PERSIAN BANK MINING RIGHTS CORP.

Lot 267: PERSIAN BANK MINING RIGHTS CORP.

Boone Shares - The Scripophily Center

October 29, 2016, 10:00 AM CET
Brussels, Belgium
0 saved

More About this Item


Description: 28 August 1890 Preferred Ordinary Shares of £5. brown. No 807. Folds. In 1890 the Persian Bank Mining Rights Corporation was founded by baron George de Reuter (son of Paul Julius, the founder of the Reuters news agency), with rights for 60 years to work iron, copper, lead, mercury, coal, petroleum, etc deposits notalready ceded to others. In fact its sole activity consisting of exploring an oil drilling concession in Persia for 10 years. The company raised a capital of £1,000,000 and the Persian Government was entitled to 16% of the net profits. The corporation drilled 3 wells, but even at the depth of 800 feet, no oil was struck. After 10 years of fruitless search and drilling, the company folded and in 1899 the Government announced the cancellation of Reuter's oil rights. Shows the lion and sun arms of Persia. One of the directors was Frederick Sassoon, of the Sassoon banking-house, and he has signed the share. Extremely rare piece.
Condition Report: VF
Request more information

Payment

Accepted forms of payment: COD (cash on delivery), MasterCard, Paypal, Visa, Wire Transfer
Shipping: Auction House will help arrange shipment, at buyer's expense.
Buyer's Premium
22.0%
From: To: Increment:
€0 €49 €5
€50 €199 €10
€200 €499 €20
€500 €999 €50
€1,000 €1,999 €100
€2,000 €4,999 €200
€5,000 €9,999 €500
€10,000 €19,999 €1,000
€20,000+ €2,000
Invaluable fee: Bidders using the Invaluable platform will be charged a 3% commission on the hammer price to (party) compensate for the Invaluable fee charged to us. Alternatively, absentee bids can be sent to us directly by email or on our website www.booneshares.com
Shipping Terms: Auction House will help arrange shipment, at buyer's expense.
View full terms and conditions