113
14
Such Bonds are to be numbered consecutively, and as many Bonds as may be needed are to be properly engraved under the supervision of the Corporation, and after they are sealed by the Chinese Minister in London, as hereinbefore provided, are to be countersigned by the Corporation.
All expenses for the engraving, safe deposit, and sale of the Bonds are to be borne by the Corporation.
Article 6.
When the work of construction is ready to begin, the Viceroy will establish a Head Office at Canton for the construction and management of the Railway. This Office will be under the direction of a Chinese Managing Director (appointed by the Viceroy) with whom will be associated a British Engineer-in-Chief, and a British Chief Accountant. These British employés shall be proposed and certified as competent for their posts, by the Corporation, and shall be approved by the Viceroy; if their services should prove unsatisfactory to the Viceroy, he shall request the Corporation to dispense with their services and to nominate their successors, and, in the event of the Corporation desiring to remove them for good cause, it shall do so in consultation with the Viceroy. It is understood that the duties performed by these employés are intended to promote the mutual interests of the Chinese Government and the Bond-holders respectively, and it is therefore agreed that all cases of difference arising therefrom shall be referred for amicable adjustinent between the Viceroy and the Representative of the Corporation. The salaries and other terms of agreement of the Engineer-in-Chief and the Chief Accountant shall be proposed by the Corporation, for approval by the Viceroy; and the amount of their salaries, etc., shall be paid out of the general accounts of the Railway.
For all important teclinical appointments on the Railway Staff, Europeans of experience and ability shall be engaged, and wherever competent Chinese are available, they shall also be employed. All such appointments shall be made, and their functions defined, by the Managing Director and the Engineer-in-Chief in consultation, and shall be submitted for the Viceroy's approval; similar pro- cedure shall be followed in the case of Europeans employed in the Chief Accountant's department. In the event of the misconduct, or the incompetency of European employés, their services may be dis- pensed with by the Managing Director, after consultation with the Engineer-in-Chief, and subject to the sanction of the Viceroy. The form of agreements made with European employés shall conform to the usual practice.
The accounts of the receipts and the disbursements of the Railway's construction and operation, shall be kept in Chinese and English in the Department of the Chief Accountant, whose duty it shall be to organise and supervise the saine, and to report thereon for the information of the Viceroy through the Managing Director, and of the Corporation. All receipts, and payments, shall be certifi- ed by the Chief Accountant and authorised by the Managing Director.
For the general technical staff of the Railway the necessary arrangements shall be inade by the Managing Director in consultation with the Engineer-in-Chief, and reported to the Viceroy in due
course.
The duties of the Engineer-in-Chief shall consist in the efficient and economical construction and maintenance of the Railway, and the general supervision thereof in consultation with the Managing Director. He shall always give courteous consideration to the wishes and instructions of the Viceroy, whether conveyed directly or through the Managing Director, and shall always comply therewith, having at the same time due regard to the efficient construction and maintenance of the failway,
A school for the education of Chinese in railway matters shall be established by the Managing Director, subject to the approval of the Viceroy.
Article 7.
Under the provisions of Article 3 of this Agreement the properties covered by the first mortgage security hereby created include the Railway, its property and equipment, and the mortgage is to be executed by a deed in the form contemplated by the said Article. mortgage thus given by the Chinese Government, it is hereby declare that this Railway is in fact a But subject to the guarantee and Chinese property.
All land that may be required along the whole course of the Railway within survey limits, and for he necessary silings, stations, repairing shops and car sheds, to be provided for in accordance with he detailed plans now made, or hereafter to be made by the Engineer-in-Chief, and approved by the Viceroy, shall be acquired by the Viceroy at the actual cost of the land, and shall be paid for out of the
Toceeds of the Loan.
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