Authentic China Super Petchili Bonds 1913 Lung Tsing U Hai Coupons with PASS-CO for Sale

Authentic China Super Petchili Bonds 1913 Lung Tsing U Hai Coupons with PASS-CO For Sale

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Authentic China Super Petchili Bonds 1913 Lung Tsing U Hai Coupons with PASS-CO :
$2250.00

Each Bond has all coupons and a PASS-CO Certificate of Authenticity. To protect the security of the Bonds we have edited the photos to cover the Bond Serial numbers. Bond numbers will be provided when payment is received.PASS-CO Authentication Certificates are included with Each Bond.(Go to \"www.Pass-Co.com\" for more information)

BOND DESCRIPTION

The Lung Tsing U Hai Railway Bonds are commonly known as The Super Petchili Bonds. Issued by the Government of the Chinese Republic as the 5% GOLD LOAN OF 1913 LUNG-TSING-U-HAI RAILWAY of £10,000,000 Sterling.

The bonds wereapproved by the Chinese National Assembly of 1912and issued in 1913 as a direct obligation of the Government of the Republic of China. Redemption of the bonds was delayed dueto the Shanghai massacre of 1927 and the subsequent civil war between the Nationalists and the Communists.

TheBonds were issuedin Brussels and Paris on behalf of the Co. Gen. Chemins de Fer et de Tramways en Chinewith a face value of £20 Sterling or 500 Francs and with interest they were payable in GOLD.

HISTORICAL APPEAL andCOLLECTIBLE MEMORABILIA
The ornate and large format bonds are distinctive foreign issue bonds and represent a unique and rare collector item.Titles and Text: Repeated in French and English. Printer: J. Verschueren, Anvers, Belgium. Size: Large Format, 11x20\" plus 10x20\" Coupons.Thesebonds are often found for sale on antique sale and scripophily sites.

REDEMPTION
While the bonds represented a binding obligation upon the government of The Republic of China, and its successors, China defaulted in 1938 and left thousands of global creditors unpaid even to this day.

According to the terms of the bonds, the holders can hold modern day China accountable for these obligations — but any help the bondholder might expect from their respective government has been on hold since 1938.

However, thereis international precedent for such redemptions: In 1987 Prime Minister Margaret Thatcher ordered Beijing to make good on the bonds owned to British citizens or lose access to the British capital markets. Then Chinese President Li Xiannian\'s government obliged, reaching a settlement of 23.5 million British pounds.

Current U.S. BONDHOLDERS

In August 2020, two concurrent resolutionswere presentedto the US Congress;H.Con.Res.110 by Rep Mark Green (R-TN) and S.Con.Res.43 by Sen. Martha McSally (R-AZ)…\"Expressing the sense of Congress that the President should do everything in his power to achieve resolution and repayment of the defaultedsovereigndebtof the People\'s Republic of China held by 20,000 families in the United States represented by the American Bondholders Foundation, LLC.forthe benefit of the bondholders and thepeople of the United States.\" (Google search \"Senator McSally China Obligation\" or \"Congress.gov sovereign debt H.Con.Res.110\").In the unlikely event that the current Chinese Government did decide to honor the outstanding debts from the previous Chinese administrations then these unredeemed bearer bonds may have substantial value.Relevant Google Searches
\"Fox6 News China Bonds\" and\"Bloomberg 1913 China Bonds\"