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1905 Honan £100

1905 Honan £100 Image

CHB Ref: 1905/5HON/£100/Lloy
Kuhlmann: 145

1905-07 - 5% Honan Railway (Taokow-Chinghua Railway)

Capital: £700,000
Denomination: £100
Series: 1905
No Issued: 7,000
Serial From: 0001 - 7,000
Arrangers: HSBC for Peking Syndicate

Dimensions of the Bond:
470 x 330 mm

This loan was arranged by the Peking Syndicate, Ltd. The first issue in 1905 was for £700,000, the second issue was for £100,000 in 1906 at 90% and 87½% respectively. The Hongkong & Shanghai Banking Corporation was initially appointed as bankers for the loan but were replaced
by Lloyds Bank in London, and the Chartered Bank of India, Australia and China for the Chinese flotation. The Peking Syndicate Ltd. started to float the 6,829 Bonds it held in February 1914 in London at 87½%. Under the terms of the re-adjustment in 1936, the Hongkong & Shanghai Banking Corporation were once again appointed as bankers for this loan.

The purpose of the loan was for the construction of a Railway from Taokow to Ching Hua in Honan,
The railway was operational by July 1904.

The loan was secured upon a direct obligation of the Chinese Imperial Government and a first charge mortgage on the existing railway line and its revenues. Coupons were payable on 1st January and 1st July each year. Payment of interest and principal has been in default since 1926.

Your Price:$199.00
Weight:0.030 kg
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