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This Document is the Property of His Britannic Majesty's Government.]
CHINA RAILWAYS.
CONFIDENTIAL.
C.O. 12195
53
[March 16.]
RECE
SECTION 1.
Rege APR OC
No. 1.
[10241]
Minutes of Meeting held at 3, Lombard Street, London, on March 12.—(Communicated by Mr. C. S. Addis, March 16, 1909.)
THE following gentlemen were present:-
Mr. W. Keswick and Representing the British and Chinese Corporation Mr. C. S. Addis J (Limited).
M. Simon and
M. Ullmann
Herr Urbig,
Representing the French group.
Herr Erich, and > Representing the German group.
Herr Rehders
Mr. Carl Meyer
Mr. G. Jamieson and Representing the Chinese Central Railways (Limited).
Mr. W. Keswick took the Chair.
The Chairman having called upon Mr. Addis as having conducted the negotia- tions in Berlin and Paris with the German and French groups to make a short statement in regard to the present position, Mr. Addis informed the meeting that immediately on the signature of the terms arranged between the British, French, and German groups at Berlin and Paris, the British and French groups had cabled to their representatives in China withdrawing their offers in regard to the terms of the Hankow--Canton Railway Loan, and that they had been informed that the German group had not withdrawn their offer of Tien-tsin-Pukow terms, which had conse- quently been accepted by the Chinese Government, and pointed out that, in the opinion of the Corporation, this was contrary to clause 6 of those terms. M. Simon, on behalf of the French group, associated himself with the view expressed by Mr. Addis. Herr Urbig declared that the German group was of opinion that it was entitled to make au offer, and that this was expressed in the telegrams exchanged with the Hong Kong Bank. If the English and French groups were not of this view there existed a difference of opinion. In so far as an Agreement between the three groups can be arrived at, the German group will do its best to improve the terms in accordance with the conditions which the three groups declared to be necessary. The German group hopes that the English and French groups will give their support to this end. Pending the coming to of an Agreement the German group will not take any steps to alter the status quo,
The Corporation and Chinese Central Railway and the French group stated that it must be understood that the modification of the preliminary Agreement in the sense indicated was an absolutely essential condition precedent to their acceptance of the terms of this Agreement, and on this understanding it was decided to proceed with the consideration of the draft Agreement which had been prepared and was laid before the meeting.
The draft Agreement after having been read was considered clause by clause and agreed, subject to the following points :-
:-
(a.) The insertion of an additional clause that all parties to the Agreement should bind themselves not to be interested in any competing business within the scope of the Agreement without disclosure of such interest, and the consent of the other parties thereto. This was agreed to in principle. The British and Chinese Corporation having communicated to the meeting their Agreement with the Hong Kong and Shanghae Banking Corporation of the 80th June, 1908, it is understood that the present Agreement is conditional on the continued adhesion of the bank to the said Agreement and terminates automatically the moment the said Agreement is denounced.
(b) The insertion of a clause insuring the internationalization of future loans. The Corporation pointed out that this was a matter for the decision of the Stock
[2193 q-1]
B
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