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such store. It is not feared that Great Britain will
fail ultimately to secure the nankor-Canton loan; what is
to be feared is that Germany, in her anxiety to secure
the coveted preference for her industries, may and prob-
ably will offer China such favourable financial teras as
would render the subsequent acquisition of the lown by
Great Britain not worth the having.
nder these circumstances the British Group concerned,
the British and Chinese Corporation, with the concurrence
the British Foreign and Colonial Offices, resolved, so
far as they were concerned, to admit German participation
€ regards finance, while reserving to taemselves, as
ainst both the French and German Groupe, the entire British
ghts to the appointment of engineers and the supply of aterial secured by the Anglo-Chinese Agreement of 1906.
To give effect to tuis resolution it was necessary to
devide a new method of procedure. First of all it was necessary for tue British to obtain the consent of the
reach Group to the admission of a German partner in the Assuming that no objection would be raised by the French, there still remained for solution the method to be adopted for separating the financial and the construc-
loan.
tional
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