160 £200 £80 £150 £260 £220 £40 £70 £30 £650 £200 £110 £110 £350 £180 £100 £80 £100 £180 £50 £320 £160 £130 £130 £110 £50 £40 £40

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THE

“AGATHON” COLLECTION

of Highly Important Essays, Proofs and Covers of the First Issue of Imperial Russia

29th November 2011 • London

1854 Eagle type surface printed essay. Unique Ex Fabergé.

1858 10K brown and blue on cover.

A unique combination.

Ex Mikulski.

The unique essay of the first stamp of Russia given as a personal gift from Tsar Nicholas II to Agathon Fabergé.

For more information please contact Tim Hirsch, 020 7563 4001 or thirsch@spink.com.

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Bonds and Share Certificates of the World

Auction Notes

www.spink.com

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The “Fordwater”Collection of Mint Australian Commonwealth with the Emphasis Being on Unmounted Mint

9th November 2011 • London

To request a catalogue or for more information, please contact Nick Startup: Tel: +44 (0)20 7563 4073 Fax: +44 (0)20 7563 4066 Email: nstartup@spink.com

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Bonds and Share Certificates of the World

Auction Notes

www.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.

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.

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.

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

4.4

4.5

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

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

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

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 In the event that you have received a Lot and wish to return the Lot you must notify us in writing within 7 days of receipt of the Lot, stating the reason for the return. The Lot must then be returned to us within 14 days of receipt, in the same condition as at the auction date. Any such request is subject to our sole discretion.

5

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

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

5.3

VAT Refunds General 5.3.1 As we remain liable to account for VAT on all Lots unless they have been exported outside the EU within 3 months of the date of sale, you will generally be asked to deposit all amounts of VAT invoiced. However, if a Spink nominated shipper is instructed, then any refundable VAT will not be collected. In all other cases credits will be made when proof of export is provided. If you export the Lot yourself you must obtain shipping documents from the Shipping Department for which a charge of £50 will be made.

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.

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.

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

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.

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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5.3.3 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 outside the EU 5.3.6 Where a Lot is included within the Auctioneers’ Margin Scheme and evidence of export from the EU is produced within 3 months of the date of sale, the VAT element included within the Buyer’s Premium may be refunded.

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

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

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Payment 5.4.1 You must provide us with your full name and permanent address and, if so requested, details of the bank from which any payments to us will be made. You must pay the full amount due (comprising the Hammer Price, the Buyer’s Premium and any applicable VAT) within seven days after the date of the sale. This applies even if you wish to export the Lot and an export licence is (or may be) required.

5.4.2 You will not acquire title to the Lot until all amounts due to us have been paid in full to us, even in circumstances where we have released the Lot to you.

5.4.3 Payment should be made in sterling by one of the following methods: II(i) Direct bank transfer to our account details of which are set out on the invoice. All bank charges shall be met by you.

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

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

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

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

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

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

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

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

5.8 Packing and handling 5.8.1 We shall use all reasonable endeavours to take care when handling and packing a purchased Lot but remind you that after seven days or from the time of collection, whichever is sooner, the Lot is entirely at your risk. Our postage charges are set out at the back of the catalogue.

5.8.2 It is the responsibility of the Buyer to be aware of any Import Duties that may be incurred upon importation to the final destination. Spink will not accept return of any package in order to avoid these duties. The onus is also on the Buyer to be aware of any Customs import restrictions that prohibit the importation of certain collectibles. Spink will not accept return of the Lot(s) under these circumstances. Spink will not accept responsibility for Lot(s) seized or destroyed by Customs.

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

5.10 Remedies for non-payment or failure to collect purchases 5.10.1 If you fail to make payment within seven days of your stipulated payment date set out in your invoice, we shall be entitled to exercise one or more of the following rights or remedies: 5.10.1.1 to charge interest at the rate of 2% per month compound interest, calculated on a daily basis, from the date the full amount is due; 5.10.1.2 to set off against any amounts which the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.4

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5.10.1.3 we may keep hold of all or some of your Lots or other property in the possession of the Spink Group until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property.

Following fourteen days’ notice to you of the amount outstanding and remaining unpaid, the Spink Group shall have the right to arrange the sale of such Lots or other property. We shall apply the proceeds in discharge of the amount outstanding to us or the Spink Group, and pay any balance to you; 5.10.1.4 where several amounts are owed by you to the Spink Group in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not you so direct; 5.10.1.5 to reject at any future auction any bids made by you or on your behalf or obtain a deposit from you before accepting any bids.

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

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

5.12 Export Licence 5.12.1 If required we can, at our discretion, advise you on the detailed provisions of the export licensing regulations. Where we advise you in relation to export licensing regulations the ultimate responsibility in respect of any export will lie with you and we will not be responsible for your failure to apply for any necessary licences.

