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Auction: SW1008 - Bonds and Share Certificates of the World
Lot: 164

Fiat - San Giorgio. Una Azione da 100 L., Torino, 28 Marzo 1917. Nr. 00031. In 1905 in Muggiano, la Spezia, the shipyard Company “Fiat Muggiano” was founded with the aim of building motorboats in cooperation with FIAT’s mechanical workshops in Turin. However, this activity didn’t deliver the expected economic results. In 1907, the new shipyard was refinanced by the San Giorgio Company in Sestri Ponente, becoming “Fiat-S.Giorgio”. It was decided to use the shipyard to build submarines, a there was a high demand from many European and American Navies. Technicians and specialized workers were hired, in particular the well known Engineer Cesare Laurenti, who was soon appointed Director of the shipyard. In 1907, the first submarine built in the Muggiano Shipyard was launched, the “Foca”, 185 tons. In 1908, two submarines for two foreign Navies were built, the Swedish “Hwalen”, 185 tons, and the Danish “Dykkeren”, 105 tons. These submarines, all with petrol engines for navigation on the surface of the sea, gave impressive results: the “Hwalen”, crossed from La Spezia to Stockholm on its own power despite stormy conditions in the Gulf of Biscay. In 1913, the increase in of submarine construction required more personnel and finance, so Fiat-S.Giorgio acquired the neighbor shipyard, with a long tradition, the “Cantieri Navali Riuniti”. During the First World War the shipyard built 15 “Medusa”-Type submarines for the Italian Navy and 7 for foreign Navies. In 1918 the Perrone family, owner of the famous Ansaldo SA, joined the Company and it was renamed “Ansaldo S.Giorgio”. The Company was booming and had prestigious clients like the Royal Italien Navy, Lloyd Triestino and many foreign Navies. At its peak it employed nearly 5’000 workers. Subsequently the shipyard changed name and ownership several times. Finally in 1984 it was taken over by “Fincantieri Cantieri Navali Italiani S.pA.” and still today the Muggiano Shipyard is constructing ships for the Italian and other Navies. EF.

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SFr1,800