[This Document is the Property of His Britannic Majesty's Governm
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Rec 28 JAN 10
CHINA RAILWAYS.
CONFIDENTIAL.
[46748]
No. 1.
[December 28.]
SECTION 5.
Sir J. Jordan to Sir Edward Grey.-(Received December 28.)
(No. 408.) Sir,
Peking, November 10, 1909. WITH reference to my despatch No. 50 of the 3rd February last, I have the honour to transmit to you herewith copy of a further despatch from His Majesty's consul at Chefoo respecting the projected railway from Chefoo to Weihsien.
The original concession for this line having been cancelled, the authorities are endeavouring to enlist local support for the formation of a company to construct the railway, and it is proposed that the capital provided at the outset should amount to 2,000,000 dollars, of which sum half has already been guaranteed by twenty members of the Chamber of Commerce, and the balance is to be offered to public subscription.
I have, &c.
J. N. JORDAN.
(No. 14.) Sir,
Inclosure in No. 1.
Consul Mortimore to Sir J. Jordan.
Chefoo, November 3, 1909.
I HAVE the honour to report that the Chefoo Railway scheine is now being energetically taken up here at the instance of the governor, who has been informed by the Board of Finance that the original concession granted by the Board of Commerce to Chiao Tê-han has been definitely cancelled on the ground of lack of financial support. The governor has accordingly instructed the taotai to ascertain from the Chamber of Commerce the financial aspect of the present scheme, and to report to him thereon, and, if satisfactory, he promises to appoint a deputy for the purpose of obtaining official sanction for the project. The taotai has urged the Chamber of Commerce to consider the question without loss of time, as he wishes to proceed to Chinan-fu at an early date, and is anxious to be able to make a personal report on the matter to the governor. The Chamber of Commerce accordingly called a meeting on Sunday, the 31st October, to discuss the question of finance and to elect the necessary officers of the company.
At this meeting, which was very fully attended, it was resolved that the initial capital of the company should be 2,000,000 dollars, of which amount 1,000,000 dollars was at onco guaranteed by twenty of the members present; the balance of 1,000,000 dollars is to be offered for public subscription in the form of 5-dollar shares. The capital is to be augmented as occasion may require. The line is in the first instance to be constructed to Iluang-hsien only, with a view to its eventual extension to Weihsien if circumstances permit. The bankers of the concern are to be the Imperial Bank of China (Ta Ch'ing), and the company's temporary offices and allotment bureau are to be opened in premises adjoining the Chamber of Commerce. The prospectus, rules, and regulations are to be drafted and submitted to a meeting convened for Sunday next, the 7th November. There was no election of officers at the meeting of the 31st October, but it will no doubt take place on the 7th November.
I have, &c.
R. I. MORTIMORE.
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