The Saguenay Pulp and Power Company was one of the major Quebec industrial companies of the early 20th century, exploiting the formidable forestry and hydraulic resources of the Saguenay–Lac-Saint-Jean region. This certificate for 100 common shares, issued in Montreal in September 1921, represents an investment in a booming industry: the manufacture of wood pulp fed the explosive growth of the North American print press. The Saguenay region, with its powerful rivers, offered the hydroelectric power essential to pulp mills. This certificate is part of a series of Saguenay Pulp certificates illustrating the diversity of securities issued by this company. An important piece for collectors of Quebec and Canadian industrial scripophily.