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modifications as are required to meet the different conditions

and include provision for the incorporation in the system of working of that part of the Railway which will be in British

Territory and which will be constructed by the Government of

Hongkong, such incorporation to be under an arrangement which will admit of the two portions of the Railway although separately owned being worked as one undertaking.

The draft Agreement and scheme will be submitted to you before being presented to the Chinese Authorities.

I am,

Sir,

Your obedient Servant,

[to the ...]

Chairman.

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