15
PRINTE
EASTERN
No. 88
COLON
C.0. THE BRITISH & CHINESE CORPORATION LIMITED.
CANTON TO HONGKONG RAILWAY.
car 911 439
Being invited by the Colonial Office to make a proposal the British and Chinese Corporation suggested that they, Corporation, should form a British Company to hold a Concession from the Colonial Government of Hongkong to construct and work the Colonial portion of the Railway and to hold a Concession from the Chinese to construct and work the Chinese portion of the Railway, the Concession of the Chinese portion being given in exchange for the surrender of the present (guaranteed) Loan Agreement held from the Chinese by the Corporation.
The proposal further suggested that it would be necessary for the Colonial Government to guarantee interest on the capital of the Company holding the two Concessions.
The Colonial Office replied that they were not prepared to give such a guarantee and previously they expressed the opinion that the Corporation should seriously consider before surrendering the (guaranteed) Loan Agreement which the Corporation holds from the Chinese Government.
The Colonial Office added that they were prepared to finance and construct their portion of the Railway and then lease it to the British and Chinese Corporation upon terms to be arranged.
The consequential position is as follows:-
(1) The Corporation must float a guaranteed Chinese Loan for the construction of the Railway from Canton to the Kowloon frontier.
(2) To make the communication through to Hongkong the
15
PRINTE
EASTERN
No. 88
COLON
C.0.
THE BRITISH & CHINESE CORPORATION LIMITED.5
CANTON TO HONGKONG RAILWAY.
car
911
439
Beding invited by the Colonial Office to make a proposal
the 1305 the British and Chinese Corporation suggested that they,
Corporation, should form a British Company to hold a Concession from the Colonial Government of Hongkong to construct and work the Colonial portion of the Railway and to hold a Concession from the Chinese to construct and work the Chinese portion of the Railway, the Concession of the Chinese portion being given in exchange for the surrender of the present (guaranteed) Loan
The propo- Agreement held from the Chinese by the Corporation. sal further suggested that it would be necessary for the Colonial Government to guarantee interest on the capital of
the Company holding the two Concessions.
do
The Colonial Office replied that they were not prepared to give such a guarantee and previously they expressed the opinion that the Corporation should seriously consider before surrendering the (guaranteed) Loan Agreement which the Corporation holds from the Chinese Government.
The Colonial Office added that they were prepared to
finance and construct their portion of the Railway and then
lease it to the British and Chinese Corporation upon terms to
be arranged.
The consequential position is as follows:-
(1)
The Corporation must float a guaranteed Chinese Loan for the construction of the Railway from Canton to the Kowloon
frontier.
(2) To make the communication through to Hongkong the
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