Result list 1 April 2017

The results of our April sale will be available here on April 2.

Lotnumber: 581
LUXEMBOURG. BRUXELLES. Action de F1000. black. #6000. No 2970. Thin paper with folds and several edge-splits. Founded 1837. The owners of a factory in Liège for the manufacture of nails needed a good supply of iron. There was a strong demand for nails (for which the Luxembourg ore was very suitable) so with the helpof the Société Générale de Belgique, it was decided to form a company to smelt that iron (as well as other industrial activities). The initial capital was F6.000.000, of which half was issued immediately, in 3000 shares of F1000 each. Initial directors were V.Zoude, F. de Macar, F.X. Benard, F. de Meeus (governor of the Soc. Générale) and J.A. Coghen. The company bought and renovated old smelters at Grundhof and Fischbach, in what is today the Grand Duchy, as well as in Pont d'oye (Habay region). The latter is since 1839 a town in the Belgian province de Luxembourg, but when this company was founded (1837), still part of the bigger Grand Duché (which was in a personal union with the Dutch King). The Société Générale subscribed for a large parcel of the shares. However, results were not good. The production of the nail factory was poor, and the company's other projects had been slow to materialise. The results for 1840 showed that the capital was exhausted. The company was in liquidation by 1842. That process took until 1858, when F495 had been paid out on each share (as shown by stamps on the share). The earliest Luxembourg share known, and very rare - only two other pieces known to us. Rarity 10.
Themes: METAL & ENGINEERING
BELGIUM, G.D.LUXEMBOURG, NETHERLANDS
Province: BRABANT, LUXEMBOURG
Date: 9 October 1837
Quality: F
Startprice: € 800