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The advisability of dupliesting the thefoo-Shang-hai Cable has also been under consideration by the Companies, the administration, mid the latter recently advised the Companies that they had contracted with a Japanese firm in Yokohama for the manufacture of a Shanghai Chafʊe cable on their behalf, They also asked for the Companies' assistance in the testing, transport and laying of the cable,
When the German Govt, cable between Shanghai Kisochow and Chefoo was able to transmit the traffic during interrup- tions of the existing cable, the need for a duplicate commun 1. — cation was not seriously felt, but now that the German oɛble is no longer available, a second cable is really required to moet Traffic requirements,
The administration have also proposed that the Companies should grant the Chinese Govt. a further loan of at least £1,500,000 at 5% interest repayable by instalments spread over
In consideration of this financial assis- a period of years, tanos, the Chinese Govt. would be prepared to extend the Administration's agreements with the companies, and the latter's monopoly in China for an additional twenty years beyond 1980, when they would otherwise expire,
The Chinese dovt, appear to have no tangible security to offer to the Companies for the proposed loan, as the whole of their telegraph reveme is already fully mortgaged; first to the Companies in respect of the international cables supplied. by them in the North of China during the Boxer troubles, and the subsequent loan of £500,000 sade to the Chinese Govt. with the approval of the British Govt, in 1911, and secondly to the Japanese who have recently granted to the Chinese dovt, a further loan of 15,000,000 yen and agreed to the period of
repaying/