Aktiebrev - Wertpapiere - Bonds - Shares - Aksjebrev - Scripofili

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In the early 1720's Jonas Alström (1685-1761, ennobled in 1751 by the name of Alströmer) made a study of the beginning English industrialization. In the autumn of 1723 be sent home samples of wool, dyes and looms. In 1724 be obtained the privilege of establishing wool manufactures in Alingsås, his home town, supported by Fredrik I, then King of Sweden, as well as by several well known politicians. The activities later also included cotton printing, tobacco growing, sugar refining etc. The share certificate is the oldest known preserved Swedish certificate. It was made out on December 31st, 1728 and is based on lots of 100 silver Dalers each.

On February 20th, 1738, a newly-founded company received the privilege of conducting shipping business and trade in the Levant for a ten-year period. This privilege meant exclusive right of trade on the Levant, that is the eastern ports of the Mediterranean. The imports were raisins, figs, currants, cotton, coffée and so on, while the exports consisted of iron and steel, boards and leather products. This trading company had its principal centre in Stockholm and was intended to become to the capital what the East India Company already was to Gothenburg. Tlie Company never attained any notable prosperity. At the request of the directorate of the company the charter was nevertheless renewed for another ten years on January 15th, 1748. A member of this directorate was Claes Grill (1705-1767), merchant and foundry proprietor, belonging to one of the föremost business fåmilies of the 18th century. Each share in this issue corresponds to an investment of 1500 copper Dalers. Since the business was run at a loss, the company finally ceased sending ships to the Levantine ports. Its privilege, however, was an impediment to other companies doing trade in the Levant so in 1756 the Estates of the kingdom redeemed the octroi for the remaining two years against a remuneration of 85,251 copper Dalers, corresponding to the sum that the company bad allegedly lost by this enterprise. Trading in the Levant was then set free. During its active years (1738-1756) the company sent a total of 14 shipping expeditions to Stnyma (Izmir) in Turkey.

On August 7th, 1761, after an application by Olof N. Malmstein, mayor in Säter, the company was given the privilege of conducting a cotton-printing mill. Tlie printed cotton, made of thin cotton cloth, came into use as a substitute for more expensive silk material and was used for clothing färniture as well as walls (cL no. 1). The company was divided into four 'main lots' which could be subdivided into ten minor or 'simple lots'. Each main lot constituted a 'directeur', thus making a total of four directors who were to meet as often as possible and not less than once a week to deal with company matters. The company was förrned and run by Olof N. Malmstein (mentioned above), Petter Dufva, district judge, Olof Roman, alderman and Johan Dufva, cashier. They all signed the certificate, made out in Säter on November 15th, 1763.

The greatest Swedish trading enterprise of the 18th century was Ostindiska kompaniet, created in 1731. The saga of this company began when commissioner Henrik König (1686-1736) applied at the Swedish Board of Commerce for a charter for an East India company. On January 14th, 1731, after lengthy negociations, the first octroi, valid for fifteen years, was issued. Partaking at the formation of the company were such persons as Colin Campbell (1686-1757), who had taken the first initiative, and Niclas Sahlgren (1701-1776). The company proved very successful and another four octrois (1746, 1766, 1786 and 1806) were issued. The East India trade yielded very handsome profits to those engaged therein. The company had an obligation to re-export as much as possible of the imported goods. It was also bound to export Swedish goods, mostly iron. The first ship sailed from Gothenburg in 1732 and the last one reached Sweden in March, 1806. The expeditions sent out under the auspices of The East India Company reached the number of 132. The shares still remaining today pertain to the disastrous fourth charter, which due to losses at sea and an English naval blockade ended in bankruptcy, thus making these shares worthless.

As early as 1745 the trading house Abr. och Jacob Arfwedson & C:o was given the privilege of creating a West India company, but due to a sharp protest from the part of the Spanish envoy in Stockholm against this undertaking, the firm renounced its privilege. After the Swedish acquisition in 1784 of S:t Barthélemy in the West Indies, town secretary Johan Liljencrants (1730-1815) put a proposition to the Chamber of Commerce concerning the establishment of a share-based company to conduct trade in the West Indies. On October Mst, 1786, the company received a 15-year privilege to conduct commerce and shipping with the Swedish island of S:t Barthélemy and with other islands of the West Indies as well as with North America. Officially, however, the start is counted as from January Ist, 1787. Liljencrants and the Stockholm wholesale dealers Arfwedson, Schinkel and Pauli were to supervise the subscription. Tlie business did not develop as hoped for, and the first expedition was lost as a consequence of the war with Russia in 1788. Later on the business was paralysed due to prohibitions on importation of certain goods, especially coffée. High costs caused by naval captures brought a bad commercial result and the company was dissolved in 1805.

