Overend Gurney & Co Ltd £50 1865 Share Cert
Overend Gurney was a London wholesale discount bank, known as The Banker’s Bank operating in the 19th century. Well respected, for a long time it was considered the greatest discounting house in the world. In 1865 it issued shares that sold at a premium. This success was shortlived because there was a rapid collapse in the prices of stocks and shares. Overend Gurney appealed to the Bank of England for help but was refused. The bank suspended payments and a run on the bank followed. When Northern Rock collapsed in more recent times, commentators compared the queues outside the bank branches to the queues outside Overend Gurney Offices in 1866. The bank went into liquidation and more than 200 companies also failed as a result. These £50 shares are dated 1865 and measure 8.25 Inches x 5.5 inches with an impressed seal and signed by the Secretary. £24.50 each.