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Lot 687: HALLAGE PAR LA VAPEUR A POINTS FIXES SUR LE RHONE

Auction No.57 of Antique Stocks & Bonds

by Boone Shares - The Scripophily Center

29 October 2016

Brussels, Belgium

Live Auction
Past Lot
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Description: 1 July 1826 PARIS. Titre Provisoire d'une Action de F10.000. green, black. No 323. Folds with one tiny whole. Formed by Seguin, Montgolfier and Ayme in Paris, 1825, to provide a solution to the endless problems of transporting goods up the Rhône valley, by replacing horses with steam-powered tugs. The problems of transporting goods upthe Rhône valley were notorious - the variations in water-level and the force of the current caused endless delays and accidents, and made schedules impossible. This company planned to introduce tugs, each with an engine of 40hp, able to tow 6 to 8 loaded barges, taking 12 days from Arles to Lyon. The cost at that time was 5 to 7 francs per 100Kg (or 10 or more on land), while the company would charge 4 francs only. This would give the company 240.000 francs per year for each tug, against costs of 170.000 francs, so would be profitable. The Seguin family were great bridge-builders, and the Montgolfier founder was a descendant of the famous Joseph Montgolfier, and relative of the Seguins. Only piece known to us - rarity 12.

Condition Report: VF

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