03 ALLIER. PARIS. Part de Fondateur. brown, red. No 119. Folds. Jugendstil/Art Nouveau piece, engraved by Charles Crabbe, with views of Vichy and the company's installations at the Source des Fées, as well as 2 lovely ladies. The certificate helpfully lists all the problems resolved by drinking Vichy water. The company was formed in 1901 to exploit 3 sources at Cusset, adjacent to Vichy. It had some success and was still in business, selling the water, in 1914. However, the company seems to have disappeared about 1924/5. The sources were sold to another company, which later closed them. One of the kiosks which sold the water has survived, in a Vichy park. Vichy is one of the best-known and most fashionable of French thermal resorts ; there are many sources, some hot and some cold, with different medical applications. Vichy waters are generally rich in sodium bicarbonate, and are usually drunk, although bathing is also a method of treatment. First time we can offer this lovely founder share.