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The Guide: Loans Department

Throughout the 19th century, the primary and best known area of business of NMR was the issuing of bonds as a means of raising loans, largely for sovereign governments. A list of loans issued by or contracted for by NMR alone or in partnership is given at the end of this section based on Jules Ayer's, A Century of Finance, published privately in 1904, and on internal sources.

Information on loans can be found in many series, but the quality of the information varies tremendously.  Practically nothing can be traced recording Nathan Mayer's involvement in the West Indies Loan of 1835, for example.  For correspondence concerning loans, the series XI/109 (page G:7), XI/111 (page G:56) and the various Sundry series, XI/112-130 (page G:57) will be the most fruitful. The few surviving series emanating from the Loans Department are listed below.

Loan Contracts,1824-1930* 000/401, 15 boxes

Most of NMR's major issues are recorded here in a series that includes, besides the contract itself, supporting correspondence and drafts of documents.  Summary file listing available.

Loans Issued at New Court - Specimens of Bonds and Scrip,1823-1911   XIII/206/1, 1 box

This collection of documents is not comprehensive, but includes specimen bonds from some of New Court's earliest issues, such as the Prussian 1818 Loan, the Russian 1822 Loan and the Neapolitan 1822 Loan. 

Prospectuses,1858-1916  XIII/230/1-95, 10 boxes

Samples of prospectuses relating to almost all New Court issues. 

Loans and Conversions Books,1884-1905   XI/154/0-2, 3 volumes

The three volumes in this series list the names of applicants for stock in NMR issues, the amount requested and the amount allowed.  They were deposited in the Archive by the Correspondence Department but have been included here for clarity.   

Cash Book, Russian Loan,1818-1819 XIII/14/1, 1 volume

A record of subscriptions for the loan.

Major business of the London House, 1818-1914

1818                 Prussian Government 5% Loan, £5m

1819                 British Government 3% Loan, £12m

1821                 Neapolitan Government 5% Loan, 16m ducats (c.£2m) with C. M. Rothschild 

1822                 Prussian Government 5% Loan, £3.5m

1822                 Russian Government 5% Loan, £6.6m

1822                 Neapolitan Government Loan, 20m ducats (c.£2.5m), contracted for by C. M Rothschild; subscriptions received by N. M. Rothschild

1823                 Portuguese Government 5% Loan at the charge of Brazilian Government, £1.5m

1823                 French Government 5% Loan, f23m (c.£18.5m), contracted for by de Rothschild Frères; London subscriptions received by N. M. Rothschild

1824                 Austrian Government 5% Loan, £3.1m, with Baring Brothers & Co., and Reid, Irving & Co.

1824                 Alliance Marine Assurance Company £5m of shares

1824                 Brazilian Government 5% Loan, £1.7m, with Thomas Wilson & Co.

1824                 Neapolitan Government 5% Loan, £3.5m

1825                 Brazilian Government 5% Loan, £2m, the remainder of the original £3m proposed to be raised by the Brazilian Government in 1824

1825                 Government of the Grand Duchy of Hesse 4% Loan, 6m florins, by all the Rothschild houses

1829                 British Government Treasury Bills, £3m

1829                 Brazilian Government 5% Loan, £800,000, with Thomas Wilson & Co.

1830                 French Government 4% Loan, f80m (c.3.2m)

1830                 Prussian Government 4% Loan, £3.8m

1831                 Dutch Government 21/2% Loan, £500,000

1832                 Belgian Government 5% Loan, £3.7m with de Rothschild Frères 

1833                 Greek Government 5% Loan, £2.34m

1835                 Portuguese Government 3% Loan, £4m

1835                 Danish Government 5% Loan, £3m

1835                 West India Loan, £15m

1838                 Belgian Government 3% Loan, £2.75m

1839                 United States Bank Loan, £900,000, with de Rothschild Frères

1839                 British Exchequer Bills, £5.5m

1841                 French Government 3% Loan, f150m (c.£6m), de Rothschild Frères, with N. M. Rothschild & Sons

1844                 Belgian Government 21/2% Loan, £6.2m, de Rothschild Frères, with N. M. Rothschild & Sons

1845                 Northern of France Railway, f150m (c.£6m)

1845                 Lyons, Paris, Lille Valenciennes Railway, f200m (c.£8m)

1847                  Irish 3% Loan, £8.9m, with Baring Brothers

1852                 Austrian Government 5% Loan, £3.5m, of which £2.25m reserved for N. M.  Rothschild & Sons, the rest reserved for subscription in Frankfurt

