Translation.
A.L.B.
Note:
H.M.
From
WAI CHIAO
to
XXXXXXXXXX AMBASSADOR
XXXXX NANKING.
15th August
15
5
(received 19th August, 19
sir,
Your
I have the honour to acknowledge the receipt of
Excellency's Not · of 18th July drawing my attention to the fact that the default in the payment of princisal
and interest on the Canton-Kowloon Failway Loan of 1907
had now reached a total of £1,414,876 -16-8d and request- ing that effective measures should at once be taken by the competent departments of the Chinese Government to prevent
a further increase in the amount in arrears, and, if the earnings of the railway were insufficient, to make payment from other sources of revenue.
In reply I have the honour to inform Your Excellency that I duly referred the matter to the Ministry of Railways and am now in receipt of the following reply: -
"As regards the principal and interest payable on the Canton-Kowloon Railway, the Railway owing to shortage of revenues is not able to meet the payments, the
finances of this Ministry are also in a difficult state,
and there is no other source of revenue from which may-
ment can be made instead; for the time being there-
fore the service of the loan cannot be met. This
Ministry is already taking effective steps to sake plane
for the readjustment of the loan, and as soon as a satisfactory scheme is definitely drawn up, we shall at
once discuss the matter with the creditors with a view
to taking the necessary action".
I avail myself of this opportunity to renew to Your Excellency the assurance of my highest consideration.
Stamp Signature of WANG CHING-VEI.