CO129-332 - Public Offices & Others - 1905 — Page 174

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necessary, in payment for lands which are essential to the Railway

and which cannot otherwise be conveniently acquired by it.

The net yearly income or profits of the Railway shall be the gross

income receivable, whether under the Working Agreement or otherwise,

after payment as provided for by the Working Agreement, of all

working expenses, cost of maintaining and repairing the Railway,

renovating or replenishment of engines and rolling stock, and all

expenditure comected with the business of the Railway, including

the commission to the Corporation on materials, and after the

payment of interest on the Bonds at five per cent. per annum

and of interest on all advances made by the Corporation,

of which net income or profits one-fifth is to be represented

by the Certificates to be given to the Corporation for disposal as it

may see fit.

If the Loan Bonds shall have been all redeemed

according to the provisions of this Agreement before the net profit

Certificates issued to the Corporation have been redeemed, or shall

have lapsed by effluxion of time, the Corporation shall be permitted

to have a representative in the Railway office (whose salary is to be

paid by the Railway Administration) to inspect the accounts of the

Railway, whether as kept under the Working Agreement or otherwise.

The duties of this officer are those of au accountant who is to

protect the interests of the foreign holders of net profit Certificates

until such time as these Certificates shall have all been redeemed or