CO129-470 - Public Offices - 1921 — Page 208

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extension of the telegraph system (wired) the Goverment of the

Chinese Republic (to be hereinafter referred to as "A") haa

approached the Exchange Bank of China (tp be hereinafter referred to as "B") for a loan of 20,000,000 yen, and both sides have

agreed upon the following terms:-

yen

Article 1. The amount of the present loan shall be 20,000,000

Art.2. The time limit of the present loan shall be five

years from the date when the loan agreement is signed, that is,

the agreement shall expire on the 27th day of the 4th month of

the 12th year of the Chinese Republic, i.e., the 20th day of the

4th month of the 12th year of Taisho of Imperial Japan, But

after the expiration of the time limit the said loan may be con-

tinued by mutual consent.

Art.3. The rate of interest to be paid on the present loan

shall be 8 per cent. per annum, that is, on every 100 yen 8

yen shall be paid as interest every year.

Art.4. The first payment of interest on the present loan,

from the date of payment of the said loan to the 14th day of

the 7th month of the 7th year of Taisho, to be calculated by

days, shall be paid in advance on the day of delivery of the

said loan proceeds. Thereafter the amount of interest for six

months shall be paid yearly on the 15th days of the 1st and 7th

months or thereabouts; but the last payment of interest to be

walculated by days to the expiration of the present loan agree-

ment shall be made in a dvance.

Art.5. The present loan shall be paid in full without any

discount,

Art.6. After receipt of the proceeds of the present loan A

shall deposit same with B, and may appropriate them from time to

time as occasion arises. Regarding the rate of interest to be

paid on this deposit and the exchange rate, the procedure con-

cerning them shall be negotiated and agreed upon separately.

Art.7./