THE BRITISH AND CHINESE CORPORATION, LIMITED.
Telegraphic Address:
"BICAMERIST, LONDON"
616
3, Lombard Street, London, E.C.
December 10th, 1894.
C.O.
G. V. Fiddes Esq., C.B.
Colonial Office,
Downing Street, S.W.
Dear Mr. Fiddes,
41961
4 12 DEC (04)
Final Loan Agreement
for the Canton-Kowloon Railway.
He has today answered that from what he has heard he thinks conditions will suit.
Yours &c.
Waller Rangles
Since calling upon you with Mr. Macrae on Thursday in reply to your letter of the 7th instant, I have conferred with my colleagues and informed them that we were unable to convince you of the desirability of altering Proposal L in the manner suggested in my letter of the 5th instant.
Such being the case, and being anxious to do all we can to facilitate the business, we have decided, and I am requested to intimate it to you, that the Board acquiesce in the proposal as it stands, expressing only the hope that you will consider, and we trust allow, the Chinese to take into the cost of the Railway the discount at which they are obliged to allow upon the placing of their Bonds. Of the necessity of this discount we have no doubt of being able to convince you, as we have practical experience of the cost of floating Chinese Loans, and we feel sure that the Chinese will object to the principle of their discount being regarded as dead Capital.