5.12.2 If the Lot is going to be hand carried by you, you may be required to produce a valid export licence to us or sign a waiver document stating that a licence will be applied for.

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

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

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

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

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5.13.1.3 as soon as possible following return of the Lot, you must produce evidence satisfactory to us that the Lot is a Forgery and that you are able to transfer good title to us, free from any third party claims.

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

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

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

6 LIABILITY Nothing in these Terms and Conditions limits or excludes our liability for: 6.1 death or personal injury resulting from negligence; or 6.2 any damage or liability incurred by you as a result of our fraud or fraudulent misrepresentation.

7 COPYRIGHT 7.1 We shall have the right (on a non-exclusive basis) to photograph, video or otherwise produce an image of the Lot. All rights in such an image will belong to us, and we shall have the right to use it in whatever way we see fit.

7.2 The copyright in all images, illustrations and written material relating to a Lot is and shall remain at all times our property and we shall have the right to use it in whatever way we see fit. You shall not use or allow anyone else to use such images, illustrations or written material without our prior written consent.

8 VAT You shall give us all relevant information about your VAT status and that of the Lot to ensure that the correct information is printed in the catalogues.

Once printed, the information cannot be changed. If we incur any unforeseen cost or expense as a result of the information being incorrect, you will reimburse to us on demand the full amount incurred.

9 NOTICES All notices given under these Terms and Conditions may be served personally, sent by 1st class post, or faxed to the address given to the sender by the other party. Any notice sent by post will be deemed to have been received on the second working day after posting or, if the addressee is overseas, on the fifth working day after posting. Any notice sent by fax or served personally will be deemed to be delivered on the first working day following despatch.

10 ADDITIONAL PROVISIONS The following provisions of this clause 10 shall apply only if you are acting for the purposes of your business.

10.1 Limitation of Liability Subject to clause 6, we shall not be liable, whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation or otherwise for any: 10.1.1 loss of profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods, loss of contract, loss of use, loss of corruption of data or information; or 10.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

10.2 Severability If any part of these Terms and Condition is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable to the fullest extent permitted by law.

10.3 Force majeure We shall have no liability to you if we are prevented from, or delayed in performing, our obligations under these Terms and Conditions or from carrying on our business by acts, events, omissions or accidents beyond our reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving our workforce or the workforce of any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or subcontractors.

10.4 Waiver 10.4.1 A waiver of any right under these Terms and Conditions is only effective if it is in writing and it applies only to the circumstances for which it is given. No failure or delay by a party in exercising any right or remedy under these Terms and Conditions or by law shall constitute a waiver of that (or any other) right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that (or any other) right or remedy.

10.4.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law.

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10.5 Law and Jurisdiction 10.5.1 These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter, shall be governed by, and construed in accordance with, the law of England and Wales.

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

Postal Charges Prices for books (items sent by this method are not covered by insurance) Weight

UK

EU

Rest of the World

Up to 1kg

£8 for any weight

£12

£15

Up to 2kg

£8 for any weight

£18

£25

Prices for all other items including postage and packaging Invoice Value

UK

EU

Rest of the World

Up to £1,500

£10

£15

£20

Above £1,501

£20

£30

£40

Shipments of more than 2kg or volumetric measurement of more than 2kg have to be sent by courier. Certain countries may incur extra charge when courier services are required by our insurance policy. For lots sent by courier please contact Auctionteam@spink.com for calculation of any further relevant cost in addition to the above charges.

Value Added Tax (VAT) Charging of (VAT) at Auction The information shown on this page sets out the way in which Spink intends to account for VAT.

i.

Auctioneers’ Margin Scheme 1. Where possible, we will offer Lots for sale under the Auctioneers’ Margin Scheme. Such Lots can be identified by the absence of any symbol next to the Lot number in the catalogue and will not be subject to VAT on the Hammer Price.

2. Where Lots are sold using the Auctioneers’ Margin Scheme to VAT–registered businesses, the VAT included within the Buyers’ Premium is not recoverable as input tax. Upon request on sale day, we will issue invoices that show VAT separately on both the Hammer Price and the Buyer’s Premium. This will enable VAT-registered businesses to recover the VAT charged as input tax, subject to the normal rules for recovering input tax.

ii.

Zero-Rated Lots Limited Categories of goods, such as books, are Zero-rated (o) for VAT in the United Kingdom. Such Lots are offered under the Auctioneers’ Margin Scheme. In these circumstances no VAT element will be included within the Buyer’s Premium.

iii.

Daggered Lots Lots which are Daggered (†) in the catalogue are subject to VAT at 20% on both the Hammer Price and the Buyer’s Premium.

iv.

