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6

Dear Sir or Madam,

We are proud to present a high quality scripophily offer.

The 50 highlights of the auction are shown with large pic-

tures and texts in German and English or Russian langua-

ge. As done in the last auctions we divided the auction in

two parts. The first part is the 39th auction (public auc-

tion) at October 17th. It contains the lots 1 to 930. It is

our goal to offer in the public auction those lots, which

are interesting for collectors attending our live auctions.

Therefore you will find many rare items in our 40th auction

(online auction), too. This auction contains the lots 931 to

1,971. Please use our indices and our search engine at our

web page. The web page is available in eleven languages! At

the web search you can also combine your search. You can for example only

look for items from one idustry from one country. This will give you a quick

overview over the items which are fitting in your collection.

One focus at our autumn auction is scripophily from Germany. We got one

of the oldest German collections consigned. Several items of this collection

were bought on an auction which took place on 3 April 1977. The auction,

held by the Berliner Disconto Bank, was the first big German Scripophily

auction. The items were in the collection since that time. The first part of

this collection was auctioned on our spring auction.

We introduce a rarity code at this auction. Togehter with other major Scri-

pophily auction houses we have aggreed to adopt the rarity code system

which was inventet by AG für Historische Wertpapiere.

We will give rarity codes for all items with start prices of

Euro 500 and above. Our goal is, that you can realise quic-

kly how rare an item is. We have added some booksmarks

with the rarity code scheme on it. With the bookmark you

have the rarity codes always ready while working with the

catalogues.

The auction will take place in the Erbprinzenpalais (IHK-

Building) at Wilhelmstr. 24 in Wiesbaden (Germany). Please

feel free to contact us for free maps. After the auction there

will be a dinner. If you want take part there, please make re-

servation with our office (e-mail:

auktion@hwph.de

or Tele-

phone: +49-8106-246186). Deadline is October 14th.

Our spring auction 2016 will take place in Würzburg on April 16th, 2015.

We will hold an auction in Wiesbaden in October 2016 again. We are

looking for high quality consignments and whole collections for these two

auctions already now. Please make your suggestions and send me an e-

mail to:

auktion@hwph.de

.

Have fun and good luck at finding new items for your collection!

Matthias Schmitt

Auction: Saturday, October 17th, 2015

9.00 a.m.

Viewing

11.00 a.m.

Auction (Lot 1 to 492, with coffee break)

2.30 p.m.

coffee break

3.00 p.m.

Auction TOP 50 (Lot 493 to 542)

3.20 p.m.

Auction (Lot 543 to 926, Russia, Papermoney)

6.00 p.m.

Auction (Lot 927 to 930, Speculation)

6.10 p.m.

(Expected) End of the auction

7.00 p.m.

Dinner at (registration required until 14 October!)

Venue / Location

Erbprinzenpalais (IHK-Building), Wilhelmstr. 24, 65183Wiesbaden, Germany

You will find a helpful map at the webpage of the IHK:

www.ihk-wiesbaden.de

-> Über uns -> Ansprechpartner / Anfahrt

You will find a description of how to get there on page 7 (in German). We provide you

also with maps in major languages (German, English, French, Russian) for free. Please

feel free to contact us and request your map.

Absentee Bids

If you are not able to attend the auction: please send your bids as soon as possible, to

reach us by at least Friday, October 16th, 2015, noon (German time).

You can fax the bid sheet to:

From abroad: +49  8106 24 61 88

We confirm the receipt of your bid sheet via e-mail!

Your Contact Person

Matthias Schmitt:

schmitt@hwph.de

Tel.: +498106 24 61 86 or mobile +49  160 1527591

Index:

Auction Rules German

4

Important Notes German

5

Preface English

6

Auction Rules English

7

Description of how to get there

7

Important Notes English

8

Special on behalf of Amtsgericht Düsseldorf

9

Asia and Mid-East

17

Australia

18

North, Middle and South America

19

Autographs

21

Africa

21

Europe

21

18th Century

26

Varia

28

Germany before 1948

28

Currency history on stocks

55

DM-Papers

55

Russia

68

Papermoney

90

Speculation

108

Index by Region

Inserts

Index by Industry

Inserts

Index by Country

Inserts

Sources

110

Consignors List

110

Bid Sheet

113

Preface

+++

Beware of delivery date cut off! Friday, October 16th, noon!

+++ Online Auction: October 19th, noon! +++

Beware of delivery date cut off!

Postal adress

HWPH Historisches Wertpapierhaus AG

Ingelsberg 17b, D-85604 Zorneding, Germany