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Enclosure No.2 in Mr Consul General Frager's General Series, 180
No.82 of December 26, 1908.
Exchange of telegrams between Shanghai Munanese and una
Railway Co.: précis of..
anan
27
JAN 20 1909.
The Universal Gazette of December 19th publishes tol-
ograms exchanged between the Hunanese in Shanghai and the
Hunan Railway Co. on the suhject of the reported foreign
loan which the former think most dangerous. They are sure
share subscriptions will come in freely if Fr Bland's
tempting is not listened to. The Co. replies that there
is no option but to raise a loan for both Hupei and unan;
that the intention is not to pledge the line and to borrow
only as money is actually needed, thus suring interest,
and gradually to hypothecate the rice md salt rutes. H.R.
Chang's telegram declares that the local finances and the
railway righɩa will in no way be prejudiced and no other
embarrassment will result. The only course is to raise as
many shares as possiblo as each shure got reduces the
amount to be borrowed. The Co. has sent agents everywhere
to encourage subscriptions so that the railway may be
speedily completed.
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