Watch List notes:

Wu Tsuh Bank, share receipt and agreement for 10 units, dated 25th October 1921, certificate number 315, capital of 1,000,000 yuan divided into 1,000 shares, sage green underprint in seal script, purple borders, printed by the Ministry of Finance Printing Bureau. Wu Tsuh Bank was headquartered in Beijing, and the name of the bank is derived from the 5 main ethnic groups of China, namely the Manchurians, Hans, Mongolians, Huis and Tibetans. The bank is also said to have ties with Liu Guanxiong (then Minister of Navy) and Liang Shiyi (then General Manager of Bank of Communications, and previously Premier of the Republic of China). It ceased operating in 1925. Extremely fine, paper still crisp, minor stains, with the original envelop and interest coupons, scarce.

Estimate: 10000 - 30000