Starred and Omega Lots Lots which are marked (x) in the catalogue are subject to VAT at 5% on the Hammer Price and 20% on the Buyer’s Premium which is shown as inclusive of VAT. Lots which bear the Omega symbol (Ω) are subject to VAT at 20% on the Hammer Price and on the Buyer’s Premium. Such Lots bear VAT because the Lot is liable for VAT at this rate on importation into the EU.

v.

Investment Gold Lots Lots marked (g) in the catalogue are exempt from VAT on the Hammer Price and are subject to VAT at 20% on the Buyer’s Premium. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer.

vi.

Imported Lots Lots which are marked (x) and Lots which bear the Omega symbol (Ω) have VAT charged on the Hammer Price and Buyers’ Premium because they have been imported into the United Kingdom from outside the EU. In these cases we have used a temporary importation procedure, which in effect means that the point of importation is deferred until the Lot has been sold. At this point the Buyer is treated as the importer and is liable to pay the import VAT due. We will collect the VAT from you and pay it to HM Customs and Excise on your behalf.

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Group Chairman and CEO Olivier D. Stocker

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

Your Specialists Stamps Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano USA - Chris Anderson George Eveleth Andrew Titley Ed Robinson EUROPE - Guido Craveri Fernando Martinez Coins Julie-Morgane Lecoindre Richard Bishop William MacKay Arthur Bryant John Pett George Champ USA - Stephen Goldsmith Matthew Orsini Normand Pepin Banknotes, Bonds & Shares UK - Barnaby Faull Mike Veissid Francesca Girelli Andrew Pattison USA - Stephen Goldsmith Matthew Orsini Orders, Decorations, Medals & Militaria UK - Mark Quayle Oliver Pepys Books UK - Philip Skingley Alex Smith Autographs USA - Robert Litzenberger

UK - Tim Hirsch

UK - Paul Dawson

Your Europe Team Chairman’s Office Dennis Muriu Monica Kruber Directors Tim Hirsch Anthony Spink Auction & Client Management Team Emily Johnston Miroslava Adusei-Poku Luca Borgo Phillipa Brown Finance Alison Bennet Marco Fiori Mina Bhagat Alison Kinnaird Shyam Padhiar Billy Tumelty IT & Administration Berdia Qamarauli Maria Martinez Liz Cones Curlene Spencer John Winchcombe Your America Team Chairman Emeritus John Herzog Head of Numismatic Stephen Goldsmith Finance & Operations Manager Sam Qureshi Auction Administration Rick Penko Patricia Gardner Marketing & Design James McGuire Emily Cowin Clyde Townsend Finance & Administration Ingrid Qureshi Marcy Gottberg Ed Robinson Auctioneer Tracy Shreve Your Asia Team Gary Tan

AUCTION CALENDAR 2011/2012 Stamps 18 October 18 October 19 October 19 October 19 October 9 November 9/10/11 November 18/19 November 29 November 6 December

London London London London London London London New York London

11037 11042 11043 11044 11045 11041 11033 137 11034

15 January 26 January 23/24 February 16/17 March

Pearls of Arabia - Algeria, Tunisia and Morocco Pearls of Arabia - Egypt Pearls of Arabia Pearls of Arabia - Palestine Pearls of Arabia - Saudi Arabia The “Fordwater” Collection of Mint Australian Commonwealth Autumn Collector’s Series Sale The Collector’s Series Sale The “Agathon” Collection of the First Issue of Russia The Chartwell Collection - Great Britain King Edward VII Essays, Proofs and Issued Stamps Fine Stamps and Covers of Hong Kong and China The Winter Collector’s Series The Collector’s Series Sale The “Tito” Collection of South American Philatelic Rarieties

London Hong Kong London New York Lugano

11035 12005 12001

Banknotes 15/16 November 8 December 14 January

The Collector’s Series Sale World Banknotes Banknotes of Hong Kong and China

New York London Hong Kong

311 11020 12006

Bonds and Shares 15/16 November 16 November 14 January

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

New York London Hong Kong

311 11022 12007

Coins 15/16 November 13 December 14 January

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

New York London Hong Kong

311 11024 12008

Medals 24 November 19 April

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

London London

11011 12002

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

We insist that our printers source all paper used in the production of Spink catalogues from FSC registered suppliers (for further information on the FSC standard please visit fsc.org) and use inks containing non hazardous ingredients. Spink recycle all ecological material used on our premises and we would encourage you to recycle your catalogue once you have finished with it.

Spink offers the following services Valuations for insurance and probate for individual items or whole collections.

Sales on a commission basis either of individual pieces or whole collections.

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£25 SPINK LONDON

B O N D S A N D S H A R E C E RT I F I C AT E S O F T H E W O R L D

69 Southampton Row © Copyright 2011

Bloomsbury www.spink.com

London WC1B 4ET

16 November 2011 • London

STAMPS BANKNOTES MEDALS COINS BONDS & SHARES AUTOGRAPHS BOOKS

Bonds and Share Certificates of the World

16 November 2011 • London