Result list 31 October 2020

The results of our October 31 sale are now online. Unsold items can be obtained in our aftersale until November 29 (first come, first served). .

Lotnumber: 233
ROTTERDAM. Aandeel FL.5000. Serie 4. brown, grey, black. No 312. Heavy folds with 5 considerable tears (repaired). Attractive border. The company was founded in 1868 to trade with Congo (thus before the Belgians had arrived!). The founder was Lodewijk Pincoffs, an important Rotterdam businessman (linked to the Rotterdamsche Bank/ABN-Amro, the Nederlands-Amerikaansche Stoomvaart Mij/Holland-Amerikalijn and the Rotterdamsche Handelsvereeniging). He succeeded in raising money for his company from the famous banker Mees and even from Prince Hendrik, brother of the Dutch King. The first years were very profitable and a dividend of 10% was distributed almost annually. When in 1877 the Dutch division of the AIA (=Association Internationale Africaine) was created, Pincoffs and Prince Hendrik were amongst its members. The Afrikaansche Handels-Vereeniging would give free (!) transport from and to Congo. In return the company would receive from King Leopold II a monopoly on the trade and commercial shipping on the Congo River. The King did not stick to this promise so the company came into difficulties. Moreover, Pincoff had been cheating with the books of the company. As a result of all this, the company went bankrupt and Pincoff fled to New York. The deficit of the company was huge for those days: 9,5 million guilders. It even almost drove R.Mees & Zoonen into bankruptcy. An important early piece of Congo's history.
Themes: COLONIES
BELGIAN CONGO, NETHERLANDS
Date: 1 January 1869
Quality: F
Startprice: € 100