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1925 French Boxer $50

1925 French Boxer $50 Image

CHB Ref: 1925/5FBOX/$50/BIC/CAN
Kuhlmann: 670 A (Cancelled)

(
Note: The dfifference between K670 and K670A is a Henry Schroder stamp on the top of the K670A Bonds indicating that they may be cashed at the Henry Schroder Counting House in London. They are however, essentially the same bond)

1925 - 5% (French Boxer Indemnity) Rep US Gold

Capital: $43,893,900
Denomination: $50
No Issued: 877,878
Serial From: 00001 - 877,878
Arrangers: Banque de l'Indo-Chine

Dimensions of the Bond:
325 x 240 mm

This loan of US$43,893,900 was floated at 100%, mainly in Paris and London, by the Societe Francaise de Gerance de la Banque Industrielle de Chine, which was formed by the Banque de I'indo-Chine and the Banque Franco-Chinoise pour Ie Commerce et I'lndustrie and other French banks after the failure of the Banque Industrielle de Chine . The purposes of the loan were as follows:

- Reorganisation of the French Boxer Indemnities of 190I, of which 24 instalments were relinquished to China during the period from 1922 to 1924. The remaining outstanding balance was converted to US$ and advanced to the Banque Franco-Chinoise Commerce & Industrielle.
- Composition with the Far Eastern creditors of the Banque Industrielle de Chine, by transactional settlement which was agreed on 26th September 1923. As security for the reimbursement of the advance, the bank turned over to the Government of the Republic of China all the Repartition Bonds, held by the Far Eastern creditors. The creditors received the new 5% US$ bonds as detailed above, at par, in exchange for the Repartition Bonds.
- Payment of overdue shares originally subscribed to by the Government of the Republic of China toward the capital of the Banque Industrielle de Chine and for the liquidation of existing obligations due by the Government of the Republic of China to the Banque Industrielle de Chine.
- For Sino-French philanthropic and educational programs.

The principal and interest was payable at Henry Schroder in London, Banque Franco-Chinoise Commerce & Industrie in Paris, Peking, Shanghai and Saigon and at Banca Commerciale Italiana in New York.

The loan was secured on the annuities, arising from the Reorganisation of the French Boxer Indemnities of 190I and also the surrender of the Repartition Bonds held by Far Eastern creditors as part of the transactional settlement agreed on 26th December 1923. Addition security was provided from the Maritime Customs Revenues, native Chinese customs revenues and salt taxes.

Coupons were payable 1st January and 1st July each year. This loan has been in default since July 1939.

Your Price:$99.00
Weight:0.030 kg
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