CO129-375 - Governor Sir Lugard - 1911 [1-2] — Page 155

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THE BRITISH AND CHINESE Corporation. Limited. 148

3.

so laxious are the Board in the interests of all concerned (and not least those of the Honkong Government) that & satisfactory arrengonent should be arrived at, that they have decided to request you to reply in general terms that the Board of the Corporation are in favour of a Working: Agreement between the two sections of the Railway, as they consider sich an arrangement to be in the interests of all parties concerned, and that they are prepared to support any equitable Agreement which the Wong kong Government may propose provided it does not conflict with the terms of the Chinese Loun Agreement.

Ac regards my alteration in the Loan Agreement, it would not be an ensy matter to carry out and might be impossible as there are no provisions in the Loan Agreement for meetings of Bondholders, and it is very doubtful whether the Court would sanction an alteration in the Agreement even if atisfied that such alteration would be in the Bondholders' interests.

Every effort should therefore be made to formulate

a scheme which would not conflict with the Loan Agreement.

Yours faith fully,

FOR THE BRITISH & CHINESE CORPORATION, LIMITED.

Secretary.