PUBLIC RECORD OFFICE
Reference :-
TLC.O. 882
חות חזון וח
6
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-
COPYRIGHT PHOTOGRAPH-NOT TO
PUBLIC RECORD OFFICE, LONDON
and His Majesty the Emperor of China has issued a Decree approving of the Agree- ment being made by the Viceroys of the Hu Kuang and Liang Kuang and the Governor of Hunan for themselves and their successors in office.
Whereas the Viceroy is charged with the settlement of all questions concerning the Canton-Hankow Railway and for this purpose is in need of funds to redeem the Concession for the building thereof heretofore granted to an American Company, and whereas the Viceroy has officially applied to the Government of His Britannic Majesty for financial assistance to buy back the shares in the said American Company and to perform the said special charge laid upon His Excellency and whereas the Government of Hong Kong has agreed at the instance of the Government of His Britannic Majesty to afford His Excellency the Viceroy the assistance applied for. It is now agreed as follows:——
1. The Government of Hong Kong agrees to lend to the three Provinces of Hupei, Hunan and Kuangtung the sum of one million one hundred thousand pounds sterling payable as set forth in Clause 7 below. The exact division of the responsibility for this sum will be settled and announced later.
2. The term of the Loan shall be ten years, calculated from the sixth day of October, 1905, and repayment of principal shall be made by ten equal instalments of Pounds one hundred and ten thousand (£110,000) each, commencing on the sixth day of October, 1906, provided that at any time after the payment of the fifth annual instalment the three Provinces shall be at liberty, on giving six calendar months' notice beforehand to pay off the whole amount of the principal then outstanding with interest up to the date of such paying off only and thereupon this Agreement shall cease and determine.
3. Interest on the loan shall be paid at the rate of four and a half per cent. calculated half yearly on the amount of principal from time to time outstanding.
4. All payments of interest and repayments of principal shall be made in accordance with the amounts and dates of the schedule attached to this Agreement to the Treasurer of Hong Kong at Hong Kong in sterling sight drafts or in the equi- valent of sterling amount at the option of the Government of Hong Kong.
1
5. This Loan shall be secured by a first mortgage on the Opium Revenues of the three Provinces of Hupei, Hunan and Kuangtung and shall as regards security for principal and interest rank before any loan hereafter raised on the security of those revenues and the priority of this Loan shall be expressly stated in any agree- ment for such subsequent loan secured wholly or in part on the said Opium Revenues. Should hereafter the Opium Revenues of the three Provinces not suffice to meet payments the Viceroy of Hu Kuang may agree with the Hunan and Kuangtung Governments which province's quota is insufficient and such province shall supple- ment the above Opium Revenues by other revenues for the service of the present Loan; but in case of default with regard to payments of interest or repayment of principal of the present Loan the Viceroy may be called upon by His Britannic Majesty's Government to agree with Kuangtung and Hunan which province is in default, and that province shall appropriate and place under administration of Imperial Maritime Customs further approved revenues as its security.
6. This Loan shall be further secured by deposit with His Britannic Majesty's Consul-General at Hankow of sterling likin yearly Bonds equal in value altogether to the total amount of Loan principal and interest scaled by the Viceroy of the Hu Kuang Provinces and countersigned by the Foreign Commissioner of Customs at Hankow. In the event of the money to meet a payment of interest or instalment of principal not being handed to the Hong Kong Treasurer at Hong Kong on due date these likin Bonds shall become available for the payment of likin in the Hu- kuang Provinces and Kuangtung; and the provincial authorities shall be instructed. accordingly.
7. Of the proceeds of this Loan the Government of Hong Kong on the 6th day of October, 1905, shall remit £400,000 to the Hong Kong and Shanghai Bank, Hankow, to the credit of the Viceroy, Chang, and shall on the said 6th day of October, 1905, also remit £700,000 to New York to the credit of the Chinese Minister His Excellency Liang; and the Hong Kong Government may require from the Viceroy through His Britannic Majesty's Consul-General at Hankow such evidence as he may deem satisfactory of the due employment of the funds for the object stated, 8. Before the execution of this Agreement the Viceroy has reported to the Throne and obtained an Imperial Decree approving and sanctioning this Loan Agreement which Decree will be communicated to His Britannic Majesty's Minister at Peking by the Wai Wu Pu officially.
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9. The Viceroy has by telegraph consulted the Viceroy of the Liangkuang who has replied consenting to the pledging of the Opium Revenues of Kuangtung and to the terms of this Agreement so far as they affect that Province.
10. This Agreement is executed in six parts in English and Chinese, one copy to be retained by the Hu Kuang Viceroy, one copy by the Canton Viceroy, one copy by the Hunan Governor, one copy by the Government of Hong Kong, one copy by His Britannic Majesty's Minister at Peking, and one copy by His Britannic Majesty's Consul-General at Hankow.
In the event of any doubt arising as to the interpretation of the Contract the English text shall rule.
Signed at Wuchang by the Contracting Parties this eleventh day of the eighth moon of the year thirty one of the Reign Kuang Heir being the ninth day of September, 1905. Western Calendar.
His Britannic Majesty's Consul-General, Hankow, For the Government of Hong Kong.
E. H. FRASER,
British Consular Seal.
Viceroy. (Signed in Chinese.)
Viceroy's Seal
SCHEDULE OF PAYMENTS OF INTEREST AND REPAYMENTS OF PRINCIPAL.
1910
Year.
Date.
CH
Interest.
Principal.
Total Payment.
£
£
£
1906
1907
April 6th
October 6th
April 6th
October 6th
24,750
24,750
110,000
24,750
134,750
***
22,275
22,275
110,000
22,275
132,275
April 6th
19,800
19,800
1908
...
110,000
October 6th
19,800
129,800
April 6th
17,325
17,325
1909
...
110,000
-
October 6th
April 6th
October 6th
April 6th
October 6th
April 6th
17,325
127,325
+
14,850
14,850
110,000
14,850
124,850
F
12,375
12,375
110,000
BOD
12,375
122,375
9,900
9,900
110,000
October 6th
***
9,900
119,900
1913
[ April 6th
October 6th
-
7,425
7,425
110,000
7,425
117,425
April 6th
4,950
1,950
1914
110,000
October 6th
4,950
114,950
April 6th
2,175
2,475
1915
110,000
October 6th
2,475
112,475
272,250
1,100,000
1,372,250
1911
1912
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