1852                 Brazilian Government 41/2% Loan, £1.04m

1854                 Eastern Railway of France, f62.5m (c.£2.5m)    

1855                 British Government 3% Loan, £16m

1855                 French Government 41/2% or 31/2% Loan, f750m (c.£30m)

1855                 Turkish 5% Loan, £5m

1856                 British Government 3% Loan, £8.9m

1856                 Imperial Lombardo Venetian and Central Italian Railway Company, issue of £6m, concessions granted to the Rothschild houses

1856                 Imperial Lombardo Venetian and Central Italian Railway Company, issue of £3.125m of 156,250 3% obligations

1856                 British Government 3% Loan, £5.4m

1858                 Bahia and San Francisco Railway Company, issue of £1.8m

1858                 Brazilian Government 41/2% Loan, £1.5m

1859                 Austrian Government 5% Loan, £6m

1859                 Brazilian Government 5% Loan, £503,000

1859                 San Paulo Railway Company, issue of £2m,with P. Cazenove & Co.

1860                 Brazilian Government 41/2% Loan, £1.37m

1862                 Russian Government 5% Loan, £15m, with de Rothschild Frères, Paris

1863                 Italian Government 5% Loan, f75m (c.£3m)

1863                 Brazilian Government 41/2% Loan, £3.85m

1865                 Brazilian Government 5% Loan, £6.9m

1865                 San Paulo Railway Company, £200,000 7% debentures

1866                 South Austrian, Lombardo, Venetian and Central Italian Railway Loan, £6m, with de Rothschild Frères, Paris, and M. A. Rothschild & Söhne, Frankfurt

1866                 South Austrian, Lombardo, Venetian & Central Railway Loan, £3.6m

1868                 New South Wales Government 5% Loan, £1m, with the New South Wales Bank

1870                 Russian 5% Consolidated Railway Bonds, £12m, with de Rothschild Frères

1870                 Spanish Quicksilver Mortgage 5% Bonds, £2.3m, with de Rothschild Frères

1871                 Brazilian Government 5% Loan, £3.4m

1871                 Russian Government 5% Consolidated Bonds, £12m, with de Rothschild Frères

1871                 French National 5% Loan, f2,000m (c.£97.5m stock), with Baring Brothers

1871                 South Austrian, Lombardo, Venetian and Central Italy Railway Loan, £15m

1872                 City of New York 6% Loan, $15m (c.£3.1m)

1872                 Russian 5% Consolidated Bonds, £15m, with de Rothschild Frères

1872                 Channel Tunnel Company Limited, £80,000

1872                 French National Loan, f3,000m (c.£141.5m stock), with Baring Brothers and the Financial Agency of the French Government

1873                 United States Government 5% Funded Loan, $300m, with Baring Brothers and others

1873                 Russian Consolidated 5% Bonds, £15m, with and de Rothschild Frères

1873                 Hungarian 6% Treasury Bonds, £7.5m

1874                 Hungarian 6% Treasury Bonds, £7.5m

1875                 Brazilian Government 5% Loan, £5.3m

1875                 New Zealand Immigration and Public Works 41/2% Loan, £4m

1875                 Russian Consolidated 41/2% Bonds, £15m,with de Rothschild Frères, authorised to negotiate the sale of £8m

1876                 United States Government 41/2% Funded Loan, $300m (c.£62m),  with J. S. Morgan & Co., and Seligman Brothers

1877                 Hungarian 6% Rentes, £8m

1877                 United States Government 4% Funded Loan, $700m (c.£143.9m), with J. S. Morgan & Co., Seligman Brothers and Morton, Rose & Co.

