Company's surplus net profits derived from working the Railway in each year all expenses and outgoings of all kinds having been paid, including the Railway Company's administration expenses, and after payment of all interest on Mortgages, Debentures, or other borrowed money, all dividends on Preference Shares and Stock, and of annual cumulative dividends of ... per cent. on the paid-up ordinary capital of the Railway Company for the time being issued and entitled to dividend.
9. The Government shall have the right at any time after a period of ... years from the date hereof to purchase and take over the Railway with the rolling stock, plant, stores and materials and everything connected therewith including the Telegraph and all current contracts and engagements of the Railway Company indemnifying the Railway Company against all liabilities upon giving twelve calendar months previous notice in writing to the Railway Company in London of its intention so to do.
10. The price to be paid by the Government to the Railway Company for such purchase of the Railway, its property, effects and telegraph shall be a sum in cash sterling equal to the amount of the Railway Company's issued capital, debentures and other securities plus the amount of any reserve funds accumulated out of the profits of working the Railway or otherwise on the date of the expiration of such 12 months' notice, first giving credit to the Government for their proportion on that date of the balance of any reserve funds which shall have been created out of the Government's portion of the profits of working the Railway. As a further consideration for such purchase the Government shall also pay to the Railway Company a sum equal to ... times the whole average annual net profits of working the Railway for the three years actually preceding the completion of such purchase, provided always that such last mentioned sum shall not in any event be more than ... per cent. of the total amount of the Railway Company's issued capital, debentures and other securities. Such cash payments to carry interest against the Government at the rate of 7 per cent. per annum from the date on which the purchase shall take effect, and upon payment thereof in full the Railway Company shall be bound to give up possession of the purchased property to the Government.
amount to
2052
(
DRAFT.
MO
13052-
04
Anit
HongKong
Wo Keswich Eight hud. Borthern
Sir,
Surrey
MINUTE.
Zur
418
co.
3 sdday April, 1944
Lytteltor has had
under consideration the
draft proposal of The
Sir M. Nathan 26 Akil British & Chinese Corporation
Mr.
Mr. Antrobus.
Mr. Cox.
Mr. Lucas.
Mr. Graham.
26
Sir M. Ommanney. 26
The Duke of Marlborough,
Mr. Lyttelton. 30-
26 Apil
+ Limited "
scheme from
Anod 19415
railway
Kowth.
to Cartons which you
were good enough to have at this office thetho and subsequently
to discuss with
A
Sir M. Nathan
pist !!
on the 14th
2. The droste proport contemplates the surrender to the Chinese Government of the advantages that thi Corporation obtained by their agreement with that government