CO129-344 - Public Offices & Foreign Office - 1907 — Page 616

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principal. I pointed out that a similar provision was to

be found in the 1900 and 1905 loan agreements; but he ar-

gued that now all agreements were very closely scrutinized

and that the comparatively excessive aize of the revenue

pledged rendered such a provision in addition to the quart

erly likin bonds quite superfluoue. He also urged us to

promise a net price of £94 for each 100 bond; but this

Mr Hillier could not assent to without a reply from his

principals in Londony who had originally suggested 92.

As the conversation had already lasted a long time we

agreed to leave the points on which we were not quite in

accord for further discussion after the Viceroy had had

time to peruse the draft agreement at leisure and Er Hil-

lier had received from his principale replies to his tel-

egraphic reports.

We were desirous of retiring but the Viceroy detained

us to consider the Yokohama Specie Bank'e request to be

one of the issuing banks and Mr Odagiri's scheme of carry-

ing out railway construction by tenders involving deferred

payment for work done.

I repeated to His Excellency my declaration to Messrs

Midzumo and Odagiri that the issue question pertained en-

tirely to the banks concerned; and Mr Hillier added that

the