Canals, HSBC, and Charles I – Another Bond sale at Spink
SPINK LONDON | Spink sell many bonds and share certificates throughout the year in Numismatic Collector's Series Sales around the world, however, this May in London there will be 2017's first dedicated sale of Bonds and Share Certificates of the World. The sale will take place on the 19th May 2017, and is sure to attract collectors from around the globe to participate in this opportunity to acquire some top grade material. This sale contains three particularly interesting items that might be disparate, but are highly interesting and important in the world of scripophily.
The first of these items in the sale is lot 58, a Compagnie Universelle du Canal maritime de Suez, 3% Obligation F500, 2me Série, 4.6.1885, #32516. The famous Suez Canal Company was founded in 1858 by Ferdinand de Lesseps (1805-94). Initially, the majority of the shareholders were private investors from France, with Egypt also having a significant stake. After ten years of construction and despite bitter opposition by the British government, Lesseps and his company opened the canal in 1869. It had an immediate and dramatic effect on world trade. Combined with the American transcontinental railroad completed six months earlier, it allowed the world to be circled in record time. Only 4 of these bonds are known.
Lot 58, estimated: £600-800
The second item worth discussing is lot 199, a Hong Kong & Shanghai Banking Corporation, $125 [New] Shares, Shanghai 18, #45, issued to James Patrick Martin, signed as Manager by David McLean. Currently the earliest known HSBC share to come onto the market and issued to the one of the very first HSBC managers (James Patrick Martin, 1865). Endorsement top corner, mounted at extreme top edge but NEF and extremely rare [R12].
Lot 199, estimated: £1,200-1,500
The third of these interesting items is not of international worth like 58 and 199, but historically poignant and sure to pique many collectors' interests. Lot 449 is a Charles I, manuscript document of a Forced Loan of 1626, containing 39 lines of text ordering Dudley, 3rd Baron North to lend £100 to the crown. It bears the signature of Charles I at the top, and Charles states:
'The accidents of Germany and the intelligences wee receave from divers other parts have made the Kings needs more urgent than he had stated in a previous letter in August, caring (as befitts us) to have our kingdomes defended, our Allies succoured (that are so ingged for us), the partie of religion supported, which are now so strongly opposed: the King therefore requires that every one, both Lords and others, who were assessed the last subsidy should lend unto us for a time that entire somme which he was assessed at: as he that was assessed at one hundred pounds to lend us one hundred pounds.'
The forced loan of 1626 was a disastrous opening of the King's reign and was prompted by Parliament's refusal to subsidise the King's intended war with Spain rather than the aforementioned intelligence gathering in Northern Europe. In the 1630's Lord North was described as the least estated lord in the Kingdom and much of his time was spent on the Continent, presumably to avoid the constant demands of the crown. It is a beautiful document, with a rich depth of information and detail about a particularly interesting and turbulent time in English history.
Lot 449, estimated: £4,500-5,000
For more information, please contact Mike Veissid:
Tel: +44 (0)20 7563 4075 | Email: [email protected]
SPINK LONDON | 69 Southampton Row | Bloomsbury | London | WC1B 4ET
Spink is the world's leading auctioneer of stamps, coins, banknotes, medals, bonds & shares, autographs, books and wine. Since its foundation in 1666, the Spink name has become synonymous with tradition, experience and integrity. Holder of royal warrants and numerous records for prices achieved at auction, Spink offers an unparalleled range of services to collectors worldwide. Headquartered in London, with offices in New York, Hong Kong, Singapore and Switzerland, Spink holds over 70 auctions a year. Catalogues can be accessed through the Spink website (www.spink.com) or via the Spink App for iPhone and iPad.