2
Regulations it has been agreed that the Company will be established from the 25th September, 1908.
2. Organization.--In accordance with the Agreement signed in Peking, the two Governments will appoint officials to establish a Company.
(a.) After the lapse of one year, when everything is in working order, merchants will be requested to undertake the business,
(b.) Shares-Regulations for the issue of shares will be drawn up after the inauguration of the present Company.
3. Capital. The capital of the said Company is fixed at 3,000,000 dollars, which on the day of the establishment of the Company is to be contributed in equal shares by the Chinese and the Japanese Governments. When the Company is transferred to a merchant Association, the whole of the said capital will be withdrawn.
4. Currency. The capital is to be paid up in Chinese dollars, and all receipts and expenditures must be calculated in such currency. The money will be deposited partly in Chinese and partly in Japanese banks as shall be determined by the managers of the Company.
5. Officers. The following shall be the officers of the Company -
(1.) One Superintendent.
(2.) Two Chief Managers.
(3.) Two or more Sub-Managers.
(4.) Experts and other officials.
(a.) The Viceroy and Governor of Fengtien Province have appointed the Taotai of the Eastern Frontier as Superintendent of the Company.
(b.) Of the Chief Managers, one shall be appointed by the Chinese and one by the Japanese.
(c) The Sub-Managers shall be appointed by the Chief Managers in consultation.
(d.) Experts and other officials will also be appointed by the Chief Managers, but such appointments must be distributed equally between Chinese and Japanese subjects.
6. Salaries. The salary of the Superintendent shall be 15,000 dollars per annum, that of the Chief Managers 10,000 dollars per annum. The salaries of the Sub-Managers will be determined by the Chief Managers in consultation.
7. Experts. The number and salaries of the experts and other officials will be determined by the Chief Managers in consultation with the Superintendent.
8. Accounts. The correspondence and accounts of the Company, being of the greatest importance, will be rendered in both Chinese and Japanese. The two Governments will appoint Auditors, who will inspect the working of the Company and all the accounts and correspondence. They shall be empowered to demand from the Company all kinds of documents and any information as to the condition of the Company.
9. Calendar.(a.) The accounts of the Company will be rendered in accordance with the Chinese calendar.
Final Balance.-(b.) When the Company is handed over to a mercantile Association a final balance-sheet will be at once issued.
10. Loans. The Company is formed from capital supplied jointly by China and Japan. Unless by mutual agreement the Company may not of its own initiative borrow money to extend its operations.
11. Reserve Fund.--Five per cent. of the profits of the Company must be placed to a reserve fund. When such reserve fund has reached an amount equal to one-third of the capital of the Company it shall remain at that amount. Just as is laid down in the preceding clause, this reserve must not be used except under mutual agreement.
12. Fiscal Estimates.-The Chief Managers must prepare and submit to the Superintendent for approval a statement of their estimates for the receipts and expenditure of each year. In such estimates there must be a clear discrimination between the items of expenditure and income.
13. Reports to Superintendent.—To all that relates to receipts and expenditure, as well as in other matters involving joint calculations, the Chief Managers must, after consultation, report their decision to the Superintendent.
14. As regards the taxes on the timber cut by the Company, they must be paid in accordance with the old "Shan-chia Ko" tariff, but with a 20 per cent. reduction.
3
542
The Company has nothing to do with the boat tax as levied under former conditions. Other charges, such as inspection of timber, police protection, and similar taxes, are altogether remitted. If timber is exported by steamer, the export duty, in accordance with the Customs Tariff, will be paid as a substitute for the boat tax. Payment of the "Shan-chia Ko" tax, in accordance with precedent, will be made by the Company at the time of the sale of the lumber. The business of the Company, its receipts, implements used in cutting logs, &c., will be free from taxation. The local land tax must, however, continue to be paid, in accordance with former regulations.
15. Chekiang Railway Privileges.-The Chekiang Railway Company may contract for and buy timber needed by them from lumber merchants, but a document must be given by the said Company, stating the particulars of all such timber, which must be presented to the Taotai of the Eastern Frontier and sealed by him. At the time of export of any such consignment the Superintendent of the Company will depute an officer to inspect the lumber before releasing it.
16. Settlers must sell to Company.-With the exception of the wood required for their own needs, the settlers on either bank of the Hun River must sell their timber exclusively to the Company. It has already been provided in the Peking Agreement that the local authorities must issue a Proclamation to this effect. Hereafter, if there should be any violation of the Peking Agreement the Company will inform the local authorities, who shall take measures to punish the offenders without leniency.
