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Lot 1141: PESCARIAS REAES DO REINO DO ALGARVE, CIA. GERAL DAS
29 October 2016
Brussels, BelgiumLive Auction
Description: 1774 ALGARVE. Acçao de Rs.100$000. black. No 446. Shares of only 4 18th-century Portuguese companies are known; and this of this particular fishing company, only 3 issued 1785 were known to date. Yet, what we offer here is a share from 1774, as part of the initial foundingcapital (and thus not from the 1785 capital increase). The company was founded by Royal Charter of January 15, 1773 with a capital of 80.000 Reis divided into 800 shares. Its main promoter was the Portuguese Prime Minister at the time, Sebastiao José deCarvalho e Melo (1699-1782), 1st Marquis of Pombal. He is still remembered of as a major moderniser of the country, as well in the administration, the culture (enlightment) as with regard to economic policy. As a matter of fact, the Act of Foundation ofthis company clearly states it was established to counter the economic difficulties currently present in the Algarve. The company fished mainly for tunny along the southern coast of Portugal (in the Atlantic). In 1835, a new fishing company was established as immediate successor to the 1773 company. The share suffers from a large water stain, at most places hardly visible. Also some brown staining at the left side. We see a great and fully intact company seal, showing a fisherman pulling the fishing-nets into his boat.Rarity 9.
Condition Report: F-VF