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Lot 1092: OTTOMAN RAILWAY CO. FROM SMYRNA TO AIDIN

Auction No.57 of Antique Stocks & Bonds

by Boone Shares - The Scripophily Center

29 October 2016

Brussels, Belgium

Live Auction
Sold
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Description: 12 December 1862 LONDON. Share of £20. black, pink. No 11991. By the 1850s there was an obvious need to reduce the long time taken for camel transport between Smyrna (today Izmir) and its wide, rich hinterland. A concession for a railway from Smyrna to Aidin was granted in 1855, and a company was formed in London in 1857. The capital was £1.200.000, in 60.000 shares of £20. The shares proved very difficult to sell, both in England and in Turkey. After endless delays, the first part of the line opened in 1860, and the rest of the 133km line in 1866. The line waslater extended further inland, with branches, to a total length of some 550km. It made a remarkable difference to the economy of the region, improving prosperity and security. The line was nationalised in 1935. This is one of the very few original shares to have survived. It is printed in English, French and Turkish (Arabic script). The second oldest Ottoman share we known of.

Condition Report: VF

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