Archives International Auctions Auction 94 May 30, 2024

Archives International Auctions - Sale 94 80 May 30, 2024 Archives International Auctions www.archivesinternational.com Scripophily - Banking, Finance & Insurance Canada 400 400 I.O.S., Ltd., 1970, Issued Warrant - Financial Scam Company Canada, 1970. 10 Shares I/U Bearer Share Warrant, Black print with green border, Bare breasted woman at top above company title, S/N XW43833, Coupons attached, Facsimile signature of Bernie Cornfield, president of the company, VF to XF condition, CBNC. Investors Overseas Services, Ltd. (IOS) was founded in 1955 by financier Bernard Cornfeld. 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. 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. 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. $10-35 New York, New Jersey, and Maryland 401 401 Finance and Insurance Assortment of Stocks and Bonds, ca.1887- 1928 New York...., New Jersey, and Maryland, 1887-1928. Lot of 11 Stocks and Bonds, Includes: Home Insurance Co., 1889, I/C Cert; William E. Peck & Co. of N. Y. Inc., Unissued Stock Cert; Harmonia Fire Insurance Co. Inc., 1914, I/C Certs (3); International Mortgage & Investment Corp., 1928, I/C Bonds (3); Twenty-One Sixty Six Broadway Corp & Corp. of the Manhattan Congregational Church, 1928, I/U Bond; New Jersey Prerogative Court, 1887, Last Will and Testament of Jacob R. Schuyler; United Utilities Co., 1914, I/C Cert of Stock Transfer. Certificates range from Fine to VF+ condition. (11). Sold “AS IS” no returns accepted. ��������������������������������������������� Est. $10-45 Various Locations 402 402 Banking and Financial Assortment of Stock and BondCertificates, Lot of over 80 Items Lot of 80 Issued Stocks and Bonds, Highlights Include: International Mortgage and Investment Corp., Irving Trust Co., Gillespie & Co. of New York, Inc., Peoples Life Insurance Co., Pine Brush National Bank, Germania Fire Insurance Co., Wells Fargo Mortgage Investors, United Profit Sharing Corp. and many more. Certificates range from Fine to XF condition. (80). Sold “AS IS” no returns accepted. ���������������������������������������������������������������������������������������������������������������������� Est. $20-60 Scripophily - Casinos, Gambling & Entertainment France 403 403 Euro Disneyland S.C.A., 1989, Issued Stock Certificate Pair Paris, France, 1989. 1 Share I/U Certificate, Pair of Certificates, Black print with blue border and m/c geometric design underprint, Image of Mickey Mouse at center with Globe showing Europe at center, S/Ns 000228786 & 000228787, XF to AU condition. (2). Sold “AS IS” no returns accepted. ���������������������������������������������������������������������������������������� Est. $15-40