THE HONGKONG TELEGRAPH. SATURDAY, DECEMBER 17, 1932.
THE PLACING OF THE WHOLE OF THE UNDERMENTIONED ISSUE HAS BEEN UNDERTAKEN BY BENJAMIN & POTTS, ON BEHALF OF THE CITY GOVERNMENT OF GREATER SHANGHAI
THE CITY GOVERNMENT OF GREATER SHANGHAI
SHANGHAI REHABILITATION LOAN OF 1932
Issue in Shanghai of Shanghai Dollars 6,000,000, Seven per cent Shanghai Dollar Bonds, for a term of 20 years ending 1952 PRICE Shanghai $85 per Shanghai $100 Bond
AUTHORISED BY THE NATIONAL GOVERNMENT OF CHINA AND GUARANTEED BY THE CITY GOVERNMENT
OF THE ABOVE, SHANGHAI $4,000,000 HAVE ALREADY BEEN APPLIED FOR AND ALLOTTED IN FULL.
APPLICATIONS WILL BE received foR THE BALANCE OF SHANGHAI $2,000,000
Agents of the City Government for this loan
BENJAMIN & POTTS
7 Peking Road, Shanghai
Lawyers:
HANSONS, 7 Peking Road, Shanghai
Bankers
19
tortt
THE HONGKONG & SHANGHAI BANKING CORP.
Shanghai
Copies of the Prospectus and Application Forms may be obtained from BENJAMIN & POTTS and the Undermentioned Banks
SECURITY
The Principal and Interest is secured on the Wharfage Dues collected by the Commissioner of Customs at Shanghai for the City Government of Greater Shanghai and paid into the Hongkong & Shanghai Banking Corporation under an agreement made between The City Government and Messrs. Benjamin & Potts, dated October 25th, 1932, a copy of which can bo', inspected at the offices of Messrs. Benjamin & Potts. No. 7 Peking Road, and Messrs. Hansons of 7 Peking Road, Shanghai. As additional security, should the Wharfage Dues be Insufficient to meet the sums required as instalments for the service of this loan, the Inspector-General of Customs, acting on irrevocable instructions from the Minister of Finance, is to pay the amount of such deficiency out of Customs Revenue at the end of each quarter to the Hongkong & Shanghai Banking Corporation subject to existing obligations, but with priority over all later charges. Before any surplus funds from Wharfage Dues are released to the City Covernment, an amount equivalent to one full year's requirement for the service of the loan is to be accumulated as a reserve in the Hongkong
Shanghai Banking Corporation.
PRINCIPAL AND INTEREST FREE FROM CHINESE TAXES AND IMPOSTS, PRESENT AND FUTURE. ISSUE IN SHANGHAI of Shanghai $6,000,000, seven per cent Shanghai Dollar Bonds, in Bonds to bearer of Shanghai $1,000 and Shanghai $100, with half yearly coupons attached for interest at the rate of 7 per cent, per annum payable 15th June and 15th December...A full six months Interest will be payable on June 15th, 1933.
THE BEARER OF EACH BOND IS ENTITLED TO:
1.
2,
Interest at 7 per cent per annum on the nominal value payable half yearly on June 15th and December 15th of each year,
The redemption at par of the nominal principal in local currency according to the amortisation schedule which appears below. The redemption is to be effected by Semi-Annual drawings, and the first redemption payment is to be made on June 15th, 1933.
Payable in full on application against which a Banker's Receipt will be given.
If no allotment is made, subscriptions will be refunded on production of the Banker's Receipt, as will also the balance if only a portion of the amount applied for is allotted. THE RETURN to the Bondholder, including redemption, on the subscription price of Shanghai $85 per Shanghai $100 Bond, as shown on the Amortisation Table hereunder, and as in the Bond, averages 9.5896%
:
pri
End of
Face Value Cost of Bonds Drawings Cost of Drawn
15. 6.40
V1Year
15. 6.33
15.12.33
15.12.34 15. 6.35 -15.12.35
15. 6.30 5.12.30 15. 6.37 16.12.37 16. 6.38 16.12.38 15, 6.39 16.12.30
15.12.40
@ 85%
Bonds 85%
Amortisation 7% Int.
Profit
Amortization
Profits and Int.
End of Year
Face Value
Cost of Bonda
Drawings Cost of Drawn Amortization 7% Int. Amortisation
5,040,000
5,040,000
@ 85%
00,000
51,000
9,000
Bonds 85% Profit
210,000
219,000
6,880,000
4,098,000
60,000
GD00
9,000
207,000
216,000
15. 0.43 15.12.43
4,020,000
Profits as “at.
