Watch List notes:

Shanghai Telephone Co. Bond.Shanghai, China, 1933, $1000, Specimen 6% 1st Mortgage Silver Dollar Debenture, Series B, Brown border with title of company logo of circle in Chinese and English with "IT&T System", Coupons attached, Specimen overprints, "00000" serial numbers and POC's, XF condition. Bond is in English. Rare Chinese-American Telephone Company Specimen bond. ABNC.

Estimate: 2200 - 4500 HKD