| REF. NO. | DENOMINATION | DESCRIPTION | NO.ISSUED | CONDITION | VALUE |
|---|---|---|---|---|---|
 |
|||||
| 101 | 20 yen | brown, with coupons, unissued? | #000877 | EF | £100-120 |
 |
|||||
| 102 | 10,000 yen | blue, with coupons | #000127 | EF | £150-200 |
China: 1939 (Showa 14) Shanghai Residents 5% Educational Loan
The Japan Residents Association took over the management of Education in Shanghai in 1907 and by 1926 nearly 3,000 pupils were studying in Shanghai. This was one of several small loans raised to aid expansion during the Japanese Occupation period.
1939