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AOFAN el ance th
2004
332
of the Chinese Government that the line shall be built as economically as possible. He stated that in the event of the Loan funds proving insufficient to complete the railway, the Chinese Government would provide the balance required.
Article VIII.
No discussion.
Article IX.
The amount of the commuted commission (£35,000) was briefly discussed and eventually left in abeyance to be further considered in connection with the price of the Loan.
Article X.
This Article was amended by the omission of the last clause referring to Railway Police and other verbal alterations.
Article XI. H.E. T'ang Shao-yi observed that the procedure proposed for depositing six months in advance the amount required for payments of interest and principal could only be accepted with the stipulation that the surplus earnings of the line were sufficient to allow of such deposits. He was of opinion that for some time after the opening of the line to traffic this would not be the case and that it would be unreasonable to expect such deposits to be made from other than Railway sources. It was therefore agreed to word the Article in this sense, providing for remittances 14 days before due date in the event of there being no surplus funds available for deposit six months in advance.
Article XII. The proposal contained in this Article was fully discussed, H.E. T'ang Shao-yi considering the same as justifiable and the amount of remuneration reasonable, while the Canton Viceroy's representatives opposed it
ICE
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ulleady to wo
#002
AOFAN el ance th
2004
332
of the Chinese Government that the line shall be built as
economically as possible. He stated that in the event of
the Loan funds proving insufficient to complete the rail-
way,
the Chinese Government would provide the balance re-
quired.
__
bat:
Article VIII.
No discussion.
Article IX.
The amount of the commuted commission
(£35,000) was briefly discussed and eventually left in
abeyance to be further considered in connection with the
price of the Loan.
Article X.
This Article was amended by the omis-
sion of the last clause referring to Railway Police and
other verbal alteratione.
Article XI. H.E. T'ang Shao-yi observed that the
procedure proposed for depositing six months in advance
the amount required for payments of interest and principal
could only be accepted with the stipulation that the sur-
plus earnings of the line were sufficient to allow of such
deposits. He was of opinion that for some time after the
opening of the line to traffic this would not be the case
and that it would be unreasonable to expect such deposits
to be made from other than Railway sources. It was there-
fore agreed to word the Article in this sense, providing
for remittances 14 days before due date in the event of
there being no surplus funds available for deposit six
months in advance.
Article XII. The proposal contained in this Article
was fully discussed, R.E. T'ang Shao-yi considering the
same as justifiable and the amount of remuneration reason-
able, while the Canton Viceroy's representatives opposed
it
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