5% conversion railroad loan of 1926.
Fractional certificate 15 zl.
Variety: wide "No" in numerator; paper with watermark "waves" (Type V according to J. Mazur Catalog).
Fractional certificates of 5% railroad loan of 1926 with denominations other than 0.75 zlotys are very rare securities.
Recommended!
format_quoteThis loan was for the conversion or exchange of railroad bonds listed in the Decree of the Minister of Treasury of August 18, 1926 on the exchange of railroad bonds from the former Austrian district.The conversion was carried out as a result of the fulfillment of obligations assumed by the Republic of Poland pursuant to the Treaty with the Allied and Associated Powers with Austria signed at Saint Germain en Laye on September 10, 1919, on the distribution of Austrian debt, and in particular on account of the redemption of railroad bonds issued before World War 1 in the former Austrian district secured on railroads taken over by Poland.
Fractional certificates were issued for fractional amounts in relation to the lowest denomination of the fixed bond of 30 zlotys, and this is why their denominations were so strange. These certificates could be exchanged for a fixed bond after collecting their equivalent in certificates. Depending on the denomination of the fractional certificate, one had to collect 2, 4, 8 or 40 fractional certificates, respectively, to purchase the lowest denomination bondformat_quote
