440
Memorial on the subject. MR.BLAND replied that this rate was named when the Loan was quoted at over 102, excluding interest; the present price, received by wire today being 100¼, and the issue could not therefore be made at more than 99½ to 100. To expect the price to be 98 was asking an impossibility.
It was agreed that a meeting would be held on Wednesday next at 2.30 p.m. to consider the Corporation's final terms as to the period of option for the Canton-Kowloon Railway Loan issue, at which meeting the completely revised draft agreement would be submitted in English and Chinese.
In conclusion, MR.BLAND suggested that the wording of Article 18 was vague and likely to lead to complications hereafter, owing to the difficulty of defining the actual interstate regulations; he suggested an amendment to the text, which was agreed to, omitting all reference to this condition.
The meeting then adjourned.
(Signed)
J. U. F. Bland,
12