PUBLIC RECORD OFFICE
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C.O. 882
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PUBLIC RECORD OFFICE, LONDON
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responsible for the railway, the agreement should refer to the representative of the Chinese Government; this because of certain administrative changes impending in the Chinese Government's system.
It was agreed that, in order to submit a complete draft, finally corrected, at next meeting, the Canton Viceroy's delegates would go over the text again with Mr. Bland.
Referring to the question of price, Mr. Bland submitted a telegram, received from the Directors of the Corporation, in which it was stipulated that the loan should be issued within 30 days of receipt of the documents in London and under con- ditions similar to those of Clause 12 of the Northern Railway Loan Agreement. Mr. Bland was of opinion that the Board, as the result of further representations, might agree to the option of issue at the fixed commission of six points over a longer period than that above-named, and suggested the possibility of compromise on the understanding that no extension of the time limit be stipulated; he had been given to understand that this latter condition could, under no circumstances, be included. He took occasion also to point out that the uncertainty (entailing serious risk of a considerable fall in Chinese securities) arising out of the present position of the Shanghai-Nanking Railway Bond Issue, must of necessity be removed before the Board could reasonably be expected to incur the further responsibility of issuing the Canton-Kowloon Railway Loan; he hoped, therefore, that the decision in this matter might no longer be postponed.
His Excellency Tang Shao-Yi stated that the authority to issue, the bonds would be given in five days, but that the Chinese Government would expect to receive 96, this being the rate mentioned in his memorial on the subject. Mr. Bland replied that this rate was named when the loan was quoted at over 103, excluding interest; the present price, received by wire to-day being 1003, and the issue could not, therefore, be made at more than 99 to 100. To expect the price to be 96 was asking an impossibility.
It was agreed that a meeting would be held on Wednesday next at 2.30 p.m. to consider the Corporation's final terms as to the period of option for the Canton- Kowloon Railway Loan issue, at which meeting the completely revised draft agree- ment would be submitted in English and Chinese.
In conclusion, Mr. Bland suggested that the wording of Article 18 was vague and likely to lead to complications hereafter, owing to the difficulty of defining the actual inter-State regulations; he suggested an amendment to the text, which was agreed to, omitting all reference to this condition.
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The meeting then adjourned.
(Secret.)
No. 322.
J. O. P. BLAND.
GOVERNOR SIR M. NATHAN to THE EARL OF ELGIN. (Received January 12, 1907.)
MY LORD,
Government House, Hong Kong, December 14, 1906. IN continuation of my Secret despatch of the 1st November, 1906,* dealing with the project to connect Canton with Whampoa by a railway, I have the honour to enclose, for Your Lordship's information, copies of despatches, with enclosures (not Chinese newspapers), addressed to His Britannic Majesty's Minister at Peking.
I have, &c.,
(Secret.)
SIR,
Enclosure 1 in No. 322.
M. NATHAN,
Governor, &c.
Government House, Hong Kong, November 13, 1906.
IN continuation of His Excellency the Governor's Secret despatch of the 1st November, 1906, dealing with the Chinese project to connect Canton with
• No. 317.
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Whampoa by a railway, I have the honour to enclose, for Your Excellency's informa- tion, a copy of the issue of the " Wai San Yat Po" of the 5th instant, together with a translation of an article in this paper on the subject of this railway scheme.
I have, &c., His Excellency
RICHARD PONSONBY,
Private Secretary.
Sir John Jordan, K.C.M.G.,
&c.,
(Translation.)
&c.,
&c.
"WAI SAN YAT PO" of November 5, 1906.
At pre-
Scheme of inviting people to take shares in the Canton-Whampoa Railway.
The Canton-Whampoa Railway is to be constructed by the money subscribed for shares. His Excellency Cheung Pat-sz has undertaken to invite people to take up shares. No pecuniary aid of the Government is required. He has drawn up 21 rules which have been sent to the Board of Trade to be kept on record. sent the expenditure for the commencement of the work is heavy, and a close estimate of the cost of land, material, &c., shows that about 800,000 to 900,000 taels are required. His Excellency Cheung, Lord High Chamberlain, will advance from 100,000 to 200,000 taels to get the work started, and he will offer the shares to be taken up in the south at 100 tàels each. The number of shares is fixed at 8,000, and Chinese subscriptions only are to be accepted.
As to the survey and scheme of construction of the whole line, the rate of Custom duties and the track for the railway, although a general plan has been decided upon, a great many things have not been discussed, and when the new Viceroy arrives, the whole scheme will be discussed and carried out.
It was originally decided that the work of opening Whampoa as a commercia spot should be included in the Canton-Whampoa Railway. It has been time after time surveyed by foreign surveyors, all of whom have been of opinion that it would be a suitable spot, being on the route for vessels trading between Canton and Hong Kong, and there being an extensive area and deep water-more than ten fathoms in depth. If wharves and godowns are erected, it will be proved suitable port for trading vessels of all nations. A clear and simple plan has been made and sent to the Viceroy, who will submit it to the Board of Trade for consideration. nearly all the shares have been taken up, a decision will be arrived at as to whether both schemes shall be carried out simultaneously or one before the other.
(Secret.)
Enclosure 2 in No. 322.
When
Government House, Hong Kong, November 16, 1906.
SIR,
In continuation of my Secret despatch of the 13th instant, dealing with the Chinese project to connect Canton with Whampoa by a railway, I have the honour to enclose, for Your Excellency's information, a copy of the issue of the "
Sheung Po of the 8th instant, together with a translation of an article in this paper on the subject of this railway scheme.
His Excellency
Sir John Jordan, K.C.M.G.,
&c.,
(Translation.)
&c.,
&c.
I have, &c.,
RICHARD PONSONBY,
Private Secretary.
EXTRACT from the "SHEUNG Po" of the 8th November, 1906. Further news concerning Canton-Whampoa Railway and Whampoa as a port.
Much information regarding the construction of the Canton-Whampoa Railway and the opening of Whampoa as a port is to be found in our previous issues. We now learn that both the Chief Engineer, who is an American, and the Assistant Engineer, who is a European, have arrived at Canton. A survey for the line of the railway and of the waterways has been completed. The anchorage decided upon measures over 10 li, and the shallowest part of it even during ebb tide is 20 feet deep. Tens of vessels can be at anchor there; and it is a suitable spot for navigation. It is proposed to build the railway before the opening of Whampoa as a commercial