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The Hongkong and Shanghai Banking Corporation, in Hongkong, on the one part, and the Deutsch-Asiatische Bank in Shanghai and the German Banks and Banking Houses connected with her, on the other part, agree on the following items for the purpose of joint action with regard to Chinese business.

$ 1.

The agreement will be made by the London Office of the Hongkong and Shanghai Banking Corporation on behalf of its head office in Hongkong.

The German Syndicate for Chinese business headed by the Deutsch-Asiatische Bank comprises the following firms, viz

The Direction der Disconto-Gesellschaft.

S. Bleichröder,

The Deutsche Bank,

The Berliner Handels-Gesellschaft,

The Bauk für Handel und Industrie,

Robert Warschauer & Co.,

Mendelssohn & Co.,

The Dresdner Bank,

The A. Schaaffhausen'sche Bankverein,

Born & Busse,

Jacob S. H. Stern in Frankfort on the Main,

Sal. Oppenheim, jun & Co., Cologne,

The Norddeutsche Bank in Hamburg,

The Deutsch-Asiatische Bank in Shanghai.

Berlin.

On behalf of this Syndicate the agreement will be made by the Deutsch- Asiatische Bank in Berlin and by the Direction der Disconto-Gesellschaft, the Deutsche Bank, the Berliner Handels-Gesellschaft, and Messrs. S. Bleichröder and Robert Warschauer & Co. in the name of the other members of the Syndicate.

The manager of the Dentsch-Asiatische Bank in Berlin is anthorised by the German Syndicate to act under this agreement jointly with the London office of the Hongkong and Shanghai Banking Corporation.

§ 2.

The agreement is made for all loans and advances, which may be concluded with the Chinese Imperial Government or with any of the provinces forming part of the Chinese Empire.

Any business of that kind which may be offered to either of the contracting parties, must be dealt with jointly by them in accordance with the stipulation of this agreement; and any loans or advances to Government departments and Companies and having Chinese Imperial or provincial Government guarantees, will have to be treated in the same manner.

As regards joint action in respect of financial operations with Railway or other companies not having such guarantees, special agreements will have to be made in each separate case.

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