what were guilder shares 
a guilder share was an ownership stake in a dutch company that could be traded in the united states because it represented shares that had been canceled in dutch stock markets guilder shares also called new york shares represented a special international trading arrangement for shares of companies based in the netherlands only since the stocks of dutch companies could not be traded through american depository receipts adrs at the time today adrs can in fact be listed on dutch companies and so guilder shares are no longer used understanding guilder shares