The Pathé company was founded by Charles and Emile Pathé in 1896. Émile takes charge of the company's phonographic operations and Charles Pathé devotes himself to cinema.

Cinéma National was Pathé's concessionaire for the South-West. It was linked to a financial group represented by Edmond Benoît-Lévy, himself president of the company.

Issue : 3,000 shares only.

Beautiful design with a mask and pictures of cities of South of France: Pau, Bordeaux, Toulouse and Montpellier.