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Honduras: 1867 Government Railway Loan

Loan of £1,000,000 or 25,000,000 francs, issued in London at 80% by the London & County Bank for the construction of an interoceanic Railway from Puerto Caballos, on the Atlantic, to the Bay of Fonseca, on the Pacific. Originally secured  on the railway and its revenues, also State domains and mahogany forests. Redeemable in 17 years. The French issue appears to have been represented by provisional certificates only and the loan was then re-negotiated in 1869. In total default from 1872. Bonds could be deposited with the Council of Foreign Bondholders from 1925 and paid at reduced rates. Those not deposited by 1928 were not redeemable. Certificates of deposit from CFB were paid off in 1953 at about 40%. Total not deposited £59,660.

1867

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REF. NO. DENOMINATION DESCRIPTION NO. ISSUED CONDITION VALUE
101 £20 1868, letter A, black & green, with coupons 10,000 VF £70-90
102 £100 1868, letter B, black & blue, with coupons 2,000 VF £100-120
103 £500 ? 600 – £-
104 £1000 ? 300 – £-
105 deferred share 1867, black & pink 10,000 VF £30-40
106 Provisional certificate 1867, black, for bond of 500 francs. #414 F £30-40

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