1878                 Egyptian State Domain 5% Loan, £8.5m, with de Rothschild Frères

1881                 Hungarian 4$ Gold Rentes, £16m

1881                 The Bengal Central Railway Company Limited, £1m, with Baring Brothers & Co.

1882                 The Rohilkund and Kumaon Railway Company Limited, £200,000, 

1882                 The Bengal and North Western Railway Company Limited, 4% Loan, £2.2m, with Baring Brothers & Co.

1883                 Brazilian Government 41/2% Loan, £4.6m

1883                 Hungarian 4% Gold Rentes, £5m, conversion by N. M. Rothschild & Sons and others

1884                 Bahia and San Francisco Railway Company Limited, £298,000

1884                 Hungarian 4% Gold Rentes, £10m, March, conversion by N. M. Rothschild & Sons and others

1884                 Hungarian 4% Gold Rentes, £16m, September, conversion by N. M. Rothschild & Sons and others

1884                 Egyptian Government, £1m unsecured

1885                 Egyptian Guaranteed 3% Loan, £9.4m

1886                 Bahia and San Francisco Railway Company Limited, £20,000, 

1886                 Brazilian Government 5% Loan, £6.4m

1886                 Manchester Ship Canal Company, £7.25m, with the Bank of England at Manchester

1886                 Chilean Government 41/2% Loan, £6m

1887                 Chicago, Milwaukee and St Paul Railway 5% Bonds, $4m (c.£800,000)

1887                 Russian Conversion

1887                 Bengal and Nagpur Railway Company Limited, £3m

1887                 Manchester Ship Canal Company 5% Preference Shares, £4m, with Baring Brothers

1887                 Chilian Government 41/2% Loan, £1.1m

1888                 Bank of Tarapaca and London Limited, £1.17m

1888                 The Naval Construction and Armaments Company Limited, £225,000

1888                 Brazilian Government 41/2% Loan, £6.3m

1888                 Egyptian 41/2% Loan, £2.3m, with de Rothschild Frères, M. A. Rothschild & Söhne and S. Bleichröder

1889                 Manchester Ship Canal Company 4% Mortgage Debentures, £1.3m, with  Baring Brothers

1889                 Burma Ruby Mines Limited, £300,000

1889                 Russian Government 4% Loan, £27.7m, bonds issued to be applied to the conversion and repayment of railway loans of 1870, 1871, 1872, 1873, 1874

1889                 Russian Government 4% Bonds, £49.1m, bonds issued as above

1889                 Brazilian Government 4% Loan, £19.8m

1890                 Russian Government 4% Bonds, £11.8m

1890                 Egyptian Preference 31/2% Loan, £29.4m, with de Rothschild Frères, M. A. Rothschild & Söhne, S. Bleichröder and Disconto Gesellschaft

