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The 100 year period from 1850 to 1950 was marked by a series of turbulent events in China's history. During that time the Chinese Government sought to raise funds for various projects by initiating a series of loans where the aim was to encourage foreign investment.In the main the loan arrangements were by the issuance of fixed interest bearer bonds. These bonds not only had face value but many of them were aesthetically pleasing as they were designed and printed to a high standard of excellence.
Many bonds were redeemed but a large number of the loans were defaulted by the Chinese Government, leaving investors with "worthless" bits of paper script. But now the "worthless" script has become collector's items and the bonds are fetching high prices in sales worldwide.Whether you are a collector, interested in obtaining documents of historical value, or would like to have some appealing and unusual artwork to adorn your office walls, this bond could be yours.
Coupons attached: #'s26-80Four white pieces on tape on back where it was framedSlight stains at the topFour ink stamps
CHB - 5½% Petchili Issued:25,000
Serial From:00001 - 25,000
Arrangers:Banque de ReportsDimensions of the Bond:290 x 520 mmThe total loan amount was £500,000 and was arranged by Banque de Reports, de Fonds Publics & de Depots. The bonds were quoted in both Brussels and Antwerp.The purpose of the loan was for public works and improvements in the Province of Chihli previously know as “Petchili”. The loan was secured by a first mortgage on the provincial wine and tobacco taxes, and was also guaranteed by the Government of the Republic of China. Coupons were payable on 1st February and 1st August each year. This loan has been in default since February 1926.