3,417,000
120,000
102,000
18,000
16. 6.34
5,820,000
4,947,000
G0,000
61,000
6,700,000
1,000
205,800
3,000,000
3,316,000
144,000
10
214,800
120,000
102,000
18,000
15. 0.44
4,896,000
30,000
f1,300
2,000
203,700
1,720,000
6,700,000
212,700
3,162,000
110,700
180,000
153,000
4,846,000
15.12.44
9,600,000
G0,000
51,000
.* 0,000
201,600
6,680,000
4,743,000
120,000
102,000
18,000
210,000
3,000,000
27,000
130,600
120,000
103,600
102,000
18,000
10. 0.45
199,500
5,420,000
217,500
2,907,000
130,200
180,000
148,200
153,000
27,000
$,520,000
1,002,000
5,400,000
5,340,000
4.639,000
1,690,000
60,000
51,900
3,000
10:12:45
2,300,000
198,300
2,505,000
120,000
204,300
120,000
102,000
18,000
193,200
16. 6.46
3,120,000
211,200
15.12.46
2,652,000
102,000
120,000
353,000
18,000
110,700
180,000
187,700
163,000
27,000
2,040,000
60,000
51,000
0,000
180,000
2.490,000
116,600
142,500
108,000
180,000
€,220,000
15, 0.47
5,160,000
4,437,000 4,380,000
120,000
102,000
102.000
18,000
180,900
204,000
2,760,000
159,000
27,000
109,200
2,340.000
60,000
21,000
51.000
9,000
1
182,700
16.12.47
191,700
2,530,000
180,000
106,200
153,000
27,000
2,193,000
102,000
129,900
180,000
15. 6.48
153,000
27,000
5,040,000
4.284.000
120,000
102,000
102.000
18,000
18.000
180,000
2,400,000
20,000
2,040.000
123,600
198,000
180,000
15.12.48
163,000
27,000
00,300
4,980,000
1,233,000
60,000
51,000
1.000
,000
170,400
18% 400
2,220,000
1,887,000
117,800
4,800,000
180,400
180,000
153,000
16. 6.40
4,131,000
120,000
102,000
18,000
174,300
4,740,000
4,029,000
120,000
4,020,000
102,000
192,300
2,040,000
27,000
84,000
1,734,000
111,000
180,000
163,000
27,000
15.12.49
3,027,000
120,000
15. 6.41 15.12.41 10 6.42 15.12.42
4,600,000
3,825,000
102,000
18,000
18,000
1,800,000
77,700
1,530,000
104,700
240,000
204,000
30,000
170,100
188,100
15. 6.50
1G0,000
183,900
16.12.60
1,020,000
71,400
1,377,000
107,400
180,000
153,000
27,000
03,000
120.000
1,380,000
20,000
102,000
13,000
161,700
1,173,000
240,000
204,000
30,000
179,700
15, 0,51
4,380,000
3,723,000
-1,140,000
120,000
060,000
102,000
18,000
157,500
176,500
4,200,000 4,140,000
3,621,000
120,000
102,000
18,000
3,519,000
120,000
102,000
18,000
163,300 140,100
171,300
107,10M
15.12.51 1. 4.52 16.12.09
240,000
56.700
204,000
36,000
$2,700
48,300
000,000 660,000
706,000
84,300
240,000
204,000
36,000
29,900
561,000
76,000
240,000
204,000
30,000
31,500
€7,500
660,000
601,000
90,000
83,100
122,100
+
A complete statement showing how the service of the loan is to be effected, detalling income and Interest thereon, and outgoings on account of interest and redemption payments compiled on a half yearly basis, may be inspected at the offices of Messrs. Benjamin & Potts, 7 Peking Road, Shanghai
*
THE HONGKONG & SHANGHAI BANKING CORPORATION, SHANGHAI are acting as Bankers for Messrs. Benjamin & Potts for effecting payment of interest and principal, and are authorised to receive subscriptions for Shanghai $6,000,000 Shanghai Dollar Bonds of the above loan, Applications may also be lodged at BENJAMIN & POTTS,11, Queen's Road Central, Hongkong and at the Shanghai Offices of the following Banking Institutions:
CENTRAL BANK OF CHINA
BANK OF CHINA
BANK OF COMMUNICATIONS
THE SUBSCRIPTION LIST will open on Wednesday, the 21st December, 1932 at 10 a.m. and close
on or before noon the same day.
THE WHOLE OF THIS ISSUE HAS BEEN UNDERWRITTEN BY
BENJAMIN & POTTS
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