Archives International Auctions Auction 80 TUESDAY, OCTOBER 25, 2022: Lots 1 to 826 in 2 SESSIONS

Archives International Auctions - Sale 80 127 October 25, 2022 Archives International Auctions www.archivesinternational.com SCRIPOPHILY - BANKING, FINANCE & INSURANCE Delaware 639 639 Morgan Stanley Group Inc., 1975 Proof Stock Certificate & Proof Embossed Corporate Seal. New York, Lot of 2 pieces, Includes: Odd Shares Proof Stock Certificate, Black text with blue ornate engraved border at left, Allegorical men holding globes at top center, XF-AU condition, SC-USBN; and, a white piece of paper, 8.5 x 2.25 inches with an embossed imprint of Morgan Stanley’s corporate seal, XF condition with faint smudge over seal. Morgan Stanley Group, Inc. is an international securities firm providing a broad range of sales, trading and research services. (2) ��� Est. $200-300 640 640 Shearson Lehman Hutton Holdings Inc., 1988 $20 Million Dollar High Denomination Specimen Registered Bond Certificate Delaware, 1988. $20,000,000 Specimen Registered Serial Zero Coupon Senior Bond, Black text with blue border and undertint. Red specimen overprint. VF condition, SC- USBN. Shearson Lehman Hutton was the result of the combination of several Wall Street firms over a 25-year period beginning in the early 1960s that included Lehman Brothers, Kuhn Loeb, E.F. Hutton, Hayden Stone & Co., Shearson, Hammill & Co., Loeb, Rhoades & Co., Hornblower & Company and Cogan, Berlind, Weill & Levitt, which ultimately came together under the ownership of American Express. ������� Est. $200-400 Illinois 641 641 Board of Trade, Chicago Depositary Inc. 1982 Specimen Depositary Receipt Chicago, Illinois, 1982. Odd Shares Specimen Unleaded Regular Gasoline Depositary Receipt, Black text with purple border and underprint, Pair of allegorical women at top center. Black specimen overprints and POCs. VF condition, ABNC. �������������������������������������������������������������������������������������������������������������������� Est. $110-220 New York 642 642 Bear Stearns Companies Inc., 1987 Specimen $-Odd 8 1/8% Registered Bond Blue XF New York. Bear Stearns Companies Inc., 1987 Specimen $-Odd 8 1/8% Registered Bond Blue XF . The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. Its main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis. In the years leading up to the failure, Bear Stearns was heavily involved in securitization and issued large amounts of asset- backed securities, which were in the case of mortgages pioneered by Lewis Ranieri, “the father of mortgage securities”. As investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially to the mortgage-backed assets that were central to the subprime mortgage crisis. In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try to avert a sudden collapse of the company. The company could not be saved however and was sold to JPMorgan Chase for $10 per share, a price far below its pre-crisis 52-week high of $133.20 per share, but not as low as the $2 per share originally agreed upon by Bear Stearns and JPMorgan Chase. The collapse of the company was a prelude to the risk management meltdown of the investment banking industry in the United States and elsewhere that culminated in September 2008, and the subsequent global financial crisis of 2008–2009. In January 2010, JPMorgan ceased using the Bear Stearns name. �������������������������������������������� Est. $150-300