Previous Lot Next Lot

Auction: 16018 - Bonds and Share Certificates of the World
Lot: 1168

South Sea Company, a manuscript power of attorney to sell South Sea stock, April 1720, in favour of Thomas Snow the goldsmith banker, signed by William Peere Williams as owner of the stock with signatures of two witnesses, AVF.

The South Sea Company had been formed in 1711 in the hope that the Government might be relieved of the burden of the National debt by its investors becoming willing to exchange their holdings for shares in the new company. It never made any profits and in 1720 the newly electred Government was content to take part in an excercise to ramp up the shares to provide capital profits. On April 7th 1720 the Government passed the Act for conversion of the debt. South sea Stock had risen from 218 to 350 at the time of this document and peaked on July 7th at 1100. The crash followed and the stock was down to 129 by the end of the year. Williams was a lawyer and MP for Bishops Castle from 1722 to 1727.

Subject to 20% VAT on Buyer’s Premium. For more information please view Terms and Conditions for Buyers.

Sold for
£190