Result list 9 November 2019

The results of our November 9 sale is now online. Unsold items can be obtained in our aftersale until December 8 (first come, first served). .

Lotnumber: 1087
TORINO. Cedola di Fondazione - Coupon de Fondation. red, black. #1000. No 860. Central fold. Small bit of paper missing from left bottom corner (outside the printed part of the cert.). Tiny hole. A founders share of the Crédit Mobilier Italien, founded by the Péreire brothers (Emile and Isaac). They wished to export their revolutionary idea of a merchant bank to finance the industry from France ("Soc. Gén. de Credit Mobilier") to other European countries. At first they founded the Crédit Mobilier Espagnol, later similar institutions in Turkey (Banque Impériale Ottomane,1863), the Austrian-Hungarian Empire (Crédit Foncier, Co. Immobilière) and this Crédit Mobilier Italien are founded. During the second half of the 19th century, the young Italian state was lagging in terms of industrial development when compared to France and GreatBritain, in the absence of an autonomous capital market or of institutional banks who were directly involved in the capital accumulation process. So there were things to do for the Crédit Mobilier Italien. Together with the Banca Generale, they started modernizing the Italian economy. The Péreire brothers invested for instance in the construction of the Italian railroad network, the iron industry and the Italian mining companies. In 1893-94, a serious economic and banking crisis led to the demise of the Credito Mobiliare and the Banca Generale, and their substitution by mixed banks. Later issues of the Credito Mobiliare are well known, but this founders share is extremely rare. The text is in Italian and French and thecertificate looks very much like the French Crédit Mobilier share. Signed by Emile Péreire and (perhaps also) Isaac Péreire (not very clear).
PEREIRE, Emile and Isaac
Date: 31 May 1863
Quality: VF
Startprice: € 300