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New, July 2021
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The Bank of Communications Series of 1914 - 交通銀行 三年
Section B: Control Markings
A study of the 1914 series notes bearing numerical, Chinese character or letter control overprints, and other markings.
These markings indicated that the place or branch of issue is other than the Bank of Communications regional branch name as stamped on the notes, for example a domestic or foreign commercial bank.
The vast majority of such notes are of the script signature type. Contrary to the statement in the Standard Catalog of World Paper Money, the 1914 series issues with Chinese script signatures on the front (in place of the red seals) are not the first issues of the 1914 series. Some Chinese sources state that this type was issued from 1927 and ceased before 1935 as they were no longer regarded as neccassary due to the currency reforms of that year. A recent source has specified the issue and circulation dates as from November 1928 to May 1933, however others state the cut-off as late as 1934/1935.
Additionally, an earlier form of this scheme was in use somewhere between 1915 and the mid 1920s, as some examples of the earliest (and rarest) issues of the 1914 series are found with various control markings.
Similar schemes were used by the Bank of China, Central Bank of China and Farmers Bank of China (the control overprinted issues of which are especially difficult to find) during circa 1926-1936. Some commercial banks such as the China & South Sea Bank also appear to have had a scheme for issuing their notes through other banks and businesses.
These markings indicated that the place or branch of issue is other than the Bank of Communications regional branch name as stamped on the notes, for example a domestic or foreign commercial bank.
The vast majority of such notes are of the script signature type. Contrary to the statement in the Standard Catalog of World Paper Money, the 1914 series issues with Chinese script signatures on the front (in place of the red seals) are not the first issues of the 1914 series. Some Chinese sources state that this type was issued from 1927 and ceased before 1935 as they were no longer regarded as neccassary due to the currency reforms of that year. A recent source has specified the issue and circulation dates as from November 1928 to May 1933, however others state the cut-off as late as 1934/1935.
Additionally, an earlier form of this scheme was in use somewhere between 1915 and the mid 1920s, as some examples of the earliest (and rarest) issues of the 1914 series are found with various control markings.
Similar schemes were used by the Bank of China, Central Bank of China and Farmers Bank of China (the control overprinted issues of which are especially difficult to find) during circa 1926-1936. Some commercial banks such as the China & South Sea Bank also appear to have had a scheme for issuing their notes through other banks and businesses.
1915 - early 1920s
The Shanghai, Chekiang, Hankow, Tientsin, and Kiangsu branch notes from this first period of issue are known to carry a variety of overprints in red for presumably a similar scheme as that adopted 1928-1933. The official status and other details of these is unknown beyond the 12 varieties of control overprints so far identified.
Examples of the early issue Shantung branch 5 yuan are known with a cancelled overprint, most likely covering a placename; Tsingtao (Qingdao), or Tsinan (Jinan).
As with the later scheme, control marks appear mostly on 5 or 10 yuan notes (and less frequently on the 1 yuan). However there are rarely encountered 50 and 100 yuan notes of the Tientsin branch and Hankow branch with markings.
The Shanghai, Chekiang, Hankow, Tientsin, and Kiangsu branch notes from this first period of issue are known to carry a variety of overprints in red for presumably a similar scheme as that adopted 1928-1933. The official status and other details of these is unknown beyond the 12 varieties of control overprints so far identified.
Examples of the early issue Shantung branch 5 yuan are known with a cancelled overprint, most likely covering a placename; Tsingtao (Qingdao), or Tsinan (Jinan).
As with the later scheme, control marks appear mostly on 5 or 10 yuan notes (and less frequently on the 1 yuan). However there are rarely encountered 50 and 100 yuan notes of the Tientsin branch and Hankow branch with markings.
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Above: Hankow branch issue with a matching pair of small red Chinese characters 財 on the (upper) front only. The same pair of characters are also found on a Hankow 1 yuan and specimen 50 and 100 yuan Hankow issues. A green Shanghai 10 yuan is known with a different pair of characters in the same position. Also, a green Kiangsu 10 yuan with a different pair of characters, however positioned on the lower half of the front.