17. Rafting Logs.-The Company will undertake the responsibility of making suitable arrangements for the supervision of rafting logs; such arrangements must be decided upon by the two Chief Managers conjointly, and submitted to the Superintendent for his approval.
(b.) The timber Companies now in existence must at the time of the establishment of this Company be dissolved, and the local authorities shall issue Proclamations to this effect.
18. Limitation of Operations. In accordance with the Peking Agreement, the Company may cut timber on the right bank of the Yalu from Maoerlishan as far as the twenty-fourth tributary within a distance of 60 Chinese li on either side of the main stream. The two Governments will appoint officers who will conjointly make a survey, and map out the extent of such Concession.
19. Forests to be conserved.-The Company must investigate the conditions of the forests to be cut. The extent of the district in which cutting will take place in each year and the nature of the trees must be shown on a map and reported for the approval of the Viceroy and Governor.
20. Only Chinese to be employed. Chinese labourers only must be employed by the Company in cutting and moving timber and in constructing and navigating rafts, so as to help the inhabitants of the district in their livelihood." In the event of the engagement of a person of any other nationality, the consent of the Superintendent must be obtained.
21. Chinese Timber Brokers may continue Business.--Although the timber business is to be conducted by the Company, Chinese timber brokers may continue their business as heretofore, but at the proper time they must make satisfactory arrangements with the Company.
Supplementary Agreement.
1. Peiyang and Manchurian Dollars.--The Chinese dollars mentioned in clause 4 of the main Agreement are Peiyang dollars. Hereafter, should the Manchurian dollar obtain a stable circulation, the change from Peiyang to Manchurian dollars will be discussed.
(b.) The original capital may be subscribed in taels, to be converted into Peiyang dollars at the current rate of the day of the inauguration of the Company.
2. Timber for Chinese Government.--In accordance with Article 6 of the Peking Agreement, timber required by the Chinese Government or Chinese yamêns or offices will be furnished by the Company at the cost of labour plus the duty. The Company may charge in addition the amount of the wages of its employees.
3. Initial Outlay. The initial outlay for the establishment of the Company not exceeding 70,000 dollars will be temporarily advanced by the two Governments.
[2020 ee-1]
B 2
}
2
Regulations it has been agreed that the Company will be established from the 25th September, 1908.
2. Organization.--In accordance with the Agreement signed in Peking, the two Governments will appoint officials to establish a Company.
(a.) After the lapse of one year, when everything is in working order, merchants will be requested to undertake the business,
(b.) Shares-Regulations for the issue of shares will be drawn up after the inauguration of the present Company.
3. Capital. The capital of the said Company is fixed at 3,000,000 dollars, which on the day of the establishment of the Company is to be contributed in equal shares When the Company is transferred to by the Chinese and the Japanese Governments. to a merchant Association, the whole of the said capital will be withdrawn.
-
4. Currency. The capital is to be paid up in Chinese dollars, and all receipts and expenditures must be calculated in such currency. The money will be deposited partly in Chinese and partly in Japanese banks as shall be determined by the managers of the Company.
www.m
5. Officers. The following shall be the officers of the Company -
(1.) One Superintendent.
(2.) Two Chief Managers.
(3.) Two or more Sub-Managers.
(4.) Experts and other officials.
(a.) The Viceroy and Governor of Fengtien Province have appointed the Taotai of the Eastern Frontier as Superintendent of the Company.
(b.) Of the Chief Managers, one shall be appointed by the Chinese and one by the Japanese.
(c) The Sub-Managers shall be appointed by the Chief Managers in consultation. (d.) Experts and other officials will also be appointed by the Chief Managers, but such appointments must be distributed equally between Chinese and Japanese subjects.
6. Salaries. The salary of the Superintendent shall be 15,000 dollars per annum, The salaries of the Sub- that of the Chief Managers 10,000 dollars per annum. Managers will be determined by the Chief Managers in consultation.
7. Experts. The number and salaries of the experts and other officials will be determined by the Chief Managers in consultation with the Superintendent.
8. Accounts. The correspondence and accounts of the Company, being of the greatest importance, will be rendered in both Chinese and Japanese. The two Governments will appoint Auditors, who will inspect the working of the Company and all the accounts and correspondence. They shall be empowered to demand from the Company all kinds of documents and any information as to the condition of the Company.
9. Calendar.(a.) The accounts of the Company will be rendered in accordance with the Chinese calendar.
Final Balance.-(b.) When the Company is handed over to a mercantile Association a final balance-sheet will be at once issued.