1891                 Manchester Ship Canal Company 4% First Mortagage Debentures, £453,000

1891                 Ottoman Defence 4% Loan, £6.3m

1892                 South African Republic 5% Government Bonds, £2.5m

1892                 New Telephone Company Limited, £488,000

1892                 Chilean Government 5% Loan, £1.8m

1893                 Western of Minas Railroad 5% Bonds, £3.7m

1894                 De Beers Consolidated Mines 5% First Mortgage Bonds, £3.5m

1894                 Ottoman 31/2% Loan, £8.2

1894                 Russian Government 31/2% Loan, £15.8m

1895                 United States Government 4% Loan $62.3m (=£14.1m), issued with J. S. Morgan & Co

1895                 Chilean Government 41/2% Loan, £2m

1895                 Rio Tinto Company Limited 4% First Mortgage Bonds, £3.6m

1895                 Brazilian Government 5% Loan, £7.4m

1896                 Chilean Government 5% Loan, £4m

1896                 Burma Railways Company Limited, £2.6m

1898-1901         Brazilian 5% Funding, £8.6m

1901                 The Four Per Cent Industrial Dwellings Company Limited, £70,000

1902                  Brazilian 4% Guaranteed Rescission Bonds, £14.6m

1903                 Chilean Government Treasury Bills, £1.5m

1903                 Brazilian Government 5% Loan, £5.5m

1904                 Transvaal Government 3% Guaranteed Loan, £5m, NMR tendered for £1.2m

1905                 Chilean Government 5% Loan, £1.25m

1906                 Companhia Lloyd Brasileiro 5% Sterling Bonds, £1.1m

1907                 United States of Brazil Government 5%, £3m

1907                 Japanese 5% Sterling Loan, £11.5m

1908                 United States of Brazil Government 5% Loan, £4m

1908                 Pennsylvania Railroad 4% Mortgage Bonds, £4m

1909                 Chilean 5% Loan, £3m

1909                 Grand Trunk Pacific Railroad 3% First Mortgage Sterling Bonds, £2m

1910                 Brazilian 4% Loan, £10m

1910                 Lloyd Brasileiro 4% Sterling Bonds, £1m

1910                 Chilean 5% Loan, £2.6m

1911                 Chilean 5% Loan (First Series), £4.9m

1911                 Chilean 5% Loan (Second Series), £5m

1911                 Chilean 41/2% Bonds - Copiapo Railway, £275,000

1911                 Brazilian 4% Loan, £4.5m

1913                 Brazilian 5% Loan, £11m

1913                 Municipality of Concepcion 51/2% Loan, £100,000

1914                 Brazilian 5% Funding Bonds, £14.5m

1914                 Hungarian 41/2% Loan, £3m

1914                 Austrian Government 41/2% Treasury Notes (with Schröders and others), £16.5m

1922                Chilean Government 7.5% Loan, £1,657,000

1922                Brazilian 7.5% Loan, £9m

1922                Czechoslovakian 8% Loan, £1,850,000

1922                Brazilian 7.5% Coffee Security Loan (with Barings and Schröders), £9m

1924                Japanese 6% Loan of £25m to facilitate reconstruction work in Tokyo after the 1923 earthquake

1924                Hungarian 7.5% Loan, £7,902,700

1924                Czechoslovakia Sterling Bond Issue, £1.85m

1926                Hungarian 7% Sterling Bond Loan (with Barings and Schröder), £1.25m

1926                City of Tokyo 5.5% Loan to aid reconstruction after 1923 earthquake (with others), £6m

1926                State of San Paulo, Brazil, Waterworks Loan (with Barings and Schröders), £2.5m

1927                Brazilian 6.5% Lan, £8,750,000

1927                Hungarian 6% Sterling Bonds Loan (with Barings and Schröders), £1m

1927                Consorzio di Credito per le Opere Pubbliche, Sterling Bond Issue (with Morgan Grenfell and Hambros), £1.6m

1927                State of Minas Geraes, Brazil Treasury Bills Issue (with others), £4m

1927                Brazilian 6.5% Loan, £7m

1928                Underground Electric Railways Co., London Debenture Issue, £4m

1928                State of Minas Geraes 6.5% 30 year external Loan, £1.75m

1928                Chilean 6% Loan, £2m

1928                Underground Electric Railways Co. Stock Issue (with Barings and Schröders), £4m

1928                State of San Paulo 6% 40 year external Loan (with Barings and Schröders), £3.5m

1928                Chilean 6% Loan, £2m

1929                Austrian Vorarberge Illwerke 6% 1st Mortgage Sterling Bond Issue, £2m

1929                London Electric Railway Co. Stock Issue (with Barings and Schröders), £5m

1929                Chilean 6% Loan, £2m

1930                London Electric Railways Co. Debenture Issue to pay for the extension and improvment of the Piccadilly Line and the provision of direct subway communication between Monument and Bank stations, £5m

1930                London Electric Railways Co. Debenture Issue for extensions and improvements to Piccadilly Line, £3.45m

1930                London Electric Railways Co. Debenture Issue for extensions and improvements to Piccadilly Line, £850,000

1930               London Electric Railways Co. and Central London Railways Co. Loan Issue (with Barings and Schröders)

1930               Chilean Treasury Bills Issue, £2m

1930               Japanese 5.5% Loan, £12.5m

1930               Austrian 7% Loan, £3m

1930               San Paulo 7% Coffee Realisation Loan (with Barings and Schröders), £8m

1930               Chilean Treasury Bills Issue, £2m