Article 17.
Article 18. A reasonable time limit to be conceded under the conditions stated, its period to be a matter for amicable arrangement between the Corporation and the Chinese Government.
816
Article 19. H.E. Tang Shao Yi observed that the freight charges etc. are matters to be regulated by the Director General of the Railway in consultation with the Traffic Manager and Engineer-in-Chief, and that the final arrangements are a matter for discussion and inclusion under the working agreement.
Article 20. Mr. Bland pointed out that this clause as drafted by the Viceroy would be prejudicial to the Chinese Government's interests, inasmuch as the investing public would not be likely to buy bonds under the conditions proposed. He suggested that a premium of 4 per cent be paid on all bonds redeemed before the lapse of 25 years. This question was left open.
As regards the method of repaying the capital, Tang Shaoyi explained that the Viceroy's intention is to redeem the bonds in 40 drawings, one each year after the tenth year.
Article 21. Not discussed.
Articles 22 & 23. Mr. Bland pointed out that the Loan Agreement would not be possible in England if the Chinese text were authoritative, nor could it be signed before the issue of the sanctioning Edict.
The Canton Viceroy's proposals having now been discussed seriatim,
MR. BLAND observed that if the existing difficulties regarding price and commission on materials could be met by the Chinese Government's endorsing the Canton Viceroy's fair and reasonable conditions, the conclusion of the agreement should not entail any great delay; if not, he...
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"o discussion.
Article 17.
Article 18. A reasonable time limit to be conceded under
the conditions stated, itsperiod to be a matter for
amicable a rangement between the Corporation and the
Chinese Government.
816
Article 19. H.E. Tang Shao Yi observed that the freight
-
charges etc. are matters to be regulated by the Tirector
General of the hallway in consultation with the Traffic
and that the final arrange-
-
anager and Engineer-in-Thief
ments are a matter for discussion and inclusion under the
working agreement.
Article 20. Br. land pointed out that this clause as
drafted by the Viceroy would be prejudicial to the "hinese
ovemment's interests, inasmuch as the investing public
would not be likely to buy bonds under the conditions
proposed. To suggested that a premium of 24 per cent be
paid on all bonds redeemed before the lapse of 25 years.
This question was left open.
+
As regards the mthod of repaying the capital, Aung
Faotai explained that the Viceroy'aintontion is to redeem
the bonds in 40 drawinge one each year after the tenth
year.
Article 21. Vot discussed.
•
Articles 22 & 23. Fr. Bland pointed out that the loan
Agreement would not be possible in England if the "hinese
text were authoritative, nor could it be signed before
the issue of the sanctioning Rict.
The "anton Viceroy'a promosals having now been
discussed seriatim >
MR. BLAMD observed that if the existing difficulties RB
regarde price and commission on materials could be met by
the Chinese Goverment'e endorsing the Canton Viceroy's
fair and reasonable conditions, the conclusion of the
agreement should not entail any great delay
if not,
he
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