Affairs
in
• Enclosure No. 2. in
fa Ho. 7129/1898.
bhina
143
Foreign Office Letter 465+ Feb 16, 1906.
5477
Rec 16 FEB 06
Northern Railway Loan Agreement.
Sir,
No. 105.
Hong Kong and Shanghae Banking Corporation to Foreign Office.--- (Received November 24.)
31, Lombard Street, London, November 23, 1898.
IN September last I had the honour to inform you that, in order to enable the bank to raise the funds required for the extension of the Peking and Shan-hai-Kuan Railway to Newchwang, it would be necessary to have some assurance from Her Majesty's Government that our contract would be upheld. In reply, you were so good as to inform me that Her Majesty's Government would be prepared to state that they made a note of the contract as a binding agreement upon the Chinese Government. At that time, I was not without hope that a communication in those terms would be sufficient.
Since then, however, so much has happened in China that capitalists naturally hesitate to invest money in that country without some assurance that their security will not be interfered with. I am, therefore, reluctantly compelled to ask Her Majesty's Government to go the length of giving an assurance that our contract will be upheld, otherwise it will not be possible to carry out the transaction.
I have the honour to inclose a Report upon railways forming our security, from which you will notice the proposed advance is amply covered, and consequently such an assurance as I am asking for is not likely to carry with it any pecuniary obligation.
6
Affairs
in
• Enclosure No. 2. in
fa Ho. 7129/1898.
bhina
143
Foreign Office Letter 465+ Feb 16, 1906.
5477
Rec 16 FEE 06
Northern Railway Loan Agreement.
Sir,
No. 105.
Hong Kong and Shanghae Banking Corporation to Foreign Office.--- (Received November 24.)
31, Lombard Street, London, November 23, 1898.
IN September last I had the honour to inform you that, in order to enable the bank to raise the funds required for the extension of the Peking and Shan-hai-Kuan Railway to Newchwang, it would be necessary to have some assurance from Her Majesty's Government that our contract would be upheld. In reply, you were so good as to inform me that Her Majesty's Government would be prepared to state that they made a note of the contract as a binding agreement upon the Chinese Government. At that time, I was not without hope that a communication in those terms would be sufficient.
Since then, however, so much has happened in China that capitalists naturally hesitate to invest money in that country without some assurance that their security will not be interfered with. I am, therefore, reluctantly compelled to ask Her Majesty's Government to go the length of giving an assurance that our contract will be upheld, otherwise it will not be possible to carry out the transaction.
I have the honour to inclose a Report upon railways forming our security, from which
you will notice the proposed advance is amply covered, and consequently such on assurance as I am asking for is not likely to carry with it any pecuniary obligation.
6
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