Author Topic: Sino Scandinavian Bank  (Read 11463 times)

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Offline AllSong

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Sino Scandinavian Bank
« on: February 19, 2014, 04:18:16 PM »
I felt like starting this thread, as the Yuan notes from this bank are my favourite. I feel like it´s unites my two worlds  N40


Planned to write a little about the banks' background and main caracters (a Norwegian man played quite a role, Johan Wilhelm Normann Munthe ) but it'll have to wait---
"Boards don´t hit back!"

Offline mowi

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Re: Sino Scandinavian Bank
« Reply #1 on: February 20, 2014, 02:32:20 AM »
Awesome note, never seen that one before! I look forward to some background info. Is it this gentleman?

http://no.wikipedia.org/wiki/Johan_Wilhelm_Normann_Munthe

Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #2 on: February 20, 2014, 04:01:23 AM »
Yes, that's the guy. What a MOUSTACHE  N16  They don´t mention the bank at all, but all the other things are also quite a story.

The notes are the obvious choice being a collector of Chinese coins & notes and being Scandinavian at the same time   :001_smile:
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Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #3 on: February 20, 2014, 06:56:20 AM »
Not to be lazy (might be actually), but here are some good links about SSB:

http://www.thecurrencycollector.com/pdfs/Foreign_Banks_in_China_Part-III.pdf  frompage 22

http://www.janeriks.no/Banknotes/sino-scand.htm



My third Yuan note is not in the same condition at all, but different from the other 1 Yuan above (guilloches & overprints).
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Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #4 on: July 01, 2014, 05:02:03 PM »
Found a recent article by a curator of the British Museum, Helen Wang, who was kind of puzzled by this note/bank  :biggrin:
Some really usefull info about the note itself, but not impressed about the part on our moustached friend from Norway.

http://blog.britishmuseum.org/2014/06/09/a-viking-ship-on-a-chinese-note/
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Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #5 on: July 10, 2014, 05:14:32 PM »
Just received my newest item and it´s the highest graded I have  :thumbup: I am quite pleased with having added it to my collection  N66

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Offline mowi

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Re: Sino Scandinavian Bank
« Reply #6 on: July 11, 2014, 05:42:13 AM »
Congrats, super nice Viking note!!  N30   N31  N30

Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #7 on: July 11, 2014, 07:16:17 AM »
Cheers Mowi  N47
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Offline AllSong

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Re: Sino Scandinavian Bank
« Reply #8 on: October 12, 2015, 05:23:26 AM »
So far I' ve found three different red overprints onthe top right corner of the obverse side of the 5 Yuan note. Pretty sure there is a fourth red overprint on a 1 Yuan note previously posted in this thread
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Offline chinnotes

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Re: Sino Scandinavian Bank
« Reply #9 on: July 02, 2016, 05:48:09 PM »
The Sino-Scandinavian Bank was a joint venture of Chinese, Norwegian and Danish merchants. It was founded in Nov., 1921. In Dec. of the same year the bank registered with the Beiyang Government. In Jan. ,1922, the bank opened its doors to the public.
The main office of the bank was in Beijing, it opened branches in Changli, Qinhuangdao, Tianjin, Zhangjiakou (=Kalgan) and Shanghai. There were two small agencies in Chongqing and Hankou.
The intended initial capital was 10.000.000 Yuan, but the actual capital which the bank could gather from Chinese, Norwegian and Danish sources was only 2.500.000 Yuan, half of this sum coming from the Chinese.
The director of the bank was a Chinese, its vice-director was a Norwegian. The first Chinese director was Jiang Tianfeng (江天鋒), later he was replaced by Liu Huan (瀏煥). The Norwegian vice-director was Johan Wilhelm Norman Munthe.His signature can be found on all notes issued by the bank. In 1864 he was born in Bergen, Norway. In 1887 he went to China. He participated in the Chinese-Japanese war in 1894/95 as a volunteer. In 1910/11 he was director of Customs in Tianjin. In 1913 he became a lieutenant-general. He remained in China until his death in 1935. His Chinese name was曼德  = Man De (derived from the English pronunciation of his name).
Another signature found on many notes looks like “Farntsan T.Sung”. His Chinese name was 宋發祥 = Song Faxiang. He was one of the founders of the bank, and in 1924 he became managing director in the Beijing office.
A 3rd signature found on certain notes (only on some notes of the first “monochromne” issue) is so far unidentified.
The bank lasted only for 7 years. In 1928, the “Chinese-Japanese Joint Venture Bank” closed its doors, which caused financial turmoil in Beijing and Tianjin, and a run to the Sino-Scandinavian Bank. This latter bank had not enough cash to redeem all notes presented to them, it had to give up business shortly thereafter.
This is an excerpt of an article  (22 pages) „The Sino-Scandinavian Bank – History and Banknotes (華威銀行及其發行的紙幣 ) written by me in 2004. I can write more about this bank if members of this forum are interested…
Erwin

Offline KeepOnTrying!

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Re: Sino Scandinavian Bank
« Reply #10 on: July 02, 2016, 07:09:06 PM »
Please keep the information coming.

Knowledge is priceless.

