Chinese

Super Petchili Bond with Pass-Co Authentication – Chinese Republic 20 Pound Lung-Tsing-U-Hai Railway

Country: China
Years: 1913

Color: Blue

Government of the Chinese Republic, 5% GOLD LOAN OF 1913 LUNG-TSING-U-HAI RAILWAY of £10,000,000 Sterling BOND FOR £20 denomination with Pass-Co Authentication.

New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt

LUNG TSING U HAI RAILWAY BOND. Titles and Text: Repeated in French and English. Printer: J. Verschueren, Anvers, Belgium. Size: Large Format, 11×20″ plus 10×20″ Coupon at right. Also called the Belgian Lanshow Railway Loan. Authorized £10,000,000. But only £4,000,000 were issued in 1913 and offered by the Banque Belge at Fr 461.40 for each Fr 500 or £20 Bond in Brussels and Paris on behalf of the Co. Gen. Chemins de Fer et de Tramways en Chine. For the construction and equipment of a main line (1125 miles) between Lanchow (on the West) and Haichow on the sea (north of the Yantze), utilizing the Pienlo Railway. Number of coupons will vary from 42 or so. Known as the “Super Petchili”.

Condition: Extremely Fine

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.


Chinese £100 Reorganization Gold Loan Blue Bond of 1913 with PASS-CO authentication

Country: China
Years: 1913
Color: Blue
China, 1913, Blue-Red. £100 5% Reorganization Gold Loan Bond, German Bank Issued. Uncancelled. 42-43 Coupons. Many coupons.

New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt

1913 – 5% Reorganisation Gold Loan The Reorganisation Gold Loan of 1913 was for the capital sum of £25,000,000. The Loan was, “…authorized by Presidential Order of 22nd April 1913 officially communicated by the Wai Chiao Pu to the Ministers in Peking of Great Britain, Germany, France, Russia and Japan.” The newly appointed President of the Republic of China, Yuan Shih Kai, initially approached Britain, France, Germany and United States of America seeking a substantial loan to assist the fledgling government of the Republic of China. Later this group was expanded to include Japan and Russia, but eventually the United States of America withdrew from participation, leaving five countries which agreed to assist the Chinese Government with financial aid. The principal financial institutions which participated in the loan arrangements were the Hongkong & Shanghai Banking Corporation, Deutsch-Asiatiche Bank, Banque de I’Indo-Chine and Russian Asiatic Bank. The Yokohama Specie Bank participated on behalf of Japan, but did not issue separate bonds, countersigned by the bank. Arrangements were made as to convertibility into Japanese Yen of the bearer bonds issued by the other four issuing banks. The banks all received 6% commission allocated to each bank together with bonds issued are detailed in the data tables below: Hongkong & Shanghai Banking Corporation £7,416,680 Deutsch-Asiatiche Bank £6,000,000 Banque de I’Indo-Chine £7,416,660 Russian Asiatic Bank £2,777,780 Russian Asiatic Bank (Belgium) £1,388,880 It should be noted that the original Russian issue bonds which were brown coloured, were subsequently withdrawn and exchanged for a series of green coloured bonds. The original brown coloured bonds, sometimes referred to as “Yellow Bonds” were annulled. In consequence there may still be bonds in existence of two different colours from the Russian issue carrying identical serial numbers. The purpose of the loan was to enable the new government of the Republic of China to meet financial liabilities inherited from the previous organization of government institutions and to meet the administrative costs. The loan was secured upon the entire revenues of the Salt Administration of China. In some ways this was a rather dubious security for such a large-scale loan as the entire Salt Gabelle (Salt Tax) had already been committed for other purposes with any surplus being pledged as a security against the Crisp Loan of 1912. However there was a further provision that foreigners would assist in the reorganisation of the collection of Salt Tax revenues and if the loan was at any time in default, the Salt Tax revenues were to be administered by the Maritime Customs Administration which was primarily under the control of foreigners. Coupons were payable on 1st January and 1st July each year. The loan has been in default since 1939. As an interesting footnote to this loan, Mr. M.E. Weatherall, who was a senior official of the Chinese Maritime customs Service in 1921 was quoted in the publication “Wayfoong” as making the following observation; “I believe that I am correct in saying that the greater part, if not all, of the reorganisation loan of 1913 was accounted for by statements and vouchers, but that in actual fact very little of it was ever applied to the purposes for which it was lent. It disappeared mysteriously and nobody knows where it has gone.”

