431
CANTON-KOWLOON RAILWAY.
THE MEETING (the 7th.) HELD AT THE WAI WU PU ON MONDAY
Present:-
the 22nd. OCTOBER AT 2 p.m.
Communicated by Mr. Bland, Oct. 25, 1906.
Received October 26th. 1906.
TANG Shao-Yi
Kung Taitai and Mr. Hu, representing the Viceroy of
Canton.
Mr. En, Secretary to the Wai Wu Fu and
Mr. J.O.P. Bland, representing the British and Chinese
Corporation Limited.
The complete final draft, as revised from Article 14 to the end
by the Canton Viceroy's deputies and Mr. Bland, was submitted, and
certain amendments, proposed on either side were discussed.
In the latter portion of the Agreement TANG SHAO-YI took
exception to two points, viz., the condition in Article 15 referring
to rival or parallel lines, and that in Article 14 which limits the
settlement of exchange for remittances to London to the Hongkong and
Shanghai Banking Corporation.
The first of these two questions was discussed at considerable
length. TANG SHAO-YI maintaining that the Chinese Government,
being solely interested in the profits of the enterprise, would
naturally refrain from building rival lines of a nature injurious to
its interests, and that to give a definite understanding to the
Corporation in the matter was unnecessary. Mr. Bland, on the other
hand, pointed out that a definite understanding on the point was usual
in loan agreements for railways and, from the bondholders' point of
view, an important factor affecting the value of the first mortgage
security. It was eventually agreed to modify the Clause, recording
simply the fact that the Chinese Government would not permit the
construction of any parallel line injurious to the Railway's interests
in
431
CANTON-KONDOON RAILWAY.
DE MEETING (the 7th.) HELD AT THE WAI WU PU ON MONDAY
Present:-
the 22nd. (CTOBER AT 2 p.n.
Communicated by Mr. Bland, Oct. 25, 1906.
Received October 26th. 1906.
d.b. 1'ang Shao-Yi
Kung Tactai and Mr. Hu, representing the Viceroy of
Canton.
Mr. bn, Secretary to the hai Wu Fu and
Mr. J.0.F.Bland, representing the British and Chinese
Corporation Limited.
The complete final draft, as revised from Article 14 to the end
by the Canton Viceroy's deputies and Mr. Bland, was submitted, and
certain amendments, proposed on either side were discussed.
in the latter portion of the Agreement H.6. L'ANG SHAO-Y) took
exception to two points, via.. the condition in Article 15 referring
to rival or parallel lines, and that in Article 14 which limits the
gettlement of exchange for remittances to London to the Bongkong and
Shanghai Banking Corporation.
The first of these two questions was discussed at considerable
length. b.b. PANG SHAQ-YI maintaining that the Chinese Government,
being solely interested in the profits of the enterprise, would
naturally refrain from buildine rival lines of a nature injurious to
its interests, and that to give a definite understanding to the
Corporation in the matter was unnecessary. Mr. Bland, on the other
hand, pointed out that definite understanding on the coint was usual
in loan agreements for railwaysand, from the bondholders' point of
view, an important factor affecting the value of the first mortgage
security. It was eventually agreed to modify the Clause, recording
simply the fact that the Chinese Government would not permit the
construction of any parallel line injurious to the Railway's interests
in
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