2
pay
Kiangsu, and Chekiang, and the amount due in respect of principal and interest in the ensuing year is to be deposited a year in advance in the banks, which will thereon. The banks will also give a written undertaking that they will not interfere in any way with the management of the railway or of the other productive works.
The Board find, after careful consideration of this Agreement, that it merely contains stipulations with reference to the method of issuing the loan, payment of interest, and repayment of capital; it contains no provisions as to the manner in which the funds must be administered, and therefore avoids the risk of complications such as were involved under previous loans. They also find that no charges are incurred, with the exception of the discount of 6 per cent., and, should there be any loss in connection with the flotation of the loan, it will be borne entirely by the two banks. The Governors-General and Governors of the provinces concerned have all agreed to the hypothecation of their revenues from miscellaneous duties, but this hypothecation is in reality only nominal, as the payment of interest and repayment of capital will be made out of the surplus profits on undertakings directed by the Board, who estimate that the loan can undoubtedly be repaid in full in thirty years.
The Board submit that this Agreement is free from the dangers of international complications contained in previous Loan Agreements, and should prove most advantageous to the State. They therefore request permission to conclude it.
"Let the Ministers of the Yu Ch'uan Pu sign the Agreement, and let the rest be as proposed."
On the 8th October the following Imperial Decree was received:
This Document is the Property of His Britannic Majesty's Government.]
AFFAIRS OF CHINA.
CONFIDENTIAL.
0.0
487
[September 27]
[31031]
(No. 319.)
Sir,
No. 1.
SECTION II,
BER 17 DEC 08
Sir J. Jordan to Sir Edward Grey.~(Received September 7.)
Peking, July 16, 1908.
I HAVE the honour to transmit to you herewith a copy of a despatch from His Majesty's Consul-General at Shanghae, in which he requests authority to issue certificates of British registry to eleven vessels, the property of the Taku Tug and Lighter Company, a British Company registered in Hong Kong but having its principal place of business in Tien-tsin.
The whole question connected with the registration of vessels of this class has been so fully dealt with in my despatches Nos. 296 and 318 of the 20th ultimo and 4th instant that I need not do more than reiterate my concurrence in the view expressed by Sir Pelham Warren that if their right to be treated as British vessels is doubtful under the existing law, special legislation should, if possible, be introduced to meet the requirements of the increasing numbers of British ship-owners who have their principal places of business at the Treaty ports in China.
I have, &c.
(Signed) J. N. JORDAN.
Inclosure 1 in No. 1.
Sir P. Warren to Sir J. Jordan.
(No. 70.) Sir,
Shanghae, July 7, 1908.
I HAVE the honour to inclose herewith copies of three despatches which have been addressed to me by His Majesty's Consul-General at Tien-tsin, requesting that eleven vessels, the property of the Taku Tug and Lighter Company of Tien-tsin, may be registered as British ships. The circumstances are somewhat unusual, as the Company holds no bills of sale, builders' certificates, or other documents of title such as are called for by "The Merchant Shipping Act, 1894" (section 10). I find, however, on reference to the Official Instructions to Registrars" (section 23), the following passage:-
**
"The Commissioners of Customs in the British Islands and the Governors in British possessions abroad have power to dispense with the production of the builder's certificate when they consider that from any sufficient cause it cannot be produced. But, as the certificate is a document of title, this power is never exercised except on the strongest grounds."
From the facts as set forth by His Majesty's Consul-General at Tien-tsin, and from the evidence contained in the deed of trust and in the Agreement with the British military authorities, copies of which are inclosed, it would appear that the claim to ownership on the part of the Taku Tug and Lighter Company of Tien-tsin is well established, and that it is in the interests of justice and of the proper regulation of British shipping that these vessels should be placed upon the register. In these circumstances I have the honour to request that you will, as representative of the Board of Trade in China, recommend to the authorities at home that the application be granted, and that I may be empowered to issue to the Company certificates of British registry.
In forwarding to you this request on behalf of a British Company registered at Hong Kong, but having its principal place of business at Tien-tsin, I have the honour to refer once more to my despatches No. 77 of the 6th June, and No. 88 of the 22nd June, 1907, and to your reply which was contained in a despatch No. 41 of the 3rd July. The hardship which would appear to be inflicted by section 1 (d) of the Merchant Shipping Act of 1894 upon British Companies having their principal place
[1933 g---11]
B
2
pay
Kiangsu, and Chekiang, and the amount due in respect of principal and interest in the interest ensuing year is to be deposited a year in advance in the banks, which will thereon. The banks will also give a written undertaking that they will not interfere in any way with the management of the railway or of the other productive works.
