agreement but the price thereof shall be arranged when the time arrives, having due regard to the conditions of the money market.
When the railway is completed, if there is a surplus from the sale of Bonds the said surplus shall be at the disposal of the Chinese Government either to redeem the Bonds in accordance with the terms of this agreement as hereinafter stated, or to be placed on deposit with the Hongkong & Shanghai Banking Corporation for the purpose of paying interest on the Bond, or for other purposes beneficial to the Railway, in regard to which the Viceroy will communicate in due course with the Corporation.
In all matters relating to the construction of the Railway it is expressly agreed that particular heed shall be paid to the opinions habits and ideas of the Chinese people, and that, when practicable, Chinese shall be employed in positions of trust and responsibility in connection with the Railway.
In regard to earthwork, or such work as Chinese are competent to perform, contracts shall be entered into for such work with Chinese under the sanction of the Head Office and the work itself shall be carried out in accordance with plans and specifications of the Engineer-in-Chief and under his supervision.
Detailed plans and estimates of cost whether of the respective sections of the Railway or of any alterations of the same are to be submitted for the approval of the Viceroy by the Engineer-in-Chief.
Article 3.
The Loan shall be secured by mortgage declared to be now entered into in equity by virtue of this agreement and
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agreement but the price the reof shall be arranged when the time arrives, having due regard to the conditions of the money market.
When the railway is completed, if there is a surplus from the sale of Ronds the said surplus shall be at the
disposal of the hinese Government either to redeem the Ponds in accordance with the terms of this agreement aa hereinafter stated, ut to be placed on deposit with the Hongkong & Shanghai Ranking Corporation for the purpose of paying interest on the Town, or for other purposes beneficial to the Railway, in regard to which the Viceroy will communicate in due course with the Corporation.
In all matters relating to the construction of the
Railway it is expressly agreed that particular heed shall he paid to the opinions habits and ideas of the Chinese
>
people, and that, when practicable, Chinese shall he em- ployed in positions of trust and responsibility in con- nectionwith the Railway.
other
A
In regard to earthwork, or such work as Chinese are
competent to perform, contracts shall be entered into for
such work with Chinese under the sanction of the Head Of-
fice and the work itself shall be carried out in accord-
ance with plans and specifications of the Engineer-in-Chief and under his supervision.
Detailed plans and estimates of cost whether of the respective sections of the Railway or of any alterations of the aume are to be submitted foethe approval of the Viceoy by the Engineer-in-Chief.
Article 3.
The Loan shall be secured by mortgage declared to be now entered into in equity hy virtue of this agreement
and
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