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1923 LTUH Fl1000

1923 LTUH Fl1000 Image

CHB Ref: 1923/8LTUH/Fl1000/NMvH
Kuhlmann: 660

Capital: Fl.37,743,000

Denomination: Fl.1000
No. Issued: 14,084
Serial Nos.: 00001-14,084

Dimensions of the Bond:
315 x 230 mm

The Lung-Tsing-U-Hai (2nd Dutch Exchequer) Loan of 1923 was for the capital sum of Fl. 37,743,000. The loan was created by virtue of an agreement dated the 1st May 1920 between the Government of the Chinese Republic and the Compagnie Generale de Chemins de Fer et de Tramways en Chine and the Netherlands Syndicate for China. This agreement was notified by the Ministry of Foreign Affairs in China to the Belgium, French and Dutch Legations in Peking.

The participating financial institutions were the Nederlandsche Maatschappij voor Havenwerken, Compagnie Generale Chemins de Fer et de Tramways en Chine on behalf of the Netherlands Syndicate for China.

The purpose of the loan was for the completion of the western section of the Lung-Tsing-U-Hai Railway from Kwanyingtang to the Yellow River and also the eastern section from Hsuchow to the sea; for the development and construction of a harbour in close proximity to Haichow and for meeting the financial commitments to service previous loans issued in 1913 for the Lung-Tsing-U-Hai Railway.

The loan was secured by a first charge on the Lung-Tsing-U-Hai Railway. Coupons were payable on 1st January and 1st July each year. The loan went into default in 1926, but further to an agreement made in August 1936, the loan was reactivated. The terms of the loan were altered, the interest reduced and arrears of interest prior to 1st July 1936 cancelled. However the loan once again went into default in 1939.

Your Price:$160.00
Weight:0.030 kg
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