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tainly not sufficiently stable to justify official support for
financial negotiations of considerable munitude which would
necessarily be extended over a considerable period and which could
not be condicted without publicity. The ingvitable disclosure of
the project could not fali to prejudice the position of the British
group in regard to the Consortium negotiations and 1 do not think
that the wider British interest involved in the Consoritum pro-
grammu could justifžably be subordinated to a private int arrost 20
long as there is any hope that the completion of the line will be
und ertaken under the sepices of the Consortium.
in these circumstances it appears unner estuary to discuss
in detail the feasibility of acquiring from the prasant Chinese
Company the portion of the line already in operatioh in the Canton
Province, or the financial basis of the proposed transaction, more
especially in view of the fact that it has always been understood
that the Central Government would thesalves buy out the provinsial
company with a view to the whole line from Bunkow to Canton being
consolidated as a national railway,
it in unfortunat a that Mesura. . R. Loxley and Company
did not consult Kis Majesty's Consul General at Canton at an ear-
lier stage, but the political developments in Canton and the fi-
nancial discussions in progrese betwem the Group Banks now ap-
·
1: