Page 423
CIRCUMSTANCES be included. He took occasion also to point out that the uncertainty (entailing serious risk of a considerable fall in Chinese securities) arising out of the present position of the Shanghai Nanking Railway bond Issue, must of necessity be removed before the Board could reasonably be expected to incur the further responsibility of issuing the Canton Kowloon Railway Loan; he hoped therefore that the decision in this matter might no longer be postponed.
H.B. T'ang Shao Yi stated that the authority to issue the Bonds would be given in five days, but that the Chinese Government would expect to receive 96, this being the rate mentioned in his Memorial on the subject. MR. BLAND replied that this rate was named when the Loan was quoted at over 103, excluding interest; the present price, received by wire today being 100½, and the issue could not therefore be made at more than 99% to 100.
To expect the price to be 96 was asking an impossibility.
It was agreed that a meeting would be held on Wednesday next at 2.30 p.m. to consider the Corporation's final terms as to the period of option for the Canton Kowloon Railway Loan issue, at which meeting the completely revised draft agreement would be submitted in English and Chinese.
In conclusion, MR. BLAND suggested that the wording of Article 18 was vague and likely to lead to complications hereafter, owing to the difficulty of defining the actual interstate regulations; he suggested an amendment to the text, which was agreed to, omitting all reference to this condition.
The meeting then adjourned.
(Signed)
J.O.P. Bland.
Page 423
beau
at..
423
.tot ont of moldla0400
19:ld see anolineįdo a' coreoty 9/2
aðnumônere Inher mist 100 EnA
30,00 DAL 0
MITAIRE
I @SIDE O
e "pline. Totuusin 1 43 sprend ate mbas N
ert to výter 15 bag yê Montova
thebat 190 hele hedula £w $7
ya sidanttoarqul wrow votepiv dogo tu ajoa) ud med se anint.iqxo
ORT 1.0.0 a. aton ART &
no notaverat
10 besteak and bentoon
zobeton atijne Cooni.?
esenide edd ni
› Vælist er
19 evidados engan end
hedves to eshopu
ni eloi
.moduna ɛ'dreens yel
1...
F
.bite?
a cooky moung ad
Jeiv niaga †KEJ
old soup 4d of mai^.show
ton, beytenen margele u boji imduwe
bened, to daw at abide ni noijsno Tet sal
Oc absie beugat od blogila msof
CO TOAN. Jung nobnol ni #JnSMUDOD 5:3
Bild 20 Mi gemmis 10 suoit of
Ja Bolago to Aut
nofind neab{0}
10.
to Viwasi mild as
- Dusal to noivyo BIJ 02 88TUD
boi:1 exoi 1 Tevo aðnhos & To
+lLinkyanq sift bodabywe one,bome SY
ut “zo ar dænd gribnądu neony pat no bodoluqise ed Jiati
bad 2d
CUBE #PE® TRIPOL COUATION
circumstances be included. He took occasion also
to point out that the uncertainty (entailing serious risk of a considerable fall in Chinese securities) arising out of the present position of the Shanghai Tanking Railway bond Issue, must of necessity be removed before the Foard could reasonably be expected to incur the further responsibility of issuing the Canton Kowloon Railway Loan; he hoped therefore that the decision in this matter might no longer be post- poned.
H.B. T'ang Shao Yl stated that the authority to issue the Bonds would be given in five days, but that the Chinese Goverment would expect to receive 96, this being the rate mentio ed in his "emorial on the subject. MR. BLAND replied that this rate was named when the Loan was quoted at over 103, excluding interest; the present price, received by wire today being 100%, and the issue could not therefore be made at more than 99% to 100.
To expect the price to be 96 was asking an impossibility.
It was agroed that a meeting would be held on Wednesday next at 2.30 p.m. to consider the Corpora- tion's final terms as to the period of option for the Canton Kowloon Railway Loan issue, at which meeting the completely revised draft agreement would be submitted in English and Chinese.
In conclusi
on,
MR. FLAND suggested that the wording of Article 18 was vague and likely to lead to complications hereafter, owing to the difficulty
of defining the actual interstate regulations; he suggested an amendment to the text, which was agreed to, omitting all reference to this condition.
The meeting then adjourned.
(Signed)
J.0.P. Bland.
No comments yet.
Private notes are available after approval.