Under the authority of Resolution VII passed at the Annual Meeting of Ratepayers"held on April 14, 1937, the Council invites applications for debentures in the Loan of 1937.
The Debentures in this issue will be for Chinese Dollars, local currency, and will bear interest from the date of purchase at the rate of 5 per cent. per annum, payable on June 30 and December 31 in each year, The Debentures will be issued at 99 per cent, and will be redeemed at par under the operation of a Sinking Fund on December 31, 1967, but may be redeemed in whole or in part on December 31, 1947, or on any subsequent date subject to the Council giving six calendar months" notice in the Municipal Gazette and the public press of Shanghai. In the event of any partial redemption of the Loan, the numbers of Debentures to be redeemed will be decided by drawing.
The property of the Municipality and the yearly Municipal revenue are the security for the payment of principal and interest, subject to a prior charge in respect to the Loans of 1926 and 1927.
The scrip will be issued in denominations of $10,000, $5,000, $1,000, $500 and $100 to suit the convenience of applicants, The Subscription List will be opened at 10 a.m. on July 5, 1937, in the Loans and Banking Office of the Finance Department, Room 257, Administration Building, 209 Kiangse Road, Shanghai.
Application forms can be obtained from and all enquiries should be addressed to the Treasurer and Controller at the above address.
By Order,
Text read from the printed page and cleaned; old type leaves the occasional error.