35
the friendly relations and economic bonds between the two countries on the basis of the full observation of the rights and interests of cach other, have agreed as follows:-
ARTICLE I.
After the Japanese armed forces are driven out of the Three Eastern Provinces, the main trunk lines of the Chinese Eastern Railway and the South Manchurian Railway from Manchuli to Suifonho and from Harbin to Dairen and Port Arthur united into one railway under the name of "Chinese Changchun Railway" shall be in joint ownership of the Republic of China and the U.S.S.R.
Joint ownership and operation shall apply only to those lands acquired and railway auxiliary lines built by the Chinese Eastern Railway during the time of Russian and joint Sino-Soviet administration and by the South Manchurian Railway during the time of Russian administration and which are directly necessary for the above two railways and to the subsidiary enterprises built during the said poriods and directly serving the above two railways. All the other branch railway lines, subsidiary enterprises and lands shall be in the completo ownership of the Chinese Government.
The joint operation of the aforementioned railway shall be undertaken by a single management under Chinese sovereignty and as a purely commercial transportation enterprise.
ARTICLE II.
The high contracting parties agree that their joint ownership of the railway shall be in equal shares and shall not be alicnable in whole or in part.
ARTICLE III.
The high contracting parties agree that for the joint operation of the said railway the Sino-Soviet Company of the Chinese Changchun Railway shall be formed. The company shall have a Board of Directors to be composed of ten members, of whom five shall be appointed by the Chinese Government and five by the Soviet Government. The Board of Directors shall be in Changchun.
ARTICLE IV.
The Chinese Government shall appoint one of the Chine se directors as President of the Board of Directors and one as the Assistant President. The Soviet Government shall appoint one of the Soviet directors as Vice-President of the Board of Directors, and one as the Assistant Vice-President. When questions are decided by the Board, the vote of the President of the Board of Directors shall be counted as two votes. Seven persons shall constitute a quorum of the Board.
Important questions on which the Board of Directors cannot reach an agreement shall be submitted to the Governments of the contracting parties for consideration and settlement in an equitable and friendly spirit.
/ ARTICLE V.
Page 110Page 111