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Enclosure No & to Secret Deepakil of stulos
↑ .
helin from M°CH Rop to HB14 Munista Peknis
Ros
Wardine,
athesoni
651
The British and Chinese Corporation,
K-WO, Peking
17th April, 1905.
Received 18th April, 1905.
Dear Fir Ernest Satow,
Your note which was addressed in error to the Hotel
Wagons-Lits has just reached me. I am living at our new bungalow in Legation treet, which has been built on the site
of the one destroyed in 1900. I merely mention this in case
you may hereafter have occasion to communicate with me on
railway matters and to save any possible delay.
In accordance
(sic)
4th your request I enclose a copy of the
rough estimate of amount of loan required for the Canton-
lven) Hankow railway. In this estimate you will observe the rominal
amount of the loan is placed at £1,500,000, but the Chinese
would actuallly get only £1,350,000.
A
In previous railway
loans,
as fur AS am aware, nothing has ever been provided for
"working capital" or "margins", whereas in the enclosed
estimate, in order to comply with clause 10 of Schedule and leave a margin for contingencies these amount to £133,622, A
aum almost ufficient to provide for the two additional years
interest which may be required in the event of the Hongkong
section taking four years to build.
In discussing this matter
with
ک
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