+1.  N31
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Offline chinnotes

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Re: Sino Scandinavian Bank
« Reply #11 on: July 03, 2016, 03:53:00 AM »
O.k.   As I am rather busy I can write every day only a little bit... Unfortunately English is not my mother tongue, so please forgive me if sometimes my English is not correct.
Here I give an oversight on all banknotes issued by this bank:
From the beginning this bank had the right to issue paper money. Bank notes were issued with the names of all branches, except Shanghai.

There were five note series issues. All notes were printed by the Bureau of Printing and Engraving ( 財政部  = Caizhengbu or Finance Ministry) in Beijing.

1) A silver Yuan issue with monochrome front: 1, 5. 5 Yuan. Dated MG 11 / Feb. 1st, 1922.
2) A series of Yuan notes, with the same date and similar design, but with additional polychrome guilloches on front: 1, 5, 10 Yuan.
3) A series of Jiao or cent notes, dated MG 14 = Oct. 1st, 1925. This was small change money (輔幣). 1 and 2 Jiao only.
4) A series of Mei (=copper) notes, denominations could be divided by 1=: 10 Mei, 30 Mei, 50 Mei. Dated MG 15 = 1926.
5) A series of Mei notes, same dates, but denominations could be divided by 16: 16 Mei, 32 Mei, 48 Mei, 80 Mei.
Erwin

Offline chinnotes

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Re: Sino Scandinavian Bank
« Reply #12 on: July 04, 2016, 06:58:26 AM »
The bank issued a huge amount of banknotes:
Jan.1, 1022, the Beiyang government granted permission to issue banknotes for 1.000.000 silver yuan.
In 1922 the bank asked for permission to issue small denomination notes of 1, 2, and 5 Jiao notes (=10, 20, and 50 Cents), for another 2.000.000 Yuan.
The bank also asked for and was grated permission to issue silver yuan notes for another 250.000 yuan.
July 1, 1924, the bank asked again for and obtained permission to issue notes: 250.000 yuan in silver yuan notes and 200.000 yuan small notes (uibi money).
It is reported that the Beijing branch alone at the end of 1924 had issued 380.000 yuan silver yuan notes and 200.000 yuan small change notes.
For Nov.1926 it is reported, that 279.000 yuan with place name "Beijing" and 211.500 yuan with place name Tianjin were in circulation, plus an additional amount of more than 340.000 yuan (Beijing) and 161.604 yuan (Tianjin) of small change notes.
To be continued.
Erwin

Offline chinnotes

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Re: Sino Scandinavian Bank
« Reply #13 on: July 05, 2016, 04:26:21 AM »
Now let us regard notes of the 1st series: 1, 5, and 10 yuan notes, front monochrome.
The following place names can be found on notes of this series: (in brackets: as on the note)
Beijing (北京 / PEKING)
Tianjin (天津 / TIENTSIN)
Zhangjiakou over Beijing (張家口 / KALGAN)
Changli over Beijing over Suiyuan (昌黎 / “YUNGQI CURRENCY“)

Notes with Beijing were issued first, they show two different signatures at right, the earlier one cannot be read (something like “Sansenfin”), the other one is the signature of Song Faxiang (宋發祥) and looks like „Fartsand T.Sung“

Three denominations were issued: 1 Yuan, 5 Yuan, 10 Yuan.
1 Yuan: serial prefix A, highest serial known with early signature: A0048219, lowest serial known with sign. Song Faxiang: A0056008.
No overprint marks are known.
5 Yuan: serial prefix B, highest serial with unknown signature B0045024, lowest serial seen with signature Song Faxiang: B0059026.
The following control marks were seen: 7, 10, IΔ+ 增 (zeng) l at left and ., 津(jin) at right.
10 Yuan: serial prefix C. Highest serial no. known with early signature: C0019374. Lowest serial with Sung’s signature: C0016494. This means there is some overlapping…
Control marks known so far:
5 (or S?), 7, 8, 10, 20, P at right only,  1Δ
To be continued
Erwin

Offline chinnotes

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Re: Sino Scandinavian Bank
« Reply #14 on: July 06, 2016, 09:25:13 AM »
Here I picture a 1 Yuan note of this 1st (monochrome) series, place name originally Beijing (北京 / PEKING), but changed to Zhangjiakou  ( 张家口 / KALGAN).
This is indeed a mystery note, as otherwise nowhere  in Chinese literature is reported that the SINO-SCANDINAVIAN BANK had a branch in Zhangjiakou. But as the note proofs, this branch must have existed.
Zhangjiakou is the Chinese name, Kalgan was used by Europeans and Russians. Kalgan is a Mongolian word and means “door”, as a mountain pass near Zhangjiakou was regarded as “door” on the way from Beijing to Ulan Bator. After the Trans-Siberian Railway was constructed, Zhangjiakou/Kalgan lost its importance.
So far only 1 denomination, namely 1 Yuan became known. In more than 50 years collecting time I saw only 4 pieces of them. Serials have prefix A, no control marks were seen.  The right signature is that of Song Faxiang, so the note must have been issued 1924 or later.

Erwin