556
... to throw the Corporation ...
... or he ...
... before ... over at this ...
Li ... our Scheme as ... receive reasonable inducements to fall in with it.
I think that In Fidder's scheme satisfies these conditions and that it will work, provided the Chinese end eventually of the local Canton-Hankow Railway working by the Board of Conciliators and the Joint Board, which is, I understand, likely to be arranged for.
... that it ... privately ... be sent out to Mr. Nathan for him to ... and they recirculate.
20/10
Proceed on ...
We must await Sir. Mr. Nathan's recommendations.
AL.
8/11
Ihan Jones so.
Copy quy noth attaches 28/10
Minute for consideration P.27/10
REVISE.
0.0 38877
Reeb ... 1885- 14 NOV 04
CANTON-KOWLOON RAILWAY8
On 28th March, 1899, a preliminary agreement was entered into between Sheng, Director-General of the Imperial Chinese Railway Administration, and the Agents of the British and Chinese Corporation, Limited. It provided inter alia:
(1) That the terms of the preliminary agreement of 13th May, 1898 [i.e., for the Shanghai-Nanking Railway] are adopted as a preliminary agreement for the construction and working of railways between Canton and British Kowloon;
(2) That this is subject, as far as practicable, to the terms and conditions of the final contract for the Shanghai-Nanking Railway when signed and ratified;
(3) That both parties agree to make reciprocal and satisfactory working arrangements in conjunction with the Canton-Hankow Railway;
(4) That the Corporation will take prompt steps for the survey of the Canton-Kowloon line.
2. The Final Agreement for the Shanghai-Nanking Railway, referred to above, was signed by the same parties on the 9th July, 1903. The provisions which chiefly concern us are the following:
(1) The Corporation to issue on behalf of the Chinese Railway Administration a sterling loan of £3,250,000 in Chinese Government 5 per cent. bonds of £100, with the railway as first mortgage security. Price of bonds 90 per cent.; any profit or loss in selling the bonds to the public to accrue to the Corporation; duration of loan 50 years.
(2) Proceeds of loan to be used in the construction and equipment of the railway and in paying interest on loan during construction. Corporation to build and equip the line; Chinese Administration to secure the land for a double line of railway.
(3) Loan to be secured by first mortgage, in favour of the Corporation (as trustees for the bondholders), on the said railway and upon the already completed Woosung-Shanghai Railway.
(4) Agreement to be null and void if construction not begun within twelve months of ratification. Proceeds of bonds to be either kept in England for payment of materials and contracts, or transferred to banks in ...
...