Sunday, July 14, 2013
£20 Government of the Province of Petchili - Part 2
The following brief history is from “Historic Foreign Bonds of China” published in 2012 by John M. Thomson.
The loan was, “Created by virtue of a resolution of the Assembly of the Province of Petchili. By agreement entered into on the 27th January 1913, the Government of the Chinese Republic has sanctioned the above mentioned resolution by guaranteeing absolutely and unconditionally the punctual payment of principal and interest of the present loan”.
The participating financial institution was the Banque de Reports, de Fonds Publics et de Depots. Bearer bonds were floated in both Brussels and Antwerp.
The purpose of the loan was for public works and improvements to be executed in the Province of Petchili. The loan was secured upon a first mortgage on taxes collected and raised by the Province of Petchili on wine and tobacco yields with an additional guarantee from the central government of the Republic of China. Coupons were payable on 1st February and 1st August each year.
It should always be stressed that we sell these bonds for their historical, graphic, and collectible merits only. We always make it clear (though these bonds are uncanceled) that all Chinese bonds are not negotiable. On the other hand, these are the very same bonds that are so sought after and popular. There is absolutely no difference. We sell all these Chinese bonds with accompanying PASS-CO authentications.
For more information visit our web site, http://www.glabarre.com, or call George LaBarre at 1-800-717-9529.
George H. LaBarre Galleries - Collectible Stocks and Bonds and Old Stocks and Bonds
A foreign antique stock and bond company.
*Source: Historic Foreign Bonds of China by John M. Thomson (2012)