Photomaton Parent Corporation Ltd, 100 5/- shares 1928, Clarence Hatry fraudster

Description

Photomaton Parent Corporation Ltd., 100 5/- shares, 19[28], ornate border, text in English and French, mauve, with coupons, good very fine.   Founded in 1928 by Clarence Hatry, the renowned fraudster. The company operated photographic machines in hundreds of public places such as parks, stations etc.   By 1929 Hatry was apparently a successful businessman however by that time he had been bankrupted 3 times, still managing to maintain considerable wealth. It was his biggest project, a merger of iron and steel companied to form the United Steel Companies, that brought him down. He was found to have borrowed £1 million on forged shares and the fraud became public knowledge. Hatry’s stock began to fall on the Stock Exchange, his £24 million stock was worthless. Having admitted to the fraud and forgery Hatry was convicted on the 20th September 1929 and later imprisoned in Brixton Prison for 9 years.     This image is from our archive; you may receive a different serial number but the condition will be the same.