552
(showing the remittance received on account of the Viceroy at Wuchang for Interest due 6th April 1906 and the manner in which the money has been dealt with)
As regards the Loan Account (ii) the overdraft shown viz. £1715. 1. 5. will be increased to £1732. 10. 5. by our Solicitors' charges which amount to £17. 9. 0. and will be met, as to £346. 2. 6. by the remittances which you state in your letter of the 1st of May No. 9261/05 Confidential we shall receive from the Chinese Minister at Washington, while the balance of £1386. 7. 11. will be met by the sale of further 3 per cent Stock.
3. When all the transactions have been completed we propose to send you summaries of the various accounts which will show clearly how all the monies received have been dealt with.
4. With regard to the £24,750 received from the Viceroy at Wuchang and remitted to us as the first instalment of interest due on account of the Loan made to him of £1,100,000 you will see how we have dealt with the money by the Account which we have called the "Wuchang Loan, Interest and Repayment Account", and that we have already made an advance from this Account to the Kowloon-Canton Railway Account of £1632. 9. 3. The Railway Account will in future be kept in funds as far as possible by means of advances from this Account and will be charged with interest on such advances at the same rate of interest that the Colonial Government will pay on its 3.5 per cent Inscribed Stock, the exact rate of which will be arrived at as soon as the Loan Account is closed. Any further monies that
-6-
may
1
552
2.
(showing the remittance received on account of the
Viceroy at Wuchang for Interest due 6th April 1306
and the manner in which the money has been dealt with)
As regards the Loan Account (ii) the overdraft
shown viz. £1715. 1. 5. will be increased to £1732. 10. 5.
by our Solicitors' charges which amount to £17. 9.0. and
will be met, as to £346. 2. 6. by the remittances which you
state in your letter of the 1st of May No.9261/05 Confidential
we shall receive from the Chinese Minister at Washington,
while the balance of £1386. 7. 11. will be met by the sale
of further 3 per cent Stock.
3. When all the transactions have been completed we
propose to send you summaries of the various accounts which
will show clearly how all the monies received have been dealt
with.
4. With regard to the £24,750 received from the
Viceroy at Wuchang and remitted to us as the first instal-
ment of interest due on account of the Loan made to him of
£1,100,000 you will see how we have dealt with the money
by the Account which we have called the "Wuchang Loan, Inter-
est and Repayment Account", and that wehave already made an
advance from this Account to the Kowloon-Canton Railway
Account of £1632. 9. 3., The Railway Account will in
future bekept in funds as far as possible by means of
advances from this Account and will be charged with interest
on such advances at the same rate of interest that the
Colonial Government will pay on its 34 per cent Inscribed
Stock, the exact rate of which will be arrived at as soon
as the Loan Account is closed. Any further monies that
-6-
may
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