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to name a fixed price and Mr Bland therefore hoped that the Chinese Government would conclude the present agreement on the equitable basis of a fixed commission payable to the Corporation to cover all expenses of the loan and to remunerate the Corporation for its services in floating the same.
The minimum rate at which the Chinese Government could expect the Corporation to do this business (in the absence of the profit certificates to which the Corporation was properly entitled under the terms of the concession) would be 5 points below issue price he thought that if the other conditions of the agreement were amicably arranged, the business might well be done on these terms.
Article 2. The Chinese Government's intention, based on experience gained in the Northern Railway, is to build a single line of railway, The provision of land, bridges, &c for double lines would be a matter for the Viceroy's consideration, and no pledges need be given. There could be no possible necessity, in H.E.'s opinion, for a double line at present. MR BLAND observed that the matter was one for experts, but that the Viceroy had in his own draft recognised the advisability of providing for future development of traffic. Questions of construction must depend upon local requirements, survey, etc., but the decision taken by the Chinese Government might affect the flotation of the loan.
Article 3. Proposed to delete all reference to the Salt Gabelle and to include the remainder of this Article under Article 1.
Article 4, H.E.T'ang thought that this Article needed little amendment but reference to the additional £500,000 would be unnecessary if it were definitely decided that the Viceroy of Canton would subscribe for bonds to that amount.
Deleted.
Article 5.
Article 6. H.E.Tang Shao-yi desired the omission of that paragraph which stipulates for reference, in case of disagreement between the Viceroy and the Corporation's representative to Waiwupu and Legation.
the
Article.