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Auction: 23145 - Bonds and Share Certificates of the World - e-Auction
Lot: 701

U.S.A.: Spencer Arms Company, $100 shares, New York 188[5], #88, vignettes of 2 pump action shotguns and hunters with dog, black. Spencer developed the repeating rifle during the Civil War but got into financial difficulty in the late 1860's and the company was bought by the Fogarty Repeating Rifle Company. Spencer then turned to the invention of the pump action shotgun and this company was formed in May 1883. Sales failed to meet expectation and the company was bankrupt by 1890. VF and rare.

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£200