The Board find, after careful consideration of this Agreement, that it merely contains stipulations with reference to the method of issuing the loan, payment of interest, and repayment of capital; it contains no provisions as to the manner in which the funds must be administered, and therefore avoids the risk of complications such as were involved under previous loans. They also find that no charges are incurred, with the exception of the discount of 6 per cent., and, should there be any loss in connection with the flotation of the loan, it will be borne entirely by the two banks. The Governors- General and Governors of the provinces concerned have all agreed to the hypothecation of their revenues from miscellaneous duties, but this hypothecation is in reality only nominal, as the payment of interest and repayment of capital will be made out of the surplus profits on undertakings directed by the Board, who estimate that the loan can undoubtedly be repaid in full in thirty years.
The Board submit that this Agreement is free from the dangers of international complications contained in previous Loan Agreements, and should prove most advan- tageous to the State. They therefore request permission to conclude it.
"Let the On the 8th October the following Imperial Decree was received: Ministers of the Yu Ch'uan Pu sign the Agreement, and let the rest be as proposed."
This Document is the Property of His Britannic Majesty's Government.]
AFFAIRS OF CHINA.
CONFIDENTIAL.
0.0
487
[September£270
[31031]
(No. 319.)
Sir,
No. 1.
SECTION 11,
BER 17 DEC 08
*.
Sir J. Jordan to Sir Edward Grey.~(Received September 7.)
Peking, July 16, 1903. I HAVE the honour to transmit to you herewith a copy of a despatch from His Majesty's Consul-General at Shanghae, in which he requests authority to issue certificates of British registry to eleven vessels, the property of the Taku Tug and Lighter Company, a British Company registered in Hong Kong but having its principal place of business in Tien-tsin.
The whole question connected with the registration of vessels of this class has been so fully dealt with in my despatches Nos. 296 and 318 of the 20th ultimo and 4th instant that I need not do more than reiterate my concurrence in the view expressed by Sir Pelham Warren that if their right to be treated as British vessels is doubtful under the existing law, special legislation should, if possible, be introduced to meet the requirements of the increasing numbers of British ship-owners who have their principal places of business at the Treaty ports in China.
I have, &c. (Signed) J. N. JORDAN.
Inclosure 1 in No. 1.
Sir P. Warren to Sir J. Jordan.
(No. 70.) Sir,
Shanghae, July 7, 1908. I HAVE the honour to inclose herewith copics of three despatches which have been addressed to me by His Majesty's Consul-General at Tien-tsin, requesting that eleven vessels, the property of the Taku Tug and Lighter Company of Tien-tsin, may be registered as British ships. The circumstances are somewhat unusual, as the Company holds no bills of sale, builders' certificates, or other documents of title such as are called for by "The Merchant Shipping Act, 1894" (section 10). I find, however, on reference to the Official Instructions to Registrars" (section 23), the following
passage:-
**
"The Commissioners of Customs in the British Islands and the Governors in British possessions abroad have power to dispense with the production of the builder's certificate when they consider that from any sufficient cause it cannot be produced. But, as the certificate is a document of title, this power is never exercised except on the strongest grounds."
From the facts as set forth by His Majesty's Consul-General at Tien-tsin, and from the evidence contained in the deed of trust and in the Agreement with the British military authorities, copies of which are inclosed, it would appear that the claim to ownership on the part of the Taku Tug and Lighter Company of Tien-tsin is well established, and that it is in the interests of justice and of the proper regulation of British shipping that these vessels should be placed upon the register. In these circumstances I have the honour to request that you will, as representative of the Board of Trade in China, recommend to the authorities at home that the application be granted, and that I may be empowered to issue to the Company certificates of British registry.
In forwarding to you this request on behalf of a British Company registered at Hong Kong, but having its principal place of business at Tien-tsin, I have the honour to refer once more to my despatches No. 77 of the 6th June, and No. 88 of the 22nd June, 1907, and to your reply which was contained in a despatch No. 41 of the 3rd July. The hardship which would appear to be inflicted by section 1 (d) of the Merchant Shipping Act of 1894 upou British Companies baving their principal place
[1933 g---11]
B
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