Watch List notes:

Mukden Bank of Industrial Development, 1918-1919 Bond Issue Color Trial Proof Pair. Lot of 2 notes, Both are Mukden, China. 1918-1919 Bond issues, Includes $10 Bond. P-S1325 Unlisted Color Trial Proof of brown, red and turquoise green back and blue, brown and green back, both are printed on india paper with archival notations and dated "May 1, 1918" or "April 1st, 1918. Both are printed on india paper with large margins and imprints, both would be Uncirculated to choice uncirculated condition but the excess margin has small pieces missing or small tears due to removal from previous mounting. ABNC. Unique back proof Color Trials.

Estimate: 2000 - 4000