CO129-332 - Public Offices & Others - 1905 — Page 172

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There shall also, in order to comply with the Working Agreement,

be established in connection with the Railway such necessary

adjuncts of modern railway operation as repair and manufacturing

shops, warehouses, etc.

ARTICLE 12.

It is agreed that of the net income or profit receivable by the

Chinese Government under the Working Agreement or in any other

way from the working of the Railway after defraying the working

and other expenses and interest as described below, the Corporation

shall receive twenty per cent, which shall be represented by and in

form of Certificates having a nominal capital value of one-fifth of the

nominal amount of the loan issued to provide for the construction

equipment and working of the Railway and all incidental

matters as provided in this Agreement. Such Certificates will entitle

the holders to participate rateably in such twenty per cent. These

Certificates carry no interest, and are to have a term of fifty years

and a declared face value of £100 each, and are to be issued to the

Corporation or its nominees at the same time as the Loan Bonds

and in amount proportionate to the respective series of such Bonds

to the amount of one-fifth of the aggregate nominal amount thereof, it

being understood that if there is an issue of the Loan Bonds in

excess of the requirements of the Railway and such excess is retired