European Shares And Bonds (Non-US)

100 rubles bond issued by the Vladikavkaz Railway in North Caucasus. Issued Sept 1, 1918 at 5.4 % interest, to be redeemed after two years, Sept 1, 1920, or for up to 10 years after that date.

The bond was issued in the midst of a civil war in North Caucasus between three armies, that followed on the Russian Revolution of 1917. The value of regular government bank notes was shaky, and these bonds - considered trustworthy as they were backed by the railway and its large foreign investors - could be used as payment at the railway and governmental institutions (as stated on the bond). Soon they became used as currency in general.

In 1920, however, the Russian Red Army took over. The railway was nationalized and all its bonds declared to be without value.

I have described this interesting bond in more detail (including a full translation) in an earlier post: http://goccf.com/t/389119




The steam locomotive is a Class L express passenger locomotive, the most powerful passenger locomotive in the Russian Empire.


The detailed map shows the railway network. I have added some translated names.

Very attractive bond and interesting story. Thanks for posting. Have you collected any of the other denominations?

If you've been following the railroad topic, you'll notice I've been featuring vignettes designed by A.E. Foringer. Here's another one on a stock for Royal Dutch Petroleum.

I don't often pick up non-engraved securities, which usually excludes stocks and bonds from Europe, since these were typically printed lithographically. But this German bond caught my eye with an attractive design and an aviation theme. Atlantis Airlines was founded in 1966 and flew out of Frankfurt. But it wasn't a typical commercial carrier -- instead of scheduled flights, it partnered with tour companies for trips to the U.S. and Mediterranean. Unfortunately, these charters were not enough to provide financial stability and the company folded in 1972.

At 50 Deutsche Marks, this is an unusually small bond -- it would have been worth about $12 U.S. when issued in 1969.

Great examples in this thread.

Nice examples!

Very nice!