To procure more capital for the running and maintenance of the canal, the directorate of the company, in a communication dated August 6 th, 1799, applied for permission to issue new company shares. This issuc was carried through in the year 1800, the new shares corresponding to a value of 160 Riksdaler Specie each. The certificates were made out in Stockholm on March 3 rd, 1800. The vignette of the certificates is one of the most beutiful lithographies found on historical certificates. At the time of the förming of the company (1784), Gustavus 111 (king 1771-1792) ruled Sweden and his monogram can be seen in the shield above the sea-god depicted in the vignett (cf. 11, 71, 79)

The General-Discont-Contoir, administrated by Riksgäldskontoret, from 1792 onward was to work side by side with a separate institution, 'Discont Werket med Riksens Ständers Contoirs Credit-Sedlar'. In the year 1800, both discount offices were taken over by the Riksbank and given the name of Riks-Discont-Werket, taking the shape of a lirnited company, the capital of which was made up by the bank and to a minor extent by private shareholders. The certificates are signed by representatives of the four Estates nobility, clergy, burghers and peasants.

On August 26th, 1800, it was announced to the public that special private discount offices were to be established in distant and populous cities. Applications, sent in from Gothenburg, Malmö and Åbo, were granted during the years 1802-1805. The banks issued promissory notes at a rate of interest and cheques in the balance of these discount offices with the Riksbank. To start with, this balance consisted of a credit of the same value, paid by the shareholders. Tbc severe economic crisis in 1812 threatened to ruin these discount offices, but the Crown intervened and the business could go on for another few years. The Götheborgs Discont was liquidated in 1817 without a loss.

The economic crisis of 1812 brought on the downfall of the Malmö Discont. In 1817, great losses arose through the bankruptcies of some clients. Furthermore, the directorate of die bank was caught having made false entries and deccitful reports. A general run by the depositors to the bank was feared. To calm the public, a proclamation was issued on September 27th, 1817, asserting that business would carry on as beföre. But these hopes were crushed, because after that proclamation had been issued, the bank was exposed to a run by depositors wanting their deposited funds. The bank was förced. to close and the National Debt Office took over the obligations of the Malmö Discont, which, however, was not liquidated until 1848, at a great loss.

Göta Canal-Bolag was constituted on the llth of April in 1810 and construction started in the same year. von Platen enrolled the canalbuilder Daniel af Thunberg and the British canal specialist Thomas Telförd (1757-1834), who reputedly in just 20 days staked out the canal and also suggested the placement of the canal-locks. During eight days shares in the company were subscribed for 4 722 900 riksdaler B:co. Many prominent persons were to be found among the buyers. The share certificate, from 1810 is a copper-plate engraving with a vignette by C. G. Lundgren depicting Mother Svea and a canal-lock with waiting ships. (see also n:o 52)

The canal was rebuilt in the 1690s and the 1770s and the need for modernization and a partly new stretch was being discussed in the beginning of the 1% century. In 1818 the company was established which modernized the canal from 1818 to 1830 and gave it its present stretch. (See also no. 93).

The bridge across the river Dalälven at Älvkarlebyfallen derives its name from King Karl X1II (1809-1818). The construction of the bridge was begun in 1815 and was designed by Mr. Ris Erik Larsson, a builder from Leksand. "Lieutenant Mecanicus" 0. Forsgren was appointed supervisor of the project. Mr Carl Tottie manufacturer, and Mr Per Ennes, a wholesale dealer, both worked for the joint-stock company which was started to find the money for the bridge-construction. In 1816 the bridge was already completed and it was first used on June 23 that same year. Today, almost 175 years later, the bridge still remains as a monument of the architecture of those days.

