10.PY)
TRANSLATION.
"'Wai San fat Po' of 5/11/06
C. 9. 279
Scheme of inviting people to take shares in the Canton-Hankow Railway.
CECR
12 JAN 07
The Canton-Whampoa railway is to be constructed by the money subscribed for shares. T.S.Cheung Pat-oz has undertaken to invite people to take up shares. No pecuniary aid of the Government is required. He has drawn up 31 rules which have been sent to the Board of Trade to be kept on record. At present the expenditure for the commencement of the work is heavy and a close estimate of the cost of land, material, etc., shows that about 900,000 to 1,000,000 taels are required. T.S.Cheung, Lord High Chamberlain, will advance from 100,000 to 200,000 taels to get the work started, and he will offer the shares to be taken up in the South at 100 taels each. The number of shares is fixed at 9,000 and Chinese subscriptions only are to be accepted.
As to the survey and scheme of construction of the whole line, the rate of custom duties and the track for the railway, although a general plan has been decided upon, a great many things have not been discussed, and when the New Viceroy arrives, the whole scheme will be discussed and carried out.
It was originally decided that the work of opening Whampoa as a commercial spot should be included in the Canton-Whampoa Railway. It has been time after time surveyed by foreign surveyors, all of whom have been of opinion that it would be a suitable spot owing to its being on the route for vessels trading between Canton and Hongkong and there being an extensive area and deep water more than ten fathoms in depth, if wharves and godowns are erected, it will be proved a suitable port for trading vessels of all nations. A clear and simple plan has been made and sent to the Viceroy who will submit it to the Board of Trade for consideration. When nearly all the shares have been taken up, a decision will be arrived at as to whether both schemes shall be carried out simultaneously or one before the other.