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J
morated by name,
230
For this concession, the British syndicate agreed to pay the rovincial government the sum of $1,000,000 (silver of course).
is million dollars is to bear six per cent interest to the orpany, and capital and interest are to be paid back to the ompany by the provincial government out of the dividenda (if any) The nature of these 'dividends' is set forth in it is to receive, In article which should receive the careful attention of promotors bisewhere as a model of the possibilities of exploiting contracts. The ten million capital is divided equally into "A" shares and
* shares. The "A" shares go unreservedly to the directors of the bompany and three millions of the "B" shares are to be allotted by
The other two
the directors of the company at their discretion,
-
million are again divided into equal portions, one portion repre- senting the sun advanced by the company to the province and to be
- one-tenth paid back as just specified, while the other million
is to be a trust fund the dividends of of the capitalization which are to go for the "Benefit of the poor people of the
But before provines” and for an educational fund for the province, any dividends are paid upon the "B" shares, eight per cent dividends are to be laid upon the "A" shares and a dollar a ton
These having any familiarity with the royalty upon all coal mined,
com) business with its usual royalty of about ten cents a ton can eneily onlculate the splendid prospects of the "poor people" and the schools, prospects which represent the total return to the
The contract also previnces of a concession of untold worth, guarantees to the company the assistance of the provincial government in expropriating the omers of all coal mines which
These have been granted to other companies but not yet worked, technical details make dry reading, but they throw light upon the spirit with which the British company underteck its predatory negotiations with a government renounced by the people it professed te govern, In comparison with the relatively orude methode of Japan in Shantung, they show the advantagea of wide business
experience,..............................