PARIS. 4% Obligation de F500. black, red. #362613. Between 1882 and 1889, the Panama Canal company issued 7 different bonds. This is the scarce fourth bond issue. Their nominal value is 500 francs, but they were offered to the public at 333 francs. 362,613 bonds were offered, but only 141,517 subscribed to. Adverse news about the canal construction difficulties had badly influenced European nvestors. The bond we offer has still most coupons attached (No. 9-33), which is a very unusual feature for Panama Canal bonds. According to J. Grigore, in his reference work on the financing of the Panama Canal, this 4th bond issue is extremely rare with "less than 10 have been reported". First time we can offer one of these in our auctions.
Date: 10 April 1886
Startprice: € 500