Archives International Auctions Sale 58 U.S., Chinese & Worldwide Banknotes, Scripophily, and Security Printing Ephemera and Historic Ephemera April 7 & 8, 2020

Archives International Auctions - Sale 58 109 April 7-8,2020 Archives International Auctions www.archivesinternational.com 678 678 Uris Buildings Co., 1960 Specimen Stock Certificate. New York, Odd Shares, Buildings with “U” logo in middle, pea green, Common Stock, Specimen overprints, POC’s, uncirculated. SCBN. (Ex. John E. Herzog Collection) ��������������� Est. $50-100 679 679 Various New York Banking and Financial Company Cancelled Stock Certificates, 1931-1945 New York. Lot of I/C Stock Certificates from Irving Trust Co., Harmonia Fire Insurance Co., and the Manhattan Co. All are in Fine- VF condition. 7 Pieces.������������������������������������������������������������������������������������������������ Est. $40-65 Pennsylvania 680 680 FireAssociation of Philadelphia, 1920s SpecimenStockCertificate Pennsylvania. Odd Shares Capital Stock Specimen Certificate, Black print on green border and under tint, Hose and hydrant at top, Specimen overprints and POC’s, VF-XF condition, “Return to Record & Specimen Dept.” stamp at top.����������������������������� Est. $80-140 Switzerland 681 681 IOS Investment ProgramSpecimen Certificate, ca.1960s Cornfeld &Vesco ScamStock. Switzerland, ND (ca. 1960s) Specimen Program Certificate, Black text with gray border and undertint, Eagle about to take flight in oval to left. Red specimen overprints, “00000” serial number, POC’s and extended margins with perforations, VF condition, ABNC. Investors Overseas Services, Ltd. (IOS) was founded in 1955 by financier Bernard Cornfeld. The company was incorporated outside the United States with funds in Canada and headquartered in Geneva, Switzerland. In the 1960s, the company employed 25,000 people who sold 18 different mutual funds door-to-door all over Europe, operating mostly in Germany with small investors. The company mainly targeted American expatriates and U.S. servicemen who sought to avoid paying income tax. The mutual fund offerings by the company were called “people’s capitalism” by founder Cornfeld. In the following decade, the company raised $2.5 billion, due in part to its “Fund of Funds,” which meant investment in shares of other IOS offerings. The offering was very popular in the bull market times, but then the market dropped and the guaranteed dividends had to be paid straight out of the capital—in effect, making it a pyramid scheme. IOS was forced into an Initial Public Offering to meet its costs. The next bear market made many investors cash their funds as stock value decreased. Share value decreased from $18 to $12 in the spring of 1970. Cornfeld formed an investment pool with some other investors, but they lost when the share value dropped to $2. Even IOS employees and portfolio managers sold their shares by this time. Financier Robert Vesco who, at the time, was also in financial trouble, turned to Cornfeld and offered his help. Vesco proceeded to use $500 million worth of IOS money to cover his own investments in his International Controls Corporation. When he was discovered, Vesco fled to Costa Rica. IOS then collapsed and in the process ruined a number of US and European banks. �������������������������������������������������������� Est. $100-200 Various 682 682 Financial and Bank Related Issued Stock & Bond Certificates, 1862-1957 Large group of finance and banking related stock certificates, some are issued others are cancelled. All are in Fine-VF condition. Highlights include: Northfield Bank, Industrial Securities Co., Fultonville National Bank, First National Bank of Coal Creek, and Citicorp Person-to-Person, Inc. 22 Pieces. Sold “As is”, no returns accepted on group lots. ������������������������������������������������������������������������������������������������������������� Est. $50-90