CO129-351 - Public Offices - 1908 — Page 787

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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780

Messrs Moore and Ross as engineers, but there was utter lack of funds, and until the question of capital was placed on a sound basis, much of the present expenditure would be wasted. A loan was necessary and it was the duty of the Chinese Government to decide on this at once and take advantage of the present favourable conditions of the money market.

This morning M. Bapst told me that since our conversation of the 22nd, he had learnt that there is a Belgian proposal to have the amount represented by the unredeemed bonds incorporated in the capital to be subscribed by the three provinces for the construction of the line, with the object doubtless of thereby obtaining a voice in the construction. M. Bapst also stated that no interest has been paid on the unredeemed bonds during the past three years, and that the Chinese, when applied to, deny liability and always refer the Belgians to the American Development Company. In this attitude the Chinese Government are probably relying on Article 17 of the Washington Supplemental Agreement of

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780 Messrs Moore and Ross as engineers, but there was utter lack of funds, and until the question of capital was placed on a sound basis, much of the present expenditure would be wasted. A loan was necessary and it was the duty of the Chinese Government to decide on this at once and take advantage of the present favourable conditions of the money market. This morning M. Bapst told me that since our conversation of the 22nd, he had learnt that there is a Belgian proposal to have the amount represented by the unredeemed bonds incorporated in the capital to be subscribed by the three provinces for the construction of the line, with the object doubtless of thereby obtaining a voice in the construction. M. Bapst also stated that no interest has been paid on the unredeemed bonds during the past three years, and that the Chinese, when applied to, deny liability and always refer the Belgians to the American Development Company. In this attitude the Chinese Government are probably relying on Article 17 of the Washington Supplemental Agreement of
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2 780 Mesers Moore and Ross as engineers, but there was un utter lack of funds, and until the question of capital was placed on a sound basis, much of the present exp ndi- ture would be wasted. A loan was necessary and it was > the duty of the chinese Government to decide on this at once and take advantage of the present favourable conditions of the money market. This morning ".Bapst told me that since our con- versation of the 22nd, he had learnt that there is a Belgian proposal to have the amount represented by the unredeemed bonde incorporated in the capital to be subscribed by the three provinces for the construction of the line, with the object doubtless of thereby obtaining a voice in the construction. M.Bapst also stated that no interest has been paid on the unredeemed bonds during the past three years, and that the Chinese, when applied to, deny liability and always refer the Belgians to the American development Company. In this attitude the Chinese Government are probably relying on Article 17 of the Washington Supplemental Agreement of
2026-06-06 11:57:45 · Baseline
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2

780

Mesers Moore and Ross as engineers, but there was un

utter lack of funds, and until the question of capital

was placed on a sound basis, much of the present exp ndi-

ture would be wasted. A loan was necessary and it was

>

the duty of the chinese Government to decide on this at

once and take advantage of the present favourable

conditions of the money market.

This morning ".Bapst told me that since our con-

versation of the 22nd, he had learnt that there is a

Belgian proposal to have the amount represented by the

unredeemed bonde incorporated in the capital to be

subscribed by the three provinces for the construction

of the line, with the object doubtless of thereby

obtaining a voice in the construction. M.Bapst also

stated that no interest has been paid on the unredeemed

bonds during the past three years, and that the Chinese,

when applied to, deny liability and always refer the

Belgians to the American development Company. In this

attitude the Chinese Government are probably relying on

Article 17 of the Washington Supplemental Agreement

of

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