Result list 9 November 2019

The results of our November 9 sale is now online. Unsold items can be obtained in our aftersale until December 8 (first come, first served). .

Lotnumber: 226
PARIS. Part de Fondateur (1-5 Parts). brown. No 25262. Formed Paris 1896, probably to operate a hotel in the small Pyrenees state of Andorra. The company capital of 200.000 francs was divided into 2000 shares. Apart from the capital shares, the company also issued an unknown number of founder shares to which 80% of the company benefits would be distributed. A very unusual feature in terms of financial economics is that each of the founder shares was (upon original issue) divided into 5 parts. What we offer here is an extremely rare full set of five 1/5 founder shares which together form the founder share No. 25.262. Over the 25 years of our existence, we have discovered very little scripophily from Andorra: 7 different companies of which this is one of only three from the 19th century. Lot of 5 certificates, no coupons cut. Small folds at right border.
Date: 15 February 1896
Quality: VF
Startprice: € 300