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Auction: 13017 - Bonds and Share Certificates of the World
Lot: 360

Kongelige Danske Westindiske Handels Selskab (Danish West India Company), certificate for one share of 100 riksdalers, Copenhagen 1778, no.3625, signed by Carl Heinrich Schimmelmann, Ernst Schimmelmann, Chr. L. Stemann and others, attractive vignette of allegorical figures with sailing ship, barrels of goods and beehive, black on laid paper, ink cancelled, very fine and scarce

The company was founded in May 1778 with a capital of 500,000 Reichsdaler to trade into the West Indies and take advantage of the war between the American Colonies and Great Britain. The company flourished for a few years paying dividends of up to 40% on a regular basis and the share value was increased from 100 to 300 riksdaler. When the war was over competition grew from many other trading companies and the company struggled on until 1785 when most of the capital was lost. Liquidation took place with help from the Danish Government who issued 4% bonds to shareholders valued at 200 riksdaler each in addition to the meagre 60 riksdaler in cash that was all that was left for each share.
Carl Heinrich Schimmelmann (1724-1782), born in Pomerania, started his business career trading goods such as coffee and sugar in Dresden, later obtaining lucrative contracts to supply the Prussian Army with various goods. He was asked by the King of Denmark for help in improving their trade and was appointed Superintendant of Commerce and created a Baron in 1762. He owned several plantations in the West Indies and a sugar refinery in Copenhagen.


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Sold for
£900