Soldiers and prisoners of war started to construct this canal in 1806 under the direction of Eric Nordewall (1753-1835), a legendary builder of canals (cf no. 26). The location of the canal lock provoked lively discussion; but, after consulting Baltzar von Platen (1766-1829) and others it was decided to place the lock at the mouth of Lake Mälaren. The canal was inaugurated in 1819. That same year there was a new issuc of shares. Eric Nordewall was a member of the board of directors and a signatory to the share certificate which shows an exquisite copperplate vignette of the drawbridge by the lock. The company was bought by the state in 1912.

This riding-school was built in 1824 from material taken from the demolished förtification Gustavus Magnus at östra Larmgatan in Göteborg. Since horse-riding was an essential part of the cducation of the well situated youth in those days, the school was used both day and night. Various circus companies also perförmed there. The joint-stock company was established in 1824. The total amount of shares was only 72. The school remained in use for fifty years. In 1874 the building was pulled down to make room for streets and buildings in accordance with the new town plan.

Gustaf Sebastian Tham (1797-1876), mining engincer at Stora Kopparberg, established Johannesborgs Company in 1825 to run the two mines at Lerbäck and Johannesborg in the parish of Lerbäck, in the province of Örebro. His detailed mine inspection showed that the most workable cobalt was to be found in the mine of Nya Galt which at the time was 60 meters deep. The company had a permanent staff of more than 500. The ore-field reached its prime in 1825 and 1826. By 1827 business bad slackened considerably due to the deteriorating cobalt market. What is more, the cost of extracting cobalt from deeper veins had increased significantly. In 1843, the company and the Fredriksberg Company merged to form the Johannisborgs Cobolt-Verks Aktiebolag (cf. no. 73).

The spa, situated between Lake Vänern and Lake Mälaren, was well known and used back in the Middle Ages. In 1721, Dr. Richter, a physician from the province of Västergötland, began using the spring which he had rediscovered with the help of old doeuments. In 1809, G. Strömstedt (1762-1835), a law enforcement officer, took over the management of the company. The spa received its royal charter in 1819 and in 1826 a company was founded. They issued 700 share certificates, each worth 50 riksdaler banko. The board of directors consisted of Jacob de la Gardie (1768-1853), Ehrenfried von Weigel (1776-1848), Gustaf F. Åkerhielm (1776-1853), Johan J Hedrén (17751861) and Jöns Jacob Berzelius (1779-1848). During the 1% century Porla was one of Sweden's most frequented spas. Today it is best known for its bottled mineral water.

The company was one of many for public services in those days. Its main purpose was to build and maintain Flottsund Bridge near Uppsala. The articles of association were signed on 12 December 1829 but the share certificate is probably of a somewhat later date. LM. Schram, who was one of the signatories to the certificate, was born in 1813 and was made a burgher in Uppsala in 1844. R. von Kraemer was chairman of the board of directors and county governor in the county of Uppsala from 1830 till 1862. After the removal of the numerous milestones with the monogram of the dethroned Gustavus IV Adolphus, von Kraemer put up new milestones with his own monogram RvK on thern. These initials were popularly interpreted as "Res varsamt, kanalje", which roughly translates as "Travel carefully, you rascal".

In 1830, a boarding school for boys was established in Stockholm. Rowland Hill (17951879), the English educationalist, provided the model. He had also reförmed the Post Office in Great Britain. Tbc school was run as a joint-stock company by a management of twelve persons. The school was intended for young boys up to university entrance. The school was largely independent and discipline was left to the boys themselves. The school building was located at Barnängen in the parish of Katarina in Stockholm and was active, from 1830 until 1846. In 1846, the property was hought by Mr. Lars Johan Hierta (1801-1872), a publicist and a member of parliament. Hierta used the house to produce silk for some twenty years.

Olof Åbom, a wholesaler, invested all his assets on the construction of a swimming school at Riddarholmen in Stockholm. The building was completed and inaugurated at Whitsun in 1827. Olof Åbom died in 1829 and his relatives and friends formed a jointstock company in memory of the founder of the swimming school. There were 100 share certificates in all signed by surviving relatives. The swimming school was situated in front of the "Assistans contorets" house No. 7 in the Riddarholm area. The site was leased for 25 years by Stockholms "Drätselcommission" (municipal finance department).

