S1323

CHINA - Provincial Banks

1 Dollar Bond

Mukden Bank of Industrial Development

Years , , ,  & (11) of the Republic = 1918-1922

American Bank Note Company, New York

Of each the "Bond Notes" (CHINA PS-1320 to PS-1325) there is a green and a black variety.
When the bond was first purchased at the bank, the customer received the green note. After one year the bondholder went to the bank and claimed his interests of 4%.
The bank then stamped the green note with the date of its presentation (in cyclical dating) and kept it in its files. The customer now received a black note in exchange.
This black note could be presented to the bank again after one year, the interests were paid, the note was stamped with the date and kept with the bank. Subsequently, the customer received again a green note (and so on).