| REF. NO. | DENOMINATION | DESCRIPTION | NO.ISSUED | VALUE |
|---|---|---|---|---|
 |
||||
| 101 | 500 francs | red and black, with coupons | 46,000 | £20 |
 |
||||
| 102 | 500 francs | – with original coupons, no endorsement | inc. above | £50 |
| 103 | fractional scrip | red and black | ? | £10 |
China: 1925 8% Lung Tsing U Hai Railway Loan
Authorised 23,000,000 francs in exchange for bonds of the 1919 Lung Tsing U Hai Loan at the rate of 17 new bonds for 16 of the old.
In default and readjusted with new interest rates. New coupons sheets issued accordingly.
1925
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