A grand opening ceremony attended by King Karl XIV Johan marked the joining of the castern and western parts of the Göta canal in 1832. The föllowing year a new share issuc for the company was made and the shares from 18 10 were exchanged for new ones with a modern lithographic print on them. The paper used was of poor quality and had to be changed again in 1888. The present owner of the Göta Canal is Swedish Forest Service (Domänverket). Travellers from all the corners of the world generally agreee that the canal is one of the most beautiful waterways anywhere. (Cf No. 28.)

In 1832, it was proposed that the Strömsholms Kanalbolag build a bridge across Borgå Strait which connects Lake Freden with Galten, a little bay in Lake Mälaren at the mouth of Strömsholms canal. As die 1,500 riksdaler banco granted by the state was considered insufficient, subscriptions for shares in Borgå Sunds Brolag were invited in 1833. The bridge was replaced by a new one by 1860.

In April 1832, Mr. Johan Didrik af Wingård (1778-1854), county governor of Värmland, proposed that a "provincial-Bank" be established within the county. By 17 November that same year, the Swedish govemment granted permission to set up such a bank. The Wermländska Provincial-Banken was to be administered by a board of directors in Karlstad. On 8 January 1833 the first general mecting was held. From the very beginning, business at the bank was based on the issue of its own banknotes in spite of the fact that the concession did not include such a right. The bank changed its name on several occasions: in 1857 to Wermlands Enskilda Bank and in 1934 to Wermlands Enskilda Bank AB. Nowadays the bank is part of Götabanken.

In 1837 a shipping company was established for steamship services between Arboga and Stockholm. This company replaced Gamla Rederi Bolaget whose assets were transferred into the new one. In 1837 Claes Rudolph Carlsund (1807-1866) ordered the steamship 'Vikingen" from Kolboda shipyard in the province of Småland. The machinery of this vessel was made by Samuel Owen (1774-1854) in Stockholm. 'Vikingen" was in traffic for eleven years and in 1848 she was sold to the town of Torshälla where she served until 1857. There is a contract dated 1849 in which Motala Mekaniska Werkstads bolag undertakes to build a steamship of iron. This vessel was named "The Arboga". At the shareholders' meeting on May 30, 1874 Arboga Ångfärtygs- och Rederi-Bolag was dissolved.

Klinkenbergs Grufve-Bolag was a Swedish company that mined copper in Norway, too. The joint-stock company was registered at Falun on July 25, 1839 for mining and the construction of works in the parish of Särna in Sweden and in a 100-kilometer area aound the lakes Femunden, Feragen and Aursunden in Norway. Copper ore was the main product from the start. The area is not far from Rörås, which was earlier connected by road with Falu copper mine. Four chrome mines were later registered around the Norwegian lakes and that is why it is reasonable to believe that chrome-mining later became the company's main operation.

A picture of the first Swedish propeller-powered passenger ship adorns the share certificate of Linköpings Ångfärtygs-Bolag (Stearnship Company) from 1845. The vessel was built of timber on an iron frarnework at the Motala Verkstad yard in Norrköping and was ready in 1846. The captain for the first years was A.O. Wallenberg, the founder of the Stockholms Enskilda Bank and its director for many years. The share certificate was accompanied by a 10-year dividend coupon sheet which was most unusual for that time. It was more common that dividends were transcribed on the share certificate. The attractive certificate is a lithograph of Johan Cardon the Younger.

There are no records of this company for stearn boat traffic between Stockholm and Västerås. The vessels however are well documented. The steamer "Gustaf Wasa" was built in Kalmar from drawings by A.G. Carlsund and was equipped with machinery from Motala Verkstad. 'WestmanlanC was a LG. von Sydow design built in Luleå in 1838. The machinery came from Owens Verkstad in Stockholm. "Yngwe Freif' was built in 1821. These three vessels were run by other companies until 1847. The share certificate shows friends waving from the quayside at Riddarholm, and the "Gustaf Was&' on route for Västerås. On the right are Eldkvarn, the Seraphim Hospital and Kungsholms church.

The certificate from 1847 is part of the second charter. Smålands Privatbank was founded on July 1, 1837 in Jönköping. It did not open until September of that year owing to a delay in delivering the notes. The paper was ordered from Tumba Pappersbruk (papennill) and the banknotes were printed by Broling in Stockholm. Smålands Privatbank took over Oskarshamns Enskilda Bank in 1889 and Varbergs Bank and Mellersta Hallands Bank in 1916. In 1934 it changed its name to AB Smålands Bank which today is part of Götabanken.

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