JOHORE. BRUXELLES. Action de Capital de F100, specimen. brown, green. #100000. Formed in Brussels in 1920 to acquire the Endau rubber estate, in the southern Malay state of Johore. The price of rubber was very low after World War I, and this, with lower costs, higher productivity, and a low franc exchange rate, brought very serious competition from Indochina. Border vignettes of scenes of the rubber estate, and underprint of a view of sea and island. Attractive piece.