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Above: Shanghai branch issue featuring a red letter; what appears to be a 'T' followed by a fullstop, alternated with a red Chinese character. Another example has a pair of letters 'SS' and a very helpful bank/business date stamp of 'October 13 1923'.
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Above: Shanghai branch issue, with two pairs of alternating characters in red.
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Above: with cross and 'H' control markings, for issue in Hankow.
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Above: Shanghai branch issue featuring a symbol (possibly 'M' or 'Y', and 'H' combined) alternated with a Chinese character.
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Above: a Tientsin branch issue featuring a logo (apparently forming a five petal flower) alternated with a Chinese character.
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Above: Shanghai branch issue featuring a red logo, possibly comprising two stylised letters 'C' and 'B', alternated with a red Chinese character
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Above: Tientsin branch issue with 'H' control overprints for Hankow area issue. Also a pair of Chinese control characters 丙and a pair of stylised floral symbols beside each serial number. There is a matching 100 yuan.
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Above: Hankow branch issue with four identical latin letters (in this case 'D') on the front and back, and an additional italicised letter or symbol repeated twice on the front only, at left and right. Other examples known with just the four letters and no additional letter/symbol
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Above: A Tientsin branch 50 yuan with what appears to be a control marking of some kind (one or a pair of characters within a box) on the front and back. May simply be a chop applied by a business the note passed through, though the very deliberate placing suggests otherwise
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Above: Tientsin branch with an unusual 'WA' control mark on the front. Only known example
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Above: what appears to be a single red control character at the upper right on this Honan branch note, front only. It may merely be an informal chop added by a business, though its positioning and resemblance to control markings makes that less likely
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1928 - 1933 Script signature issues
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13
Lei Chao 李钟楚 (Li Zhongchu) 鍣 Manager (Tsingtao, Tientsin) 1923 - 1933 |
14
Lu Xuepu 卢学溥 (1877-1956) Chairman 1928-1933 |
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Hu Meng-chia, T.D Woo, 胡孟嘉 (1888-1936) Assistant Manager Shanghai Branch 1922 - 1927, General Manager 1928 - 1933 |
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Liang Shiyi/Shizhen 梁士诒 (1869-1933) General Manager 1918 - 1922 and 1925 - 1928 |
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13b
As above |
14b
As above |
15b
As above |
16b
As above |
1928 - 1933/1935 Script signature issues
Four branches of the Bank of Communications issued 1914 notes of the script signature type: Shanghai (1, 5, 10 yuan), Shantung (10 yuan), Tientsin (5 and 10 yuan), and Kiukiang (1 and 5 yuan).
Of the Shanghai issue there are three main types (and numerous sub-types) of control markings, found on the 5 yuan and 10 yuan but not on the 1 yuan:
Firstly, numerical, such as ①②③④⑤and so on, the same number repeated four times on each side of the note. These were issued by domestic commercial banks in Shanghai.
Four branches of the Bank of Communications issued 1914 notes of the script signature type: Shanghai (1, 5, 10 yuan), Shantung (10 yuan), Tientsin (5 and 10 yuan), and Kiukiang (1 and 5 yuan).
Of the Shanghai issue there are three main types (and numerous sub-types) of control markings, found on the 5 yuan and 10 yuan but not on the 1 yuan:
Firstly, numerical, such as ①②③④⑤and so on, the same number repeated four times on each side of the note. These were issued by domestic commercial banks in Shanghai.
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Above: 'large number' in circular frame, printed in the same color as the signatures and branch name.
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Above: 'small number' in circular frame, though this is only of course due it being a two digit number resized to fit a fixed space.
