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CA
36010
Paraphrase
Cof
PRINTED FOR
USE
EASTERN
88.
COLONIAL
OFFICE
ON
C.O.
36516
484
PVC 13 001 951
Telegram Governor Sir Matthew Nathan to Mr.Lyttelton. (Received, Colonial Office, 12.22 p.m.13th October,1905).
Referring to your telegram of 11th instant. Today a Railways Loan Ordinance was passed for rais ing sum of £2,000,000 to defray cost of railway from
Kowloon and for other railway purposes. It authorizes
Governor borrowing as occasion requires sums not ex- cooding in all £2,000,000 under the provision of General
Loan Ordinance 1893. I informed members that amount was
to cover loan to Viceroy Wuchang as well as the cost of the Hongkong section of the Canton Kowloon Line and of possibly other contingencies and I promised them that they should be told when (former?) loan was actu-
ally raised. The Crown Agents will I presume continue to lend money at bark rate until conditions are favour-
able for raising loan. If they are unable to do this, I suggest that Hongkong and Shanghai Bank should be asked to allow overdraft on the same terms.
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