were floated on the Amsterdam stock exchange the following year. In an extension of the Cheribon operation, the branch also joined a syndicate to issue bonds, which were sold in May 1895 through public subscription. The issue proved highly successful, being over- subscribed ninefold.

Towards the end of 1895, the branch bought into the capital of an exploration company, Petroleum- Maatschappij Sumatra Palembang (Sumpal), which had been set up to study the potential for oil exploration at Palembang on the island of Sumatra. This surveying company, founded by Adolphe Boissevain & Co, Labouchere, Oyens & Co.63, and the Berliner Handelsgesellschaft Bank, invited the branch to become a shareholder, taking a stake worth 50,000 guilders.

In March 1897, the branch agreed to take part in another oil sector deal to convert the Dordtsche Maatschappij tot opsporen en exploiteren van petroleumbronnen op Java (the Dordtsche company for exploration and exploitation of oil wells in Java) into a new company, to be named Dordtsche Petroleum Industrie-Maatschappij. The branch invested 500,000 guilders in shares and bonds, which were sold several months later, generating a profit of 135,000 guilders. The branch was also involved in the Moeara Enim oil company and in a 1901 issue on behalf of the Moesi Ilir oil company, which was partially placed in Paris.

In 1904, Moeara Enim merged with another oil company, Koninklijke Olie, through an exchange of shares. Seven years later Dordtsche Petroleum was taken over in exactly the same way. The two companies were still listed on the Amsterdam Stock Exchange until the 1990s. Their shares remained highly popular as they were in essence closed-end investment funds in shares of Royal Dutch Shell, giving investors profitable opportunities for arbitrage with Royal Dutch equity.

In 1902, the branch provided an amount of 24,000 guilders as part of an advance of 750,000 guilders arranged by the Nederlandsche Handel-Maatschappij, the beneficiary being the Madoera Stoomtram Maatschappij. This two-year advance earned 4% interest, plus a commission of 1½%.

Tramways and railroads

The branch took part in a number of deals in the transport infrastructure sector, among them the placement of an 1888 bond issue on behalf of the Haagsche Tramweg Maatschappij (The Hague Tramway Company). The following year it participated in a bond conversion for Hollandsche IJzeren- Spoorweg- Maatschappij (Holland Iron Railway Company), for a total amount of 2,500,000 guilders.

63. Labouchere, Oyens and Company, founded by Ernest Samuel Labouchere (1856-1932), was also active in North American business. The firm was taken over by the Rotterdamsche Bank in 1913 but continued to operate under its old name.

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