CO129-332 - Public Offices & Others - 1905 — Page 301

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ALOAN

To build and equip the railway, to pay for the necessary land and to provide Tor interest on the loan during construction and working capital, the British Chinese Corporation is

prepared to issue (on behalf of the Imperial Chinese Railway

Administration) a sterling loan, in one or more parts as may be

found necessary, for an amount not exceeding: £2,000,000, such

Toon to be guaranteed unconditionally es to principal and

interest by China with the railway when completed as first

mortgage security therefor.

Imperial Chinese Government Bonds to be inued for the

entire gum, interest on the Ronds to be at the rate of 5 per

annum and be payable half-yearly.

Duration of the Toan to be fixed et 50 years commencing

from the date of this agreement.

Prico for the loan to be ninety per cent of the nominal

value.

After 18 years from date of iamo, China can redeem the

whole or any portion of the fonds, but if they be redeemod

before 25 years from date of innue a premium of 2) over face

value must be paid, after 25 years however the Bonds may be

redeemed without payment of any premium.

Until interest and principal of Lean and all other

indebtedness is paid off china shall not again mortgage the

reilucy to another party whether Chinese or Foreign.

CONSTRUCTION

The Construction and equipment of the railway to be

carried out by and under the direction of the Imperial Chinese

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