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Second, marked with the Latin alphabet A,B,C,D,E......, the same letter repeated four times on each side of the note. These were issued by foreign commercial banks (including overseas Chinese banks) in Shanghai. They appear to be the least common type, with very few examples known. At least one example is known (5 yuan) with four unframed large red repeating letters ('Q') on each side, though these are thought to be fake overprints.
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Above: a single letter framed in a circle, printed in the same blue as the signatures and branch name.
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Above: the 10 yuan issue, otherwise indentical to the 5 yuan.
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The third is the addition of Chinese characters, for example: 安,亨,江,....., the same character repeated four times on each side of the note. These were issued by commercial banks and private banks in Shanghai. There are several varieties and sub-types.
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Above: the standard type and most common type, with four identical blue characters on each side of the note
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Above: a far less common version, with the characters inside a circular frame (only two different characters so far observed)
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Above: with an additional single character in black, on each side, at the top right of the vignettes, near or on the right serial. The main character 大 is for the Shanghai Dazhong Bank
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Above: with an additional matching pair of blue latin letters (in this case 'B') at left and right, on the front only. Two examples observed; both marked B and with the same Chinese characters. Examples with much smaller letters ('A') are known.
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Above: with an additional matching pair of larger red or black characters on each side
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Above: with an additional pair of black non-identical characters on the front only
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Above: with an additional pair of identical black characters on the upper front, and a pair of identical numbers on the lower front (in this case '14'). Repeated on the back.
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Above: with an additional pair of small characters in blue, flanking the front vignette, and above the back serial numbers.
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Above: small red Chinese character at upper left and right, with small red number at lower left and right; front only.
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Above: small blue latin letters at upper left and lower right, in addition to the four chinese character control marks
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Some of the characters and their related banks:
上 - the Shanghai Commercial Savings Bank
恒 - the Hengli Bank established in 1928, the manager (president) was Wang Zhuping.
信 - Xinyu Bank
国 - National Bank
大 - Dazhong Bank
昌 - Chungchang (Junchang) Bank, in operation 1920-1950
易 - Tongyi Trust Bank, founded 1921
東 - Shanghai East China Bank. Said to have issued these notes 1931-1934
墾 - (垦) Land Bank of China, 1929-1951
甬 - The Industrial Bank of Ningpo
安 - Anyue Bank, 1879-1958
子 - Womens Commercial and Savings Bank, Shanghai. Opened on May 27, 1924, and joined a public-private partnership in 1955.
福 - (Tianjin) Fukangren Bank (apparently during 1934-1935)
上 - the Shanghai Commercial Savings Bank
恒 - the Hengli Bank established in 1928, the manager (president) was Wang Zhuping.
信 - Xinyu Bank
国 - National Bank
大 - Dazhong Bank
昌 - Chungchang (Junchang) Bank, in operation 1920-1950
易 - Tongyi Trust Bank, founded 1921
東 - Shanghai East China Bank. Said to have issued these notes 1931-1934
墾 - (垦) Land Bank of China, 1929-1951
甬 - The Industrial Bank of Ningpo
安 - Anyue Bank, 1879-1958
子 - Womens Commercial and Savings Bank, Shanghai. Opened on May 27, 1924, and joined a public-private partnership in 1955.
福 - (Tianjin) Fukangren Bank (apparently during 1934-1935)
As yet unidentified characters include:
康, 峰, 亨, 江, 普 or/and 晋, 義 (now 义), 隆, 農 (now 农), 勸 (now 劝), 商, 實 (now 实), 市, 順 (now 顺), 郵 (now 邮), 耘, 政, 貨 (now 货), 華 (now 华), 佳, 康, 和, 惠, 滙 (now 汇), 濟 (now 济), 興 (now 兴), 楠, 蓄, 永, 列, 鄂, 明, 政, 同, 通, 聚, 新
康, 峰, 亨, 江, 普 or/and 晋, 義 (now 义), 隆, 農 (now 农), 勸 (now 劝), 商, 實 (now 实), 市, 順 (now 顺), 郵 (now 邮), 耘, 政, 貨 (now 货), 華 (now 华), 佳, 康, 和, 惠, 滙 (now 汇), 濟 (now 济), 興 (now 兴), 楠, 蓄, 永, 列, 鄂, 明, 政, 同, 通, 聚, 新
For the Tientsin (Tianjin) issue, there is only one main (proven) type of control markings, found on the red 5 yuan (SCWPM 117s2) and the purple 10 yuan (SCWPM 118t2). These are numerical, 1,2,3,4,5..., of one, two or three digits in length, but of a different format to that of the Shanghai issues. The same number appears twice on each side of the note. There is a variety with an additional numerical stamp in red. Other varieties are possible. The 'official' status of these is unknown.
