A
Hong Kong
ALL COMMUNICATIONS
TO BE ADDRESSED TO THE
CROWN AGENTS FOR THE COLONIES,
THE ABOVE REFERENCE AND THE
DATE OF THIS LETTER BEINO QUOTED.
TEL.ADD. "CROWN, LONDON!"
Sir,
Hong Kong.
C. 0.
38
4282
WHITEHALL GARDENS,
LONDON, S. W.
6th February
1908
I have the honour to acknowledge the receipt of
07/ your letter of the 27th January No.1602/1968 and to state
that we shall be prepared to finance the Goverment of
Hong Kong in connection with the Kowloon Railway works by
making such advances at Bank rate varying as may be required
temporarily in advance of the annual reimbursements of
€110,000 on account of the Wuchang Loan.
2. The interest for advances made to the Colonial
Government from the Wuchang Loan Fund has been fixed at
23. 13. 0 per cent which is the rate payable on the Loan
raised by the Colony in order to provide funds for the
Loan of £1,000,000 to the Chinese Government, but any
further advances outside this arrangement would of course
have to be paid for by the Colonial Government at the
rates of interest ruling from time to time.
3. The security for the sums to be advanced by us
should in our opinion consist of a first charge on the
re-payments by the Chinese Government and we would ask to
be provided with some intimation that the repayments are
hypothecated to us for the purpose.
I have the honour to be,
Sir,
Your Obedient Servant
The Under Secretary of State,
&C
&c &C
Colonial Office.