Chinese Gov. - Reorganization Gold Loan of 1913 Coupons. Brown 20 5, German Bank Issue or French Indochina Issue. 42-43 Coupons. The following is courtesy of John M. Thomson in the Historic Foreign Bonds of China book. 1913 - 5 Reorganisation Gold Loan The Reorganisation Gold Loan of 1913 was for the capital sum of 25,000,000. The Loan was, "..authorized by Presidential Order of 22nd April 1913 officially communicated by the Wai Chiao Pu to the Ministers in Peking of Great Britain, Germany, France, Russia and Japan." The newly appointed President of the Republic of China, Yuan Shih Kai, initially approached Britain, France, Germany and United States of America seeking a substantial loan to assist the fledgling government of the Republic of China. Later this group was expanded to include Japan and Russia, but eventually the United States of America withdrew from participation, leaving five countries which agreed to assist the Chinese Government with financial aid. The principal financial institutions which participated in the loan arrangements were the Hongkong & Shanghai Banking Corporation, Deutsch-Asiatiche Bank, Banque de I'Indo-Chine and Russian Asiatic Bank. The Yokohama Specie Bank participated on behalf of Japan, but did not issue separate bonds, countersigned by the bank. Arrangements were made as to convertibility into Japanese Yen of the bearer bonds issued by the other four issuing banks. The banks all received 6% commission allocated to each bank together with bonds issued are detailed in the data tables below: Hongkong & Shanghai Banking Corporation 7,416,680 Deutsch-Asiatiche Bank 6,000,000 Banque de I'Indo-Chine 7,416,660 Russian Asiatic Bank 2,777,780 Russian Asiatic Bank (Belgium) 1,388,880 It should be noted that the original Russian issue bonds which were brown coloured, were subsequently withdrawn and exchanged for a series of green coloured bonds. The original brown coloured bonds, sometimes referred to as "Yellow Bonds" were annulled. Overall Size: 32.5 x 22 in. Framed behind glass.