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Société Ottomane du Chemin de Fer Smyrne-Cassaba et Prolongement

24284

4% bond 500 Fr / LT.22 N°094,913, Société Ottomane du Chemin de Fer Smyrne-Cassaba et Prolongement, 155,000 bonds 4% 1895, Imperial Firman 17 Feb. 1892. Imprimerie Chaix. Trilingual. State guarantee. Paid 15 Fr.

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The Smyrne-Cassaba (Izmir-Kassaba) Railway is one of the first railway lines of the Ottoman Empire, connecting Smyrna (Izmir), the great port city of the Aegean coast, to the Anatolian hinterland. Founded with British capital in the 1860s, the network expanded eastward in the form of the "Prolongement" (Extension). The Société Ottomane du Chemin de Fer Smyrne-Cassaba et Prolongement, constituted pursuant to the Imperial Firman of 17 February 1892, took over the operation and development of the network. In 1895, it issued 155,000 4% bonds of Fr.500 or LT.22 each, totalling Frs.77,500,000 or LT.3,410,000, to finance construction of the Prolongement towards the Anatolian interior (Afyon-Karahissar line, for which the Ottoman government guarantees gross receipts of LT.830.76 per kilometre). This bond N°094,913 bears annual interest of Fr.20 or 8 piastres per bond, redeemable at Fr.500 or LT.22 in 50 years by lottery drawings each July. Payable in gold at Constantinople (Imperial Ottoman Bank), Paris (Société Générale pour favoriser l'Industrie Nationale) and Brussels and Geneva (Banque de Paris et des Pays-Bas). The stamp "Payé en répartition 15 Fr." attests to a partial payment made. Trilingual (French, Ottoman/Turkish, English) document printed by Imprimerie Chaix, rue Bergère, Paris.

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