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Auction: 11022 - Bonds & Share Certificates of the World
Lot: 436

London and South Western Railway, an extremely interesting pair of scrip certificates for one share of £50, 1847, one, no.1370 apparently a genuine issue on Smith & Ebbs watermarked paper, red printing, signed by the directors but not the treasurer, ink cancelled on face, the other, no.1507, with identical printing, signed by two directors and the treasurer but stamped forged in several places, and the paper appears to have had the ´watermark´ added afterwards, very fine. (2) These are an excellent illustration of the problems created by the issue of ´bearer´ scrip such as these. The forged certificates could be traded and money passed before anyone became aware of the fraud. Bearer issues such as these were soon discontinued . Estimate £ 100-120

Sold for
£110