Beautiful share of the Anciens Établissements Louis Payan, a public limited international shipping company whose head office was at 115 rue de l'Évêché in Marseille. With capital raised to 3,000,000 francs, the company, divided into 6,000 shares of 500 francs, represents Mediterranean maritime trade and logistics of the early 20th century, a key sector of the Marseille economy.

The iconography is splendid: a great bearded Neptune enthroned at the center with his trident, against a radiant sun background, neo-classical border with scrollwork and flourishes. Bearer share of five hundred francs, fully paid up, number 005375, dated 16 August 1923 [to be verified] in Marseille. Red "AELP" stamp and blue fiscal stamp. Two directors' signatures.

Apparent condition very good, clean paper, well-contrasted black printing, partial handwritten overwrites. A fine transport-and-shipping themed piece, particularly appreciated by Marseille collectors and enthusiasts of Provençal scripophily. The large-format Neptune and the Marseille origin make it a sought-after document. Generous format ideal for framing.