[This Document is the Property of His Britannic Majesty's Government.]
CHINA RAILWAYS.
CONFIDENTIAL.
(32201)
No. 1.
[September 14.]
SECTION 4.
Telegram communicated by Mr. Addis September 14, 1908.
September 14, 1908. BOARD of Communication (Yuchuanpu), Peking, make us new offer 7,000,000l. thirty years' redemption, commencing eleventh year; rate of interest 5 per cent. per annum first fifteen years, 41/2 per cent. last fifteen years. First issue, 4,000,000l.; proceeds to be delivered 10th December; price, 94 per cent. firm. Second issue, 3,000,000l., in the course of next year, on a commission basis in terms of our wire of the 29th August. With reference to the foregoing, if you are prepared to forgo 93 per cent. option, we suggest authorize us to make final counter-offer, subject to immediate acceptance 7,000,000l. in one issue, 94 per cent. firm, 4,000,000l. to be delivered 10th December. Other outstanding terms. They must be to our satisfaction, with the exemption of proposed statement with regard to immediate redemption of Peking-Hankow Railway, to which our opinion is they will not agree with reference to the foregoing persistent obstructions. Suggest influence of strong Chinese pro-Belgian party anxious to wreck negotiations, or presumably redemption, even if loan issued. Hence possibly refusal to allow any reference to redemption. We are unable to explain how Board of Communication (Yuchuanpu), Peking, they can propose terms identical with counter-offer wired confidentially Banque de l'Indo-Chine, Peking. British Minister, Peking, requests you to communicate the preceding and your reply to Foreign Office.
[1940 o---4]
144
[This Document is the Property of His Britannic Majesty's Government.]
CHINA RAILWAYS.
CONFIDENTIAL.
(32201)
No. 1.
[September 14.]
SECTION 4.
Telegram communicated by Mr. Addis September 14, 1908.
September 14, 1908. BOARD of Communication (Yuchuanpu), Peking, make us new offer 7,000,0007. thirty years' redemption, commencing eleventh year; rate of interest 5 per cent. per annum first fifteen years, 44 per cent. last fifteen years. First issue, 4,000,000Z.; proceeds to be delivered 10th December; price, 94 per cent. firm. Second issue, 3,000,000l., in the course of next year, on a commission basis in terms of our wire of the 29th August. With reference to the foregoing, if you are prepared to forgo 93 per cent. option, we suggest authorize us to make final counter-offer, subject to immediate acceptance 7,000,000l. in one issue, 94 per cent. firm, 4,000,000l. to be delivered 10th December. Other outstanding terms. They must be to our satisfaction, with the exemption of proposed statement with regard to immediate redemption of Peking-Hankow Railway, to which our opinion is they will not agree with reference to the foregoing persistent obstructions. Suggest influence of strong Chinese pro-Belgian party anxious to wreck negotiations, or presumably redemption, even if loan issued. Hence possibly refusal to allow any reference to redemption. We are unable to explain how Board of Communication (Yuchuanpu), Peking, they can propose terms identical with counter-offer wired confidentially Banque de l'Indo-Chine, Peking. British Minister, Peking, requests you to communicate the preceding and your reply to Foreign Office.
[1940 o---4]
144
No comments yet.
Private notes are available after approval.