CO129-520-6 Railway development- Canton-Kowloon Railway 5-11-1929 - 5-11-1930 — Page 118

C

$20,000,000, that the interest is fixed at the

peculiarly low rate of

2,TM*

per annum, and that the

service is to be met out of the surplus earnings

of the line.

130

2. I presume that this scheme, which is main-

ly of interest to us as oreating a new lien on a por«

tion of the future Canton Hankow lway, has some

connection with the proposals now on foot for the

completion of the railway and in normal circumstances

the redemption of the private shares of the Yuet Han

Railway Company and the nationalisation of the Sou-

thern section with a view to its incorporation in tă

whole line would be natural and proper

tepe to take,

In existing circumstances however it remains to be

hether or not the proposed bond issue is serious-

ly meant or whether it is merely a scheme for expro-

priating the private shareholders.

I have the honour to be,

With the highest respect,

air,

Your moet obedient humble servant,

(Signed)

i

MILES LAMPSON.