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British and Chinese Corporation and the French Group.
It was hoped in this way to secure the perfect equality of the two Groups.
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Unfortunately these negotiations failed of success.
The Chinese showed no disposition to enter into negotiations for a Railway Loan. It was decided therefore to see what could be done by way of an International Loan. Mr. Hillier was accordingly authorised by the Banque de l'Indo Chine and the Hongkong and Shanghai Banking Corporation to negotiate on their behalf, and the Memorandum embodying his proposals was submitted to the Banque de l'Indo Chine and received their approval on the 4th June.
It was further agreed between the two Banks that, should they so desire, the German Group who were joint contractors with the Chinese Central Railway Company for the Tientsin Pukow Loan, would be admitted to participation later on. Our latest information, however, is to the effect that the Germans are unlikely to avail themselves of this offer.
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