This Document is the Property of His Britanic Majesty's Government.]
( CHINA RAILWAYS.
CONFIDENTIAL.
[14516]
No. 1.
Kree R18 MAY 11
[April 19.]
SECTION 2.
(No. 70.)
Sir Edward Grey to Sir J. Jordan,
(Telegraphic.) R
Foreign Office, April 19, 1911. YOUR telegram No. 99 of 13th April: Hukuang loan. Are you satisfied that acquiescence in Chinese demand to deposit half of the proceeds of the loan during construction of railway with native banks will not involve parting with all control over loan funds, which forms principle of inter-bank agreement? Hong Kong and Shanghai Bank, in view of your opinion and that of other Ministers and Peking representatives of four groups, have telegraphed recommending concession. But they remain unconvinced by arguments adduced, nor do they consider danger of competition very great, provided four Powers act in concert. involved appears to be rather one of control than of security,
Question
[1985 t-2]
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