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1938 TPK SCRIP TPS8 Image

CHB Ref: 1938/TPK/£3:16:8/HSBC/SCRIP
Kuhlmann: TPS 8

Fractional Scrip Certificate for one-third of a 1938 Non-Interest Bearing Sterling Funding Bond for £11:10:0.

(Relates to: 5% Tientsin-Pukow Railway Loans of 1908 and 1910)

Loan Capital:
Denomination of SCRIP: £3:16:8
Series: London
No Issued: 33,300
Serial From: 0001 - 33,300
Arrangers: Hongkong & Shanghai Banking Corporation

On presentation of three Fractional Scrip Certificates, making a total of £11 : 10 : 0., the bearer was entitled to receive in exchange for these certificates, one Non-interest Bearing Sterling Funding Bond of the Chinese Government for £11 : 10 : 0. in accordance with Offer of the Chinese Government to holders of Bonds of the above loans, published in "The Times" newspaper on 25th February, 1936 and on 6th September, 1938.

This original loan was arranged by the Hongkong & Shanghai Banking Corporation on behalf of the Chinese
Central Railways who handled 37% of the loan and by the Deutsch-Asiatische Bank which handled the remaining 63%. A total of £5,000,000 was offered as follows:

- £1,110,000 at 98 ½% by Hongkong & Shanghai Corporation in London March 1908
- £1,890,000 at 98½% by Deutsch-Asiatische Bank in Berlin March 1908
- £740,000 at 100% by Hongkong & Shanghai Corporation in London June-September 1909
- £ 1,260,000 at 100% Deutsch-Asiatische Bank in Berlin June-September 1908

The purpose of the loan was for the construction of a railway connecting the existing railway system in North China to the Shanghai-Nanking railway system. The loan was secured by a first charge on Likin revenues and on native customs revenues of the provinces of Chihli, Shantung and Kiangsu. The net revenues of the railway line were to be applied to service the loan and any surplus was to have been deposited with the Banks, which countersigned the loans in Tientsin or Shanghai.

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Weight:0.020 kg
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