453
A clause which in the event of the Corporation failing to raise the necessary funds to begin the construction of the Chinese section of the railway within one year of the date of the new agreement, or in the event of their failing to complete the section within three years of that date will debar the Corporation from raising any objection to the cancelling of the concession by the Chinese Government.
(c) Before the agreement is finally signed it will be necessary that it shall be accepted by the Legislative Council of Hong Kong, inasmuch as the revenues of that Colony will be largely pledged for the construction of the part of the railway which will fall within Hong Kong territory.
(d) It still appears to the Secretary of State that the proposal made in my previous letter to lease the line when constructed to the Corporation, or to a railway company promoted
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453
clause which in the event of the Corporation
failing to raise the necessary funds und to
begin the construction of the Chinese auction
of the railway within one year of the dute
of the new agreement, or in the event of their
failing to complete the section within three
years of that date will debar the Corporation
from raising any objection to the cancelling
of the concession by the Chinese Government
(c) Before the agreement is finally
signed it will be necessary that it shall be
accepted by the Legislative Council of Hong
Kong, inasmuch as the revenues of that Colony
will be largely pledged for the construction
of the part of the railway which will full
within Hong Kong territory.
(d) It still appeurs to the Secretary
of State that the proposal made in my previous
letter to lease the line when constructed to
the Corporation, or to a railway company
promoted
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