Dutch history student finds world's oldest share

Fri Sep 10, 2010 10:02am EDT
 
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AMSTERDAM (Reuters Life!) - A Dutch history student has unearthed the world's oldest share, dating back to 1606 and issued by the sea trading firm Dutch East India Company.

Locked away in forgotten city archives, the share was made out to Pieter Harmensz, a male resident of the Dutch city Enkhuizen who served as an assistant to the city's mayors.

After his death in 1638, Harmensz left the share to his widow and their daughter Ada and the document eventually ended up in Enkhuizen archives, kept in the northwestern city Hoorn.

As the Netherlands' largest trading company in the 17th and 18 centuries, the Dutch East India Company (VOC) was also the world's first company to issue stock.

The 'Enkhuizen share' dates back to September 9, 1606, when Harmensz paid the last installment of his 150 Dutch guilders.

Dutch research has shown the VOC faced early financial difficulties and shareholders were not initially paid dividends.

The company finally started paying dividends in 1610, partly in money and spices, following strong shareholder pressure.

An interesting feature on the Enkhuizen share therefore is a series of notes on the inside relating to dividends up to 1650.

The share is to be displayed at the Westfries Museum.

(Reporting by Aaron Gray-Block, editing by Paul Casciato)

 
<p>The world's oldest share, issued by sea trading firm Dutch East India Company, is seen at the West Fries Museum in Hoorn in this September 10, 2010 handout photo. A Dutch history student has unearthed the share, which was originally made out to Pieter Harmensz, a male resident of the Dutch city Enkhuizen who served as an assistant to the city's mayors. The 'Enkhuizen share' dates back to Sept. 9, 1606, when Harmensz paid the last instalment of his 150 Dutch guilders. REUTERS/West Fries Museum/Handout</p>