50 Highlights Teil 2 der 52. Auktion für Historische Wertpapiere Part 2 of the 52nd Auction for Old Stocks and Bonds Часть 2-я 52-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 nine 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. The kerfuffle because of the Brexit dominates the business news at the moment. But looking into the history shows that our wealth was created by joint actions, free trading and cooperation, and not by isolation. It is not the first time that Britain is in the centre. Other global changes started in England. The most important was the Industrial Revolution. The symbol of it is the Iron Bridge in Shropshire. The county was the centre of the economic development in the mid of the 18th century. Hard coal laid the basis for the industrial mass production of pig iron. This was used for the production of cast-iron rails for railways and for building bridges. „The bridge at Ironbridge, the world’s first bridge constructed of iron, had a considerable influence on developments in the fields of technology and architecture“, the UNESO justifies the status of the Iron Bridge as World Heritage. Cooperation through a joint-stock-company was not only used for financing the Iron Bridge, but also the East-India-Trade 200 years before. At first, for each journey a company was founded and dissolved, after the ship returned. The foundation of the first joint-stock-company, the V.O.C., changed this. Now the company could establish trade stations and build trade relations. A win-win situation. Bertha and Carl Benz also teach us, how important cooperation and solidarity is. Carl used the money of his wife to finance his inventions. After die founda- tion of his joint-stock-company, he got into trouble with his supervisory board and left the company. In his memoirs he writes about this time: „Only one hu- man stand by me in that days, when the ship of life goes to the downfall. This was my wife. Brave and courageous she hoisted new sails of hope”. The Historische Wertpapierhaus is a collaborative project, too. 20 years ago, on 3 May 1999, five students in Wuerzburg founded - in the mid of the New Economy boom - their own joint-stock-company, the ITS Innotech AG (HWPH AG was founded as a subsidiary company of ITS Innotech AG in 2001). The Historische Wertpapierhaus was the first project of the new company. You could discover yourself, what arose from the ideas of the five students. I invite you to start your own journey through nine centuries of financial history. Look out for parallels to today’s situation. The auction of the 50 highlights will take place on 4 May 2019 starting at 3.30 p.m. in Würzburg. Use this unique opportunity and write your own chapter of financial history. Sincerely yours, Matthias Schmitt The first joint-stock-company of the world: V.O.C The Iron Bridge: Symbol of the Industrial Revolution