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Auction: 11006 - Bonds & Share Certificates of the World
Lot: 550

Photomaton Parent Corporation Ltd., a set of 4 bearer warrants for 10, 25, 50 and 100 shares of 5 shillings, 19[28] or [29], ornate borders, black, blue, brown and mauve respectively, text in English and French, with coupons, the first extremely fine, the second with small tear at right edge, the last with edge tear at bottom left otherwise very fine. (4) Estimate £ 80 The company was set up by Clarence Hatry in 1928 to operate photograph machines in hundreds of public places such as railway station platforms, etc. Numerous foreign offshoots were also organised and the company looked very successful. Problems started in 1929 with Hatry´s manipulation of share prices and some fraudulent issuing of municipal stocks by one of his companies. The events of 1929 caught up with Hatry despite his propping up of prices with his own funds. Hatry actually acquired nearly three quarters of the issued photomaton stock but by 1929 money had run out and the Hatry group collapsed owing about £14 million. Hatry himself was tried for fraud and sentenced to 14 years in prison.

Sold for
£60