several of them being worth from L30,000 to L50,000, amongst which may
be mentioned the Crockers', of San Francisco, Mr. F. W. Ayer's, of
Bangor, Maine, and Mr. Paul's, of Philadelphia.

In Germany the greatest collection is doubtless that of Mr. Martin
Schroeder, the well known merchant of Leipzig.

[Illustration:]

Stanley Gibbons, Ltd.

_CAPITAL, L75,000. ESTABLISHED 1856._

HIGHEST POSSIBLE AWARDS.

_GOLD MEDAL, Paris, 1892._

_GOLD MEDAL, Chicago, 1893._

FIVE MEDALS
(_Highest in each Class_),
GENEVA, 1896.

FOUR MEDALS
(_Highest in each Class_),
LONDON, 1897.

The above-mentioned high rewards gained by the Firm have been awarded
for the perfect condition and completeness of Stamp Collections, and
for general excellence in Stamp Albums, Catalogues, and Handbooks.

* * * * *

Rare
Stamps
Bought, Sold, or Exchanged.

* * * * *

_LARGE NEW PROSPECTUS_
(_Seventy-six Pages_),

With full details of all
STAMP ALBUMS,
CATALOGUES, HANDBOOKS,
and List of nearly
2,000 SETS and PACKETS
at Bargain Prices,

_sent post-free on application_.

* * * * *

STANLEY GIBBONS,

LIMITED,

New Announcements.

_ANNUAL SALE OVER THIRTY THOUSAND PACKETS._

NOW READY, the following Popular Series of

PACKETS OF FOREIGN POSTAGE STAMPS

_All the Stamps contained in the following Packets are warranted
absolutely genuine, free from reprints. They are also in good
condition and perfect._

These Packets cannot be sent by book post to Postal Union Countries.
The cost by letter rate is 2-1/2d. for every 100 Stamps. The amount
required for postage can therefore be reckoned, and should be added
when remitting.

* * * * *

_New and Improved Packets of Used and Unused Stamps._

No. 1.--The Sixpenny Packet of Mixed Continental Stamps contains 100,
including many obsolete and rare. (This packet contains duplicates.)
Post-free, 7d.

No. 2.--The Sixpenny Packet of Used Foreign Stamps contains 50
varieties, all different, including Egypt, Spain, Chili, New South
Wales, Transvaal, Roumania, Porto Rico, Argentine, Sweden, Brazil,
Turkey, &c. Post-free, 7d.

No. 3.--The Sixpenny Packet of Used Colonial Stamps contains 12
varieties, including Natal, Ceylon, India H.M.S., Cape of Good Hope,
British Guiana, Mauritius, Tasmania, New South Wales Service,
Victoria, Jamaica, South Au