Bearer share 100 francs Société Celluloses Madagascar 1933 old document

AFW - Antique France Worldwide

Description

Vintage financial document, a bearer share issued by the Société des Celluloses & Papeteries de Madagascar. The visible side features a blue typographic print with refined ornamental details on the borders, typical of French securities from the early 20th century. The company is clearly identified in the header, followed by the mention "Société Anonyme au Capital de Quatre Millions de Francs" (Public Limited Company with a Capital of Four Million Francs) and its registered office in Paris (85, rue de Rennes).

The center of the document reads "ACTION de 100 FRANCS au PORTEUR" (100 FRANCS BEARER SHARE), fully paid, with the individual number 9864 printed in black. Two signatures of administrators are visible at the bottom, and the issue date "Paris, le 1^er février 1933" (Paris, February 1, 1933) is written out in full, confirming its 1930s origin.

The lower part of the document presents a series of detachable coupons, numbered and framed, each bearing a red stamp with an "SMA" monogram. These coupons were intended for dividend payments, a common practice for bearer shares of that era. The mentions "Premier Coupon" (First Coupon), "Deuxième Coupon" (Second Coupon), etc., are legible on each coupon, up to "Trentième Coupon" (Thirtieth Coupon).

The paper, with a matte appearance, shows a fine and regular print. The dominant hue is blue-grey, with geometric frames and stylized floral motifs. The document is partially folded in the photo, but only the main face and the coupon grid are visible. No obvious signs of tearing or chipping appear in the photographed area.

The inscriptions are clear, with typography characteristic of the 1920s-1930s. The upper cartridge and frames reinforce the institutional and secure style of this type of historical security.

Condition

Used document, sold as is. The visible side shows good overall condition, with no apparent major defects. Some traces of handling or patina may remain, which is normal for an old paper nearly a century old.

Did you know? Bearer shares were widely used in France until the 1980s. They allowed anyone physically holding the certificate to exercise shareholder rights, without nominal registration, which facilitated transmission but led to their abolition for financial transparency reasons.

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