1908年京汉铁路英法借款公债，20镑，VF，有微裂；1908 5% (4½%) Anglo-French (Peking-Hankow Railway) Loan, bond for 20 pounds, folio number B110366, The Anglo-French Gold Loan of 1908 was for the capital sum of£5,000,000. The loan was “…authorised by Imperial Edict dated 8thOctober 1908 officially communicated by the Board of Posts andCommunications to the British and French Legations in Peking.Unconditionally guaranteed by the Imperial Chinese Governmentand further secured by a first charge, free from all encumbrances,upon the provincial revenues of the provinces of Chekiang, Kiangsu,Hupei and Chihli to the extent of 4,250,000 Kuping taels per annum.”The participating financial institutions which handled thearrangements for the issuance of bearer bonds against the loan andwhich counter-signed the bonds were the Hongkong and ShanghaiBanking Corporation in London and the Banque de l’Indo-Chine inParis.Each bank was responsible for £2,500,000 and received commissionof 4% for handling this loan. Bearer bonds were offered at 98% inLondon and Paris and issued in various denominations by these twobanks as shown in the tables above. Coupons were payable on 5thApril and 5th October each year.The loan had two purposes. Firstly, £4,000,000 was used to redeemthe Peking-Hankow Railway Loan of 1899 and the remaining balanceof £1,000,000 was to be used for the establishment of variousindustries. The Peking-Hankow Railway Loan of 1899 was for thecapital sum of Fr112,500,000 (£4,500,000) and was used for theconstruction of a railway between Lu-ku-Tchiao, in the vicinity ofPeking and Hankow.Construction of the railway began in 1899 and was completed in1905.Vignette(K 182), very fine, the right borders with multiple small tears
