China Historic Bonds

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SNR Net Profit Sub-Certificate

SNR Net Profit Sub-Certificate Image

1904 - Shanghai-Nanking Railway
Net Profit Sub-Certificate No. D3574

The British & Chinese Corporation Ltd. was entitled to 20% of the net profits fom the railway and ceded the right to subscribers of the Shanghai-Nanking Railway Bonds. In 1904, one Net Profit Certificate (Kuhlmann Ref: 118) was issued to the holder of 5 Shanghai-Nanking Railway Bonds of denomination £100.Subsequently 5 Net Profit Sub-Certificates (Kuhlmann Ref: 119) were issued for every original Net Profit Certificate. The holder of the Net Profit Sub-Certificates were entitled to dividend payments from the profits of the railyway.

The reverse of this particular certificate shows 9 stamps indicating different amounts of dividend paid on divers dates.

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