6
No commission shall be paid to the agents except as above provided; but it is understood that the Yuchuan Pu or its duly authorized representative shall provide out of railway funds for the remuneration of consulting engineers, whenever their services are required for general assistance and advice or for the inspection abroad of materials requiring supervision of technical experts.
With a view to the encouragement of Chinese industries, preference shall be given, at equal prices and qualities, over British and other foreign goods to Chinese goods and materials manufactured in China. No commission will be paid on purchases of such materials and goods.
It is understood and agreed that, after the construction of the line is completed, the Corporation will be given the preference for such agency business during the currency of the loan for the supply of foreign materials as may be required for the railway, on terms to be hereafter mutually agreed upon.
Art. 19. Branch lines in connection with the railway mentioned in this agreement, that may appear profitable or necessary later on, shall be built by the Imperial Chinese Government with funds at their disposal from Chinese sources, and if foreign capital is required, preference will be given to the Corporation.
Art. 20. By the preliminary agreement, dated the 15th day of October, 1898 (1st day, 9th moon, 24th year Kuang Hsü), participation of 20 per cent. of the net profits of the railway had been promised to the Corporation in remuneration for their general responsibility and services. In commutation of this participation in net profits, the Corporation is granted the right to retain 67,500l. out of the proceeds of the loan in instalments and on dates in proportion to, and based on, the terms of subscription to the loan, as stated in the prospectus. No further payment in respect of commutation of profits will be allowed on any supplementary loans.
Art. 21. After payment of interest and repayment of principal of the loan for any current year, the Yuchuan Pu shall deposit with the Hong Kong and Shanghae Banking Corporation in Shanghae any surplus of the net revenue of the railway line for that year up to the amount required to pay the following year's instalments of interest on the loan, the rate of interest on the deposit being arranged with the bank from time to time with due regard to the conditions of the market.
Art. 22. The Corporation may, subject to all its obligations under this agreement, transfer or delegate all or any of its rights, powers, or discretions thereunder to any British Company, director, or agent, with power of further transfer and sub-delegation, such transfer, sub-transfer, delegation, or sub-delegation to be subject to the approval of the Yuchuan Pu.
Art. 23. This agreement is signed under authority of an Imperial Decree of this date, which has been officially communicated to the Minister of Great Britain in Peking by the Wai-wu Pu.
Art. 24. Three sets of this Agreement are executed in English and Chinese, two sets to be retained by the Imperial Chinese Government, and one by the Corporation; in the event of any doubt arising regarding the interpretation of the contract, the English text shall rule.
Signed at Peking by the Contracting Parties, this 4th day of the 2nd month of the 34th year of the Emperor Kuang Hsü, being the 6th day of March, 1908.
(Signed)
HU HUI-TE. LIANG SHIH-YI.
KAO ERH CH'IEN.
(Seal of Wai-wu Pu.)
For the British and Chinese Corporation (Limited), (Signed) J. O. P. BLAND,
7
SHANGHAE-HANGCHOW-NINGPO RAILWAY.
Amortization Schedule.
1,500,000l., at 5 per cent., thirty years.
Years. Interest. Principal. Principal repaid. Principal outstanding. £ £ £ £ 1 37,500 1,500,000 2 37,500 3 37,500 87,500 87,500 4 37,500 87,500 5 37,500 87,500 6 37,500 87,500 7 37,500 87,500 8 37,500 87,500 9 37,500 87,500 10 37,500 87,500 11 35,625 87,500 75,000 1,425,000 12 35,625 37,500 112,500 1,350,000 13 33,750 37,500 150,000 1,275,000 14 31,875 37,500 187,500 1,200,000 15 30,000 37,500 225,000 1,125,000 16 28,125 37,500 262,500 1,050,000 17 26,250 37,500 300,000 975,000 18 24,375 37,500 337,500 900,000 19 22,500 37,500 375,000 825,000 20 20,625 37,500 412,500 750,000 21 18,750 37,500 450,000 675,000 22 16,875 37,500 487,500 600,000 23 15,000 37,500 525,000 525,000 24 13,125 37,500 562,500 450,000 25 11,250 37,500 600,000 375,000 26 9,375 37,500 637,500 300,000 27 7,500 37,500 675,000 225,000 28 5,625 37,500 712,500 150,000 29 3,750 37,500 750,000 75,000 30 1,875 37,500 787,500Representative in China.
6
No commission shall be paid to the agents except as above provided; but it is understood that the Yuchuan Pu or its duly authorized representative shall provide out of railway funds for the remuneration of consulting engineers, whenever their services are required for general assistance and advice or for the inspection abroad of materials requiring supervision of technical experts.
With a view to the encouragement of Chinese industries, preference shall be given, at equal prices and qualities, over British and other foreign goods to Chinese goods and materials manufactured in China. No commnission will be paid on purchases of such materials and goods.
