52
"This Document is the Property of His Britannic Majesty's Government. C.0.
CHINA TRADE.
CONFIDENTIAL.
[43326]
No. 1.
1189
[December 12.]
SECTION 3.
IIAN AS
(No. 482.) Sir,
Sir J. Jordan to Sir Edward Grey.-(Received December 12.)
Peking, October 27, 1908, WITH reference to my despatch No. 448 of the 12th October, transmitting a copy of the Yalu Timber Company's statutes, under Article 3 of which the capital of the Company was fixed at 3,000,000 dollars, I have the honour to report the conclusion of an Agreement between the Hong Kong and Shanghae Bank and the Manchurian authorities for a loan of 1,100,000 taels, equivalent to 1,500,000 dollars, and repre- senting the Chinese share in the Company.
On the 23rd October I was notified by Prince Ch'ing of this transaction in the note, of which I have the honour to inclose a translation. The Agreement, however, has not yet been signed, but it is expected that Mr. Mackintosh, the agent of the Hong Kong and Shanghae Bank at Tien-tsin, will be summoned to Mukden in a few days for this purpose.
In the meantime Mr. Hillier has been informed that the present loan will ultimately form part of a larger transaction, namely, a loan for 6,100,000 taels, from which the Yala Company's loan will first be paid off, leaving a balance of 5,000,000 taels, secured on the salt revenue of Manchuria, and to be devoted to general purposes in the province.
I have, &c. (Signed)
Inclosure in No. 1.
Prince Ch'ing to Sir J. Jordan.
J. N. JORDAN,
(Translation.) Sir,
Peking, October 23, 1908. ON the 19th October, the Grand Council communicated to this Board the Memorial of the Governor-General of Manchuria, proposing to borrow from the Hong Kong and Shanghae Banking Corporation a foreign loan, amounting to 1,100,000 taels, and on the same day an Imperial Rescript in the Vermilion Pencil was received, commanding as follows: "Let it be as suggested, and let the proper Board take
note.
Bank
+1
I accordingly have the honour to inform your Excellency, and to request that the
may be duly notified that they may act in accordance with the arrangement.
I avail, &c. (Signed) PRINCE CHING.
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