CO129-470 - Public Offices - 1921 — Page 452

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5. It is agreed that the cost of these investigations, preliminary reconnaissance surveys, estimates, reports and negotiations shall be at the expense of Mr. Charles S. Paget and not paid for by the Administrative Council through its director, except tl::: if a final agreement is entered into and the construction of one or more of the lines proposed is arranged for, the cost of the preliminary investigations and negotiations shall be paid for out of the proceeds of the loan funds actually advanced.

6. It is further agreed that during the period of this agreement, or during the periods of extension of this agreement, Mr. Charles S. Paget shall possess the sole authority from the Railway Administrative Council, through its director, to negotiate this load, and that no other party or parties shall have similar authority to negotiate this loan during the same period or periods of time.

7. It is further agreed that the Administrative Council, through its director, will give all due facility and protection to Mr. Paget and his engineers in carrying out his investigations, that they will be provided with necessary guards, assistants and transportation to any point along the proposed routes with the object of affording them prompt and efficient expedition to the investigations.

8. The English text of this agreement shall be held as the correct interpretation.

Enclosure 4 in No. 1.

(No. 54.) (Telegraphic.) P.

Mr. Clive to Consul-General Goffe.

Peking, December 3, 1920. WITH reference to Canton despatch No. 100 of the 16th November, 1920. Publicly subscribed loans to Chinese Provincial Governments, as well as to companies guaranteed by Chinese Provincial Governments, are covered by Consortium Agreement. If you think fit, you may explain this to Mr. Lee and advise him that the Canton Government should proceed slowly until it becomes clear how situation arising Third from formal foundation of consortium affects these proposed concessions. scheme proposed would be covered by completion of Hankow-Canton trunk line, to which the Hukuang group will give first priority. Under assurances given in 1914 by Chinese Government, Provincial Railway of Canton cannot be linked up with Hunan section without previous consultation with groups. The terms of Peking circular of the 13th May, 1913, still cover schemes 1 and 2.

You should be careful, pending receipt of further instructions, to avoid suggesting that His Majesty's Government could support application of a non-consortium firm for

concessions.

The reply of the Foreign Office to my enquiry regarding attitude of His Majesty's Government towards question of independent companies endeavouring to secure concessions now that consortium has been definitely formed is at present moment being awaited.

20.

1921

HONG KONG

-162577

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