339
after deduction so much of them as may be required to be kept in England for the purchase of materials and the payments of contracts there, such amounts as may be estimated and certified to by the Engineer-in-Chief to the Viceroy hereafter mentioned as being actually required for the construction of any particular section of the Railway may be ordered by the Viceroy after consideration transferred to Hongkong to be kept in the Hongkong and Shanghai Bank and placed to the credit of the construction account of the Railway for the exclusive purpose of constructing the Railway in the manner herein provided for under the supervision of the Head Office and the Viceroy.
On each occasion of remittance being made to China the amount realised in sycee will be reported to the Viceroy and any portion which may not be required shall be placed ...
Similarly the balance in England shall be placed at interest, to be allowed at the usual rate.
The accounts of the money spent from time to time in England and of the money transferred to the credit of the construction and other accounts for use in China are to be submitted quarterly to the Head Office for report to the Viceroy for the information of the Tai Pu and for his further report to the Board of Revenue and the Bureau of Works for record therein, after such accounts have been approved & signed by him.
Article 5.
As to the form of the Bond it is to be agreed upon by the Viceroy or by the Chinese Minister in London and the Corporation at the same time as this agreement is signed, but if hereafter the money markets in London or other countries require any modification of the form of the Bond, except in anything that affects the amount of the Loan
339
after deduction so much of them as may be required to be
ept in England for the purchase of materials and the pay- ments of contracts there, such amounts as may be estimated and certified to by the Engineer-in-Chief to the Viceroy hereafter mentioned as being actually required for the construction of any particular section of the Rail way may be ordered by the "iceroy after consideration transferred to Hongkong to be kept in the Hongkong and Shanghai Pank and placed to the credit of the construction account of the Railway for the exclusive purpose of con- structing the Railway in the manner herein provided for under the supervision of the Head Office and the Viceroy.
On eac occasion of remittance being made to China the amount, realised in sycee will be reported to the Viceroy and any portion which may not be required shall be pa ced
"Similarly the balance in England shall bejolaced at interest, at interest, to he allowed at the usualʼrate.
A
The accounts of the money spent from time to time in Ingland and of the money transferred to the credit of the construction and other accounts for use in China are to be submitted quarterly to the Head Office for report to the Viceroy for the information of the Fai "u Pu and for his further report to the Board of Revenue and the Bureau of Wines for record therein, after such accounts have been
approved, & signed by him.
Article 5.
As to the form of the Bond it is to be agreed upon by the Viceroy or by the Chinese Minister in London and the Corporation at the same time as this agreement is signed, but if hereafter the money markets in London or other countries require any modifiation of the form of the Pond, except, in anything that affects the
the amount of the
Loan
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