The 1913 China Lung-Tsing U-Hai Railway, £20 is also known as “Super Petchili”, a name inherited by the 1913 China Reorganization Loan bonds which was popular in the year 2012. The characteristics of the Lung-Tsing-Uhai loan raised the interest of collectors and speculators to an unprecedented level, positioning the Super Petchili bonds as one of the most popular Chinese bonds.
The Super Petchili is a Chinese Uncancelled Bond with coupons and is typically sold at AntiquaDocs with the Passco authenticity report. Most of the Super Petchilis are commonly found with 42 coupons.
The Lung-Tsing-U-hai Railway Loan of 1913, Super Petchili was issued to finance the construction and equipment of the China railway between Lanchow and Haichow (north of Yangtze).
It appears that the arrangement for this loan did not go according to the original plan for the Government of the Chinese republic and only <u>200,000 </u>bonds of £20 denomination were issued in 1913, the £100 bonds were never issued.
Later in 1937 an additional 29,019 bonds were issued with the same £20 denomination, bringing the total number of £20 bonds issued to 229,019.
This loan went into default in 1926 and coupons were unpaid from the date. Attempts to re-service the loan took place in 1936 but that only lasted for a short period and the loan once again went into default.