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PARAPHRASE of telegram No. 356 to Mr Hubbard, Faking,
November 4th, 1920.
264
Eastern Extension and Great Northern Telegraph
Company have been approached on behalf of Chinese Telegraph
Administration by Mr Eriksen, who is now in London, on
following lines.
1. That a triplicate oable between Shanghai and Hongkong
shall be laid down.
2.
This cable to land at Swatow touching at Foochow and
Amoy on the way,
3.
Advisability of duplicating Shanghai-Chefoo cable.
Japanese firm at Yokohama have already contracted to
Banufacture such cable for Administration and assistance
in testing and laying it has been asked for from Companies.
In consideration of extension of Companies' present
4.
monopoly for another 20 years beyond 1930 a loan to be
issued to Chinese Goverment of £1,500,000 at 5%.
My views are asked by Eastern Telegraph Company who
point out that China has already defaulted on June instalments
of their 1911 loan and that she can offer no new tangible
security.
Information as follows has been given the Company.
1. Improved cable communication is to be encouraged on
general grounds.
2.
It is felt by His Majesty's Government that loan falls within scope of Consortium and that in the first instance
it should be offered to them. A suggestion was made that
Company should get in touch with Sir C. Addis.
Company are anxious to know before they go any further
what attitude we take up towards extension of their monopoly
which/