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Auction: SW1014 - Bonds & Share Certificates of the World
Lot: 150

Società Navigazione e Ferrovie pel Lago di Lugano. 4½% Obligation Fr. 1000. Lugano, 1st January 1885. The Società di Navigazione e Ferrovie per lago di Lugano (SNF) was established in 1873, with the purpose of constructing and operating a transport link from Menaggio, on Lake Como, to Luino, on Lake Maggiore, via Lugano. Although both ends of this link were in Italy, the Company was financed by Swiss investors and was registered in Lugano. Previous plans were to build a end-to-end railway throughout. But financial difficulties led to a revised plan which was eventually implemented. This involved the construction of two unconnected railways, both entirely located within Italy. The Menaggio-Porlezza railway and the Ponte Tresa-Luino railway were linked by steamboats, between Porlezza and Ponte Tresa on Lake Lugano. The outbreak of World War I lead to a considerable loss of traffic and additional financial problems. In the year 1909, the SNF decided to sell its railways to the Società Varesina per le Imprese Elettriche (SVIE) and concentrate on operating its steamboat services on Lake Lugano. After this sale, the Company changed its name to the Società Navigazione del Lago di Lugano. (See next lot). This bond was secured by the railways Porlezza-Menaggio and Ponte-Tresa-Luino. Map of the railway at the back. EF.

Estimate
SFr300 to SFr500