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Auction: CSS36 - Banknotes, Bonds & Shares and Coins of China and Hong Kong
Lot: 24

1925 8% Skoda Loan, group of 8 bonds, 5 pounds (2), 10 pounds (2), 50 pounds (2) and 100pounds (2),

The Skoda Loan II of 1925 was for the capital sum of £6,866,046
10/10. The loan was issued subject to and with the benefit of an
agreement dated 14th November 1922 and a Supplementary
Agreement dated 30th September 1925 between the Chinese
Minister of Finance, representing the Chinese Government and the
Italian Bank for China formerly known as the Sino-Italian Bank.
The Italian Bank for China was acting on behalf of the bond holders
of the succession loans to the Skoda Loan I in 1911, which were
referred to as the 1912 Arnhold Karberg Loans I & II, the 1913
Arnhold Karberg Loan III, the 1913 Austrian Loans I & II, and the
1914 Austrian Loan III. New 1925 Skoda Loan II bonds, to the face
value of £150, were issued for every £100 due on the 1911 Skoda
Loan I, and the succession loans listed above.
The financial institutions which participated in the loan were the
Italian Bank for China, Credito Italiano Bank of London, and J.
Hambro & Sons in London. Bearer bonds of six different
denominations were issued as listed in the table above.
The Skoda Loan II was guaranteed by the securities1 detailed on
the original Skoda Loan I and the succession loans listed above. It
was further secured by a first charge upon the tax on the Transfer
of Property and Title Deeds. The coupons were payable on 30th
June and 30 December each year.
For each of the six denominations of bonds issued, there were ten
different redemption dates and in consequence different numbers
of coupons were attached to each bond depending upon the
redemption dates. These variations within each denomination
effectively means that there are a total of 60 different variations of
the bonds issued under the Skoda Loan II.
The original 1911 Skoda Loan I was for the capital sum of £750,000
and was offered to the Chinese Goverment by Arnhold, Karberg &
Co. The purpose of the loan was to purchase arms for naval and
military use from the Skoda Works factory in Pilsen, Czech Republic2
extremely fine (8)


1925年史可達公司8%第二次公債一組8枚，分5、10、50及100英鎊各2枚，EF

Sold for
HK$3,500