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Statement.
Received in Tien-tsin: 138,289'64 dollars at 6995,419-85 Hongping taels at 104-8 = 100,000 Shanghai taels.
Peking, October 17, 1917.
(Seal of Ministry of Finance.)
LIANG CHI CHAO, Minister of Finance.
[This Document is the Property of His Britannic Majesty's Government.]
CHINESE LOANS AND CONCESSIONS.
CONFIDENTIAL.
[234716]
No. 1.
[December 11.]
SECTION 4.
Enclosure 3 in No. 1.
Form of Receipt for International Banking Corporation, Banque belge pour l'Etranger, and Chartered Bank.
RECEIVED from the
Receipt.
Bank, as per statement below, the sum of 100,000 taels, Shanghai currency, repayable in Shanghai in five instalments of 20,000 Shanghai taels, with interest accrued at the rate of 7 per cent. per annum from the date of this receipt to the date of each repayment, which the Ministry of Finance has authorised the Hong Kong and Shanghai Banking Corporation, the Banque de l'Indo- Chine, the Russo-Asiatic Bank, and Yokohama Specie Bank jointly to pay to the above bank from the surplus salt revenues to be released in the months of April, May, June, July, and August 1918 respectively, or, in the event of the said releases of salt revenue being insufficient, from the release or releases of salt revenue next following, until the entire sum of 100,000 Shanghai taels with accrued interest has been repaid,"
Sir J. Jordon to Mr. Balfour.-Received December 11.) (No. 336.)
Peking, October 23, 1917. Sir,
1 HAVE the honour to report that as a result of the damage wrought by the floods at Tien-tsin the Ministry of Finance recently applied to all the foreign banks in Peking for assistance in the form of an advance for the purpose of relief work.
It was, I understand, originally estimated that 6,000,000 dollars would be required. The proposal has now materialised in a modified form. The amount of the advance is 700,000 taels, and has been put up by seven foreign banks in equal shares of 100,000 taels each. The lending banks are the Hong Kong and Shanghai Bank, the Banque de l'Indo-Chine, the Russo-Asiatic Bank, the Yokohama Specie Bank, the International Banking Corporation, the Banque belge pour l'Etranger, and the Chartered Bank. The advance is secured on the surplus salt releases of the months of April, May, June, July, and August 1918, and each of the lending bauks is to receive 20,000 dollars in each of those months plus accrued interest at the rate of 7 per cent. A copy of the letter addressed by the Minister of Finance to the group banks recording the terms of the transaction is enclosed.
For purposes of record I further enclose a copy of the form of receipt given to the Hong Kong and Shanghai Bank and a copy of the form given to the three non-group
banks.
I have, &c.
J. N. JORDAN.
Statement.
Received in
dollars or
taela at
Shanghai taels.
- 100,000
LIANG CH'I CH'AO.
Peking, October 17, 1917.
(Seal of Ministry of Finance.)
Enclosure 1 in No. 1.
Liang Ch'i Ch'ao to Foreign Banks in Peking.
Peking, October 17, 1917. Gentlemen,
WITH reference to the advance of 700,000 Shanghai taels jointly made this day by your banks, the International Banking Corporation, Banque belge pour l'Étranger, and Chartered Bank of India, Australia, and China, in equal shares of 100,000 Shanghai taels, are repayable in Shanghai in five instalments of 20,000 taels from each bank, with interest as accrued at the rate of 7 per cent. per annum, you are hereby authorised to, deduct and pay to the International Banking Corporation, the Banque belge pour l'Étranger, and Chartered Bank of India, Australia, and China, from the surplus salt revenues to be released in the months of April, May, June, July, and August 1918 (or, in the event of said releases being insufficient, from the release or releases of salt revenue next following), the instalments of repayment with accrued interest due to the said banks in terms of the receipts given this day.
I bave, &c.
Enclosure 2 in No. 1.
Receipt.
LIANG CHI CH'AO.
RECEIVED from the Hong Kong and Shanghai Banking Corporation, as per statement below, the sum of 100,000 taels, Shanghai currency, repayable in Shanghai in five instalments of 20,000 Shanghai taels, with interest accrued at the rate of 7 per cent. per annum from the date of this receipt to the date of each repayment, which the said bank is hereby authorised to deduct from its share of surplus salt revenues to be released in the months of April, May, June, July, and August 1918 respectively, or, in the event of the said releases of salt revenue being insufficient, from the release or releases of salt revenue next following, until the entire sum of 100,000 Shanghai taels with accrued interest has been repaid.
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