It is understood and agreed that, after the construction of the line is completed, the Corporation will be given the preference for such agency business during the currency of the loan for the supply of foreign materials as may be required for the railway, on terms to be hereafter mutually agreed upon.
Art. 19, Branch lines in connection with the railway mentioned in this agreement, that may appear profitable or necessary later on, shall be built by the Imperial Chinese Government with funds at their disposal from Chinese sources, and if foreign capital is required, preference will be given to the Corporation.
Art. 20. By the preliminary agreement, dated the 15th day of October, 1898 (1st day, 9th moon, 24th year Kuang Hsü), participation of 20 per cent, of the net profits of the railway had been promised to the Corporation in remuneration for their general responsibility and services. In commutation of this participation in net profits, the Corporation is granted the right to retain 67,5001. out of the proceeds of the loan in instalments and on dates in proportion to, and based on, the terms of subscription to the loan, as stated in the prospectus. No further payment in respect of commutation of profits will be allowed on any supplementary loans.
Art. 21. After payment of interest and repayment of principal of the loan for any current year, the Yuchuan Pu shall deposit with the Hong Kong and Shanghae Banking Corporation in Shanghae any surplus of the net revenue of the railway line for that year up to the amount required to pay the following year's instalments of interest on the loan, the rate of interest on the deposit being arranged with the bank from time to time with due regard to the conditions of the market.
Art. 22. The Corporation may, subject to all its obligations under this agreement, transfer or delegate all or any of its rights, powers, or discretions thereunder to any British Company, director, or agent, with power of further transfer and sub-delegation, such transfer, sub-transfer, delegation, or sub-delegation to be subject to the approval of the Yuchuan Pu.
Art. 23. This agreement is signed under authority of an Imperial Decree of this date, which has been officially communicated to the Minister of Great Britain in Peking by the Wai-wu Pu.
Art. 24. Three sets of this Agreement are executed in English and Chinese, two sets to be retained by the Imperial Chinese Government, and one by the Corporation; in the event of any doubt arising regarding the interpretation of the contract, the English text shall rule.
Signed at Peking by the Contracting Parties, this 4th day of the 2nd month of the 34th year of the Emperor Kuang Hsü, being the 6th day of March, 1908.
(Signed)
HU HUI-TE. LIANG SHIH-YI.
KAO ERH CH'IEN..
(Seal of Wai-wu Pu.)
For the British and Chinese Corporation (Limited), (Signed) J. O. P. BLAND,
7
SHANGHAE-HANGCHOW-NINGPO RAILWAY.
Amortization Schedule.
1,500,0001, at 5 per cent., thirty years.
595
Years.
Interest.
Principal.
Principal repaid.
Principal outstanding.
£
£
£
£
37,500
1
1,500,000
37,500
37.500
2
1,500,000
87,500
37,500
#
1,500,000
37,500
87,500
4
1,500,000
37,500
87,500
5
1,500,000
37,500
37,500
6
1,500,000
87,500
$7,500
7
1,500,000
37,500
37,500
8
1,500,000
37,500
87,500
y
1,500,000
87,500
!
37.500
10
1,500,000
87,500
87,500
87,500
37,500
11
1,425,000
87,500
$7,500
75,000
12
Representative in China.
224 9 * * R 2 N 2 2 2 2 2 2 3
35,625
37,500
112,500
1,350,000
35,625
37,500
150,000
83,750
37.500
187,500
13
1,275,000
33,750
37,500
225,000
14
31,875
37,500
262,500
1,200,000
31,875
37,500
800,000
30,000
37.500
337,500
15
1,125,000
80,000
37,500
375.000
28,125
37,500
412,500
16
28,125
87,500
450,000
1,050,000
26,250
37,500
487,500
17
975,000
26,250
37,500
525,000
24,375
37,500
562,500
18
900,000
24,375
87,500
$00,000
22.300
87,500
637,500
19
825,000
22,500
$7,500
675,000
20,625
87,500
712,500
20
750,000
20,625
37,500
750,000
18,750
37,500
787,500
21
675,000
18,750
$7.500
825,000
16,875
37,500
862,500
22
600,000
16,875
87,500
900,000
15,000
87,500
937,500
23
525,000
15,000
37,500
975,000
13,125
$7,500
1,012,300
24
450,000
13,125
37,500
1,050,000
11,250
37,500
1,087,500
25
11,250
87,500
1,125,000
375,000
9,375
$7,500
1,162,500
26
300,000
9,875
37,500
1,200,000
7,500
37,500
1,287,500
27
225,000
7,500
37,500
1,275,000
28
5,625
37,500
1,312,500
150,000
5,625
87,500
1,350,000
8,750
37,500
1,387,500
29
75,000
8.750
$7,500
1,425,000
1,875
37,500
1,462,500
30
1,875
$7,000
1,500,000
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