| REF. NO. | DENOMINATION | DESCRIPTION | NO.ISSUED | VALUE |
|---|---|---|---|---|
 |
||||
| 101 | $100 | [1937], yellow, printed by Waterlow & Sons | #A01700 | £60 |
 |
||||
| 102 | $500 | [1937], blue, printed by Waterlow & Sons | #B00570,#B00742 | £100-120 |
 |
||||
| 103 | $1000 | [1937], red, printed by Waterlow & Sons | Low #C01744 High #02586 |
£80-100 |
| 104 | $5000 | [1937], green, printed by Waterlow & Sons | ? | £300 |
Shanghai Municipal Council, 1937 5% Loan
Registered debentures. The Council converted all outstanding debentures in November 1942 into C.R.B. Currency at the rate of $1 to $2 of the old currency and certificates were duly stamped, usually at the top right corner.
1937