CO129-360 - Public Offices - 1909 — Page 182

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Enclosure No.2 in Mr Consul General Frager's General Series, 180

No.82 of December 26, 1908.

Exchange of telegrams between Shanghai Munanese and una

Railway Co.: précis of..

anan

27

JAN 20 1909.

The Universal Gazette of December 19th publishes tol-

ograms exchanged between the Hunanese in Shanghai and the

Hunan Railway Co. on the suhject of the reported foreign

loan which the former think most dangerous. They are sure

share subscriptions will come in freely if Fr Bland's

tempting is not listened to. The Co. replies that there

is no option but to raise a loan for both Hupei and unan;

that the intention is not to pledge the line and to borrow

only as money is actually needed, thus suring interest,

and gradually to hypothecate the rice md salt rutes. H.R.

Chang's telegram declares that the local finances and the

railway righɩa will in no way be prejudiced and no other

embarrassment will result. The only course is to raise as

many shares as possiblo as each shure got reduces the

amount to be borrowed. The Co. has sent agents everywhere

to encourage subscriptions so that the railway may be

speedily completed.

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