Condition: Extremely Fine


A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.


Chinese £20 Reorganization Gold Loan Brown Bond of 1913 with PASS-CO authentication

Country: China
Years: 1913
Color: Brown
Brown £20 5% 1913 Bond. 42-43 Coupons.

New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt

1913 – 5% Reorganisation Gold Loan The Reorganisation Gold Loan of 1913 was for the capital sum of £25,000,000. The Loan was, “…authorized by Presidential Order of 22nd April 1913 officially communicated by the Wai Chiao Pu to the Ministers in Peking of Great Britain, Germany, France, Russia and Japan.” The newly appointed President of the Republic of China, Yuan Shih Kai, initially approached Britain, France, Germany and United States of America seeking a substantial loan to assist the fledgling government of the Republic of China. Later this group was expanded to include Japan and Russia, but eventually the United States of America withdrew from participation, leaving five countries which agreed to assist the Chinese Government with financial aid. The principal financial institutions which participated in the loan arrangements were the Hongkong & Shanghai Banking Corporation, Deutsch-Asiatiche Bank, Banque de I’Indo-Chine and Russian Asiatic Bank. The Yokohama Specie Bank participated on behalf of Japan, but did not issue separate bonds, countersigned by the bank. Arrangements were made as to convertibility into Japanese Yen of the bearer bonds issued by the other four issuing banks. The banks all received 6% commission allocated to each bank together with bonds issued are detailed in the data tables below: Hongkong & Shanghai Banking Corporation £7,416,680 Deutsch-Asiatiche Bank £6,000,000 Banque de I’Indo-Chine £7,416,660 Russian Asiatic Bank £2,777,780 Russian Asiatic Bank (Belgium) £1,388,880 It should be noted that the original Russian issue bonds which were brown coloured, were subsequently withdrawn and exchanged for a series of green coloured bonds. The original brown coloured bonds, sometimes referred to as “Yellow Bonds” were annulled. In consequence there may still be bonds in existence of two different colours from the Russian issue carrying identical serial numbers. The purpose of the loan was to enable the new government of the Republic of China to meet financial liabilities inherited from the previous organization of government institutions and to meet the administrative costs. The loan was secured upon the entire revenues of the Salt Administration of China. In some ways this was a rather dubious security for such a large-scale loan as the entire Salt Gabelle (Salt Tax) had already been committed for other purposes with any surplus being pledged as a security against the Crisp Loan of 1912. However there was a further provision that foreigners would assist in the reorganisation of the collection of Salt Tax revenues and if the loan was at any time in default, the Salt Tax revenues were to be administered by the Maritime Customs Administration which was primarily under the control of foreigners. Coupons were payable on 1st January and 1st July each year. The loan has been in default since 1939. As an interesting footnote to this loan, Mr. M.E. Weatherall, who was a senior official of the Chinese Maritime customs Service in 1921 was quoted in the publication “Wayfoong” as making the following observation; “I believe that I am correct in saying that the greater part, if not all, of the reorganisation loan of 1913 was accounted for by statements and vouchers, but that in actual fact very little of it was ever applied to the purposes for which it was lent. It disappeared mysteriously and nobody knows where it has gone.”

Condition: Extremely Fine


A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.


$1,000 Republic of China Liberty Bond

Country: China
Years: 1937
$1,000 United States Dollar Bond (considered Liberty Bonds). Please click on “View Larger Image” to see the english side of the bond. New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt

Condition: Excellent

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.


$250,000 Farmers Bank of China Bond

Country: China
Years: 1933
Color: Red
$250,000 Republic of China Bond. The Farmers Bank of China. PASSCO authenticated. New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt
Condition: V.F.


£100 Imperial Chinese Government 1911 Hukuang Railway Gold Bond

£100 Imperial Chinese Government 1911 Hukuang Railway Gold Bond

Country: China
Years: 1911
£100 5% Hukuang Railways Sinking Fund Gold Loan of 1911 Bond. Uncancelled. Several coupons. It is important to stress that these bonds have been bought in recent years and pretty much taken off the collector market. As a result prices have risen rather dramatically. Several more rows of coupons not shown.

New article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt

Condition: Excellent



Just wanted to tell you about the many hundreds of orders we have had since September 2nd.

Why is that day so special? The Charlie Ward Show mention Chinese bonds in their podcast on YouTube.

It made quite an impact. CHECK IT OUT!

Here is the link: https://youtu.be/MT1pIu4XRNs?t=4046