However, Smith & Matravers Chinese Banknotes (1970) does mention Chinese character control marking for the red 5 yuan of this branch, and does even list four examples: 福 (which has indeed been revealed as the indentifying mark for the Fukangren Bank based in Tientsin), 永, 貨, 商
These notes were issued and circulated in Tientsin, Peking, and across North/North-East China.
However, Smith & Matravers Chinese Banknotes (1970) does mention Chinese character control marking for the red 5 yuan of this branch, and does even list four examples: 福 (which has indeed been revealed as the indentifying mark for the Fukangren Bank based in Tientsin), 永, 貨, 商
These notes were issued and circulated in Tientsin, Peking, and across North/North-East China.
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Above: standard type with a pair of matching numbers on each side.
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Above: with additional red-orange matching numbers at left and right.
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Above: standard type with a pair of matching numbers on each side.
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Above: an unusual example with a mirrored identical pair of Chinese control characters, 中, within a violet oval. It may relate to the type claimed by Smith & Matravers as mentioned above, but the style makes it more likely to be unofficial.
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Shantung and Kuikiang both issued the script signature type notes, however neither branch issues are known with control markings.
Additional control marked issues:
Notes stamped for issue in Peking (Beijing) or Hankow (Hankou)
Tientsin branch notes stamped with an 'H'. These are known to have been redeemable only at the Hankow (Hankou) branch; see the 1915 - 1920s section above.
Notes stamped with a 'P' in red (or blue) were only redeemable at the Peking (Beijing) branch. The 'P' overprint is also known on early (brown) 1 yuan issues of Tientsin. The script signature type (lower right) were only issued by the Tientsin branch, on 5 yuan notes.
The Shanghai branch later took over issue of the notes for Peking (apparently due to shortages or other difficulties with Tientsin branch notes), during the 1930s. The denominations: 1 yuan (with prefix F and suffix P), 5 yuan (with prefixes SB and suffix K) and 10 yuan (prefix S and suffix P) notes were used.
Tientsin branch notes stamped with an 'H'. These are known to have been redeemable only at the Hankow (Hankou) branch; see the 1915 - 1920s section above.
Notes stamped with a 'P' in red (or blue) were only redeemable at the Peking (Beijing) branch. The 'P' overprint is also known on early (brown) 1 yuan issues of Tientsin. The script signature type (lower right) were only issued by the Tientsin branch, on 5 yuan notes.
The Shanghai branch later took over issue of the notes for Peking (apparently due to shortages or other difficulties with Tientsin branch notes), during the 1930s. The denominations: 1 yuan (with prefix F and suffix P), 5 yuan (with prefixes SB and suffix K) and 10 yuan (prefix S and suffix P) notes were used.
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Above: standard 1930s Shanghai branch issue overprinted with a red 'P' to indicate issue/redemption from the Peking branch.
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Above: with overprint 'P' on the back only.
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Sources include:
http://www.chinazhibi.com/banknote-bbs-28-31.html
Yangming Auctions
Smith & Matravers Chinese Banknotes (1970)
The China Monthly Review, 1920s
http://www.chinazhibi.com/banknote-bbs-28-31.html
Yangming Auctions
Smith & Matravers Chinese Banknotes (1970)
The China Monthly Review, 1920s