10. Loans. The Company is formed from capital supplied jointly by China and Japan. Unless by mutual agreement the Company may not of its own initiative borrow money to extend its operations.
11. Reserve Fund.--Five per cent. of the profits of the Company must be placed to a reserve fund. When such reserve fund has reached an amount equal to one-third of Just as is laid down in the capital of the Company it shall remain at that amount. the preceding clause, this reserve must not be used except under mutual agreement.
12. Fiscal Estimates.-The Chief Managers must prepare and submit to the Superintendent for approval a statement of their estimates for the receipts and expen- diture of each year. In such estimates there must be a clear discrimination between the items of expenditure and income.
13. Reports to Superintendent.—To all that relates to receipts and expenditure, as well as in other matters involving joint calculations, the Chief Managers must, after consultation, report their decision to the Superintendent.
14. As regards the taxes on the timber cut by the Company, they must be paid in accordance with the old "Shan-chia Ko" tariff, but with a 20 per cent. reduction.
3
542
The Company has nothing to do with the boat tax as levied under former conditions. Other charges, such as inspection of timber, police protection, and similar taxes, are altogether remitted. If timber is exported by steamer, the export duty, in accordance with the Customs Tariff, will be paid as a substitute for the boat tax. Payment of the "Shan-chia Ko" tax, in accordance with precedent, will be made by the Company at the time of the sale of the lumber. The business of the Company, its receipts, implements used in cutting logs, &c., will be free from taxation. The local land tax must, however, continue to be paid, in accordance with former regulations.
15. Chekiang Railway Privileges.-The Chekiang Railway Company may contract for and buy timber needed by them from lumber merchants, but a document must be given by the said Company, stating the particulars of all such timber, which must be presented to the Taotai of the Eastern Frontier and sealed by him. At the time of export of any such consignment the Superintendent of the Company will depute an officer to inspect the lumber before releasing it.
16. Settlers must sell to Company.-With the exception of the wood required for their own needs, the settlers on either bank of the Hun River must sell their timber exclusively to the Company. It has already been provided in the Peking Agreement that the local authorities must issue a Proclamation to this effect. Hereafter, if there should be any violation of the Peking Agreement the Company will inform the local authorities, who shall take measures to punish the offenders without leniency.
17. Rafting Logs.-The Company will undertake the responsibility of making suitable arrangements for the supervision of rafting logs; such arrangements must be decided upon by the two Chief Managers conjointly, and submitted to the Superin- tendent for his approval.
(b.) The timber Companies now in existence must at the time of the estab lishment of this Company be dissolved, and the local authorities shall issue Pro- clamations to this effect.
18. Limitation of Operations. In accordance with the Peking Agreement, the Company may cut timber on the right bank of the Yalu from Maoerlishar as far as the twenty-fourth tributary within a distance of 60 Chinese li on either side of the main said stream. The two Governments will appoint officers who will conjointly make a survey, and map out the extent of such Concession.
19. Forests to be conserved.-The Company must investigate the conditions of the forests to be cut. The extent of the district in which cutting will take place in each year and the nature of the trees must be shown on a map and reported for the approval of the Viceroy and Governor.
20. Only Chinese to be employed. Chinese labourers only must be employed by the Company in cutting and moving timber and in constructing and navigating rafts, so as to help the inhabitants of the district in their livelihood." In the event of the engagement of a person of any other nationality, the consent of the Superintendent must be obtained.
21. Chinese Timber Brokers may continue Business.--Although the timber business is to be conducted by the Company, Chinese timber brokers may continue their business as heretofore, but at the proper time they must make satisfactory arrange- ments with the Company.
Supplementary Agreement.
1. Peiyang and Manchurian Dollars.--The Chinese dollars mentioned in clause 4 of the main Agreement are Peiyang dollars. Hereafter, should the Manchurian dollar obtain a stable circulation, the change from Peiyang to Manchurian dollars will be discussed.
(b.) The original capital may be subscribed in taels, to be converted into Peiyang dollars at the current rate of the day of the inauguration of the Company.
2. Timber for Chinese Government.--In accordance with Article 6 of the Peking Agreement, timber required by the Chinese Government or Chinese yamêns or offices will be furnished by the Company at the cost of labour plus the duty. The Company may charge in addition the amount of the wages of its employees.
3. Initial Outlay. The initial outlay for the establishment of the Company not exceeding 70,000 dollars will be temporarily advanced by the two Governments.
[2020 ee-1]
B 2
Iri
No comments yet.
Private notes are available after approval.