50 Highlights Teil 2 der 50. Auktion für Historische Wertpapiere Part 2 of the 50th Auction for Old Stocks and Bonds Часть 2-я 50-го аукциона антикварных ценных бумаг

5 Abkürzungen / Abbreviations Abkürzungen und ihre Bedeutung: Abb. = Abbildung = Picture AG = Aktiengesellschaft = Joint-stock company Faks . = Faksimile-Unterschrift = printed signature Nr. = # = Nummer = number o. D. = ohne Datum = without date o. Nr. = ohne Nummer = without number RM = Reichsmark = reichsmark (old German Currency) OU = Original-Unterschrift = original signature KB = Kuponbogen = all coupons KR = Kuponreste = rest of coupons DB = Doppelplatt = double sheet of paper RB = Reichsbankschatz = Reichsbank Hort Maße: Alle Maße sind in cm in der Form Höhe mal Breite angegeben. All measures mean hight x width (1 cm = 0,3937 inch). Erhaltungsgrade: UNC = uncirculated, neuwertig, vollständig erhalten, ungefaltet, außer zwischen Mantel und Kuponbogen, Papier sauber (ohne Flecken), ungelocht usw. EF = extremely fine, außerordentlich fein, fast neuwertig, vorzüg- licher Zustand, sehr leichte Gebrauchsspuren, im Mantel höchstens einmal gefaltet (dies darf nicht zu streng genommen werden, denn da die meisten US-Bonds großformatig sind, wurden sie auf Westentaschenformat gefaltet, dies stellt aber keine Wertminderung dar). VF = very fine, sehr fein, gefaltet, mittlere Gebrauchsspuren, schwach gefleckt, kleinere Randeinrisse, Klammerlochungen usw. F = fine, stärkere Gebrauchsspuren, mehrmals gefaltet, mäßig starke Flecken, leichte Risse sowie kleinere Fehlstellen in der Falz möglich usw. Introduction We welcome you to our journey through five centuries of financial history. In this catalogue at hand we present the 50 finest, most interesting, for the economic development most im- portant and rarest stocks and bonds of our auction. Let’s start our time journey in Europe in the 17th and 18th century. This time was domina- ted in Europe by the pursuit to the treasures of Asia. In many countries daring businessmen and speculators initiated trading companies to import the precious commodities like spices, pearls, or silk from Far East. A real international business: one of the first German colonial companies was the Compagnie Royale de Bengale, located in Emden. The company was initiated by the Englishman named Harris, who raised more than half the share capital in Flanders, to sail to Far East. That such investments bear risks, most investors bitterly experi- enced: they lost three quarters of their money invested. But the 17th and 18th century delivered only a foretaste of what came in the 19th century. Boom and Crash several times have lain close together in this century. The two „heroes“ on the cover of this catalogue entered the history books with very large scandals two times. Jay Gould and James Fisk jr. were rivals of Com- modore Cornelius Vanderbilt all that time. In the Erie War, Gould, Fisk, and Daniel Drew issued illegal Shares of the Erie Rail Road Company, and let run Vanderbilt into the knife. In 1869, Gould and Fisk planned a corner of the gold market. The corner failed and caused a Black Friday at the financial markets in the United States. We read of scandals on the stock market most of the time, but we should not forget, that many Scripophily items are witness of good companies, and successful investments. One sucessful example is the Suez Canal. When the canal, initiated by Ferdinand de Lesseps, was nationalised in 1954, a very successful investment was closed for investors. The shareholders received 23 Million Egyptian Pounds from the Egyptian Government. I invite you to start your own journey through five centuries of financial history. Look out for parallels to today’s situation. The auction of the 50 highlights will take place on 15 September 2018 starting at 3.10 p.m. in Würzburg. Use this unique opportunity and write your own chapter of fi- nancial history. Sincerely yours, Matthias Schmitt The oldes German Share Certificate. Ferdinand de Lesseps foun- ded the Compagnie Univer- selle du Canal Maritime de Suez. Investors in the com- pany made huge profits.