Liberator Permanent Building & Investment Society, £30 shares, 1880’s, signed by Jabez Spencer Balfour

Description

Liberator Permanent Building & Investment Society, £30 shares, 1880’s, signed by Jabez Spencer Balfour, black, VF.
Balfour controlled several companies including a bank, building company and several land companies. The finances of the group were hopelessly intertwined and money was moved between the companies to make the balance sheets look better than they were. Eventually the group collapsed and Balfour was charged with fraud and conspiracy; he fled to Argentina where he was later captured and brought home for trial where he was sentenced to 14 years imprisonment. This case nearly brought the end of the building society movement and led to new lasw regarding their operation.

The image is from our archive and may not be the actual item sent however the condition will be the same, or better.