CANTON-KOWLOON RAILWAY.
MINUTES OF MEETING (the 8th) HELD AT THE WAI WU PU ON
THURSDAY 25th OCTOBER AT 2.30 p.m.
Present: -
H.B. T'ang Shao-Yi
Kung Tao-tai and Mr. Hu, representing the Viceroy
of Canton
Er. En, Secretary to the Wai Wu Pu, and
Mr. J.O.P. Bland, representing the British and
Chinese Corporation Limited.
With reference to the question of sterling exchange, MR. BLAND stated that he had not yet received a reply from the Chief Manager of the Hongkong and Shanghai Bank to whom he had referred the matter. He had, however, seen the Manager in Tientsin who had expressed the opinion that, as the arrangement provided for in the present contract, and all others now in force, had worked without disadvantage to the Chinese Government in the case of the Northern Railway, and as the new condition now proposed would certainly create unfair and artificial competition by the Bank's rivals the Bank was justified in refusing to accede to it.
Later in the course of the meeting the Chief Manager's reply was received stating that the Bank could not accept the proposed change in the contract, but was willing to concede an option available at any time within six months previous to each date of payment. After considerable discussion H.B. T'ANG SHAO-YI stated that, if the bank would agree that the local currency sufficient to meet payments might be made to the Bank at the option of the Viceroy, either at Hongkong or Canton, the Clause would be allowed to stand otherwise unamended. He explained that as the receipts...