HUGO VAN DER MOLEN'S
Scripophily site
a collection of historic bonds and shares
Oriental Bank Corporation
(update: March 20th 2009)

Dr. Hugo H. van der Molen - Wederikweg 114 - 9753 AE Haren, The Netherlands
Tel: +31 (0)50 534 8795;; email: hugo@hugovandermolen.nl


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Oriental Bank Corporation

Oriental Bank

English:
The company was established in 1842 in Bombay (India) under the name of  Bank of Western India. After the head quarter was moved to London in  1845 the name was changed into "Oriental Bank Corporation". In the Royal Charter (1851) it was vaguely mentioned that the company  was allowed to operate everywhere east of Cape of Good Hope (South Africa) and therefore also in India. In fact, it was chartered mainly to allow competition with the East India Company monopoly which was unpopular in England at the time.  Of course, the East India Company  tried to oppose to this charter as they cherished the monopoly on the trade and banking  India sofar.
Expansion followed with branches opening in Chinese Treaty ports, Hong Kong, Japan, India, Mauritius and South Africa. The Bank held a dominant position in Eastern Banking for some years.
In the 1860-ies the company had become a flourishing undertaking both in India and China. and it survived the financial crisis of 1865/6.
At the end of the 1870-ies it suffered much from the legendary coffee disease in Ceylon, which devastated the coffee plantations in that area, in which the company had invested so much. (this disaster in the coffee culture led to the beginning of the later so famous tea culture in Ceylon !).
Finally, in 1884 the bank ran into severe difficulties and had to be reconstituted as the New Oriental Bank Corporation. With the growth of other banks such as the Hong Kong and Shanghai and the Chartered Bank the new organisation was never succesful and it finally closed its doors in 1892.

Sources:

Narbeth, C., Hendy, R., and Stocker, C. (1979), Historische bankbiljetten en aandelen, Baarn, Moussault's Uitgeverij, ISBN 90 2261 170 1
Nicely illustrated (in colour) book of 117 pages.
Translation of "Collecting paper money and bonds", publ. by Studio Vista (Cassell Ltd.), London, 1979.

Veissid catalogue, summer 1999.

The following items are available here: email to order


Oriental Bank Corporation,
incorporated by Royal charter in 1851; Vignette: crowned lion, unicorn, crowned armour and text "Honi soit qui mal y pense" (motto of the order of the Knights of the Garter) and "Dieu et mon droit" (motto of the British Monarch).
---------- share certificate no. 11202 à £ 25, 1851 (therefore 1st emission), with embossed seal, original signatures, in the name of Archibald Spens of the Bombay Civil Service Esquire, on the backside 7 times endorsed to someone else, size: 20 by 24,5 cm., condition: VF, see picture,  price 195 Euro.
---------- share certificate no. 53607, à £ 25, 1865, embossed seal, in the name of Mary Henderson, original signature of chief manager  Charles Stewart, condition VF +,  size 18 by 21 cm., see picture,  price 99 Euro.


Nederlands: De maatschappij werd in 1842 opgericht te Bombay onder de naam "Bank of Western India". Nadat in 1845 het hoofdkwartier naar Londen was verplaatst werd de naam veranderd in "Oriental Bank Corporation". In de Koninklijke goedkeuring staat vagelijk vermeld dat de Oriental Bank Corporation "overal ten oosten van kaap de Goede Hoop (dus ook in India) mocht opereren. Ondanks de oppositie van de East India Company die India als prive wingewest beschouwde en die een monopoliepositie bekleedde in het verre oosten, werd de vergunning in 1851 verstrekt. Tegen de 60-er jaren was de Oriental Bank een bloeiend en gezaghebbend bedrijf in India en China geworden. De neergang tijdens het eind van de 70-er jaren hield verband met de gevreesde "koffieplantziekte", die een ware ravage had aangericht op de plantages van Ceylon, waarin de bank veel had geïnvesteerd. In 1884 werd het faillissement van de bank aangekondigd. Na een reorganisatie als gevolg waarvan de bank de naam New Oriental Banking Corporation kreeg, bleef zij bestaan tot 1892 om vervolgens definitief te worden geliquideeerd. Tekst is geciteerd uit Narbeth e.a.,1979, historische bankbiljetten en aandelen, Baarn; Moussault's Uitgeverij, ISBN 90 2261 170 1, een fraai (in kleur) geïllustreerd boek van 117 pagina's.



See page on explanations, sales conditions, costs of shipping and on how to order and to pay.

You are here: home - scripophily - UK - Oriental Bank

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