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1911 HUK £20 HSBC

1911 HUK £20 HSBC Image

CHB Ref: 1911/5HUK/£20/HSBC
Kuhlmann: 230

1911 - 5% Hukuang Railways Sinking Fund Gold Loan

Capital:
£10,000,000

Denomination:
£20
No Issued: 2,500
Serial From: 0001 - 2,500
Arrangers: HSBC

Dimensions of the Bond:
550 x 370 mm

The total loan authorized was £10,000,000, of which only a first series of £6,000,000 was issued by the Banking Consortium as follows:

- £1,500.000 by the Hongkong & Shanghai Banking Corporation in London at 99¾% and in Shanghai at 95%;
- £1,500,000 by the Banque de L'lndo-Chine in Paris at 100½%;
- £1,500,000 by the DeutschAsiatische Bank in Berlin at 100 %; and
- £ I ,500,000 by the New York Banks: J,P. Morgan & Co ., Kuhn, Loeb & Co ., the First National Bank of the City of New York and the National City Bank of New York at 97%.

The purpose of the loan was for the redemption of various internal loans secured on the Hankow-Canton-Szechuan Railways, for the construction of railway lines in the provinces of Hunan and Hupeh, including the completion of approx. 560 miles of the Canton-Hankow Railway, and to complete the railway line between Wuchang on the Yangtzekiang and Changsha.

The Hukuang Loan was secured upon a first charge on general salt, rice and Likin taxes of Hunan and Hupeh provinces. Coupons were payable on 15th June and 15th December each year.

Your Price:$349.00
Weight:0.030 kg
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