CO129-332 - Public Offices & Others - 1905 — Page 455

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working of the Joint Railway becoming operative the powers and duties of the Board of Com issioners to be constituted under Article 6 of the Loan Agreement to be suspended except for the purpose of receiving and dealing with the share of net revenue to which the

Chinese Railay may be entitled and which after pro- viding for the service of the Loan shall be appropriated as provided in Article 12 of the Loan Agreement.

5.

The Bet Revenue of the Joint Railway to be divided half-yearly between the Colonial Government and the Chinese Government in proportion to the capital of the respective Governments employed in the con- struction and operation of the Joint Railwa In the event of the Railway being worked at a loss such losS shall be borne by the respective Governments in the like proportions.

6.

The Agreement to be capable of modification and determination by mutual consent but not otherwise nor while any Chinese Goverment Railway Bonds and Net Profit Certificates issued in connection with the Loan

to construct the Chinese Section are outstanding without

the concurrence of the British and Chinese Corporation.

I am, etc.,

(stared). W. KBSVICK.